Book Review of Sam Walton’s Made in America

This is a riveting story  full of inspirational and sometimes funny anecdotes about what they call the “rules of the road” of both Main Street and Wall Street, Sam Walton chronicles the inspiration, heart, and optimism that propelled him to lasso the American Dream.

If I had to single out one element in my life that has made a difference for me, it would be a passion to compete. Read more at location 89

It’s a story about believing in your idea even when maybe some other folks don’t, and about sticking to your guns. But I think more than anything it proves there’s absolutely no limit to what plain, ordinary working people can accomplish if they’re given the opportunity and the encouragement and the incentive to do their best. Read more at location 94

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. Read more at location 164

Then I got to know Helen’s family, and listening to her father, L. S. Robson, was an education in itself. 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. Read more at location 178

Note: Another mentor for him

The principle behind this is simple: the best way to reduce paying estate taxes is to give your assets away before they appreciate. Read more at location 195

Note: Reminds me that Mark Shepard had his kids own part of his farm before it was anything other than a field.

It wasn’t lavish or exorbitant, and that was part of the plan—to keep the family together as well as maintain a sense of balance in our standards. HELEN WALTON: “It was great moneywise, but there was another aspect to it: the relationship that was established among the children and with the family. It developed their sense of responsibility toward one another. You just can’t beat that. Read more at location 197

Here’s the thing: money never has meant that much to me, not even in the sense of keeping score. If we had enough groceries, and a nice place to live, plenty of room to keep and feed my bird dogs, a place to hunt, a place to play tennis, and the means to get the lads good educations—that’s rich. Read more at location 212

We all love to fly, and we have nice airplanes, but I’ve owned about eighteen airplanes over the years, and I never bought one of them new. Read more at location 215

Note: So far I can say I’ve never bought a new car, yet I’ve bought more cars than I needed so still not so wise.

CHARLIE BAUM, EARLY WAL-MART PARTNER: “I’ve known Sam since his first store in Newport, Arkansas, and I believe that money is, in some respects, almost immaterial to him. What motivates the man is the desire to absolutely be on top of the heap. It is not money. Money drives him crazy now. His question to me at 6 A.M. not long ago was ‘How do you inspire a grandchild to go to work if they know they’ll never have a poor day in their life? Read more at location 228

DAVID GLASS, CEO, WAL-MART: “Does Sam have money? I’ve been traveling with him for thirty years, and you could never tell it by me. In fact, if I didn’t read the proxy statement every year, I’d swear he was broke. I remember one time we were flying out of New York—on a commercial flight—going to see our friends at The Limited in Columbus, Ohio—and all of a sudden at the airport, Sam sort of looks startled and says, ‘David, I don’t have any money with me. Do you?’ I reached in my wallet and pulled out two twenties. He looked at them and said, ‘You won’t need both of those, let me borrow one. Read more at location 233

But sometimes I’m asked why today, when Wal-Mart has been so successful, when we’re a $50 billion-plus company, should we stay so cheap? That’s simple: because we believe in the value of the dollar. We exist to provide value to our customers, which means that in addition to quality and service, we have to save them money. Read more at location 249

Mother must have been a pretty special motivator, because I took her seriously when she told me I should always try to be the best I could at whatever I took on. So, I have always pursued everything I was interested in with a true passion—some would say obsession—to win. I’ve always held the bar pretty high for myself: I’ve set extremely high personal goals. Read more at location 265

Looking back on such boyhood episodes helps me to realize now that I’ve always had a strong bias toward action—a trait that has been a big part of the Wal-Mart story. Read more at location 281

I worry that it seems like I’m bragging or trying to make myself out to be some big hero. It particularly bothers me because I learned a long time ago that exercising your ego in public is definitely not the way to build an effective organization. One person seeking glory doesn’t accomplish much; at Wal-Mart, everything we’ve done has been the result of people pulling together to meet one common goal—teamwork—something I also picked up at an early age. Read more at location 282

Note: Reminds me of Ken Lay of Enron fame how he exercised his ego and put himself first. This I learned from the book “Give and Take” talking about givers and takers and Ken was a taker.

I guess I was just totally competitive as an athlete, and my main talent was probably the same as my best talent as a retailer—I was a good motivator. Read more at location 302

It taught me to expect to win, to go into tough challenges always planning to come out victorious. Read more at location 306

It never occurred to me that I might lose; to me, it was almost as if I had a right to win. Thinking like that often seems to turn into sort of a self-fulfilling prophecy. Read more at location 308

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. Read more at location 316

“Sam is one of those rare people who knows every janitor by name, passes plates in church, loves to join organizations. Read more at location 323

EZRA ENTREKIN, FORMER CIRCULATION MANAGER OF THE COLUMBIA MISSOURIAN: “We hired Sam to deliver newspapers, and he really became our chief salesman. When school started, we had a drive to get the kids in the fraternities and sororities to subscribe. And Sam was the boy we had do that because he could sell more than anybody else. He was good. He was really good. And dedicated. And he did a lot of other things besides deliver newspapers. In fact, he was a little bit scatterbrained at times. He’d have so many things going, he’d almost forget one. But, boy, when he focused on something that was it. Read more at location 336

He had been a barber in Odessa, Missouri, before he and his brothers started a variety store chain which had grown to around sixty stores by that time. I would talk with him about merchandising, how to do it, and how well it was working out for him. He took an interest in me, and later even offered me a job. Read more at location 346

Note: Kind of a mentor

I had a high school girlfriend whose father was a very successful salesman for General American Life Insurance Company, and I had talked to him about his business. Read more at location 349

Note: Another mentor or real life teacher

The deal was pretty straightforward—report to the JC Penney store in Des Moines, Iowa, three days after graduation, June 3, 1940, and begin work as a management trainee. Salary: $75 a month. That’s the day I went into retail, and—except for a little time out as an Army officer—that’s where I’ve stayed for the last fifty-two years. Maybe I was born to be a merchant, maybe it was fate. I don’t know about that kind of stuff. But I know this for sure: I loved retail from the very beginning, and I still love it today. Not that it went all that smooth right off the bat. Like I said, I could sell. And I loved that part. Unfortunately, I never learned handwriting all that well. Read more at location 357

Then, of course, the icing on the cake was when James Cash Penney himself visited the store one day. He didn’t get around to his stores as often as I would later on, but he did get around. I still remember him showing me how to tie and package merchandise, how to wrap it with very little twine and very little paper but still make it look nice. Read more at location 376

I worked for Penney’s about eighteen months, and they really were the Cadillac of the industry as far as I was concerned. But even back then I was checking out the competition. The intersection where I worked in Des Moines had three stores, so at lunch I would always go wander around the Sears and the Yonkers stores to see what they were up to. Read more at location 378

1945, I not only knew I wanted to go into retailing, I also knew I wanted to go into business for myself. My only experience was the Penney job, but I had a lot of confidence that I could be successful on my own. Our last Army posting was in Salt Lake City, and I went to the library there and checked out every book on retailing. I also spent a lot of my off-duty time studying ZCMI, the Mormon Church’s department store out there, just figuring that when I got back to civilian life I would somehow go into the department store business. The only question left was where we were going to set up housekeeping. Read more at location 404

Note: He loved it enough to read all the books about it

My naïveté about contracts and such would later come back to haunt me in a big way. Read more at location 434

But at the time I was sure 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. Read more at location 435

For all my confidence, I hadn’t had a day’s experience in running a variety store, so Butler Brothers sent me for two weeks’ training to the Ben Franklin in Arkadelphia, Arkansas. Read more at location 442

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. Read more at location 446

Note: Today we can check out our competitions website

HELEN WALTON: “It turned out there was a lot to learn about running a store. And, of course, what really drove Sam was that competition across the street—John Dunham over at the Sterling Store. Sam was always over there checking on John. Always. Looking at his prices, looking at his displays, looking at what was going on. He was always looking for a way to do a better job. I don’t remember the details, but I remember some kind of panty price war they got into. Later on, long after we had left Newport, and John had retired, we would see him and he would laugh about Sam always being in his store. But I’m sure it aggravated him quite a bit early on. John had never had good competition before Sam. Read more at location 449

I learned a tremendous amount from running a store in the Ben Franklin franchise program. They had an excellent operating program for their independent stores, sort of a canned course in how to run a store. It was an education in itself. They had their own accounting system, with manuals telling you what to do, when and how. They had merchandise statements, they had accounts-payable sheets, they had profit-and-loss sheets, they had little ledger books called Beat Yesterday books, in which you could compare this year’s sales with last year’s on a day-by-day basis. They had all the tools that an independent merchant needed to run a controlled operation. I had no previous experience in accounting—and I wasn’t all that great at accounting in college—so I just did it according to their book. In fact, I used their accounting system long after I’d started breaking their rules on everything else. I even used it for the first five or six Wal-Marts. Read more at location 455

Note: What can or do people use today? Quickbooks? How can it be improved? Is it as thorough

At the very beginning, I went along and ran my store by their book because I really didn’t know any better. But it didn’t take me long to start experimenting—that’s just the way I am and always have been. Read more at location 467

