A great book from a great man's perspective near the end of his life.

One of the things I enjoyed most about this book is how authentic it seems. Sam talks about his mistakes just about as often as his successes and is constantly giving credit to other people throughout the book.

A few key takeaways:
- Every time we spend one dollar foolishly, that's one dollar out of our customer's pockets. Every time we save them a dollar, it puts us one more step ahead of our competition.
- No one paid 5% of sales for rent.
- No matter how cheap they bought a product, they always kept their margins at 30% so they could pass the savings along to their customers.
- They created a P&L for each store.
- Sam worked 100 hours a week. He would work until 10 o'clock at night and then come in early for the Saturday meetings.
- If you want your employees to take care of your customers, then you must take care of your employees.
- His profit target was somewhere around 6% or higher to sales. This was a metric they used when opening so many stores.
- Sam operates on a 2% SGA budget to sales ratio.

Final thoughts about Sam. He was an incredibly hardworking, passionate, inquisitive man who seemed to have an unlimited sense of adventure. The book doesn't go out and say this, but it appears he was a very wise man. He was a man of faith and in his final years, he would ask a great question. Was it all worth it looking back at his career? A great question to ponder indeed.

Sam's story is truly inspiring. His work ethic and business acumen are something to be admired. The way he focused on the customer and his employees is a model for any successful business. His ability to constantly innovate and take risks is what set him apart from the competition.

This book is not just about Sam Walton and Walmart, but about the principles and values that can lead to success in any field. It's a must-read for anyone who wants to learn from one of the greatest business minds of our time.

2022-09-27 update:

This is such a great book. It's a pleasant surprise and one of the most heavily marked-up books I own. I will reread it many times. My favorite chapters are 1, 2, 3, and 4.

There are three important lessons to be learned:

1. Set high goals.


2. Have a bias for action.


3. Maintain an optimistic attitude - as described in chapter #3 "bouncing back" (similar to what Martin Seligman wrote about in Learned Optimism).

"I love competition."

"The whole thing was probably a blessing."

"You can learn from everybody."

Bonus tip #1: Read. "I went to the library there and checked out every book on retailing."

Bonus tip #2: Be frugal and understand the value of a dollar. "I'm cheap."

"Two things about Sam Walton distinguish him from almost everyone else I know. First, he gets up every day bound and determined to improve something. Second, he is less afraid of being wrong than anyone I've ever known. And once he sees he's wrong, he just shakes it off and heads in another direction." (p.50)

"It was a real blessing for me to be so green and ignorant, because it was from that experience that I learned a lesson which has stuck with me all through the years: you can learn from everybody. I didn't just learn from reading every retail publication I could get my hands on, I probably learned the most from studying what John Dunham was doing across the street." (p.29)

"But at the time the Newport and the Ben Franklin had great potential, and I've always believed in goals, so I set myself one: I wanted my little Newport store to be the best, most profitable variety store in Arkansas within five years. I felt I had the talent to do it, that it could be done, and why not go for it? Set that as a goal and see if you can't achieve it. If it doesn't work, you've had fun trying." (p.28)

"I learned early on that one of the secrets to campus leadership was the simplest thing of all: speak to people coming down the sidewalk before they speak to you." (p.19)

"When Sam Walton feels a certain way, he is relentless. He will just wear you out."

"Four-thirty wouldn't be all that unusual a time for me to get started down at the office. That early morning time is tremendously valuable: it's uninterrupted time when I think and plan and sort things out."

"I think one of Sam's great strengths is that he is totally unpredictable. He is always his own person, totally independent in his thinking."

"Now when it comes to Wal-Mart, there's no two ways about it: I'm cheap. I think it's a real statement that Wal-Mart never bought a jet until after we were approaching 40 million dollars in sales and expanded as far away as California and Maine, and even then they had to practically tie me up and hold me down to do it. On the road, we sleep two to a room, although as I've gotten older I have finally started staying in my own room."

