Hello Friends,
You must be Aware that Today's Era Richest Men is Jeff Bezos and Earlier it was Bill Gates
But do you know who was the Richest man before Bill gates that too for many years
Well From 1982 onwards The Man who was at the position of World's Richest Man Was Sam Walton
When Sam Walton Died on 1992 only after that Bill gates became the world's Richest man
Sam walton was so rich and successful
because he Formed a Company Walmart who brought Revolution in Retail Industry
Even Today Walmart is the Biggest Revenue Generating Company, it's in number one position
In 2017 Walmart Generated 486 Billion dollar Revenue whereas Apple Generated $255 billion revenue
In Today's Time Walmart has 1 thousand 12 hundred and 77 (11277) stores and clubs worldwide
Walmart has more than 2.3 million workers employees more than any private company
Canada population is less than the people who visit Walmart in just one day
and an important thing, if you have seen my Jeff Bezos Case study then you must have known
that Jeff Bezos learned many useful business related knowledge from Sam walton's Book Made in America
because of which Jeff Bezos Able to become World's Richest man just Like Sam Walton
in Jeff Bezos Case study many of you'll commented to make Case study on Sam walton
so that even you'll can learn some great business lessons from one of the best businessman
and can improve your lives coz when Jeff found best to learn from Sam then even we should learn from him
therefore i will share made in America book summary and Sam walton case study
so let's begin
in 1985 when Forbes listed sam walton as World's Richest man at that time all media people were stressed
about who is Sam walton, never heard about him, never seen him etc
all were in thinking who is sam walton? how exactly he is
with the hope to know sam walton, all media people went to Bentonville where Walton used to Reside
they were assuming that walton will be relaxing in money pool, who will be smoking $100 as a cigar
girls will be around him, they all thought that sam walton maybe living such Lavishing life
but their assumptions broke, when they came to know instead of driving a Sports car,
Sam walton used to Drive an Old Truck which has Cages for his dogs
they came to know instead of doing his haircut from a fancy salon, he prefer to go to small roadside salon
instead of wearing designer clothes, he used to wear his own store simple clothes and a ball cap
He was a person who prefers living a simple life
this doesn't mean that he was miser, no obviously not
but the actual reason was that he always understands the Value of Money
In his Lifetime he bought 18 planes all were second hand, he didn't bought those planes for showoff
he bought all planes for saving his time
Sam walton belong to a very normal family,  his parents were very hard working people
they all respected money, when sam walton was growing old at that time huge Recession was going on
and there were huge money problems were going on
hence Sam walton's parents used to use money with proper calculation
and same thing Sam Learned from his Parents
Today child work is considered as a Sin, But Sam Walton since childhood was a Contributor to his family
not a taker, means he since childhood learned to earn money
since childhood he used to sell Rabbit Pigeon or magazines or newspaper by going door-to-door
since childhood he worked hard and earned money therefore he learn to value money a lot
If Sam Would have wanted then he would have easily lived a very Lavishing life by buying yacht/islands
but no, he chose a very simple life, why because he use to believe that if i spend a lot
then indirectly it will be like i am spending money from the customers pocket
see maximum company fail to become huge, because those companies owners after getting small success
starts taking and spending lot of money from the companies profit
because of which their life grows but companies growth stops because of lack/less of money
however Sam Walton used to invest his maximum income again to his businesses and companies
he used to Re-invest his money by opening new shops and stores, therefore he able to create a huge Empire
hence the very first lesson we must learn from Sam walton is Value of making money
many people say that they don't have money to start a business well even Sam didn't had
but if you learn to work hard and to earn money and learn to value your money
then slowly and gradually even you will do something great and huge like Sam walton
Since childhood Sam walton's mother taught him one thing That Son be best at whatever you do
always set high goals for yourself and always be ambitious
therefore since childhood Sam always work to become the best
Example: as i said earlier sam used to sell Magazines and Subscriptions to earn money
that time a competition happened where they were asked who will sell maximum subscription in one day
and price of the competition was 10 dollar
now obviously you can understand who won that Competition, obviously Sam walton
many parents who stop their kids for playing and ask them to study all the time
let me tell them Sam walton used to play baseball, basket ball and used to swim in summer season
and he was good in all these games/sports
an amazing fact, whichever game sam played during his childhood, he won all those matches
and whether say it a luck or anything, whichever match Sam's team used to lose
in those matches sam fails to appear, or wasn't present in those matches for some reason
like he was ill, or was injured etc
no matter whats the reason, but this thing made Sam believe that Winning is his Right, he cam never lose
and this believe made him grow in his life
At the age of 12 he challenged one boy that he will be the first boy to win in Boy scout eagle match
and guess what just at the age of 13 he became the youngest eagle of his time
Now don't take it wrong, he wasn't a talented kid or God has gifted him talent or luck or anything
but actual reason was he was very hard working, he used to work hard to always stay at the top
he always believed in Action, therefore in whatever he used to participate he used to emerge as a winner
example, Sam walton's team was State level champion in Football and basket ball
he was president of many clubs and organisation in his childhood
Charlie Baum Early Walmart Partner says, In Many ways Money wasn't that important for Sam
but the thing which was the reason for his motivation was to stay at the top always
now the second lesson which we must learn is Competitive and Best
Whatever you do, be best in that by being competitive
this attitude will move you forward in life just like sam walton
Sam walton was a very Influencing and motivating person
people used to admire him and like him coz of his humble nature
now as he always want to stay at the top, once when there was competition
going on in his university for president, therefore Sam Participated in it
In that Competition he learned a simple but great secret or lesson of Great leadership skill
secret was, whoever used to come to meet him or used to walk near him,
sam used to be the first person to Approach, he used to talk first before that opposite person
