With Emuel Moore Walton ( Samuel Moore "Sam" Walton) is a talented businessman originally from the USA, the creator of the huge WalMart retail chain. According to Wikipedia, from 1985 to 1988, the popular Forbes publication ranked Walton first among the richest people in America.
The content of the article:
Biography of Sam Walton
Sam was born on March 29, 1918 in a town called Kingfisher. His father Thomas Gibson and mother Nan earned a living farming. At the age of five, Sam moved with his parents to Springfield - it was there that the boy began attending school. After the start of the Great Depression, Sam helped his parents in business, milking cows and delivering milk to customers. When the future businessman turned seven, he sold subscriptions to magazines. Later, until the end of his college years, Sam delivered newspapers door to door, while raising pigeons and rabbits for sale.
Soon Sam's family changed their place of residence again, this time they moved to Small town Marshall. Sam repeatedly became class leader, he also became a scout, and at the age of 13 he received highest degree distinction - an Eagle badge, becoming the youngest Eagle in the history of the Scout movement in the state. But the Waltons moved again - this time to the city of Selbin, where little Walton went to high school, but he graduated from it in Colombia due to another move. Walton made the list of the best students and was chairman of the student council.
As Walton himself said, he did not like to remember his childhood - his parents constantly quarreled and hated each other, and this inevitably left an imprint on the businessman’s life. Sam later began studying at the University of Missouri and became a member of the best student association at that time, Beta Theta Pi. During his studies, he was the head of the senior student society, participated in the management of the student association, and was also a member of an elite military organization.
The beginning of the career and personal life of Sam Walton
Before graduating, Sam was offered a position by J.C. Penney. He met this opportunity and on July 3, 1940, he left for the state of Iowa, the city of Des Moines. There Walton worked as a trainee manager in a simple store, his wage at that time it was $75 monthly. At the beginning of 1942, Sam left his post and settled in the south, near the city of Tulsa. It was there that he met future wife Helen Robson. This year Sam enlisted in American army, but did not participate in combat due to heart problems.
In the service, Sam became a lieutenant, and then a captain. In these positions, he supervised security at the aircraft construction plant, as well as at prisoner camps throughout America. On February 14, 1943, a year after entering the service, Sam married his sweetheart.
When the war is over, Helen and Sam decide to devote their lives to retail. In the city of Newport, with a population of seven thousand people, they rent a store with a capital of 25 thousand dollars, most Helen's father lent this amount. The store operated under a franchise owned by Butler Brothers.
First Walmart store
The store began its activities on September 1, 1945. Until this time, the business brought in 72 thousand dollars every year, but Sam increased this figure to 105 thousand in the first year of owning the store, in the second year of operation the amount was 140 thousand, and in the third - 175 thousand. Sam purchased goods directly from manufacturers, which allowed him to sell them at prices favorable to customers, and the businessman also increased the store’s opening hours during the holidays - all this helped him achieve such fabulous success. Five years after opening, the store became the first in sales, and the owner of the premises did not rent it out again.
The Walton family moved to Bentonville, Arkansas. Then the family already had four children - sons Bob, John, Jim and daughter Alice. Walton opened a store in the town, calling it Walton’s Five and Dime, whose revenue in the first year of operation was $32,000. By 1962, Sam and his brother Bud, who was his partner, already owned 16 premises in different states. Sam began to attract partners, look for investors, increasing his profits. Walton had his own plane and flew it independently - this is how he moved between his enterprises.
The history of Wal-Mart business creation
In 1962, Sam turned 44 years old. That's when he founded the first Wal-Mart. It happened in Rogers, Arkansas. The name was chosen because of its short length - it was much more profitable to order signs this way. By 1979, the number of Wal-Mart retail premises reached 230, with their help Sam Walton raised his fortune to one billion dollars a year. The supermarket chain became the largest in the United States, and Sam was recognized as the richest man in the country.
Secret successful business Sam Walton was that customers of the supermarket chain were attracted not so much by the huge assortment and affordable prices, but by the friendliness of these places. In his supermarkets, Sam tried to create the atmosphere of a small and cozy store. Sam said of his business, "The bigger Wal-Mart stores get, the more we have to avoid megalomania while maintaining a small-store feel."
The entrepreneur was sure that perseverance and charm can change a lot. He interacted with every client as if it was for him that he created his store.