LS Robson said, "He influenced me a great deal. He was a great salesman, one of the most persuasive individuals I have ever met. And I am sure his success as a trader and a businessman, his knowledge of finance and the law, and his philosophy had a big effect on me. My competitive nature was such that I saw his success and admired it. I didn't envy it. I admired it. I said to myself: maybe I will be as successful as he is someday." (p.7)

I also started selling magazine subscriptions, probably as young as seven or eight years old, and I had paper routes from the seventh grade all the way through college. I raised and sold rabbits and pigeons too, nothing really unusual for country boys of that era. I learned from a very early age that it was important for us kids to help provide for the home, to be contributors, rather than just takers. In the process, of course we learned how much hard work it took to get your hands on a dollar, and that when you did it was worth something. One thing my mother and dad shared completely was their approach to money: they just didn't spend it." (p.6)

"No question about it, a lot of my attitude toward money stems from growing up during a pretty hardscrabble time in our country's history: the Great Depression." (p.4)

"People can't understand why we're still so conservative. They make a big deal about Sam being a billionaire and driving an old pickup truck or buying his clothes from Walmart or refusing to fly first class." (p.6)

Sam's rules for building a business:

1. Commit to your business.


2. Share your profits with all your associates, and treat them as partners.


3. Motivate your partners.


4. Communicate everything you possibly can to your partners.


5. Appreciate everything your associates do for the business.


6. Celebrate your successes.


7. Listen to everyone in your company.


8. Exceed your customers' expectations.


9. Control your expenses better than your competition.


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

"As famous as Sam is for being a great motivator - and he deserves even more credit than he's gotten for that - he is equally good at checking on the people he has motivated. You might call his style: management by looking over your shoulder."

"Rule 10: swim upstream. Go the other way. Ignore the conventional wisdom. If everybody is doing it one way, there's a good chance you can find a niche by going in exactly the opposite direction. But be prepared for a lot of folks to wave you down and tell you you're headed the wrong way. I guess in all my years, what I heard more than anything was: a town of less than 50000 population cannot support a discount store for very long." (p.317)

"Here's how I look at it: my life has been a trade-off. If I wanted to reach the goals I set for myself, I had to get at it and stay at it every day. I had to think about it all the time. And I guess what David Glass said about me is true: I had to get up every day with my mind set on improving something. Charlie Baum was right too when he said I was driven by a desire to always be on the top of the heap. But in the larger sense - the life and death sense - did I make the right choices?" (p.320)

"Great ideas come from everywhere if you just listen and look for them. You never know who's going to have a great idea." (p.324)

"But all this requires overcoming one of the most powerful forces in human nature: the resistance to change. To succeed in this world, you have to change all the time." (p.324)

Inspiring

Inspiration is a powerful force that can drive us to achieve great things. It has the ability to transform our lives and make us believe that anything is possible.

We can find inspiration in many different places. It could be from a beautiful piece of art, a moving speech, or a kind act by someone else. Sometimes, inspiration comes from within ourselves, when we have a moment of clarity or a sudden burst of creativity.

When we are inspired, we feel a sense of excitement and motivation. We are eager to take action and pursue our goals. Inspiration gives us the courage to step out of our comfort zones and try new things.

However, inspiration doesn't always last. It can fade away if we don't take steps to nurture it. To keep the fire of inspiration burning, we need to surround ourselves with positive influences, continuously learn and grow, and take time to reflect on our experiences.

In conclusion, inspiration is a precious gift that we should cherish and cultivate. It has the potential to lead us to a life filled with purpose, passion, and success. So, keep your eyes and ears open, and let inspiration guide you on your journey.

This book had been sitting on my shelf for approximately a year or so. I thought to myself, “why not?” and decided to open it. I was hoping for yet another reliable book on business, one that would offer valuable insights from a genuine success story. I had read many such books before, and this simple paperback seemed like a great choice.

This unassuming paperback was, without a doubt, a genuine Walmart product. After just a few minutes of reading, I knew that I would need a highlighter and a pen. For the next two weeks, I carried these tools with me everywhere I went. Everywhere. As I delved deeper into the book, its spine began to crinkle, and it was soon covered in yellow highlights and black pen annotations, including my own notes, thoughts, and ideas. I spent two weeks completely immersed in this legacy-turned-management book.