if sam knows the opposite person, then he used to talk to them by saying their name
and even if he didn't knew the person still he used to talk to them, even if people are just passing around him
now with this habit what happened people starts recognising him and consider him as a friend
and as a result he won the President Election
There was an article where it was written that sam was one of the rare person who used to call
and was aware of his company's employee names, he knew from Janitor till CEO By their names
and this same nature was very beneficial for his shop, it played a great role in bringing customers to the shop
Because he used to Greet people with Respect, he used to Greet people walking outside his shop
he used to remember people's name used to make people feel important and special always
In short he was  very great with People's skill
and because of playing many games he understood the importance & power of Team work from the young age
he used all these knowledge and learning for Walmart Success
Therefore Lesson No.3) Improve your People skill and learn Team work
How to win friends and influence people is  an amazing book  which will for sure improve your people's skill
i have already made a book summary for how to win friends and influence people
can check out from the below description
with competitive and confident nature and by paying his education fees by himself
he somehow completed his studies
and then he did his first job in JCPenny store which was a Retail shop
Sam Handwriting was very bad and was hardly understandable, managers used to face issues
but still no one was removing Sam from that job, Why? Because sam was a great salesman
and used to do lot of selling and profit for the company
as he always wanted to be at the top therefore he took $20k from his father in law and started his own shop
which was basically Ben Franklin Shop's Franchise at New Port
Sam bought that shop in Excitement but later he came to know that this Shop rent is more
compare to other shops that is 5 percent of total sale income
and people who gave that shop in rent to him were basically fooling Sam
now instead of focusing on How he got fooled, how bad people are, how he got tricked
he decided and aimed to make that loss going Store to be the most profitable store of New Port
Example: before sam took that shop of rent, that shop used to do selling of 72 k dollar per year
and the shop opposite to sam walton's shop used to do  selling of 150 k dollar per year
now to be at the top, he started doing lot of research that how he can move above his competition
he read all retail publication books, he attended Ben Franklin Program
which was teaching how to handle stores and most importantly he used to focus what all things
going inside his competitors shop, like what exactly the competitor is doing
and by learning though all those things, he used to apply in his store
and he used to do other experiment also which wasn't done by others
Example, he opened Ice cream and pop corn machine in front of his store
which became the reason of him getting more profit and attention of the people
and this way that store slowly and gradually started getting successful
here 4th lesson which we must learn is LEARN EXPERIMENT AND FOCUS TO WIN
Instead of focusing on Negatives, focus on positive by focusing on learning & by doing experiments
now by doing many experiments and by breaking many rules he started running his store
Example: There was a Rule of Taking Ben Franklin Franchise
and that rule was that Sam has to buy 80 percent of stuffs/products from Ben Franklin Directly
but sam used to buy only 70 percent or less than that from Ben franklin
and remaining stuffs he used to buy from outside so that he can sell in less amount to the customers
now i will share a story which will teach the key lesson of Walmart success
Ben franklin used to sell underwear's in 2.5 dollar dozen to Sam
sam used to sell 3 underwear's in 1 dollar to the customers
but when sam came to know that same underwear's he can buy from Harry in just 2 dollar dozen
then Sam Started Buying Underwear's from Harry
and instead of selling 1 dollar 3 unit, he started selling 1 dollar 4 unit
with this his profit for 1 unit decreases
but because many people started taking it from Sam, because that same underwear's were
expensive in other shops, hence Total Profit of sam increased
example: he sells the stuff to customer in 1 dollar which was bought by him in 80 cents
and was normally sold by others in 1.20 dollars,
then with this his profit use to decrease by 20 cents from one unit
but with this idea normally three times more people used to start buying that same stuff by finding it cheap
which eventually increases his total profit
This is known as Profit from Volume
and this is the real essence of Discounting
which is followed by many big companies including Amazon is doing it by learning from Sam walton
now these experiments and rule breaking wasn't liked by Ben Franklin heads
but again they failed to do anything against Sam, because sam made that loss giving store
a very profitable store, which started selling 250 k dollar stuffs in a year which was earlier selling only $75 k pr yr
which was giving lot of profit to Ben Franklin
see this is the Power of Creating Results
therefore 5th lessons which you must learn from sam is Break rules but to create results
see at the end what matter most is the result not other factors like time or anything
therefore if you focus on creating results even after breaking rules just like sam
then no one can do anything against you
now with lot of hard work and experiment that store became the biggest  and profitable
store of the sixth state region,  the way sam always wanted it to be
but later a very huge problem Arises due to his small mistake
when he created an agreement  while taking the Ben shop
in that agreement he failed to mention the term which says that he can increase or can buy the store
after its completion of 5 year leased period
by not doing it what happened that the owner of that shop became greedy
and instead of giving it to sam, he kept that shop for himself
because that store has became very popular
with this Sam's entire hard work efforts were gone to the ground,
sam says that this was his life the biggest low point
now after this what all things sam did to cope up, for that i have to create another video
because already this video has become pretty long and still lot many things are there which i need to cover
hence if you want me to make part 2 of this video then do comment in the comment section
That's all for today
if you want to read Made in America book by yourself, which you must read, then i have shared its
Link in the below description
if you want free audio book of this book, then can take it from seeken.org/audible
audible is an amazon company which gives one month free trail only then they will charge
like this video if you find it useful informative and knowledgeable
share this video with people who are interested in business
subscribe if you like learning from book summaries and from mentors
and don't forget to click the bell icon, or else you won't get the notification and can miss the video on SUNDAY'S
And Finally thanks for watching...
 
