Wednesday, January 18, 2006

Motivate - Rule 3 from Sam Walton

Rule 3: Motivate your partners. Money and ownership alone aren't enough. Constantly, day by day, think of new and more interesting ways to motivate and challenge your partners. Set high goals, encourage competition, and then keep score. Make bets with outrageous payoffs. If things get stale, cross-pollinate; have managers switch jobs with one another to stay challenged. Keep everybody guessing as to what your next trick is going to be. Don't become too predictable.

Partners means everyone who you touch. Employees, suppliers, customers, bankers (ok, bankers don't like surprises)

Small Business
Business Strategy

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