Sam Walton was Largely Ignored by the Press Until he was a Success
It wasn't until Sam Walton took Wal-Mart (WMT) public and some people did a little digging to find out he was the richest man in the world at the time, that he started getting press coverage.
One of the lessons from this is it doesn't take a lot of hoopla and press to become a success. Walton was so underestimated by everyone that he really wasn't seen as being a real player in business until he had surged past his competitors. By that time it was far too late for them to catch him.
The point I want to make though is the "quiet" side of doing business. Getting a lot of press and free publicity can help a company at times, but overall it doesn't guarantee a great company. Most the time it just means that you're popular enough in who you are or what you represent to draw some eyeballs for whatever medium is covering you.
There's something about flying under the radar that is powerful to me. It means you're probably in what is considerd a boring, but lucrative field that doesn't necessarily attract the imaginations of people that like to hear about exciting things.
Barry Diller is that way with his growing number of Internet companies that are just kinda sitting around out there with not much press coverage, but serving markets that should be strong for a long time to come. He's content to go along on his way and build a strong batch of companies.
Another side of this is the constant pressure that accompanies businesses that have the type of superstar CEOs or market that brings with it endless scrutiny down to minutiae. There is almost nothing you can do that isn't known almost from the beginning of an idea being hatched. Even mistakes which wouldn't normally be that big of a deal, can be put under a magnifying glass and made to be much more than it really is.
I like this stealth mode of a number of business leaders. It takes the pressure off daily operations and allows businesses to grow and excel without too much scrutiny.
For some businesses, obviously it is good for there to be a lot of hoopla and press coverage, along with the free promotion that comes with it. But overall, I think the low-lying, business of quietly building a great company is far more effective and long-lasting.
Sam Walton did this with extraordinary effectiveness while growing one of the greatest companies in the world, right under the noses of the press.
Other Sam Walton Sources:
Sam Walton: 10 Rules for Building a Successful Business
Sam Walton - Retail Success Story
Sam Walton: King Of The Discounters
Sam Walton: Great From the Start
Remember to Sign up for my feed, bizzbite and digg this!
Sponsored link: The outsourcing every manager requires - Tampa Locksmith
Comment Preview