Note: Learn to expire meant in your business! Every day every week every month

I’ll never forget one of Harry’s deals, one of the best items I ever had and an early lesson in pricing. It first got me thinking in the direction of what eventually became the foundation of Wal-Mart’s philosophy. If you’re interested in “how Wal-Mart did it,” this is one story you’ve got to sit up and pay close attention to. Harry was selling ladies’ panties—two-barred, tricot satin panties with an elastic waist—for $2.00 a dozen. We’d been buying similar panties from Ben Franklin for $2.50 a dozen and selling them at three pair for $1.00. Well, at Harry’s price of $2.00, we could put them out at four for $1.00 and make a great promotion for our store. Read more at location 485

Here’s the simple lesson we learned—which others were learning at the same time and which eventually changed the way retailers sell and customers buy all across America: say I bought an item for 80 cents. I found that by pricing it at $1.00 I could sell three times more of it than by pricing it at $1.20. I might make only half the profit per item, but because I was selling three times as many, the overall profit was much greater. Simple enough. But this is really the essence of discounting: by cutting your price, you can boost your sales to a point where you earn far more at the cheaper retail price than you would have by selling the item at the higher price. In retailer language, you can lower your markup but earn more because of the increased volume. Read more at location 490

It was new and different—another experiment—and we really turned a profit on it. I paid off that $1,800 note in two or three years, and I felt great about it. I really didn’t want to be remembered as the guy who lost his shirt on some crazy ice cream machine. Read more at location 509

As good as business was, I never could leave well enough alone, and, in fact, I think my constant fiddling and meddling with the status quo may have been one of my biggest contributions to the later success of Wal-Mart. Read more at location 515

“I guess Mr. Walton just had a personality that drew people in. He would yell at you from a block away, you know. He would just yell at everybody he saw, and that’s the reason so many liked him and did business in the store. It was like he brought in business by his being so friendly. Read more at location 623

But this store was ahead of its time too, self-service all the way, unlike the competition. This was the beginning of our way of operating for a long while to come. We were innovating, experimenting, and expanding. Somehow over the years, folks have gotten the impression that Wal-Mart was something I dreamed up out of the blue as a middle-aged man, and that it was just this great idea that turned into an overnight success. It’s true that I was forty-four when we opened our first Wal-Mart in 1962, but the store was totally an outgrowth of everything we’d been doing since Newport—another case of me being unable to leave well enough alone, another experiment. And like most other overnight successes, it was about twenty years in the making. Read more at location 638

Note: More experiments and a 20 year overnight success

Of course I needed somebody to run my new store, and I didn’t have much money, so I did something I would do for the rest of my run in the retail business without any shame or embarrassment whatsoever: nose around other people’s stores searching for good talent. That’s when I made my first real hire, the first manager, Willard Walker. Read more at location 643

But he said I would get a percentage of the profits, and that appealed to me. When I went to quit TG&Y, the vice president said, ‘Remember, Willard, a percentage of nothing is still nothing.’ But I went ahead and took the job. Sam was down there every day from the time we started until the time we left. He rolled up his sleeves and worked every day until we built that store from scratch. Read more at location 651

shelf brackets to hold the merchandise. Then I went somewhere to look at what Sterling Stores was doing—most everything I’ve done I’ve copied from somebody else. Read more at location 668

I started raising money for the pavement, but it got real complicated, and in the end I decided I had better take my whipping, so I backed out of the whole deal and went back to concentrating on the retail business. I probably lost $25,000, and that was at a time when Helen and I were counting every dollar. It was probably the biggest mistake of my business career. I did learn a heck of a lot about the real estate business from the experience, and maybe it paid off somewhere down the line—though I would rather have learned it some cheaper way. Read more at location 701

DAVID GLASS: “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. Read more at location 707

Whatever money we made in one store, we’d put it in another new one, and just keep on going. Read more at location 740

Note: Re-investing the money into their own stores not the stock market or somebody else’s idea only what they controlled probably with a new best

Also, from Willard Walker on, we would offer to bring the managers we hired in as limited partners. If you had, say, a $50,000 investment in a store, and the manager put in $1,000, he’d own 2 percent. Read more at location 741

Note: Letting managers buy into the store is a way to keep them involved and caring about the profits

By now, you know me. I began looking around hard for whatever new idea would break us over into something with a little better payoff for all our efforts. Read more at location 752

Note: To expand kept looking for opportunities by looking at what others were doing

So I started running all over the country, studying the concept from the mill stores in the East to California, where Sol Price started his Fed-Mart in 1955. Read more at location 759

Nobody wanted to gamble on that first Wal-Mart. I think Bud put in 3 percent, and Don Whitaker—whom I had hired to manage the store from a TG&Y store out in Abilene, Texas—put in 2 percent, and I had to put up 95 percent of the dollars. Helen had to sign all the notes along with me, and her statement allowed us to borrow more than I could have alone. We pledged houses and property, everything we had. But in those days we were always borrowed to the hilt. We were about to go into the discount business for real now. And from the time those doggone Wal-Marts opened until almost today, it has been a little challenging. Read more at location 777

They thought Wal-Mart was just another one of Sam Walton’s crazy ideas. It was totally unproven at the time, but it was really what we’d been doing all along: experimenting, trying to do something different, educating ourselves as to what was going on in the retail industry and trying to stay ahead of those trends. Read more at location 838

a pretty conservative guy. But for some reason in business, I have always been driven to buck the system, to innovate, to take things beyond where they’ve been. Read more at location 841

And he took everything I said down on this yellow legal pad. Read more at location 850

Note: Sam took lots of notes not just trusting his memory

can tell you this, though: after a lifetime of swimming upstream, I am convinced that one of the real secrets to Wal-Mart’s phenomenal success has been that very tendency. Many of our best opportunities were created out of necessity. The things that we were forced to learn and do, because we started out underfinanced and undercapitalized in these remote, small communities, contributed mightily to the way we’ve grown as a company. Had we been capitalized, or had we been the offshoot of a large corporation the way I wanted to be, we might not ever have tried the Harrisons or the Rogers or the Springdales and all those other little towns we went into in the early days. It turned out that the first big lesson we learned was that there was much, much more business out there in small-town America than anybody, including me, had ever dreamed of. Read more at location 871

But this was really a small, small town, so number 8 was another experiment. Read more at location 890

 

ESP method, which really sped things along when it came time to close those books. It’s a pretty basic method: if you can’t make your books balance, you take however much they’re off by and enter it under the heading ESP, which stands for Error Some Place. Read more at location 927

CHARLIE CATE: “Sam had us send our sales report in every week, and along with it we had to send in a Best Selling Item. I mean we had to. What he was doing was teaching us to look for what’s selling all the time. You had to look because you had to send in this report every week, and if you reported that nothing was selling well, Mr. Walton would not be happy. He would think you weren’t studying your merchandise, and in that case he’d come study it for you. He’s been that way ever since I first met him in 1954. Read more at location 982

Note: He wanted people to be aware of what was selling best which meant they had the truck when I was selling and take notice and then figure out why it would be the key

I suspect I have emphasized item merchandising and the importance of promoting items to a greater degree than most any other retail management person in this country. It has been an absolute passion of mine. It is what I enjoy doing as much as anything in the business. I really love to pick an item—maybe the most basic merchandise—and then call attention to it. We used to say you could sell anything if you hung it from the ceiling. So we would buy huge quantities of something and dramatize it. We would blow it out of there when everybody knew we would have only sold a few had we just left it in the normal store position. Read more at location 988

A part we had better always hold on to. Over the years, I’ve had so much fun with this, and it really is amazing how much merchandise you can move with just a little promotion. Read more at location 1025

“We have a lot of fun with all this item promotion, but here’s what it’s really all about. The philosophy it teaches, which rubs off on all the associates and the store managers and the department heads, is that your stores are full of items that can explode into big volume and big profits if you are just smart enough to identify them and take the trouble to promote them. It has been a real key to helping this company dramatically increase its sales per square foot. Read more at location 1062

Another way we tried hard to make up for our lack of experience and sophistication was to spend as much time as we could checking out the competition. It’s something I did from the beginning, and it’s something I insisted all our managers do. Read more at location 1085

But underneath that personality, I have always had the soul of an operator, somebody who wants to make things work well, then better, then the best they possibly can. Read more at location 1323

If you want the people in the stores to take care of the customers, you have to make sure you’re taking care of the people in the stores. That’s the most important single ingredient of Wal-Mart’s success. Read more at location 1349

was never really comfortable with debt. But I recognized it as a necessity of doing business, and I had gotten pretty good at accumulating it. Read more at location 1543

I always did pay them off on time, but sometimes I would borrow from one to pay the other. I had bought a bank in Bentonville, for about $300,000, just a little old bank with only about $3.5 million in deposits. But it really helped me learn a lot about financing things. I made some new acquaintances and began to study more about bankers and how they liked to do business. Read more at location 1546