This book truly captured Sam Walton’s voice and spirit, and I was immediately drawn in. There are numerous concepts within its pages that I would love to incorporate into my teaching or coaching, despite the fact that I am not in retail or a traditional “business” environment. In fact, I plan on using many of the highlights from “Made in America” in my Sociology class. I don’t know a great deal about Sam Walton as an individual, aside from my experiences in his stores and what I have learned from this book. I am aware that there are many critics, but I am not among them.

This is a fantastic read for any aspiring business or management professional, but it is also highly relevant for anyone in a leadership position at any level. Moreover, it may be a great fit for anyone who has ever set foot in a Walmart.

My only disappointment is that Sam Walton passed away in the early 1990s, and Walmart has grown exponentially since then. I wish there was a follow-up from its current CEO or a member of the Walton family.

Sam Walton was awarded the Presidential Medal of Freedom, and in my humble opinion, he richly deserved it.

This is a very inspiring book, and I consider Sam Walton himself to be one of the most wonderful entrepreneurs. It's not just because his company, Wal-Mart, has repeatedly topped the rankings of magazines like Fortune. Rather, it's for his professionalism, perseverance, goal-orientation, and his unique sense of humor.

Walton is the kind of person who seems to be born an entrepreneur, not become one. Although this may not be entirely true, yet the story of his life and his achievements in business are captivating. He is the entrepreneur who managed to transform his first small general store into a huge global retail empire with more than 10,000 sales points in 27 countries around the world.

And although Sam has been gone since 1992, this book remains to pass on his experience, values, and secrets of doing business, as well as to inspire people to achieve great things.

I have not enjoyed a book more than I did this one in a very long time.

I am 53 years old at the time I am writing this review. The nostalgia that I experienced reading this book was pure joy.

I can remember so much of what is talked about in this book. Granted, I do not remember any of it from any standpoint other than a little boy going to the TG&Y or any number of other stores talked about in this book and seeing all of the marketing ploys these marketers would participate in.

As you read this book, I am certain those of you who are near my age and older will have many of the same memories. In this aspect alone, the book was well worth the read.

I truly believe that this book would be helpful for a multitude of people. It is an absolute must-read for anyone employed by Wal-mart in any capacity. PERIOD! I believe much of what Sam believed in and founded his company on has been lost in their success.

This may be due to his death, or it may simply be a result of having become an international company. Simply put, much of the more basic attitudes that Sam brings to light in his story should be reinstituted within the company.

No spoilers here, you'll just need to get the book.

If you are a shareholder in the company, or are considering becoming one, this book is for you.

If you are a young person about to enter the workforce, this book is for you.

If you are an entrepreneur, this book is for you.

If you are in any way considering building a lasting business or career in retail sales, network marketing, or any type of investment company, this book is for you.

If you simply want to take a ride back in time a few years and relive some of the old variety store antics and growth methods they employed, this book is for you, and I promise you will enjoy the ride.

Please consider buying Sam Walton Made In America. This man's story will not disappoint.

*I do book reviews and more on The BigDaddyBigz Blog*

A great book that details the fascinating journey of how Sam Walton founded Wal-Mart and the numerous challenges they faced in the early days. It provides an in-depth look into the vision and determination of Sam Walton as he set out to build a retail empire. The book explores the various obstacles they encountered, such as competition from established stores, logistical difficulties, and financial constraints. Despite these challenges, Sam Walton and his team were able to overcome them through innovative strategies, hard work, and a focus on customer satisfaction. This book is not only a great read for those interested in the history of Wal-Mart but also for anyone looking for inspiration and lessons in entrepreneurship and business success.

A truly fantastic story unfolds when we explore the concepts of The American Dream, Free-Enterprise, and Capitalism. The American Dream has long been a symbol of hope and opportunity, attracting people from all over the world. It represents the idea that with hard work and determination, anyone can achieve success and prosperity.

Free-Enterprise is the engine that drives The American Dream. It allows individuals to start their own businesses, innovate, and compete in the marketplace. This system encourages entrepreneurship and creativity, leading to economic growth and development.