In March 1992, George W. Bush personally presented Walton with the Presidential Medal of Freedom for helping the country bring the Second World War to a victorious conclusion. Some time after this, the legendary entrepreneur passed away. This happened on April 5, 1992 as a result of myeloma, in which the formation of normal blood cells and the structure of bone tissue. At that time, Forbes estimated Sam Walton's fortune at $58.6 billion. On his deathbed, the entrepreneur transferred ownership of the business to his family.
Book “Made in America. How I created Wal-Mart"
Behind a short time the legendary entrepreneur turned a small store into the largest chain retail. This achievement prompted him to write his success story, which was called “Made in America. How I created Wal-Mart" ( Made in America: My story).
The book talks about the founder of the world-famous supermarket chain and his path in the business world. The author shares his observations with readers, tells the rules of conducting big business and reveals the secrets of making money.
Sam Walton talks about learning to value money. The businessman also talks about his family - his brother and wife, and shares how he and his wife raised their children. The author teaches how to build partnerships, create your own culture, resist competition and properly manage your enterprises. In Made in America, Sam answers some of the most... FAQ related to building a business.
Download the book “Made in America. How I created Wal-Mart"
- Paper version of the book “Made in America. How I Created Wal-Mart by Sam Walton can be purchased on the Ozon website.
- You can buy and download Sam Walton's audiobook on the Litres online store website. Duration full version– 7 hours 56 minutes, available formats – mp3, m4b and zip. Before purchasing, you can listen to a fragment of the textbook for free.
- Read “Made in America” online for free or download the book in fb2 formats , lrf , epub , mobi , txt , html is available on the E-reading website.
Sam Walton's 10 Rules for Success
Throughout his life, Walton adhered to certain rules that helped him achieve what he wanted and fulfill everything. cherished dreams. Only occasionally did he deviate from his own principles. These are the rules:
You must always strive to achieve success and be unbridled
Sam is a passionate and active person. He believed that every employee in his supermarket chain was a team member. This is the only way to achieve the overall goals that the company sets for itself.
It's important to share your success with those who helped you
The legendary entrepreneur always paid his employees on time, and the main staff received a percentage of the income of the entire supermarket.
To make your dreams come true, you need to motivate yourself and others.
AND we're talking about not only about the financial component - Sam held inspiring meetings, he always found additional method motivation for employees.
Communication with people and caring for them is the main element of business
Sam remembered the names of all employees and also provided them with important financial information about his company.
It is necessary to understand and appreciate people for their efforts and achievements
Sam Walton publicly praised employees who excelled because he believed it helped others achieve results.
It's worth celebrating your successes and the achievements of others.
Sam tried to create a friendly atmosphere for the employees. The store often hosted birthday parties and other events.
It is important to listen to others and learn from their ideas
The businessman always found time to communicate with staff, he listened to their ideas and welcomed new proposals. Sam believed that every employee at his company had something valuable to offer.
It's best to stay ahead of the expectations of store visitors and everyone else.
Sam Walton knew he had to do everything he could to keep customers coming back to the supermarket. To do this, you just need to offer them what they want.
Controlling costs and following your path are important components of success
Sam Walton believed that frugality was main secret success of a huge corporation, so he implemented this principle at all levels of management.
You need to change, be different and swim against the tide
Very often, Sam broke a variety of rules to find unique competitive advantages for his business.
Sam Walton Charity
Helen and Sam constantly provided financial support various religious, educational and public organizations. Walton lived all his life in small provincial cities, so he knew well what they needed. When opening a new supermarket, its employees immediately found the addresses of local charitable organizations. After the opening of the new store, scholarships were established for students, and charity sales were often held at the supermarket.
In addition, the Walton family donated funds for the construction of libraries, zoological parks and sports facilities. They sponsored hospitals, theaters and fire stations. He also helped provincial mayors - Sam established the American Hometown Leadership Award. It was issued to heads of municipalities who implemented useful long-term projects. Developing and expanding every year and earning a lot of money, Sam and Helen never forgot to give part to charity.
WalMart today
Today, the WalMart supermarket chain has more than four thousand stores in different countries, including America, Mexico, Canada, China, Argentina, Brazil, Puerto Rico and Germany. In total, supermarkets employ more than a million employees, and their assortment consists of 70 thousand items. The network continues to grow rapidly - over the past five years, the corporation has been spending $3-4 billion a year on opening new premises. Official website of the store -
Sam was born on March 29, 1918 in Kingfisher, Oklahoma, to farmers Thomas Gibson Walton and Nan Walton. At the age of five Moves to Springfield, Missouri. It is there that he goes to first grade.
