Sam Walton, the Founder of Wall-Mart: his story and success tips

Sam Walton's rules for buiding a great business

Set a goal and back it with a burning desire.

Sam Walton (1918 – 1992), the founder of
Wal-Mart and a self-made billionaire, pursued his vision and established a chain of big retail stores in rural areas.

Teaching by example, Sam Walton formulated his 10 Rules for Building a Successful Business.

Sam Walton: 10 Rules for Building a Successful Business

Sam Walton grew up poor in a farm community in rural Missouri during the Great Depression. The poverty he experienced while growing up taught him the value of money and to persevere.

Sam Walton's 10 Rules for Building a Successful Business

Rules 6 to 10

After attending the University of Missouri, he immediately worked for J.C. Penny where he got his first taste of retailing. He served in World War II, after which he became a successful franchiser of Ben Franklin five-and-dime stores.

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In 1962, he had the idea of opening bigger stores, sticking to rural areas, keeping costs low and discounting heavily. The management disagreed with his vision.

Undaunted, Sam Walton pursued his vision, founded Wal-Mart and started a retailing success story.

When Walton died in 1992, the family's net worth approached $25 billion.

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Swim upstream. Go the other way. Ignore the conventional wisdom.

Sam Walton

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Today, Wal-Mart is the world's #1 retailer, with thousands of stores, including discount stores, combination discount and grocery stores, and membership-only warehouse stores.

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