"Everyone should be an entrepreneur."
When an employee is treated like an owner in the company, it brings a tremendous benefit to everyone concerned, far beyond what can be talked about in a small blog post.
One of the practical things that can make this happen, beyond ownership in the company if it's public, is in the sharing of information.
With Wal-Mart, if you ran a certain department in any store, every bit of financial information you needed would be at your fingertips.
If you ran the shoe department, you could access the sales figures at any time, know what the margins were and how much inventory was on hand. These are the types of things an entrepreneur would know, and it would give a snapshot of where things were.
What's most important though, is the psychological value it adds to a worker. They start to run their department like they own it; which is how they're being treated.
This of course goes beyond the simple financial I mentioned above, but it's being included in the information that helps to measure the progress of the department they're running that is so highly motivating. And it can help and motivate our people to run the business like they own it.
Building an entrepreneurial business means being given access to what an owner would need to make the right decisions. Other than a limited amount of important information, anything should be able to be shared among our workers. Treat them like they are our partners and they'll start to act like it.
If they start to act like it, anything is possible to achieve.
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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