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Back to #434 Sam Walton, with David Senra.

What Was Sam Walton's Golden Rule at Walmart?

David Senra, reading from Vance Trimble's biography of Sam Walton, says Sam Walton's golden rule at Walmart was that the customer is always right, and if the customer is not right, refer to rule number one.

Hardly a day passed without Sam Walton reminding an employee of that rule. Customer satisfaction was the first essential ingredient, and the rest of the approach was a combination of parts, basic and few. The standard was to go above and beyond when something came back.

A customer who bought a pair of shoes at Walmart and brought them back, for whatever reason, was to have the shoes cheerfully replaced. The sales clerk was also to throw in a pair of socks or stockings for the hassle of having to bring back the defective merchandise.

Grokipedia·Sam Walton·Walmart

Transcript

#434 Sam Walton ·

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  1. What Was Sam Walton's Simple Idea Behind Walmart?David Senra says Sam Walton's idea behind Walmart was absurdly simple: buy cheap, sell low every day, and do it with a smile.
  2. How Did Walmart Get Ahead of Kmart?David Senra, reading from Vance Trimble's biography of Sam Walton, says Walmart got ahead of Kmart because Kmart ignored Walton's small-town stores and gave…
  3. Why Did David Glass Write Off the Second Walmart?David Senra says the second Walmart was such a mess that David Glass wrote Sam Walton off, even though Glass later became the CEO of Walmart 20 years on.
  4. How Did Sam Walton Beat Bigger Retailers?David Senra, reading Charlie Munger's account, says Sam Walton beat bigger retailers by first knocking out small-town merchants with a more efficient system…
  5. How Did Sam Walton Manage Walmart?David Senra says Sam Walton managed Walmart by walking stores, warehouses, and truck cabs, and some staffers called him that old slave driver, the boss people…
  6. How Did Sam Walton Start Sam's Wholesale Clubs?David Senra says Sam Walton started Sam's Wholesale Clubs by copying a membership wholesale club that Sol Price had already made successful.
  7. How Much Were the Walton Children's Shares Worth?David Senra says each of Sam Walton's four children has owned one-fifth of their parents' stock and property since 1954, and at the time of the recording the…

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