Jacoline Loewen

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Commit to your business- Sam Walton and his 10 rules of business

Have you visited the Walmart museum? It s a tribute to one of the greatest miracles of modern business—a scrappy 5 and 10 store in Northwest Arkansas that somehow managed to become number one on the Fortune 500 and the Fortune Global 500. Regular readers of this blog know I focus frequently on how leadership has changed in the last few decades. But I was struck by founder Sam Walton’s 10 rules of business, posted on the museum wall, which still seem to strike all the right chords. They are, in short form:

  1. • Commit to your business.
    • Share your profits with your associates.
    • Motivate your partners.
    • Communicate everything you possibly can to your partners.
    • Appreciate everything your associates do for the business.
    • Celebrate your successes.
    • Listen to everyone in your company.
    • Exceed your customers’ expectations.
    • Control your expenses better than your competition.
    • Swim upstream.

I particularly like the last one, which was Mr. Sam’s way of saying: “disrupt yourself.” It is in my books, the hardest to achieve. It is why large companies slowly deflate and end.