As long as we’re managing our company well, as long as we take care of our people and our customers, keep our eye on those fundamentals, we are going to be successful. Read more at location 1756

If I were a stockholder of Wal-Mart, or considering becoming one, I’d go into ten Wal-Mart stores and ask the folks working there, “How do you feel? How’s the company treating you?” Their answers would tell me much of what I need to know. Read more at location 1758

What’s really worried me over the years is not our stock price, but that we might someday fail to take care of our customers, or that our managers might fail to motivate and take care of our associates. Read more at location 1786

But while the big guys were leapfrogging from large city to large city, they became so spread out and so involved in real estate and zoning laws and city politics that they left huge pockets of business out there for us. Read more at location 1816

This saturation strategy had all sorts of benefits beyond control and distribution. From the very beginning, we never believed in spending much money on advertising, and saturation helped us to save a fortune in that department. Read more at location 1831

I’ve been asked if I was a hands-on manager or an arm’s-length type. I think really I’m more of a manager by walking and flying around, and in the process I stick my fingers into everything I can to see how it’s coming along. I’ve let our executives make their decisions—and their mistakes—but I’ve critiqued and advised them. My appreciation for numbers has kept me close to our operational statements, and to all the other information we have pouring in from so many different places. In that sense, I think my style as an executive has been pretty much dictated by my talents. I’ve played to my strengths and relied on others to make up for my weaknesses. Read more at location 1903

But if you asked me am I an organized person, I would have to say flat out no, not at all. Being organized would really slow me down. In fact, it would probably render me helpless. I try to keep track of what I’m supposed to do, and where I’m supposed to be, but it’s true I don’t keep much of a schedule. I think my way of operating has more or less driven Loretta Boss, and later Becky Elliott, my two secretaries, around the bend. My style is pretty haphazard. Read more at location 1914

Except for reading my numbers on Saturday morning and going to our regular meetings, I don’t have much of a routine for anything else. I always carry my little tape recorder on trips, to record ideas that come up in my conversations with the associates. I usually have my yellow legal pad with me, with a list of ten or fifteen things we need to be working on as a company. My list drives the executives around here crazy, but it’s probably one of my more important contributions. Read more at location 1930

“I think one of Sam’s greatest strengths is that he is totally unpredictable. He is always his own person, totally independent in his thinking. As a result, he is not a rubber-stamp manager. He never rubber-stamps anything for anyone. Read more at location 1943

He finally convinced me. If you take someone who lacks the experience and the know-how but has the real desire and the willingness to work his tail off to get the job done, he’ll make up for what he lacks. And that proved true nine times out of ten. It was one way we were able to grow so fast. Read more at location 2000

The larger truth that I failed to see turned out to be another of those paradoxes—like the discounters’ principle of the less you charge, the more you’ll earn. And here it is: the more you share profits with your associates—whether it’s in salaries or incentives or bonuses or stock discounts—the more profit will accrue to the company. Why? Because the way management treats the associates is exactly how the associates will then treat the customers. And if the associates treat the customers well, the customers will return again and again, and that is where the real profit in this business lies, not in trying to drag strangers into your stores for one-time purchases based on splashy sales or expensive advertising. Read more at location 2163

The decision we reached around that time, to commit ourselves to giving the associates more equitable treatment in the company, was without a doubt the single smartest move we ever made at Wal-Mart. Read more at location 2228

I learned this early on in the variety store business: you’ve got to give folks responsibility, you’ve got to trust them, and then you’ve got to check on them. Read more at location 2318

Keeping so many people motivated to do the best job possible involves a lot of the different programs and approaches we’ve developed at Wal-Mart over the years, but none of them would work at all without one simple thing that puts it all together: appreciation. All of us like praise. Read more at location 2364

From day one, we just always found the folks who had the qualities that neither Bud nor I had. And they fit into the niches as the company grew. Read more at location 2592

And, as I’ve said, we’ve certainly borrowed every good idea we’ve come across. Read more at location 2636

Culturally, things seem so different—like sitting on the floor eating eels and snails—but people are people, and what motivates one group generally will motivate another. Read more at location 2638

As we’ve grown, we’ve gotten away from the circus approach, but we’ve made it a point to keep encouraging the spirit of fun in the stores. We want the associates and the management to do things together that contribute to the community and make them feel like a team, even if they don’t directly relate to selling or promoting our merchandise. Here are a few of the crazy kinds of things I’m talking about: —Our Fairbury, Nebraska, store has a “precision shopping-cart drill team” that marches in local parades. The members all wear Wal-Mart smocks and push their carts through a routine of whirls, twirls, circles, and crossovers. Read more at location 2689

But he uses it for basically three purposes: to share information, to lighten everybody’s load, and to rally the troops. Believe it or not, the majority of our folks wouldn’t miss a Saturday morning meeting for anything. Read more at location 2755

A strong corporate culture with its own unique personality, on top of the profit-sharing partnership we’ve created, gives us a pretty sharp competitive edge. But a culture like ours can create some problems of its own too. The main one that comes to mind is a resistance to change. Read more at location 2812

I’ve forced change—sometimes for change’s sake alone—at every turn in our company’s development. Read more at location 2816

But if you get too caught up in that good life, it’s probably time to move on, simply because you lose touch with what your mind is supposed to be concentrating on: serving the customer. Read more at location 2860

But I’m going to say it again anyway: the secret of successful retailing is to give your customers what they want. And really, if you think about it from your point of view as a customer, you want everything: a wide assortment of good quality merchandise; the lowest possible prices; guaranteed satisfaction with what you buy; friendly, knowledgeable service; convenient hours; free parking; a pleasant shopping experience. You love it when you visit a store that somehow exceeds your expectations, and you hate it when a store inconveniences you, or gives you a hard time, or just pretends you’re invisible. Read more at location 2870

Quite a few smaller stores have gone out of business during the time of Wal-Mart’s growth. Some people have tried to turn it into this big controversy, sort of a “Save the Small-Town Merchants” deal, like they were whales or whooping cranes or something that has the right to be protected. Read more at location 2935

Of all the notions I’ve heard about Wal-Mart, none has ever baffled me more than this idea that we are somehow the enemy of small-town America. Nothing could be further from the truth: Wal-Mart has actually kept quite a number of small towns from becoming practically extinct by offering low prices and saving literally billions of dollars for the people who live there, as well as by creating hundreds of thousands of jobs in our stores. Read more at location 2937

But I can also tell you this: if we had gotten smug about our early success, and said, “Well, we’re the best merchant in town,” and just kept doing everything exactly the way we were doing it, somebody else would have come along and given our customers what they wanted, and we would be out of business today. Read more at location 2959

Unless small merchants are already doing a great job, they’ll probably have to rethink their merchandising and advertising and promotional programs once a discounter arrives on the scene. They need to avoid coming at us head-on, and do their own thing better than we do ours. It doesn’t make any sense to try to underprice Wal-Mart on something like toothpaste. That’s not what the customer is looking to a small store for anyway. Most independents are best off, I think, doing what I prided myself on doing for so many years as a storekeeper: getting out on the floor and meeting every one of the customers. Let them know how much you appreciate them, and ring that cash register yourself. That little personal touch is so important for an independent merchant because no matter how hard Wal-Mart tries to duplicate it—and we try awfully hard—we can’t really do it. Read more at location 2977

I don’t care how many Wal-Marts come to town, there are always niches that we can’t reach—not that we won’t try. Read more at location 2988

“Kmart was opening so many stores it was regarded as the Genghis Khan of the discounting business. Sam has always been clear about his attitude: ‘Meet them head-on. Competition will make us a better company. Read more at location 3161

The way I approached managing the business, I always tried to maintain a sense of hands-on, personal supervision—usually by flying around to take a look at our stores on a regular basis. But from the very beginning, even on my paper routes in college, I have also been a delegator, trying to hire the best possible people to manage our stores. Read more at location 3524

Here’s the point: the bigger Wal-Mart gets, the more essential it is that we think small. Because that’s exactly how we have become a huge corporation—by not acting like one. Read more at location 3556

Here are six of the more important ways we at Wal-Mart try to think small: Read more at location 3585

Think One Store at a TimeRead more at location 3586

So we know what we have to do: keep lowering our prices, keep improving our service, and keep making things better for the folks who shop in our stores. Read more at location 3590

We have to do it store by store, department by department, customer by customer, associate by associate. Read more at location 3592

 

DAVID GLASS: “We believe that we have to talk about and examine this company in minute detail. I don’t know any other large retail company—Kmart, Sears, Penney’s—that discusses their sales at the end of the week in any smaller breakdown than by region. We talk about individual stores. Read more at location 3605

Communicate, Communicate, Communicate If you had to boil down the Wal-Mart system to one single idea, it would probably be communication, because it is one of the real keys to our success. We do it in so many ways, from the Saturday morning meeting to the very simple phone call, to our satellite system. Read more at location 3615

