Sunday, March 1, 2009

Sam Walton: Made In America - Book review

Just finished reading Sam Walton: Made In America and I have to say, that I was pleasantly surprised. I found it very interesting. It is written in a conversational style and is a very straightforward reading. It covers how, through a mix of small-town America patience, friendliness, hard work, and a great learning adaptability, Sam Walton was able to create the largest retail vendor in the world and become the richest man in America, although he didn't seem to be very fond of that title.

Interesting points:
  • He admits it with a pride that he invented very few of the ideas that made the store such a success, instead borrowing the best ideas from every store he visited (and he visited a lot).
  • In it you also learn what the Wal-Mart Way was about. It's about hard work, passion for the job and thoughtful spending.
  • He refused to stop ever thinking of the customer. His obsession with keeping the customer happy is the secret.
  • Sam Walton was one of the first to give employees ownership in their company by giving them stock options and stock. He could not afford to pay them a large wage, and came up with a creative way to finance their salaries. Many of them realized the value, worked hard, and profited greatly many years later.
  • ... and many more.
It is a simple book, but provides a lot of deep insight about business and I would highly recommend it for any aspiring entrepreneur who needs a little bit of inspiration.

Further information about the book:
Sam Walton: Made In America

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