195: How to Make $149 Billion for Your Family: Sam Walton’s Made in America BOOK REVIEW

“Commit to your business.. Believe in it more than everybody else. You can overcome shortcomings by bringing sheer passion to your work.” – Sam Walton

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People say you should only take advice from people who have actually done what you want to do. Not just written or spoken about it, but actually done it.

Well, if you want to make money, there’s absolutely NO ONE you should pay more attention to than Sam Walton, founder of Wal-Mart and Sam’s, whose remaining family currently possesses a net worth of $149 billion from Sam’s business ventures.

How did he do it? In the book “Made In America,” he lays out the 10 more important tips that helped him achieve what he did, and I’m giving them to you in today’s book review. So take notes, because you will probably never get 10 tips from anyone quite as qualified to give them to you in your life! Enjoy!

“In business, motivate your partners with more than money. Continually think of new ways to motivate and challenge them.” – Sam Walton

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Key Takeaways

  • Commit to your business. Believe in it more than everybody else. You can overcome shortcomings by bringing sheer passion to your work
  • Share your profits with all your associates and treat them as partners. Encourage associates to hold stake in the company
  • Motivate your partners with more than money. Continually think of new ways to motivate and challenge
  • Communicate everything you possibly can to your partners. The more they know they more they will understand and care
  • Appreciate everything your associates do for your business. This will buy more than a simple paycheck
  • Celebrate your success, and find some humor in your failures. Loosen up!
  • Listen to everyone in your company and figure out ways to get them talking. The people on the front lines are the only ones who really know what’s going on
  • Exceed your customers expectations
  • Control your expenses better than your competition does. This is where you can always find a competitive advantage
  • Swim upstream. Go the other way. Ignore the conventional wisdom. This is how you can find your niche

Resources

“Mad in America” by Sam Walton

  • Robert

    James, it’s time to tell your dad you love him.