I want you to take a pledge with me. I want you to promise that whenever you come within ten feet of a customer, you will look him in the eye, greet him, and ask him if you can help him. Now I know some of you are just naturally shy, and maybe don’t want to bother folks. But if you’ll go along with me on this, it would, I’m sure, help you become a leader. It would help your personality develop, you would become more outgoing, and in time you might become manager of that store, you might become a department manager, you might become a district manager, or whatever you choose to be in the company. It will do wonders for you. I guarantee it. Now, I want you to raise your right hand—and remember what we say at Wal-Mart, that a promise we make is a promise we keep—and I want you to repeat after me: From this day forward, I solemnly promise and declare that every time a customer comes within ten feet of me, I will smile, look him in the eye, and greet him. So help me Sam. Read more at location 3648

Keep Your Ear to the GroundRead more at location 3662

What we guard against around here is people saying, ‘Let’s think about it.’ We make a decision. Then we act on it. Read more at location 3699

Push Responsibility—and Authority—DownRead more at location 3706

Force Ideas to Bubble Up This goes hand-in-hand with pushing responsibility down. We’re always looking for new ways to encourage our associates out in the stores to push their ideas up through the system. Read more at location 3730

“Let me tell you how Wal-Mart came to have people greeters. Read more at location 3749

he explained that he had a dual purpose: to make people feel good about coming in, and to make sure people weren’t walking back out the entrance with merchandise they hadn’t paid for. Read more at location 3753

Stay Lean, Fight BureaucracyRead more at location 3770

A SUCCESSFUL COMPANY: TEN RULES THAT WORKED FOR MERead more at location 3980

One I don’t even have on my list is “work hard.” If you don’t know that already, or you’re not willing to do it, you probably won’t be going far enough to need my list anyway. And another I didn’t include on the list is the idea of building a team. If you want to build an enterprise of any size at all, it almost goes without saying that you absolutely must create a team of people who work together and give real meaning to that overused word “teamwork.” To me, that’s more the goal of the whole thing, rather than some way to get there. Read more at location 3997

these rules are not in any way intended to be the Ten Commandments of Business. They are some rules that worked for me. But I always prided myself on breaking everybody else’s rules, and I always favored the mavericks who challenged my rules. Read more at location 4004

So pay special attention to Rule 10, and if you interpret it in the right spirit—as it applies to you—it could mean simply: Break All the Rules. Read more at location 4007

RULE 1: COMMIT to your business. Believe in it more than anybody else. I think I overcame every single one of my personal shortcomings by the sheer passion I brought to my work. Read more at location 4010

RULE 2: SHARE your profits with all your associates, and treat them as partners. Read more at location 4013

Encourage your associates to hold a stake in the company. Offer discounted stock, and grant them stock for their retirement. It’s the single best thing we ever did. Read more at location 4015

RULE 3: MOTIVATE your partners. Money and ownership alone aren’t enough. Constantly, day by day, think of new and more interesting ways to motivate and challenge your partners. Set high goals, encourage competition, and then keep score. Make bets with outrageous payoffs. Read more at location 4017

RULE 4: COMMUNICATE everything you possibly can to your partners. The more they know, the more they’ll understand. The more they understand, the more they’ll care. Once they care, there’s no stopping them. Read more at location 4020

RULE 5: APPRECIATE everything your associates do for the business. A paycheck and a stock option will buy one kind of loyalty. But all of us like to be told how much somebody appreciates what we do for them. We like to hear it often, and especially when we have done something we’re really proud of. Read more at location 4024

RULE 6: CELEBRATE your successes. Find some humor in your failures. Don’t take yourself so seriously. Loosen up, and everybody around you will loosen up. Have fun. Show enthusiasm—always. Read more at location 4027

RULE 7: LISTEN to everyone in your company. And figure out ways to get them talking. The folks on the front lines—the ones who actually talk to the customer—are the only ones who really know what’s going on out there. Read more at location 4031

RULE 8: EXCEED your customers’ expectations. If you do, they’ll come back over and over. Give them what they want—and a little more. Let them know you appreciate them. Read more at location 4035

The two most important words I ever wrote were on that first Wal-Mart sign: “Satisfaction Guaranteed.” They’re still up there, and they have made all the difference. Read more at location 4037

RULE 9: CONTROL your expenses better than your competition. This is where you can always find the competitive advantage. For twenty-five years running—long before Wal-Mart was known as the nation’s largest retailer—we ranked number one in our industry for the lowest ratio of expenses to sales. Read more at location 4038

RULE 10: SWIM upstream. Go the other way. Ignore the conventional wisdom. If everybody else is doing it one way, there’s a good chance you can find your niche by going in exactly the opposite direction. Read more at location 4042

Here’s how I look at it: my life has been a tradeoff. 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. Read more at location 4073

Having now thought about this a lot, I can honestly say that if I had the choices to make all over again, I would make just about the same ones. Preachers are put here to minister to our souls; doctors to heal our diseases; teachers to open up our minds; and so on. Everybody has their role to play. The thing is, I am absolutely convinced that the only way we can improve one another’s quality of life, which is something very real to those of us who grew up in the Depression, is through what we call free enterprise—practiced correctly and morally. Read more at location 4077

A lot of people think it’s crazy of me to fly coach whenever I go on a commercial flight, and maybe I do overdo it a little bit. But I feel like it’s up to me as a leader to set an example. It’s not fair for me to ride one way and ask everybody else to ride another way. The minute you do that, you start building resentment and your whole team idea begins to strain at the seams. Read more at location 4144

As I’ve said, our country desperately needs a revolution in education, and I hope Wal-Mart can contribute at some level, if for no other reason than selfish ones. Read more at location 4152

You may have trouble believing it, but every time we’ve tested the old saying, it has paid off for us in spades: the more you give, the more you get. Read more at location 4155

Finally, a lot of folks ask me two related questions all the time. The first one is could a Wal-Mart-type story still occur in this day and age? My answer is of course it could happen again. Somewhere out there right now there’s someone—probably hundreds of thousands of someones—with good enough ideas to go all the way. It will be done again, over and over, providing that someone wants it badly enough to do what it takes to get there. It’s all a matter of attitude and the capacity to constantly study and question the management of the business. Read more at location 4156

The second question is if I were a young man or woman starting out today with the same sorts of talents and energies and aspirations that I had fifty years ago, what would I do? The answer to that is a little harder to figure out. I don’t know exactly what I would do today, but I feel pretty sure I would be selling something, and I expect it would be at the retail level, where I could relate directly to customers off the street. I think I’d study the retail field today and go into the business that offered the most promise for the least amount of money. Read more at location 4160

Book Review of The Art of Learning: An Inner Journey To Optimal Performance by Josh Waitzkin


This is my review of the fascinating story of Josh’s journey from chess prodigy to push hands world champion. Below are some of the highlights of this wonderful read.

Searching for Bobby Fisher – Book and Movie

His dedication to learning and studying to be great is amazing.  I had no clue about the world of competitive chess including the mentors and coaching necessary to excel.

He was an athletic kid who discovered chess at the age of six and it was almost as if he understood parts of the game intuitively.

Searching for the next bobby fisher. Is a book and movie his dad wrote about him.

He tells many a story about his time spent learning and competing in the world of chess.

He looked back at some moments in chess he called the “Soft Zones” when he became part of the moment.  He studied that and has tips and techniques for creating these moments when necessary.

He tells how he dealt with challenges and distractions from music to players kicking him, shaking the board etc.  Often he would turn a challenge or distraction into an advantage.  Start thinking to the beat of the music, not to react to the kicks by being distracted.  Taking a break to go and run sprints or climb stairs to regain focus.

“Mental resilience is arguably the most critical trait of a world-class performer, and it should be nurtured continuously….When uncomfortable, my instinct is not to avoid thediscomfort but to become at peace with it….My instinct is always to seek out challenges as opposed to avoiding them.”  p 60

He then talks about his downward spiral in chess competitions.

I took from this a few things:

I like his explanation of playing chess the way that matched his personality and when he didn’t he didn’t play as well.  – so he wasn’t working through his strengths.

He notes “pressing for wins in equal positions often results in losing” – you need to really know your circumstances especially after things have changed from one where you were at an advantage and now are not at one.  Pressing forward as if you still have an advantage can be costly.

How can you apply this to life and business?

The film Searching for Bobby Fischer came out when he as 16 – and this added fame as a challenge and distraction.

“As a competitor I’ve come to understand that the distance between winning and losing is minute, and, moreover, that there are ways to steal winds from themaw of defeat.  All great performers have learned this lesson.” p 63

He talks about being present rather than being stuck in time.

He speaks about two coaches with very different techniques – one nurturing and the other shock and awe of breaking you down.

He mentions reading the books “On the road”, The Dharma Bums and the Tao Te Ching.  – “The Tao Te Ching’s windom cnters on releasing obstructions to our natural insight, seeing false constructs for what they are and leaving them behind.”

While  competing in chess he He was introducted to Tai Chi and then later Push Hands competitions

And  moved on to Martial Arts and eventually winning world championships.  Once again the dedicated he has for learning and competing is amazing.  He has a drive for challenging himself and getting the most out of himself.

