Posted on Monday, February 07, 2005 1:17 PM
When you think of retail success stories, it is hard to think of anyone more succesful than Sam Walton, founder of Wal-Mart. So, it was with great interest that I read this article which outlined 10 rules you need to follow to mimick his success.
Here they are, in condensed form. Read the full article for the long version:
Rule 1: Commit to your business. Believe in it more than anybody else.
Rule 2: Share your profits with all your associates, and treat them as partners.
Rule 3: Motivate your partners. Money and ownership alone aren't enough.
Rule 4: Communicate everything you possibly can to your partners.
Rule 5: Appreciate everything your associates do for the business.
Rule 6: Celebrate your success. Find some humor in your failures.
Rule 7: Listen to everyone in your company and figure out ways to get them talking.
Rule 8: Exceed your customer's expectations.
Rule 9: Control your expenses better than your competition.
Rule 10: Swim upstream.