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Sam Walton

Walmart, The Unlikely Beginning

The Early Beginnings of Walmart. Walton's 5&10 Store.

Before there was a Walmart there was Walton’s 5&10. Sam Walton had previous retail experience. Therefore, Sam Walton opened the Walton’s 5&10 in Bentonville Arkansas.

Why Bentonville of all places? It had everything Sam and his wife Helen wanted. It had a small town charm which pleased Helen. Also, the location was ideal for Sam’s love of hunting.

Due to the success of Walton’s 5&10 Sam Walton was inspired. Walton wanted to bring even more savings to people. Therefore, he opened the first Walmart in 1962.

The First Walmart

Grand opening of the first store.

This first store was located in Rogers Arkansas. Sam Walton had many naysayers in the early days. His competition didn’t believe he could be successful with the mindset of giving it’s customers a great product at a low price.

Growing the Walmart Family

Sign at the home office.

By 1967 the Walton family owned 24 stores. All of which were making a profit. Therefore, Sam Walton’s competition had been proven wrong. As it turned out Walton was right in thinking people wanted a value in their products. This led to many more advances with the business.

In 1971 the first distribution center opened. It was located in Bentonville along with a Home Office. Furthermore, the growth was being noticed in the stock market as well. The stock continued to steadily increase. Therefore, by the end of the 1970s, the Walton family began the Walmart Foundation.

Continuing the Legacy

Sam Walton makes good on his promise to hula on Wall Street.

In the 80’s, Sam Walton’s business was extremely profitable. So much so that the Walton’s made a decision to open a new chain of stores. Those stores are still known today as Sam’s Club.

Also, by the 1980s there were over 270 Walmart locations with over 20,000 employees. Due to a large number of stores and employees, Sam Walton found new ways to keep everyone motivated. In 1984 Sam Walton wore a traditional hula outfit on Wall Street as he performed a hula dance. Why would the owner of a large company do such a thing? He had made a promise to his employees. That promise was if they reached a goal of “a pre-tax profit of 8% for the previous fiscal year” he would perform this dance in front of everyone.

Click on this link to learn more about Sam Walton and his famous quotes on Customers, Success, and Leadership.

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Sam Walton

Sam Walton was the founder of Walmart. He valued his customers as well as his employees. Therefore, he encouraged his employees to be great leaders. He also encouraged them to be successful.

Walton also believed that the customer should come first. In addition, he believed that the customers’ needs should be the most important thing in not only his business but in every business. Without customers how can any business flourish? Furthermore, Walton encouraged all leaders to be successful by putting their customers first. Using this strategy, the company of Walmart that we know flourished.

Sam Walton on Customers

Customers are the main focus.

Sam Walton believed that customers were the most important part of any company. Therefore, there are many memorable quotes that focus on them. Furthermore, he knew how to continue to be successful. Not only did Sam Walton speak about the importance of customers he also ran his business with that at the forefront.

* There is only one boss. The customer. And he can fire everybody in the company from the chairman on down, simply by spending his money somewhere else.

*  The goal as a company is to have customer service that is not just the best, but legendary.

* Exceed your customer’s expectations. If you do, they’ll come back over and over. Give them what they want – and a little more.

* If one of our customers comes into the store without a smile, I’ll give them one of mine.

* If you don’t listen to your customers, someone else will.

* Each Walmart store should reflect the values of its customers and support the vision they hold for their community.

Sam Walton on Success

Walmart has shown success throughout the years.

Sam Walton had many things to say about success. He believed that success was directly related to hard work. Also, Walton knew that with time things change. Therefore, in business, you need to be flexible as well as ready for those changes. Furthermore, Walton knew while keeping up with changes you need to also be able to continue to put the customers’ needs first.

* You can’t just keep doing what works one time, everything around you is changing. To succeed, stay out in front of change.

* To succeed in this world, you have to change all the time.

* Celebrate your success and find humor in your failures. Don’t take yourself so seriously. Loosen up and everyone around you will loosen up. Have fun and always show enthusiasm. When all else fails, put on a costume and sing a silly song.

