Ever wonder how the Wal-Mart was formed? We raise this question because behind this lies the extraordinary story of one tough and an inspiring man called Samuel Moore Walton.
Samuel Walton or just Sam Walton was born on March 29, 1918, in Kingfisher, Oklahoma until 1923.
They were farmers. But, farming did not provide enough money to raise a family. So, they shifted to Columbia where in middle school, Sam became the youngest scout ever and received the Distinguished Eagle Scout Award.
Later, Sam took the part time job of a paper boy and began delivering newspapers door-to-door. He also started to milk the family cow, bottle and deliver it to the customers.
Later in hope of finding better jobs by an added qualification, he joined high school. And then graduated from the University of Missouri.
During his college life, he worked as a waiter, in exchange for two-time meals.
I HAVE HAD SEEN POVERTY UP-CLOSE. IT WAS UGLY. BUT I HAD TO PICK MYSELF UP AND GET ON WITH IT, DO IT ALL OVER AGAIN, ONLY EVEN BETTER THIS TIME.
– Sam Walton.
His first big break was at J.C. Penney where he worked as a management trainee. He then joined the military for US army during the second world war.
After quitting the army in 1945, Walton started looking for a business.
Jobs were temporary in nature. I found a business more promising. Stores fascinated me.
With a sum of $25,000 from his savings and a loan from his father-in-law, Sam bought his first variety store, at the age of 26.
Walton’s way of management had extreme care for inventory management. He made sure that every shelf is filled with ample amount and variety of goods consistently.
His pioneering concepts contributed to making his store profitable and he bought other stores in coming days.
His net volume increased from $80000 to $225000. This attracted attention of investors. And eventually the first true Wal-Mart was opened on July 2 1962 at Rogers.
EVERYTHING IN MY LIFE HAD CONTRIBUTED TO FORM WAL-MART. IT WAS THE FINAL POINT OF SUCCESS FOR ME. MY EVERY STRUGGLE PAID ME IN FORM OF THIS MAGNIFICENT RETAIL BUSINESS.
-Walton, 1978
On April 1992, Sam Walton passed away and his son Rob Walton succeded him at Wal-Mart.
Forbes had marked him as the richest man in United States from 1982 to 1988. Ib 1988, Time’s included him in thoer list of World’s Most Influential People of 20th Century. Till his regime, Sam became one the most iconic business figures in America’s corporate history.
HIGH EXPECTATIONS ARE KEY TO EVERYTHING. IF PEOPLE CAN BELIEVE IN THEMSELVES, IT’S AMAZING TO SEE WHAT THEY CAN ACCOMPLISH.
-Sam Walton
