Twelve rules to build a business according to Sam Walton
1. Work hard.
2. Build a good team.
3. Commit to your business.
4. Share profits with your associates and treat them as your partners
5. Motivate your partners, not only by money and ownership but also with creative challenges.
6. Communicate everything you can with your partners – showing that you trust your partners completely. This motivate them to work hard and contribute greatly to the business. It is a win - win partnership.
7. Appreciate the hardwork of your associates with monetary rewards, gifts and sincere compliments.
8. Celebrate your success. If you make mistakes, press on and don’t take you too seriously. Confront mistakes with humor.
9. Listen to everyone in your company. You never know where the good ideas come from.
10. Exceed your customers’ expectations. Satisfaction Guaranteed.
11. Control your expenses better than your competitors. This efficiency may save your business when difficult time comes.
12. Swim upstream. Find your way which may be different from the conventional wisdom.