* The secret of successful retailing is to give your customers what they want. And really, if you think about it from the point of view of the 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.

* The key to success is to get out into the store and listen to what the associates have to say. It’s terribly important for everyone to get involved. Our best ideas come from clerks and stock boys.

* If you want a successful business, your people must feel that you are working for them – not that they are working for you.

Sam Walton on Leadership

Leadership is important to success.

Good leaders are essential to a good business. Walton knew that if you take care of your employees, they, in turn, will take care of you. Therefore, he had a lot of positive advice for leaders. Along with leading, Walton believed that leaders were responsible for keeping other employees on the track for success. Furthermore, he knew good leaders produce good employees. Also, good employees produce good customers.

* Outstanding leaders go out of their way to boost the self-esteem of their personnel. If people believe in themselves, it’s amazing what they can accomplish.

* Communicate everything you can to your associates. The more they know, the more they care. Once they care, there is no stopping them.

* Leaders must always put their people before themselves. If you do that, your business will take care of itself.

* Nothing else can quite substitute for a few well-chosen, well-timed, sincere words of praise. They’re absolutely free and worth a fortune.

* There’s absolutely no limit to what plain, ordinary, working people can accomplish if they’re given the opportunity and encouragement to do their best.

* If you love your work, you’ll be out there every day trying to do it the best you possibly can, and pretty soon everybody around will catch the passion from you – like a fever.

Lastly, check out our post on: Inspiring Business Quotes Help Conquer Tough Times 

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Consultants Who Impacted Manufacturing

Manufacturers commonly rely on consultants to help advance their business strategies.

Let’s take a step back in time to look at several legendary business consultants.

Three prominent management consultants from the 20th century who left a lasting legacy include W. Edwards Deming, Peter Drucker and Tom Peters.

As a business logistics major in college during the 1990’s, these individuals appeared frequently as hot topics throughout business classes.

Each of these three consultants found international success with their influence as well as pioneering ideas on business management practices

In particular, each of these individuals left a significant impact on manufacturers. Even today, all three consultants continue to heavily influence decisions at our company.

W. Edwards Deming

W. Edwards Deming is considered by many to be the master of continual improvement of quality, as well as overall operation efficiency.

In June 1980, the acclaimed documentary “If Japan Can, Why Can’t We” reintroduced Dr. Deming to America. He quickly became the voice of quality and sparked the quality revolution.

Deming consulted with clients such as Ford, Xerox and Proctor & Gamble.

In particular, Deming played a major role in the resurgence of the American automobile industry in the late 1980’s. Below includes several of our favorite quotes from Deming:

  • “A Bad System Will Beat a Good Person Every Time”
  • “Two basic rules of life are: 1) Change is inevitable. 2) Everybody resists change.”
  • “Eighty-five percent of the reasons for failure are deficiencies in the systems and process rather than the employee. The role of management is to change the process rather than badgering individuals to do better.”

Peter Drucker

Consultants

Another consultant from the 20th century who left a lasting legacy includes Peter Drucker.

Peter Drucker, commonly referred to as the “father of management“, authored 39 books. Above all, he wrote 30 books AFTER the age of 60. That’s inspiration!

The impressive Drucker client list included a line up of corporate giants such as Sears, IBM, GM, GE, Intel, Coca-Cola, and Proctor & Gamble. 

Furthermore, Drucker delivered ground breaking views on motivation, efficiency and time management.

He is also credited with coining the term “knowledge worker“.

Check out this fantastic article about Peter Drucker from the Harvard Business Review: What Peter Drucker Knew About 2020.

Drucker’s books serve not only corporate warriors, but also entrepreneurs as well.

For example, his 1985 book “Innovation and Entrepreneurship” deserves the role as mandatory reading for every entrepreneur.

Below includes a list of the many incredible quotes from Peter Drucker:

  • “Doing the right thing is more important than doing the thing right.”
  • “If you want something new, you have to stop doing something old.”
  • “There is nothing quite so useless as doing with great efficiency something that should not be done at all.”
  • “Results are gained by exploiting opportunities, not by solving problems.”
  • “So much of what we call management consists of making it difficult for people to work.”
  • “Meetings are by definition a concession to a deficient organization. For one either meets or one works. One cannot do both at the same time.”

