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Running A Succesful Company: Ten Rules That Worked For Sam Walton - Coggle…
Running A Succesful Company: Ten Rules That Worked For Sam Walton
Rule 2: Share your profits with all your associates and treat them as partners
Treat them as partners.
Behave like a leader
Encourage your associates to hold a stake in the company
Rule 1: Commit to your business
Believe in your company
Love your work
Do it the best you
Rule 6: Celebrate your successes
Find some humor in your failures
Just relax
Show enthusiasm, always.
Rule 4: Communicate everything you possibly can to your partners
Communicate to partners
Empower your associates
Build trust
Rule 3: Motivate your partners
Set high goals
Have managers change jobs with each other
Make bets with outrageous payoffs.
Rule 7: Listen to everyone in your company
Listen to everyone's ideas
Find out what they know
Rule 5: Appreciate everything your associates do for the business
A paycheck
Recognize achievements
Sincere praise
Rule 8: Exceed your customers' expectations. If you do, they'll come back over and ove
r
Meet customer needs
Make good on all your mistakes, and don't make excuses.
Apologize
Rule 10: Swim upstream
Go in the opposite direction
Ignore the conventional wisdom.
Do not give up
Rule 9: Control your expenses better than your competition.
Allows you to find the competitive advantage
Maintain a lower ratio between expenses and sales