Since childhood, Sam Walton learned 2 important lessons for himself: to achieve anything you need perseverance, and A smile helps a lot...
At seven years old our young hero begins selling magazine subscriptions. For that, so that there is income, In seventh grade, Sam gets a job delivering newspapers to people's homes. IN free time engaged in cultivation pigeons and rabbits for sale. As we see, from childhood Sam is accustomed to hard work.
Later, the family moves to the small town of Marshall (Missouri), where Sam is elected class president for several years in a row. At thirteen, Sam Walton becomes the youngest Eagle. in history scout movement in Missouri.
In the summer of 1932, the newspaper wrote about Sam:
Thanks to his training acquired in the Boy Scouts, Sam Walton, son of Mr. and Mrs. Walton of Shelbina, saved a life Donald Petersen, the baby of Professor and Mrs. Peterson, when he, on Thursday afternoon, drowned in Salt River…
Before finishing college, Sam receives a job offer from J.C. Penney. On July 3, 1940, he moved to Des Moines, Iowa, and began working at trainee manager positions V retail store with a salary of $75 per month.
By the beginning of 1942, Sam quit J.C. Penney and moved to the outskirts of Tulsa, to the south, where he met with my future wife Helen Robson.
Soon after meeting, in 1942, Sam was drafted into the US Army, but due to problems with the heart to combat He is not allowed in even with the rank of lieutenant. Sam begins overseeing security at an airplane factory and prison camps in California and across the country.
14 February 1943, Sam Walton and Helen Robson got married this happened in the town of Claremore (Oklahoma)
Returning to my native land, and feeling like a hero, Sam decided to put pressure on his father-in-law to to get a loan from him. The father-in-law could not resist, and the beginning own business it was supposed to. Sam Walton was given a loan for $20,000. Having borrowed another 5 thousand from relatives, Sam and Helen used the money to open a business in Newport, Arkansas, a store with a proud Ben Franklin sign - a well-known trademark (under a franchise agreement).
The store began operating on September 1, 1945. Under the previous owner, the store generated $72,000 in revenue per year. In the first year of operation, Walton received revenue of $105,000, in the second year of operation - $140,000, and in the third year of operation - $175,000. What is the secret of such sales?
Sam personally greeted each visitor at the door and demonstrated such cordiality, as if he had seen a long-awaited, dear and loved one. He communicated with him as if exclusively It was for this reason that he opened his own shop. He spent hours talking to each client about everything under the sun. He talked tirelessly about his son Robson and family affairs.
The secret to successful retailing is giving your customers what they want.
Five years later, Walton's little store has become the most profitable retail outlet Ben Franklin chain. And the owner of this trademark Envy began to torment me. He decided that it was not the seller’s efforts at all, but the brand. When the next deadline for extending the contract for Sam’s rental of retail space approached, he was refused.
This turn of fate seemed so offensive to the Waltons that they left Newport and moved to the town of Bentonville in the same state of Arkansas. We decided to start from scratch, in a new place. And although there were many difficulties at first, perseverance, perseverance and determination helped Sam overcome everything.
In addition to his constant cordiality and friendliness, he paved the way to the hearts of customers with another innovation. He does everything he can I tried to make discounts on my goods. Moreover, this was not a seasonal promotion. Sam lowered prices immediately as soon as he managed to buy goods in bulk and cheaper.
Over the course of ten years, Sam opened nine more stores in his home state and in Missouri. Improving your business, he constantly studied, studying the theory of trading. On frequent trips throughout the country, he observes how different people the trading process is built, their successes and failures are analyzed.
In my entire adult life I cannot remember a single one day, whenever I think about how best to display the product and sell it.
The main slogan, the main slogan of the Sam Walton chain of stores: “Sale - every day, reduced prices - always!”
In August 1962, Walton opened a supermarket called Waltons Five & Dime on the outskirts of Rogers, Arkansas.
5 years later, in 1967, it already had 24 stores, and sales reached $12 million. Sam remains faithful to his chosen strategy, and it does not let him down. He goes to buy goods himself, and is not afraid to take risks and lose, because he is confident that he will succeed.
Walton's kindness to people was not ostentatious, but sincere. It is characteristic that he never advertised his charity. Having lived my whole life in small provincial towns, he's good knew their problems. Building new shop, he forced his employees to find out the addresses of local charities. In order to make contributions later.