Tom Peters

Lastly, Tom Peters co-authored one of the greatest business books of all time, “In Search of Excellence: Lessons from America’s Best-Run Companies”. This book served as required reading for business majors in the 1990’s.

Tom Peters client list includes the Hersey Company, Rolls-Royce Aerospace, Texas Instruments and the U.S. Army.

Several excellent quotes from Tom Peters include:

Wrapping It Up

Finally, thanks for reading our post on 20th management consultants.

For additional information on Falconer Electronics, check out these other helpful blog posts:

Being an entrepreneur requires a consistent positive attitude. You need your game face on at all times. Display constant determination. Maintain a laser focus. Especially during stressful periods and even when a bad day occurs. We all need to remain upbeat. Sometimes we just need words of wisdom like inspiring business quotes to put us back on track.
Inspiring Business Quotes

Inspiring Business Quotes Help Conquer Tough Times

Who doesn’t love quotes of inspiration and motivation?

For example:

Of course, one of the classic motivational speeches of all time comes from Bluto (John Belusi) in the 1978 movie “Animal House”.

Bluto: “What? Over? Did you say ‘over’? Nothing is over until we decide it is! Was it over when the Germans bombed Pearl Harbor? Hell no!… It ain’t over now, ’cause when the goin’ gets tough, (long pause)….the tough get goin’. Who’s with me? Let’s go! Come on!…”(He ran to the front door but no one followed him). If you grew up in the 70’s, this scene may bring a smile to your face.

Anyway, some great business quotes serve not only as an excellent source of inspiration but they also help put things in perspective during challenging times.

Serving as a U.S. manufacturer since 1985, we targeted our list of favorite business quotes from entrepreneurs who helped revolutionized their industries.

Henry FordBusiness Quotes

Henry Ford is a must for any list of favorite business quotes. In particular, Ford was known for his insightful one-liners. Henry Ford delivered a wealth of outstanding quotes:

  • “If I had asked people what they wanted, they would have said ‘faster horses.”
  • “If you always do what you always did, you’ll always get what you’ve always got.”
  • “Obstacles are those frightful things you see when you take your eyes off your goals.”
  • “Quality means doing it right when no one is looking.”
  • “Chop your own wood and it will warm you twice.”
  • “Nothing is particularly hard if you divide it into small jobs.”
  • “Coming together is the beginning. Keeping together is progress. Working together is success.”

Click Here for Inspiring Thomas Edison Quotes

Steve Jobs

Steve Jobs needs little introduction. Technology visionary. Computer pioneer. Inventor. Entrepreneur. Massive success. Co-founder of Apple. He also revolutionized the cartoon industry with Pixar. Steve Jobs died way too young in 2011. Below include a few favorites:

John D. RockefellerRockefeller

What is the first thing that comes to mind when you here the name Rockefeller? Most likely, money and wealth.

Click Here for Our Book Review on “Titan: The Life of John D. Rockefeller, Sr.”

John D. Rockefeller achieved great heights of unimaginable wealth. Rockefeller founded The Standard Oil Company in the 19th century.

Wrapping It Up 

Thank you for reading our post on Inspiring Business Quotes. Hopefully you found a quote or two insightful. Even applicable to your business.

What are some of your favorites?

For additional information on Falconer Electronics, check out these other helpful posts:

Why Thomas Edison Quotes

The Thomas Edison Legacy stands as not only one of the greatest inventors in history but also a brilliant entrepreneur. As such there are so many Thomas Edison quotes that still apply to today’s society. Being an electronics manufacturer, Thomas Edison holds a special place in our hearts here at Falconer Electronics.

Below we have compiled our  Favorite Thomas Edison Quotes into helpful categories: Success, Failure, Hard Work, Learning, and Friendship. All of which everyone can relate to. Whether you are in your dream job or looking for advancement there is an Edison quote that will encourage you to keep looking forward. Also, Edison often encouraged the idea of never giving up. Especially when things are not going how you planned.

