One Secret Result of Walton's Learning
We've already talked about how Sam Walton was an insatiable learner. He could draw out the last bit of information from individuals because he legitimately cared about them and respected what they had to say.
On the other hand, he also learned a lot from his suppliers, competitors and retail industry publications. His wife Helen said one time, "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 .... I'm sure it aggravated him quite a bit early on."
While the learning was a big part of Walton's personality and makeup, it went far beyond simply attaining information.
With Walton knowing specifically what he wanted in Wal-Mart (WMT), he always took the things he learned and reengineered them for his purposes.
He had a gift of seeing and understanding what others did and then taking it and improving and enhancing it far beyond the existing practices by those using it.
The point is that contrary to what many people do today, Walton didn't go to learn so he could copy (he knew the industry he chose to compete in had a lot of inefficencies and problems), rather he learned what he learned to reinvent it.
That's one of the problems mediocre business leaders have to this day. They simply copy something that seems to be working for somebody else, without understanding the underlying reasons. Walton knew what worked and didn't work and why. The result was that he was able to transcend the industry and basically turn it upside down.
Learning gives us a point of reference only. To build great businesses, we need to understand that knowledge is a servant to launch us to another level, not a place to dig in and build a shrine.
Other Walton Sources:
The Most Underrated CEO Ever The legendary Sam Walton
Sam Walton: The Power of Persistence
Sam Walton Business Quotes for Ya
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