Business Rules by Sam Walton
Sam Walton Principles
Principle # 1: Be Faithful. Being faithful to what you do is a must for anyone who wants to succeed. Whatever happens, believe in your business, in your business and in your success.
Principle # 2: Bring in yourself generosity. Always be generous to your employees. They are an essential part of your company. Generously share with them everything that you get from the business, and never communicate with them “from top to bottom”. Treat them as partners, not as subordinates.
Principle 3: Disseminate information. Your employees should know about your company no less than you yourself. Give them any information related to your business.A better understanding of what is happening inside the company, they will be able to more effectively contribute to success.
Principle # 4: Show thanks. Sincere gratitude expressed at the right time and in the right place is a great way to stimulate employees to do even better work.
Principle # 5: Follow your path. Do not look around at others. Choose your own path and clearly follow your intended goal.
Principle # 6: Be mindful of your expenses. Instead of monitoring other companies, take your time. It’s better to keep track of your expenses than your competitors. This is much more useful.
Principle 7: Stay one step ahead. You need to know what your customers want in a week, month, year. Know when they themselves are not aware of this yet.
Principle 8: Take into account each person’s opinion. Each of your employees can carry much more value for business than you think at first glance. Listen carefully to everyone and try to find common ground with every, even the most ordinary employee.
Principle # 9: Admit your mistakes. Understanding where you made a mistake prevents you from making it again.
Principle 10: Do not take yourself too seriously. Learn to laugh at yourself and your actions. This helps to bring some immediacy into the harsh everyday life of a business.