The man who became a billionaire with his 10-cent shop: Sam Walton

SUMMARY: He was born on March 29, 1918 in Oklahoma. Her mother is Nancy Lee Walton and her father is Thomas Gibson Walton. He played basketball and football at Columbia's Hickman High School. He married Alice Walton in 1958. They had children named S. Robson Walton, John T. Walton, Jim Walton and Alice Walton. He was the richest person in the United States from 1985 to 1988. He passed away in 1992.

He was born on March 29, 1918 in Oklahoma. His real name is Samuel Moore Walton. He made a small shop the largest company in the world. Of course, he made his family the richest family in the world...

It bears the typical characteristics of the growing generation between the two wars; is hardworking and thrifty. With extra ambitions, Walton graduated from Hickman High School in Colombia, Missouri in 1936, and graduated from the University of Missouri School of Economics in 1940.

In the second year of the war in the "Old World", he takes a job at the J. C. Penney store. When the war engulfs the "New World" and Uncle Sam invites all young people to the army, Walton goes to the army from the gunpowder factory where he was working at that time.

He opens his first millinery store in Newport Arkansas in 1945. Sam and Helen married on February 14, 1943, and had three sons and a daughter until 1949.

Something spectacular happens to him in 1950, and an "evil owner" doesn't renew his contract by eyeing Sam's work, but opens the same business in the same place. Thereupon, Sam Walton and his family opened “Walton's 5-10 Cents” in Bentonville and settled there.

He opened his second store in 1952 and switched to the self-service system. In 1954, he opens a bonmarşe shopping center.

In 1962, he opened his first Wal-Mart store in Arkansas. During this entire merchandising process, he has a great idea: Lowering prices is the best way to gain customers and therefore increase profits in the long run. With this simple strategy, it seeks and continuously develops ways to find the cheapest goods and deliver them to the consumer by offering them in the simplest and most convenient way.

Wal-Mart stores are growing rapidly. In 1970, the company went public. He tried to retire in 1974, returning two years later. In 1979, Wal-Mart reached sales of $1 billion. In 1984, he lost a claim to the company's profits and was forced to do hula dancing. He died in 1985, 7 years after being named "the richest man in the world" by Forbes and 19 days after being honored with the Medal of Freedom by President George W. Bush.

Sam Walton, the founder of Walmart, passed away in 1992.

This is the chronological story of trading genius Sam Walton in a nutshell… But the words that best describe him would have to be what he said when asked how he felt in 1987 when he lost $1 billion as all stocks plummeted: “After all, it's a piece of paper. It was a piece of paper when we started and it is still a piece of paper.”

Success formulas

What made Wal-Mart Wal-Mart? Sam Walton (1918-1992). His thoughts, principles and standards formed the DNA of the company. Still, when seniors face a leadership problem, they ask themselves, 'What would Sam do in this situation?'

Sam Walton's 10 golden rules:

1) Promise and commit to success and always be ambitious and determined.

Sam Walton was ambitious and driven, always committed to success, and instilled the same level of commitment and perseverance in other people. He expected everyone at Wal-Mart to be committed, dedicated, and ambitious and diligent to achieve goals with a team spirit.

2) Share success with those who helped you.

What Sam said about it were not empty words. He was always walking around and talking to the staff. It would give employees information on how to participate in programs related to profit sharing and purchasing company shares.

3) Motivate yourself and others to achieve your dreams.

Sam Walton knew how important a motivated team (managers and other employees) was, and he knew very well that money was not the only way to motivate people. His meetings would be very entertaining, he would talk inspiring and encouraging, and he would make different surprises. He always found creative and different ways to motivate people.

4) Communicate with people and show them that you care.

Sam believed that the more employees knew about the job details, the better they would do the job. He always shared even the most confidential financial information of the company with managers and employees, and he never hesitated. At the same time, Sam was very famous for remembering employees' names and family details. He wanted every Wal-Mart employee to consider the other person in the same way.

5) Recognize and appreciate what people do and their results.

Sam Walton loved to showcase and tell others about the extraordinary work of his employees. He shared such events with everyone as an example of comparison and high standard. According to that; if anyone could do it, anyone could do it. When Sam saw something like this, he would publicly share that success with everyone, praising the one who did it. He believed strongly in getting someone to do things right and well, and he often used these opportunities to praise people.

6) Celebrate your own and others' achievements.

Sam has always been keen on making Wal-Mart stand out from other retailers, making it a fun-filled, enjoyable workplace for employees and customers alike. He asked employees not to take bosses too seriously and to celebrate important events; for example birthdays or the birth of a newborn baby.

7) Listen to others and learn from their ideas.

Sam Walton firmly believed that everyone who worked at the company was a source of useful ideas and always said it was very important to ask them for their opinions. The company always asked its senior staff to devote time to this task.

8) Perform better than customers' and others' expectations, exceed expectations.

9) Control expenses and save to get rich.

It was well known that Sam Walton was proud to be a tight-lipped person because of Wal-Mart. For Wal-Mart, cheapness was elegance, fashion, tradition. For Sam, frugality was a virtue. Being thrifty was a priority at every level of Wal-Mart.

10) Swim against the current, be different and question the current situation.

Sam Walton deliberately changed the traditional ways in which things were done, broke and changed the rules. Forcing and trying to change the normal way of doing things, he believed, could and did bring a lot of competitive advantages.