Capitalism, on the other hand, is the economic system that underpins Free-Enterprise. It is based on the principles of private ownership, profit motive, and market competition. Capitalism has proven to be a highly effective way of allocating resources and generating wealth, but it also has its critics who argue that it can lead to inequality and social injustice.

Despite its flaws, the story of The American Dream, Free-Enterprise, and Capitalism is one of great success and progress. It has created a nation of opportunity and prosperity, where individuals can pursue their dreams and achieve great things. However, it is also a story that is constantly evolving, as we strive to find a balance between economic growth and social responsibility.

Retail is a complex and fascinating field, and there are many excellent books that have been written about it.

However, one book stands out above the rest as being truly exceptional. It is a book that delves deep into the basic behavioral characteristics that drive decision making in the retail environment.

This book is not just any ordinary book; it is a masterpiece written by an author who has an intimate understanding of the subject matter.

Some might even go so far as to say that it was written by God himself, such is the depth and wisdom contained within its pages.

Whether you are a seasoned retailer or just starting out in the business, this book is a must-read. It will provide you with valuable insights and strategies that you can apply to your own retail operations to drive sales and improve customer satisfaction.

In conclusion, if you are looking for a book that will truly change the way you think about retailing and decision making, then look no further than this one. It is a book that will stay with you long after you have finished reading it.

Remember to rate the book, not the man.

I have a great affection for the style of this book. It is straightforward, without any beating around the bush, presenting the facts as they are (just like the man himself). I truly loved the quotes and thoughts from the family, colleagues, and associates who contributed to the empire that was Sam Walton.

However, I was bothered by the bully who worked tirelessly "to get the best prices for consumers," yet browbeat the vendors and salesmen. He was indeed smart and hard-working, but also intimidating. Was he fair? I'm not sure. I don't think so. Should one admire someone who has no scruples? The title of the book itself seems ironic/incongruent/inappropriate??? Gosh. I don't really want to dwell on that, but that's where my thoughts inevitably lead every time I think about how and why Sam Walton was so successful in growing his company.

Nonetheless, it was interesting to gain an understanding of the inner workings of how to build an empire. So, to avoid making further potentially negative comments, I'll stop here and simply say that it was a good book with interesting insights.

A truly brilliant tale unfolds before us, that of a startup that defied all odds and went on to become the largest company in terms of revenue. The basic philosophies that Sam Walton introduced into his retail and discount chains business have been the driving force behind this remarkable transformation.

One of the most remarkable aspects, in my opinion, was his fearless approach to copying ideas. One of his favorite pastimes was visiting the stores of his competitors and carefully observing what strategies worked for them. This allowed him to learn from their successes and apply those lessons to his own business. Another interesting practice was his habit of flying his plane around, scouting for ideal locations to start new stores.

When it comes to the book, it is a captivating account of a company that has revolutionized the way retail is conducted worldwide. Although it is an autobiography of Sam Walton, it is essentially a story about Walmart, mirroring his life. I wholeheartedly recommend this book to all startup enthusiasts. The sheer determination and perseverance he demonstrated in growing his company and ensuring its continued success serve as a model that everyone can look up to and follow.

It is a story that inspires and teaches valuable lessons about entrepreneurship, innovation, and the pursuit of excellence.

One of the main reasons that I read this book was to gain a more in-depth understanding of the retail business.

I am rating this book a four-star because his journey truly revolutionized the entire retail industry.

Another significant reason this book wasn't dull was because of the writing style.

I have picked up and learned numerous things from this book. The most important thing I learned was the ten rules of business that led to his success.

There were also additional aspects such as new and innovative concepts in the business.

I would highly recommend this book to those who are interested in entering the retail business or those who simply want to learn more about business in general.

This is an excellent starting point for learning about the retail industry and ways to expand it.

It provides valuable insights and practical knowledge that can be applied in various business settings.

Whether you are a beginner or an experienced entrepreneur, this book has something to offer.

So, if you're looking for a good read that can enhance your understanding of the retail business, this book is definitely worth checking out.