Then chapter on “Investment in Loss” – you need to be challenged enough that you lose and then learn from it to advance.

“Investment in loss is giving yourself ot the learning process”

“…it is essential to have a libverating incremental approach that allows for times when you are not in a peak performance state.  We must take responsibility for ourselfes, and not expect the rest of the world to understand what I takes to become the best that we can become.”  Great ones are willing to get burned time and agin as they sharpen their swords in the fire.”  Michael Jordan making more last minute shots…also missing more

Making smaller circles. Chapter 11 – breaking things down into small steps – be the tortoise who continues prodding along on your goals.

12 Using adversity

3 Critical steps in a resilient performer’s evolving relationship to chaotic situations.

1.       “First we have to learn to be at peace with imperfection.” p 126

2.       …Learn to use imperfection to our advantage

3.       Create ripples in our consciousness…so we are constantly inspired whether or not external conditions are inspiring.:

When it came to competing in martial arts he took a challenge of having a hurt right arm to learn to use his left.

The challenge of dealing wit illegal hits lead him to learn ow to deal wit the fear of being hurt and learning to protect himself which took away the opponents advantage of using the illegal techniques.

He also learned to concede certain moves of holds thus conserving his energy and putting a wrinkle in the opponents plans. – much like his practicing the end game of chess and thus being better when getting to that part of the game.

Chapter Searching for the zone

Starts with this chapter “How can I learn to enter the zone at will, make it a way of life? How can I maintain my focus under pressure, stay serene and principled under fire, overcome distraction?  What do I do when my emotions get out of control?”

In this chapter he talks about some techniques he learned when he went to the Human Performance Institute formerly LGE in Orlando, Florida.

He realized he performed better after a relaxation break – so use time between moves to take a break.  Quarterbacks and NBA stars also implemented this.

Clear you mind

And also a training technique of cardio vascular interval training – getting his heart rate up to 170 take a minute break to get it down to 144  and then go hard again.

This helped him with his ability to relax and recover between arduous thought processes in a chess game.

Chapter – Building Your Trigger

He gives techniques for dealing with stress and how to create routines to get into the zone.  And how to shorten getting into the zone for all of us so we can turn it on and focus when we need to.

Example what is a time when time flies by?  Preceding this time add some other enjoyable activities then end with the time you are in the zone.

Then you shorten the time spent doing the preceding events and or use those times before you want to be in the zone/attentive at a meeting for example rather than doing the thing you are naturally in the zone doing.

Meditation – Thought being just practice it and realize you will have thoughts but release them and come back to focus on your breath.

Chapter Making Sandals

Deals with what to do with your feelings and emotions.

Can you do you take those emotions and channel them into a deeper focus?

“Then there are those elite performers who use emotion, observing their moment and then channeling everything into a deeper focus that generates a uniquely flavored creativity.” p 200

He covers thoughts around anger, ego, and fear.

“I had to develop the habit of taking on my technical weaknesses whenever someone pushed my limits instead of falling back into a self-protective indignant pose. Once that adjustment was made, I was free to learn. If someone got into my head, they were doing me a favor, exposing a weakness. They were giving me a valuable opportunity to expand my threshold for turbulence. Dirty players were my best teachers. ”  p 206

“The only way to succeed is to acknowledge reality and funnel it, take the nerves and use them. We must be prepared for imperfection.  If we rely on having no nerves, on not being thrown off by a big miss, or on the exact replication of a certain mindset, then when the pressure is high enough, or when the pain is to piercing to ignore, ore ideal state will shatter”

On how the Great chess player Garry Kasparov – champion for nearly 20 years dealt with a lack of confidence in an upcoming match

“Garry responded that he would try to play the chess moves that he would have played if he were feeling confident.  He would pretend to feel confident, and hopefully trigger the state.”

Kate Hagerty Interview: Intuition, Purpose and Life Coaching

In this week’s podcast, I had a great conversation with Kate Hagerty, a career, life purpose, intuitive and relationship coach. We met at Toast Masters and known each other for several years. Kate used to work in the corporate world for 30 years – in sales, marketing and advertising – making her way up the ladder and on the verge of making it to top of the play field, she realized that she needed something more from life.

Below are some of the great points during our conversation.

Turning point – being unhappy and just didn’t care about the results. Kate began to ask herself some powerful questions about what she really want to do with her life – she was miserable and unhappy and she didn’t want to continue having to deal with that.

Most people not really clear about their purpose.

Growing up, she had an intuitive gift but ignored it.

“You are gifted and keep moving.”

Working with people once didn’t really get anywhere.

It’s smart to start paying attention to your intuition.

Turn off the ‘chatter’ part of the brain to focus more on the more important things.

Start meditating.

When you step out of the house in the morning, pay attention – there are lots of interesting things happening around.

What you look for, you can find.

“Miracle Morning” – focus on what thought and see where that leads you.

We are so hard on ourselves and expect we are going to be good at meditation the first time we try it – some people need guided meditation, some need silence or music. It’s a challenge. It’s a process.

Kate got very unhappy in 2011 and tried different coaching certifications – to figure out herself and help her clients.

Do you want your health or do you want your benefits?

“I will never tell someone miserable to quit tomorrow.” Kate

You can be an empathic person but if you haven’t gone through something and suddenly meet someone who has, you can’t really completely understand.

Even though it’s scary, it is worthy in the end because it’s exciting – you are doing what you’re supposed to do.

Tell the truth without being mean.

You’re usually the average of the 5 people you spend your time with.

Are we supportive of each other? Do we support and learn from one another?

Don’t be around toxic people. Just because they’re family doesn’t mean you have to be around them.

Accountability partners are key to being successful for some people.

For a ‘solopreneur’ – you got to have an array of people to help you out.

Delegate the things you hate to do so you can focus on the things you love.

James Altucher – write down at least 10 ideas a day

Kate’s 8 Ways to Increase Your Intuition

(1) Meditate

(2) Work with angel or oracle cards

 (3) Pay attention when you step out of the house with all five senses

(4) Test out the intuitive hunches you get; try following one and not following another and see what you experience

(5) Feel instead of think

(6) Listen to your body

(7) Learn from the past

(8) Do not call yourself crazy; trust what you “get”

To learn more about Kate, visit her website at www.soulpurpose.biz

About Kate Hagerty

Kate is a Career, Life Purpose & Relationship Intuitive Coach. She helps professionals discover their true life purpose and the specific next steps they need to take to align their life with what they REALLY came here to do, so they can finally find peace, clarity and direction. Learn more at www.soulpurpose.biz

kate@soulpurpose.biz

(303-562-8530)

 

 

Book Review of The Go-Giver: A Little Story about a Powerful Business Idea

I just had the amazing time of reading this powerful book The Go-Giver: A Little Story about a Powerful Business Idea by Bob Burg, John David Mann. 

It is a captivating book that shines new light to the old adage “Give and you shall receive.” I highly recommend this book for those who are just starting their business, planning on starting one or even those who’ve been in the game for a long time.

The Go-Giver is the story of a young man named Joe, very ambitious and determined to reach the greats, who has always been on the lookout for success. Joe is a quintessential go-getter, though he felt like the more he reaches his arms out to achieve something and the harder he plays, the farther he seemed was in getting the results he wanted . Below are some of the key points I absolutely loved in this book. Enjoy!

Five Laws of Stratospheric Success.

  1. THE Law of Value:   Your true worth is determined by how much more you give in value than you take in payment.  – The First Law determines how valuable you are.
  2. The Law of Compensation : Your income is determined by how many people you serve and how well you serve them.  – the Second Law that determines how much you actually do earn.
  3. The Law of Influence: You influence is determined by how abundantly you place other people’s interests first.
  4. The Law of Authenticity: The most valuable gift you have to offer I yourself.
  5. The Law of Receptivity: The key to effective giving is to stay open to receiving.

“Typically, the more successful they are, the more willing they are to share their secrets with others.”

Lesson: find successful mentors via books, blogs, YouTube or in real life when you can.

“But to get really, really big, to reach the kind of stratospheric success we’re talking about, people need to have something on the inside, something that’s genuine.’”

Lesson: let your genuine show, share your inspiration and interests     

The secret of “Giving” – give more value than people pay for.  In business you must give before you receive.  Must make and save money before you profit from money.

“So you’re saying, successful people keep their focus on what they’re…giving, sharing”

“Most of us have grown up seeing the world as a place of limitation rather than as a place of inexhaustible treasures. A world of competition rather than one of co-creation.”

“Here’s what you do get—you get what you expect.”

So make sure you have positive expectations for yourself, for others as well as for outcomes.

“Or put it another way: What you focus on is what you get. “

Go looking for the best in people, and you’ll be amazed at how much talent, ingenuity, empathy and good will you’ll find.

Lesson: once again change your outlook to change the outcome.  Look for the positives and the opportunities you want and you are much more likely to find them.  Change any negative outlooks into positive ones.

“The world treats you more or less the way you expect to be treated.”

