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May 4
The Common Sense Management of Sam Walton - 86

High expectations are the key to everything.


Very few business leaders say they start out with the idea of being the biggest at something, usually, like Sam Walton said above, there will be high expectations of being the best at what they've chosen to pursue.

Walton said the same about Wal-Mart (WMT) when he started it. It was never a part of his goal to become the biggest retail store in the world, or even the biggest business for that matter. He simply wanted to offer good  products at good prices. His expectations landed squarely with his stated purpose.

High%20Expectations.jpgHigh expectations are the key to everything, I believe that, but not necessarily in connection to size alone. Just being big doesn't guarantee success or that expectations are being met.

When expectations are connected to quality and excellence though, than the big will follow if we want to travel that path.

Most successful business managers don't focus on size primarily because that isn't what will bring success or increased sales, but rather focus on execution and processes that fulfill what they promise. That is where high expectations are most valuable.

There's nothing wrong with having big goals, but placing expectations on goals instead of what will bring us there, will create a cycle and circle of endless frustration as we wonder why we aren't reaching them.

We should have high goals, but placing our high expectations on the journey and executing the practicals is what will get us there.

Other Walton Sources:

The Wisdom Of...Sam Walton

Sam Walton Articles

The Most Underrated CEO Ever The legendary Sam Walton

Sam Walton: The Power of Persistence

The Anti–Wal-Mart Jihad

Made in America: My Story

Sam Walton Business Quotes for Ya

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2 Comments/Trackbacks




» Mary Kay Ash: She Never Wavered - 32 from ManagersRealm
She never cared, quite frankly about how big her business was - she cared about the women and that's her legacy.This is a comment one of Mary Kay's colleagues made concerning her goals and focus. I like it because it... [Read More]

Hello,

Yes Wal-Mart has taken on a life of it's own since Sam Walton passed on, however all great trees start from a single acorn or seed and the same is true in this case.

Part of Sam's greatness was always trying new things and then based on positive results translating these "best practices" across the chain.

Wal-Mart is doing the same again with RFID and in fact if they continue the path they are on, will likely reinvent the retail business model using this technology over the next 5 to 10 years.

To get a better understanding of how they will acomplish this, read the following article.

Is Wal-Mart About to Reinvent Retailing?

Cheers

Jeff Ashcroft

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