There is only one boss, and that is the buyer. He can fire any employee of the company, up to and including the director, simply by spending the money elsewhere.
By 1979 the number Wal-Mart stores grew to 230, and their annual revenue exceeded $1 billion.
Sam Walton died on April 5, 1992 from multiple myeloma. Forbes magazine estimated Walton's net worth in 1992 at $58.6 billion.
Dear readers, I want to give you an Audiobook by Sam Walton “Made in America. How I Created Wal-Mart." Happy listening!
The Walton family, which owns a controlling stake in Wal-Mart, increased its combined wealth by nearly $14 billion on Thursday, November 16th. This comes after the retail giant reported sharp revenue growth and a 50% rise in online sales in the last quarter. Wal-Mart shares rose 3% in the first three hours of trading as investors applauded. latest news from Bentonville, Arkansas.
Technology and innovation have been central themes in the company's reporting. “We have expanded our online pickup locations, launched Mobile Express Returns, and are testing automated pickup locations,” said Doug McMillon, president and chief executive officer. Executive Director Wal-Mart. “We are also trying to automate some standard functions in our stores.”
Wal-Mart closed its deal to buy online retailer Jet.com in late 2016 to better compete with online giant Amazon, and it appears to have made sense.
Founded in 1962 by Sam Walton, the company has more than 5,000 stores and branches in the United States and employs 1.5 million people. Three of Sam Walton's heirs - Rob, Alice and Jim - are among the 20 richest people in the world.
According to Forbes Real Time, Jim and Alice's wealth increased by $3.9 billion by 11:00 pm Thursday New York time, Rob's wealth increased by $3.8 billion. Jim took 14th place on the list richest people in the world with a fortune of $46.4 billion. Robson Walton is next in 15th place with $46.2 billion, Alice is in 16th place in the ranking with $46.1 billion.
What are the Waltons known for?
Rob Walton, Sam Walton's eldest son, ran the retail business for 23 years before retiring in June 2015. Jim, the youngest of Sam Walton's children, was the last to hold a key position at Wal-Mart. He resigned from his post in June 2016. Meanwhile, Alice only daughter Sam, positioned herself as a patron of the arts and did not work at Wal-Mart like her brothers. With a personal art collection worth hundreds of millions of dollars, she opened the Bristol Museum of American Art in Arkansas in 2011.
There are four other billionaire heirs in the Wal-Mart clan. This is Lucas Walton, Sam's grandson, who inherited his fortune when his father, John, died in a plane crash in 2005. Now his fortune has increased by $1.1 billion in one day and now stands at $15.7 billion, which is enough to place him in 84th place among the richest people in the world. His mother, Christy Walton, who also inherited her fortune after John's death, grew to $7.3 billion. Also on November 16, Ann Walton Kroenke and Nancy Walton Laurie, daughters of Bud Walton, Wal-Mart co-founder and Sam's brother, became rich. Their fortunes are estimated at $6.6 billion and $5.8 billion, respectively. Thus, the family became rich by $13.9 billion per day. In total, family members, according to Forbes, amount to this moment have $174.1 billion.
Wealth dynamics
The Waltons were already richest clan, according to Forbes version 2016. But then the magazine estimated their combined wealth at only $130 billion. During that year, the Walton family became poorer by $19 billion (in 2015, their total wealth was $149 billion), due to new information about charitable gifts made by Sam Walton's son John before his death in a plane crash in 2005. Bloomberg reported in November 2015 that John Walton had written off half of his $17 billion fortune during his lifetime. charitable foundations, and a third - only son Lucas. Following these reports, Forbes in 2016 reduced its estimate of John Walton Christie's widow from $41.7 billion to $5.2 billion.
Samuel Robson Walton
Rob Walton's father, Sam, started as a clerk at J.C. Penney. In 1945, he opened a shop “everything for 15 cents”, but went bankrupt within five years. In 1962, together with his brother James, he opened a supermarket in Bentonville (Arkansas). Today Wal-Mart has $405 billion in annual sales, 2 million employees and 8,400 stores. Since 1992, Rob Walton has served as chairman of the board of directors of Wal-Mart.
Brothers and sisters may well become worthy business partners and successfully develop family business. The Walton family is proof of this. The founder of family wealth, Sam Walton opened several small shops, which then, with the participation of his children, grew into a huge chain of supermarkets. At the moment there are about six and a half thousand of them. Moreover, his heirs are engaged not only in the development of the family empire, but also in others, no less important matters. Rob Walton works on business ecology, John (died in 2005) was known as a lobbyist for education reform. Their sister Ellis is acquiring American art for the new museum in Bentonville.