The Law of Compensation

“I need you to agree that you will test every Law I show you by actually trying it out. Not by thinking about it, not by talking about it, but by applying it in your life.”

Lesson: taking action in applying something you learn is the only way to change your life, your future.  And habits are only formed when you take action.  I look at sharing ideas with others as taking action.  Otherwise what good is it to have a lot of knowledge?     

“The guy radiates success,” he thought. “It’s not just money, it’s something far more powerful than money.”

“A very useful thing to remember: appearances can be deceiving.”

Underneath that jovial, bigger-than-life Italian chef persona there was a powerful sense of focus and intention.

  • “Everyone likes to be appreciated.”
  • “And that’s the Golden Rule of business,”
  • “All things being equal—”
  • “—people will do business with and refer business to those people they know, like and trust.”

“A bad restaurant, tries to give just enough food and service, both in quantity and quality, to justify the money it takes from the customer. A good restaurant strives to give the most quantity and quality for the money it takes.

“But a great restaurant— ahh, a great restaurant strives to defy imagination! Its goal is to provide a higher quality of food and service than any amount of money could possibly pay for

“Your true worth is determined by how much more you give in value than you take in payment.”

Questions

  1. “The first question should be, ‘Does it serve?
  2. Does it add value to others?’
    1. If the answer to that question is yes, then you can go ahead and ask,
    2. Does it make money?’”

 

“Exceed people’s expectations, and they’ll pay you even more.”

“But the point isn’t to have them pay you more, it’s to give them more. You give, give, give. Why?” “Because you love to. It’s not a strategy, it’s a way of life. And when you do,” he added with a big grin, “then very, very profitable things begin to happen.”

This is what many of the successful people online are doing these days, they give away lots of advice and content for free and in many cases most of their content and advice for free and this leads to opportunities.     

What would you do for free?  Give for free?

“All the great fortunes in the world have been created by men and women who had a greater passion for what they were giving—their product, service or idea—than for what they were getting”

THE LAW OF VALUE   Your true worth is determined by how much more you give in value than you take in payment.

5: The Law of Compensation     

“True worth is determined by how much more you give in value than you take in payment     “

“The First Law determines how valuable you are,”

“Your income is determined by how many people you serve and how well you serve them.”

“Or to put it another way, your compensation is directly proportional to how many lives you touch.” And the impact your make on those lives

Lesson: so if you are trying to make more money how can you server more people?  This is obvious to those of us in business and is usually the question we all try to answer to get more sales.

This makes me think of all the new ways to attract customers which include:

  • free content on YouTube
  • free or cheap ebooks or whitepapers which explain what you do
  • growth hacking strategies where you build growth into your product or offering

“If you want more success, find a way to serve more people. It’s that simple.”

“It also means there are no limitations on what you can earn, because you can always find more people to serve.”

If you are a personal coach you can reach more people when you record your coaching and offer it online.  You record it once and thousands or millions of people can learn from you.

 

The Reverend Martin Luther King, Jr., ‘Everybody can be great because anybody can serve.’

‘Everybody can be successful because anybody can give.’”

THE LAW OF COMPENSATION

Your income is determined by how many people you serve and how well you serve them. Some of these tasks she enjoyed more than others. However, she approached each one as though she loved it. She did this by reminding herself that, regardless of how much or how little she cared for the task itself, she relished the opportunity to survive, save and serve. 661

“Survive, save and serve?” 664

“They are the three universal reasons for working.”

  1. Survive—to meet your basic living needs.
  2. Save—to go beyond your basic needs and expand your life.
  3. And serve—to make a contribution to the world around you.”

“Changing my focus from seeing what I could git to what I could give was when my career started to take off. Started to. But in a business like mine—actually, in any business—you also need to know how to develop a network

I don’t necessarily mean your customers or clients. I mean a network of people who know you, like you and trust you

This could be a spouse, an accountability partner, a business partner, parents or friends who all want to see you succeed or as the book says they always have you in the backs of their minds.  And you feel the same about them.

 

They might never buy a thing from you, but they’ve always got you in the backs of their minds.”

“They’re people who are personally invested in seeing you succeed, you see? And of course, that’s because you’re the same way about them. They’re your army of personal walking ambassadors.

“You want to know what makes that kind of network happen?  Stop keeping score”

“Just that. Don’t keep track. That’s not networking—that’s poker. You know how people say ‘win-win’?”

“Always look for the solution where you both come out ahead.”

I often want others to succeed so there are other people to hang out with during the working week!  So a win-win could be to help others find financial freedom so they can spend more time with you.  This can be applied to a spouse as well.

“That’s right, and it sounds great—in theory. But most of the time, what people call ‘win-win’ is really just a disguised way of keeping track. Making sure we all come out even, that nobody gets the advantage. Even-Steven. I scratched your back, so now you owe me.” He shook his head sadly. “When you base your relationships—in business or anywhere else in your life—on who owes who what, that’s not being a friend. That’s being a creditor.”

“You want to know the Third Law of Stratospheric Success?”

“Watch out for the other guy. Watch out for his interests. Watch his back. Forget about fifty-fifty, son. Fifty-fifty’s a losing proposition. The only winning proposition is one hundred percent. Make your win about the other person, go after what he wants.

“Forget win-win—focus on the other person’s win “

The Third Law, the Law of Influence:   “Your influence is determined by how abundantly you place other people’s interests first.”

“Your influence is determined by how abundantly you place other people’s interests first.” 751

“Because if you place the other person’s interests first, your interests will always be taken care of. Always. Some people call it enlightened self-interest. Watch out for what other people need, with the faith that when you do, you’ll get what you need.”

What creates influence? Putting other people’s interests first.

  1. Helping
  2. Encouraging
  3. Teaching

Givers Attract “They love to give. That’s why they’re attractive. Givers attract

“Givers attract,” … “And that’s why the Law of Influence works. Because it magnetizes you.”

The next part of the book is referencing an interaction between a husband and wife where they each get 30 minutes to talk about their day with each other:

Fifty-fifty’s a losing proposition. It was Sam, of course. Even-Steven. I scratched your back, so now you owe me…that’s not being a friend, that’s being a creditor. 

The Law of Authenticity

A genuinely sound business principle will apply anywhere in life—in your friendships, in your marriage, anywhere. That’s the true bottom line. Not whether it simply improves your financial balance sheet, but whether it improves your life’s balance sheet.”

“I believe there is one reason, and only one reason, that we have stayed together so long and are as happy together today as we were forty-eight years ago—more so, in fact. That reason is this: I care more about my wife’s happiness than I do about my own. All I’ve ever wanted to do since the day I met her is make her happy. And here’s the truly remarkable thing—she seems to want the same thing for me.”

    The next part of the book is when a lady is speaking at a conference, she recounts when she came to the conference as a down and out real-estate agent. 

“… importance of adding value to what you sell. ‘Whatever it is you sell,’ he told us, 942

‘Whatever it is,’ he said, ‘you can excel by adding value. If you need money,’ he said, ‘add value. And if you need a lot of money, add a lot of value.’

‘What if you need a lot of money fast?’ … ‘Then find a way to add a lot of value fast

“I learned something that day. When I said that my life as a mom, wife and household manager left me with nothing the marketplace wanted, I was wrong. There was something else I’d learned over those years, and that was how to be a friend. How to care. How to make people feel good about themselves. And that, my friends, is something the marketplace wants very much—always has, always will.

Reminds me of the saying people will always remember how you made them feel.   

“The speaker at that symposium had said, Add value. I had nothing to add but myself. “And, apparently, that was exactly what’d been missing.” 975

I’m here because I have the awesome responsibility and honor of selling you something far more valuable than a house.  “What I’m here to sell you on is you.

“People, remember this: no matter what your training, no matter what your skills, no matter what area you’re in, you are your most important commodity. The most valuable gift you have to offer is you

“Reaching any goal you set takes ten percent specific knowledge or technical skills—ten percent, max. The other ninety-plus percent is people skills. “

The core of it is who you are. It starts with you. “As long as you’re trying to be someone else, or putting on some act or behavior someone else taught you, you have no possibility of truly reaching people. The most valuable thing you have to give people is yourself. No matter what you think you’re selling, what you’re really offering is you.”

“You want people skills?” she repeated. “Then be a person.” She looked around from face to face. “Can you do that? Will you do that?”

She looked to the left and to the right, again, meeting the gaze of dozens of individuals. “It’s worth ten thousand times more than all the closing techniques that ever have been or ever will be invented.

“It’s called authenticity

Authenticity.

The Fourth Law THE LAW OF AUTHENTICITY: The most valuable gift you have to offer is yourself.

The Law of Receptivity

How many of us have heard it is better to give than receive?  How many have taken this to heart and accepted it as true?

This was very interesting to me since I’d rather give than receive, this chapter points out how that really doesn’t work.  Also I realized that if you are a giver you need to only give to those who are open to receive and in many cases those who are going to receive help and multiply it with their own work. 

“It’s not better to give than to receive. It’s insane to try to give and not receive. “Trying not to receive is not only foolish, it’s arrogant. When someone gives you a gift, what gives you the right to refuse it—to deny their right to give?

