2. Everyone who enters the business world longs to exit victorious. When a persondecides to become a businessman, it is a choice that he made perhaps out ofwhim or true ambition; nevertheless, whatever the fuel, the desired end-result isthe same.
3. The people who decide to become businessmen, dreamt to be successful at it. Theydream to make fruitful gains from their endeavors; they dream to leave great legaciesbehind. They long to one day be called a true entrepreneur; and they dream to beable to change the world in any way that they can.
4. Sam Walton, founded Wal-mart, a now very popular store chain in America. When he died,in 1992, he left the world with $25 billion and a chain of his stores spread throughout America,Europe and South America. He was even able to open a chain of supermarket chains inJapan. His success in the business world has made him truly remarkable in the field.
5. What he was able to achieve istruly admirable and he partedfrom this world leaving a true legacy that everyone can learn from. Here are his 10 valuable lessons :
6. Rule # 1 :Commit to your business.Believe in it more than anything else. If you love your work, youll be out thereevery day trying to do the best you can, and pretty soon everybody aroundwill catch the passion from you - like a fever.
7. Rule # 2 : Share your profits with all your associates, and treat themas partners.In turn, they will treat you as a partner, and together you will all performbeyond your wildest expectations.
8. Rule # 3 : Motivate your partners.Money and ownership arent enough. Set high goals, encourage competitionand then keep score. Make bets with outrageous payoffs.
9. Rule # 4 : Communicate everything you possibly can to yourpartners.The more they know, the more theyll understand. The more they understand, the more theyllcare. Once they care, theres no stopping them. Information is power, and the gain you getfrom empowering your associates more than offsets the risk of informing your competitors.
10. Rule # 5 : Appreciate everything your associates do for thebusiness.Nothing else can quite substitute for a few well-chosen, well-timed, sincerewords of praise. Theyre absolutely free and worth a fortune.
11. Rule # 6 : Celebrate your success and find humor inyour failures.Dont take yourself so seriously. Loosen up and everyone around you will loosenup. Have fun and always show enthusiasm. When all else fails put on a costumeand sing a silly song.
12. Rule # 7 : Listen to everyone in your company, and figure outways to get them talking. The folks on the front line – the ones who actually talk to customers - are the only ones who really know whats going on out there. Youd better find out what they know.
13. Rule 8 : Exceed your customers expectations. If you dotheyll come back over and over.Give them what they want - and a little more. Let them know you appreciate them.Make good on all your mistakes, and dont make excuses - apologize. Stand behindeverything you do. `Satisfaction guaranteed will make all the difference.
14. Rule # 9 : Control your expenses better than your competition.This is where you can always find the competitive advantage. You can make alot of mistakes and still recover if you run an efficient operation. Or you can bebrilliant and still go out of business if youre too inefficient.
15. Rule # 10 : Swim upstream.Go the other way. Ignore the conventional wisdom. If everybody is doing itone way, theres a good chance you can find your niche by going exactlyin the opposite direction.
16. Today, Wal-Mart is the world’s #1 retailer, with more than 4,150 stores, includingdiscount stores, combination discount and grocery stores, and membership-onlywarehouse stores (Sam’s Club). What have you learned from Sam Walton?
17. “Commit to your business. Believe in it more than anybody else.” Thank You Very Much Sompong Yusoontorn