Tuesday, January 17, 2006

Walmart Founder Sam Walton - Rule 2 for Success

Rule 2: Share your profits with all your associates, and treat them as partners. In turn, they will treat you as a partner, and together you will all perform beyond your wildest expectations. Remain a corporation and retain control if you like, but behave as a servant leader(my emphasis) in your partnership. Encourage your associates to hold a stake in the company. Offer discounted stock, and grant them stock for their retirement. It's the single best thing we ever did.

Make sure you have profits before you start to share. However, you can be a servant leader from the day of your first hire.

Business Success
Small Business
Customer Service
Business Strategy

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