“In fact, every giving can happen only because it is also a receiving.”

Every giving can happen only because it is also a receiving….

“All the giving in the world won’t bring success, won’t create the results you want, unless you also make yourself willing and able to receive in like measure. Because if you don’t let yourself receive, you’re refusing the gifts of others—and you shut down the flow.

This makes me think of the law of attraction. If you are not open to receiving then you will not have as many opportunities to receive.

Because human beings are born with appetite, nothing is more naturally geared toward being receptive than a baby, and if the secret of staying young, vibrant and vital throughout life is to hang onto those most precious characteristics we all have as children but which get drummed out of us— like having big dreams, being curious, and believing in yourself— then one of those characteristics is being open to receiving, being hungry to receive, being ravenous to receive!”

“So the secret to success,” Joe went on, “to gaining it, to having it, is to give, give, give. The secret to getting is giving. And the secret to giving is making yourself open to receiving

“The Law of Receptivity.”

The Fifth Law THE LAW OF RECEPTIVITY   The key to effective giving is to stay open to receiving. 1190

“The point is not what you do. Not what you accomplish. It’s who you are. 1217

Review of Mastermind Talks Podcast: Personal Branding, You’re Doing It Wrong


I recently listened to this amazing Mastermind Talks podcast with Jason Gaignard when he interviewed Joey Coleman about personal branding. Joey is a celebrated speaker and has done coaching in over a decade – mostly on personal branding framework.

If you’re an entrepreneur, you’re missing on a lot if your personal branding is unclear – it is of utmost importance to focus on your personal brand, its attributes and what really your business stands for. It will also get you clarity on where your business is headed.

Below are some of the best points spoken about in the podcast:

  • How you package and present yourself/your brand is hugely important.
  • What is a personal brand?
  • Personal brand is the image that is created in a person’s mind when they connect with your name, specific skills and reputation.
  • It is what people perceive – it’s making conscious choices. When you meet a person, you are instantly and constantly formulating opinions. By default, people judge and critique.
  • There’s 2 aspects: what you think of your personal brand and what others think.
  • Your personal brand enters the room the same time as you do. Are you happy about what other people have to say about your personal brand?
  • Philip McKernan – the more successful we become, the less we recognize how successful we are.
  • Getting outside perspective helps us identify the things we are great at that we often do not acknowledge.
  • All of us have natural skills – and now we have learned skills and you can be world class with our learned skills.
  • Being able to take complex ideas and make them simple, persuade people how to get things done.
  • A friend is not someone who tell you what you want to hear, a friends is someone who tells you what you NEED to.
  • Friends, mentors to give you feedback about your personal brand
  • Clarify and explore, look into what you want your personal brand to be.
  • What would do for the rest of your life even if you don’t get paid to do it? There should be a piece of your current job that you want to be part of your personal brand.
  • (Self-assessment) Strength-finders, DISC, Kolbe Test
  • There’s a voice inside you that knows what you are best at.
  • It’s the pursuit that makes it more exciting.
  • The most successful people I know have a lot of things they’re passionate about – they don’t go all in on one things because then you’ll be one-dimensional. Multi-dimensional people are more successful.
  • There is a skill you have you don’t have to lead with a particular skill. – just because you’re good at fixing things doesn’t mean you have to lead with that.
  • Be more specific, more clear about what you do and who you serve.
  • The human brain can only associate 2-3 areas in an individual we know.
  • 3 Step Process – investigation, Refining, Packaging
  • Reinventing your personal brand every 5-7 years.
  • Philip McKernan – Where you’re busy seeking out opportunities we often miss the possibilities.
  • 5 years – making a vision for your personal brand/business for 5 years is more manageable.
  • I want to go deep in dozens of different areas, I want to go medium in hundreds of different areas and I want go shallow or at least have a small understanding on thousands of different areas in life, because that’s what keeps it interesting for me. – Joey Coleman
  • As you are getting more comfortable with your personal brand, you get to make unconventional choices.

Recap of the 3 Step Process:

Investigate

  • What are the elements of your personal brand? All the things you love, all the things you’re fantastic at. What are these specific things you are world-class in.

Refine

  • Pick and choose which one you want to go after? If someone hears your name, they thing about these things?

Package

  • How can I share this with the world? How can I position myself with these types of project? How can I get it out? How can I make my brand unique?

If you are interested, subscribe to Mastermind Talks podcast on iTunes if you are an Apple user and Stitcher for Android.

The Mindful Athlete by George Mumford Book Review

I came across this book The Mindful Athlete: Secrets to Pure Performance by George Mumford and in this week’s podcast, I will share with you the inspirational passages I highlighted in this book.

Now, if you are a basketball fan, you would know who Phil Jackson is – amazing coach of former NBA champions Chicago Bulls and LA Lakers. He brought in George Mumford to transform their game and start winning.

George Mumford had a very interesting beginning – he was playing basketball for the University of Massachusetts when injuries forced him to walk away from the game he was truly passionate about. Things at home weren’t helping as his dad was an alcoholic so George started doing drugs starting from marijuana to pain medications like heroin. Through meditation, he was able to kick the addiction away.

Now, George is a well-respected public speaker and sports coach and in this book, he shares his story and strategies. Countless of basketball players, even the great Michael Jordan himself, credited Mumford for changing the way they played the game. His proven techniques transform the performance of anyone with a goal, be they an Olympian, weekend warrior, executive, hacker, or artist.

Below are some of my best highlights in the book to guide you through:

  • A lot of athletes think the trick to getting better is just to work harder but there is a great power in non-action and non-thinking. Just be fully present in the moment. – Phil Jackson
  • Life is available only in the present moment. Thich Nhat Hanh – what matters is what we are doing now.
  • Learning about stress management.
  • We are all chipping away to get to our masterpiece even if we grew up on the wrong side of the tracks. – you can become whoever you want.
  • We all have divine spark within in us. – there is something in us that we should express. Slowing down and thinking, “What do I really want to do in my life?” Our passions may change.
  • Buddha – my teaching is not a dogma. It is a method to teach reality, it’s just a finger pointing at the moon.
  • He talks about Buddha’s Eight-Fold Path and his 5 Spiritual Faculties: Diligence, Faith, Mindfulness, Concentration, Insight
  • Each of us is a completely unique creature.
  • Open your funky mind.
  • No one told him when he was young that he can alter his mind – he turned to drugs.
  • We emerge into the light not by denying our pain but by walking through it. Joan Borysenko, PhD
  • The only way out is always through. Robert Frost
  • There might not be the right time to start. – it’s the journey, the first attempt might not work, the second might not.
  • But as many of us know, taking little steps into the right direction eventually you’ll dig results. – start taking baby steps even if you fall down.
  • Be inquisitive – ask questions
  • God grant me the serenity to accept the things I cannot change, the courage to take the things I can.
  • Listen to your body.
  • If you do follow your bliss, you put yourself on a kind of track that has always been there waiting for you. And the life you ought to be living, is the one you’re living.
  • Read all the books available aligned to your passion and interests.
  • He talks about the five superpowers: mindfulness, concentration, insight, right effort and trust – the fourth power (right effort or diligence) is the energy that makes us steadfast in our practice
  • Lovingkindness: The Revolutionary Art of Happiness by Sharon Salzburg
  • You can train your brain to focus
  • We have evolved to pay attention to dangerous things
  • The minute your mind is elsewhere, the present moment is gone.
  • The brain is a muscle, practice everyday.
  • Baseball is 90% mental, the other is physical, the other half is physical. – Yogi Berri

There are numerous motivational passages in this book that I haven’t covered in this podcast but I’ll leave it to you to discover. I highly recommend this book, it’s not just about sports – the things discussed and written here are applicable to both your personal and professional lives, may it be facing a career crossroads or just simply going through some personal changes.

Annette Sloan Interview: A Whole-hearted, Compassionate Health Coaching

Recently, I interviewed Annette Sloan – mind, body and nutrition coach and owner of Whole Hearted (healthyteengirls.com) which specializes in compassionate health coaching for women and teen girls – I met her last 2014 in toast-masters.

She shares with us her journey through achieving nutrition and healthy-living holistically, how she started the business and what inspired her, as well as her challenges and motivations.

Below are some of the notes highlighted to guide you through the podcast:

Annette’s road to being a mind, body and nutrition coach – went to college undecided about what path she wanted to take. She took communication but had a nutrition class – ended up being interested in it.

Shaylene Johnson, the writer of PUSH – spoke about kids and body image. “Never tell your kids they’re fat.”

Parents should be careful about things they say to their kids pertaining weight and body image. Be mindful when you’re around overweight kids.

Family should focus on a healthy lifestyle – make healthy choices, eat healthy food and all things that constitute healthy living in general.

Being healthy vs not eating enough – do I feel good?

Tai Lopez – our genetics may affect our nutrition.

Pay attention with what you feel – what really works for you. Get in touch with your body – listen to your body.