The Walton family's fortune is estimated at approximately fifty billion dollars. Over the past few years commercial network Wal-Mart (the name of the Walton family corporation) is considered largest company in the world. One of the secrets of success can be expressed in the phrase: “Always low prices. Always". In addition, an effective store management system has been created, based on several effective principles. This is savings in everything, mastering related specialties, the opportunity career growth for employees, family management style, live communication with employees, developing your own culture and philosophy and some more effective techniques. Employees work according to the principle “it is better to do one thing, but perfectly, than twenty, but unsatisfactorily.” In America, the Wal-Mart chain of stores has national status. Many outlets work around the clock, seven days a week. The portrait of an ordinary buyer is a hard worker with an average income, and the bet is placed on him. The three pillars of Wal-Mart culture are respect for the individual, service to customers, and the pursuit of excellence.
Walton family business secrets
What in the 1960s began as family business from a few shops has grown into a global empire of 6,500 supermarkets. Sam Walton, who started the business, died in 1992, leaving his share of the company as an inheritance to his wife and four children. S. Robson Walton is the current chairman of the board of directors. In general, Sam Walton's heirs own about forty percent of the shares in Wal-Mart (as the company is now called).
Wal-Mart is the world's largest retail chain, with approximately 6,782 stores in 14 countries. These are hypermarkets, department stores selling food and industrial goods. Wal-Mart's strategy includes such components as maximum assortment and minimum prices, aiming for wholesale prices.
For several years in a row, Helena Walton, her three sons and daughter have topped the list of America's richest families. Their fortune is estimated at $45-50 billion. At least half of it was earned by the deceased head of the family, Sam Walton, who, according to Forbes magazine, ranks 11th on the list of the richest Americans in US history.
The key principle is that Wal-Mart stores open in residential areas, not in the center. The second invention of Sam Walton is that in huge stores he managed to preserve the atmosphere of a tiny shop, where you can have a heart-to-heart chat with a familiar salesman and make a purchase in between. The attractiveness of Walton stores to customers is not only the assortment or low prices. It's also a friendly atmosphere. Sam Walton often said: “There is one boss - the buyer. He can remove anyone in the company - from the director to the loader - by simply spending the money elsewhere. "The larger Wal-Mart stores become, the more we must avoid megalomania while maintaining a small-store atmosphere." Walton himself set an example - he communicated with store personnel as often as possible, and demanded the same from members of the company's board of directors: “The most best ideas came to us from clerks and warehouse workers (among them - free parking at the store and permission to take carts with goods directly to the car). If you take care of store employees, then they, in turn, will take care of customers in the same way.” All his life, Walton, as an ordinary sales agent, drove a pickup truck. And once, having lost some argument to his partner David Glass, he danced the Hawaiian national dance hula on Wall Street in a Hawaiian grass skirt. After that, his stores only had more clients.
Sam Walton formulated ten universal commandments for success:
1. Be committed to the business.
2. Share profits with partners (as he called the store staff).
3. Motivate your partners.
4. Discuss problems with partners.
5. Appreciate what your partners do.
6. Celebrate success.
7. Listen to each partner.
8. Anticipate customer expectations.
9. Control expenses.
10. Swim above the current.
There are also more valuable comments: “Small store owners can easily coexist next to Wal Mart if they create their own niche. For example, they will specialize in paints, which are presented in limited quantities at Wal Mart.”
Over the past three years, the American retail chain Wal-Mart has been considered the largest corporation in the world. The company was at the top of the Global 500 ranking of the American magazine Fortune in 2001 (its turnover then amounted to $220 billion). For the first time in the entire half-century history of compiling the rating, the first line in it was taken by a company engaged not in production, but exclusively in trade. At the end of last year, Wal-Mart's capitalization was $263 billion, and its profit was $9.05 billion.
At the same time, unlike most modern multinational corporations, the American retail chain reached the top of the Fortune charts without participating in mega-mergers and acquisitions.
One of the secrets of Wal-Mart's success lies in the phrase: “Always low prices. Always". The second is in creation effective system management of each of the 5.5 thousand stores of the chain, where today more than 1.5 million people work. (Wal-Mart is also the largest employer in the Global 500).
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