Thomas Edison Quotes

Thomas Edison Quotes on Success

  • The three great essentials to achieve anything worthwhile are: Hard work, Stick-to-itiveness, and Common sense.
  • Our greatest weakness lies in giving up. The most certain way to succeed is always to try just one more time.
  • To invent, you need a good imagination and a pile of junk.
  • Hell, there are no rules here – we’re trying to accomplish something.
  • There’s a way to do it better – find it.
  • Your worth consists in what you are and not in what you have.
  • Results! Why, man, I have gotten a lot of results. I know several thousand things that won’t work.
  • One might think that the money value of an invention constitutes its reward to the man who loves his work. But… I continue to find my greatest pleasure, and so my reward, in the work that precedes what the world calls success.
  • Anything that won’t sell, I don’t want to invent. Its sale is proof of utility, and utility is success.
  • When I have fully decided that a result is worth getting I go ahead of it and make trial after trial until it comes.

Failure Quotes

  • Just because something doesn’t do what you planned it to do doesn’t mean it’s useless.
  • I have not failed. I’ve just found 10,000 ways that won’t work.
  • Never get discouraged if you fail. Learn from it. Keep trying.
  • Waste is worse than loss. The time is coming when every person who lays claim to ability will keep the question of waste before him constantly. The scope of thrift is limitless.
  • Restlessness is discontent and discontent is the first necessity of progress. Show me a thoroughly satisfied man and I will show you a failure.
  • Many of life’s failures are people who did not realize how close they were to success when they gave up.
  • Show me a thoroughly satisfied man and I will show you a failure.
  • I start where the last man left off.

Thomas Edison Quotes on Hard Work

  • There is no substitute for hard work.
  • If we did all the things we are capable of, we would literally astound ourselves.
  • What you are will show in what you do.
  • Opportunity is missed by most people because it is dressed in overalls and looks like work.
  • If we did all the things we are capable of, we would literally astound ourselves.
  • What you are will show in what you do.
  • I never did a day’s work in my life. It was all fun.
  • Being busy does not always mean real work. The object of all work is production or accomplishment and to either of these ends, there must be forethought, system, planning, intelligence, and honest purpose, as well as perspiration. Seeming to do is not doing.
  • Everything comes to him who hustles while he waits.
  • I never did anything by accident, nor did any of my inventions come by accident; they came by work.
  • Nearly every man who develops an idea works it up to the point where it looks impossible, and then he gets discouraged. That’s not the place to become discouraged.
  • Be courageous. I have seen many depressions in business. Always America has emerged from these stronger and more prosperous. Be brave as your fathers before you. Have faith! Go forward!
  • There is far more opportunity than there is ability.

Quotes About Learning

  • Learn with both your head and hands.
  • Not everything of value in life comes from books- experience the world.
  • Never stop learning. Read the entire panorama of literature.
  • Maturity is often more absurd than youth and very frequently is most unjust to youth.
  • Genius is one percent inspiration and ninety-nine percent perspiration.
  • The chief function of the body is to carry the brain around.
  • The best thinking has been done in solitude. The worst has been done in turmoil.
  • To have a great idea, have a lot of them.
  • The value of an idea lies in the using of it.
  • Great ideas originate in the muscles.

Friendship Quotes

  • I have friends in overalls whose friendship I would not swap for the favor of the kings of the world.
  • There will one day spring from the brain of science a machine or force so fearful in its potentialities, so absolutely terrifying, that even man, the fighter, who will dare torture and death in order to inflict torture and death, will be appalled, and so abandon war forever.

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Want to learn more about Thomas Edison? You can look at our other blogs! Facts You May Not Know About the Thomas Edison FamilyInventions of Thomas Edison: Successes and Failures, and The History of Thomas Edison’s Life.

Also, do you know about Mina Miller Edison? She was Thomas’ wife. You can check out our blogs on her achievements: Mina Miller Edison’s Family LifeMina Miller Edison: Much More Than Just Thomas Edison’s Wife, and Happy 153rd Birthday Mina Miller Edison: July 6, 1865.

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