Working with teen girls – focus on girls to establish healthy relationship with food. Work on the areas where they are having problems with like too much focus on healthy eating which may be detrimental to achieving good nutrition.

Binge eating – she started when she was 16, she wasn’t overweight but wanted to lose weight.

Judging everything – what to eat etc

It’s common for adults to compare their plates to other people’s plates – parents should be great examples for their kids.

Mother-daughter dynamic

Shaylene Johnson – I’m not bragging about me, I’m modeling for my kids – so I need to be positive.

If you work out after eating, it keeps your blood sugar to spike.

There are so many factors that affect our body and the way it metabolizes food.

We should not say one is equal to the other.

It’s harder to get empathy when on you are on the opposite side of the spectrum (skinny people)

Nutrition and media – only half of the whole story is being told in the media

There is a connection with the mind and body – we are emotional beings, it’s much more complicated than just following rules on what to eat.

Stress – if we are stressed out, our body metabolizes food less efficiently.

Our DNA has not evolved much.

(Joel Salton) Animals we eat shouldn’t just be healthy – but have to be stress-free.

It’s not hard when you eat healthy because you want to and it makes you feel good nourishing your body with good food.

Wayne Dyer – people assume things are going to be hard but until you do it or accomplished it, you don’t know.

Annette – I was binge-eating because I wasn’t strong enough but it’s not the root – it’s self-compassion, it’s about loving ourselves more.

If it doesn’t work for you, try a different course – pick a different path.

Annette – my own journey was realizing what I’m doing wasn’t working.

The Mindful Athlete (book) – recommended

Annette – the idea is for women and girls to live in the world where they feel they are worthy.

How much time does a woman focus on about weight? About 50 to 80% when they are really struggling.

Do you recommend them cut out media and magazines?

Start focusing on something else so that weight issues start to fade away in the background.

Annette’s book recommendations:

Brene Brown – reasearcher and storyteller

  • Daring Greatly
  • Rising Strong
  • The Gifts of Imperfection

Failure is what stops people from achieving what they potentially can.

Elizabeth Gilbert (Eat, Pray, Love) – talk about how he was the biggest proponent of follow your passion but at this point, just follow your curiosity

Learn how to be curious again.

Free download “Overcoming Emotional Eating: A (w)holehearted Guide for Women and Teens” available at www.AnnetteSloan.com

www.annettesloan.com
E-mail: annetteysloan@gmail.com

Resources Annette recommends:

Books
By Marc David: The Slow Down Diet, Nourishing Wisdom
By Brene Brown: The Gifts of Imperfection, Daring Greatly, Rising Strong
By Geneen Roth: Bite By Bite: 7 Guidelines to Break Free from Emotional Eating

Web
Brene Brown’s TED Talks: The Power of Vulnerability and Listening to Shame
Cameron Russell’s TED Talk: Looks Aren’t Everything. Believe Me, I’m a Model.
The Institute for the Psychology of Eating blog

Annette’s ultimate vision: the world in which women and girls feel worthy exactly as they are.

Follow Annette on social media and visit her sites:

healthyteengirls.com

annettesloan.com

www.facebook.com/healthyteengirls

4 – Book Review of Mastermind Dinners by Jayson Gaignard

This is a Book review of Jayson Gaignard’s Mastermind Dinners: Build Lifelong Relationships by Connecting Experts, Influencers and Linchpins.

The book is well worth buying it on as an eBook or paperback. It is small and a quick read with a lot of tips. He shows you how he networks via dinners, lunches and coffee bringing like minded people together.

The kindle version is free on 12/23/2015 and 12/24/2015
Amazon link to the book.

He also gives you the audio version for free with a link inside the book.

His podcast is titled “Mastermind Talks Podcast“.

Let me know how your dinner goes!

How to subscribe, rate and review podcasts

This is a guide on how to subscribe, rate and review podcasts on your MAC or PC, iPhones and iPads.

How To Subscribe, Rate and Review Podcast on a Computer (MAC or PC)

Open iTunes, then:

  • Make sure that iTunes Store is selected.
  • Search in the iTunes Store for the mindset zone. Press return to start search.
  • From the result page, click on the Podcast Cover to open Podcast to Subscribe or Rate.

Now that you are already on the podcast page ie YourBusinessPodcast, these are the remaining steps:

  • Subscribe to the podcast by click the “Subscribe” button below the Podcast Cover.
  • Click on the option “Ratings and Reviews”.
  • Click on the number of stars you want to rate the podcast.
  • Write a sentence or two review of the podcast.
Reviewing or rating podasts is a great way of making the it gain more followers.
 
Rating and reviewing from your iPhone/iPad:
  • Launch Apple’s Podcast app.
  • Tap the Search tab.
  • Enter the name of the podcast you want to rate or review.
  • Tap the blue Search key at the bottom right.
  • Tap the album art for the podcast.
  • Tap the Reviews tab.
  • Tap Write a Review at the bottom.
  • Enter your iTunes password to login.
  • Tap the Stars to leave a rating.
  • Enter title text and content to leave a review.
  • Tap Send.

Brooke Chesnut Interview


This interview is with Brooke Chesnut who discusses all things Millennial relating to the workforce. Did you know by 2025 75% of all employees will be millennials?

Brooke Chesnut has dedicated 30 years to building successful Sales, Sales Leadership, Training, Consulting and Mentoring programs for multiple industries in Colorado.  He is an expert in guiding small & large organizations through the challenging generational issues that confront all companies today.

He specializes in transforming Millennials from being a liability into an engaged productive employee.  In todays workforce the Millennial factor has become the single most talked about challenge for any C-level executive.

How do we attract the best Millennial talent?  What processes need reviewing and why?  How do we retain Millennial employees?  These are only some of the issues that keep executives awake at night and for good reason.  By 2025, 75% of the US workforce will be occupied by the Millennial generation!

As of 2015 millennials are the largest generation surpassing the baby-boomers in numbers.  By 2025 75% of all employees will be millennials.

You always want to attract the best employees so it is important to know how to attract the best millennials.  The employees you are hiring now will be the leaders in your companies in the future.

Understand differences in millennials to attract, retain and train millennials.  Many are interested in professional growth and improved skills.

Brooke mentions he wasn’t great in his first sales job but a mentor took interest in him and helped him.  The mentor kept him accountable and held him to tasks.  The mentor suggested books to read. This reminds me of the book “The Go Giver”.

The millennials are hungry for knowledge so they can be receptive to mentoring.

When mentoring ask millennials how do you like to give and receive education and communication.

Millennials are looking for a work life blend rather than a work life balance.  Millennials like flexibility, I’m thinking who doesn’t when they are thinking about their own time. Millennials are the most educated generation having access to the internet for most of their life.

Millennials are multi-taskers which reminded me of the suggestion of working on something for only 25 to 45 minutes before taking a break.

Dual mentorship and reverse mentorship.

Most companies have a corporate ladder but millennials are looking for a corporate lattice.  Which allows them lots of experiences across an organization.  Many of the layers of management are now gone so millennials are looking for a lattice instead.  (Multi-directional career path)

Companies should focus on having:

  • creativity
  • flexibility
  • collaboration
  • teamwork, team project

Millennials embrace texting at a level never before seen.

Millennials expect instant feedback or at a minimum acknowledgement that a message or document they sent was received.  An example is hearing something back from them.

Greatest Fears of Millennials

  • Not getting professional development from employers
  • Not getting enough feedback – they want acknowledgement and they want to know now

Importance of a mentorship program

  • Giving or passing knowledge through to the younger generation
  • The millennials are starting to get bored because of the single direction mentorship is taking them – company should come up with reverse mentorship/dual mentorship (the younger intern hired is now a partner)
  • Mentor the older partner to be relevant in social media – connect to younger generation
  • More trust, communication, creativity

Millennials want to see videos/instructional videos – they want to be social versus a face to face meeting.

Voicemails are practically obsolete now – millennials prefer instant messaging and following up.

Companies using texting as a feedback

Millennials are inevitably invading the country with their progressive thinking and technology.

If you had a video on a landing page of your website, your will have a 68% chance of sales.

Companies that were financially rewarded because of mobile phones

  • Instagram
  • Uber
  • Airbnb

Hire the best…

Book/Reading Suggestions

Brooke suggests reading Jean M. Twenge’s book Geneation Me, Why Today’s Young Americans Are More Confident, Assertive, Entitled–and More Miserable Than Ever Before.

In this book, Dr. Jean Twenge explores why the young people she calls “Generation Me” are tolerant, confident, open-minded, and ambitious but also disengaged somehow. This is the book company owners should read to understand more about millennials who mostly run the business for them.

Dr. Twenge utilized feedback from 11 million respondents to reveal shocking truths about this generation and their impact on the progressing society as a whole.

There are also some great articles on Business Finance Magazine, one from Jeff Schwartz which tacked about shifting from the corporate ladder to the corporate lattice.

To contact Brooke Chesnut, visit www.BrookeChesnut.com or email him at Brooke@BrookeChesnut.com or 719.425.5099 to directly call his office.