Walmart is an American institution that serves the entire country. Some live by it, others blame it for the demise of small business. The story behind its rise and the fundamental guiding principles of its founder, Sam Walton, is captured in the autobiography: Sam Walton, Made in America (link to Amazon book here). While an autobiography may be somewhat bias, the book is filled with core business lessons and values that I believe are worth sharing. I’ve summarized the main topics I found most valuable in a 3-page summary document. The high level topics are outlined below, and you can click here to download the full 3-page summary document.
- Creating a Family Partnership or Corporation to own stock
- Discount Strategy
- Hiring Store Managers as Limited Partners
- Investing in Technology
- Saturation Strategy
- Policies and Technology
- The Customer is the Boss
- Think Small
If you enjoy the summary, the book is entertaining, easy to read, and provides the context for the summary document. You can order it for less than $10 on Amazon here.