Sam Walton was an American businessman and entrepreneur. He was also best known for founding the retailers Walmart and Sam’s club. He was born on 29 March 1918 in Kingfisher Oklahoma. He lived with his parents on the farm until 1923. He is the only son of Thomas Walton and Nancy Lee. As he and his family live in the farmhouse. Only farming does not provide enough money to raise a family. This time was very tough for the family. The family and kids both work hard to live. The kid wakes up early in the morning to collect the milk from cows and then sell it to his 10 or 12 customers and with one gallon of milk they receive 10 cents. He also goes door to door to sell the magazine at the age of eight.
His parents play a large role in his success. His mother always told him that he tries to do his best in work no matter what type of work is it. Due to this Sam always does those things with true passion which interests him. Sam also idealize his father to a great extent. Then they move to another town in Missouri.
When he was 12 years old he challenge other boys of this age that he can win the Eagle Scout.
At the age of 13, he becomes the youngest Eagle Scout. To win the Eagle Scout badge is not an easy task the person has to show extreme bravery. Most of the people who win Eagle Scout are older than Sam. He wins the Eagle Scout because he saves one person from drowning in the river. The later little Sam became the youngest Eagle Scout in the state of Missouri at that time.
In high school, he is elected as the president of students and he is active in other clubs. Sam also joined the basketball team and later he won the state championship. Sam was also the quarterback of the football team which was undefeated.
Sam was always ambitious and stayed with a positive mental attitude. Then he graduated from high school and then got into the college when he got into college he entertaining the thoughts of becoming the president of the United States. Then he tries to become the president of the university student body first.
“High expectations are the key to everything”.
By the time Sam graduated college he had been elected for the president of the senior men’s honor society, an officer in his fraternity, president of his senior class, and president of the Bible class. He was captain and president of Scabbard and Blade and also the elite military organization of ROTC.
Sam Walton graduated with a master's degree in economics from the University of Missouri. At a young age, he shows very interest in economics.
While doing this he also ran his own newspaper business and make 4000 dollars to 6000 dollars in the year. Sam graduated from college with a business degree. Sam does his first job in the J C penny store as a management trainee. His salary is 75 dollars a month. Sam didn’t satisfied with this job. Then soon he started looking for other opportunities.
“To succeed in this world you have to change all the time.”
“You can’t just keep doing what works one time, everything around you is changing. To succeed, stay out in front of change”.
At the age of 27, he borrowed 25000 dollars from his father-in-law and set up his first discount store in Newport Arkansas. In this case, there was heavy competition between the stores across the street and his store. He set the goal that he wants to make his store the most variety store in Arkansas in the next five years. The thing which was the power of Sam Walton was to stay on the top in any type of competition. Sam worked hard and hit his goals and then his stores became the largest variety store in Arkansas. But then after some time, something bad happens to Sam.
Later Sam's contract which he made with the owner of the building is expired and the owner don’t want to renew the contract. The owner knows that Sam had no other place to go so he will take over this. But Sam is different he didn’t give up at this point and in this type of situation. Sam once said:
“I could not believe this was happening to me. It really was like a nightmare.”
Walton was a very hard-working person he use to wake up on 4:30 am to start working on his goals. When Sam and his family move to another town in Bentonville, Arkansas Sam have a plan to make more stores in different areas. Later he open his store in this town he lasted there for more than 90 days and once he said that he hear people talking to each other that well we give this boy sixty days maybe ninety. This guy won’t last that long. He then expands his business and also makes other stores.
In 1962 he open his store name Wal-Mart and in 1976 Wal-Mart went public with a net worth of 176 million dollars. In1985 Forbes magazine called the Sam Walton richest person in the world. In 1991 the company was richer than the sears and roebuck and in the following year, the company became the world large retailer. Wal-Mart provided jobs to millions of American people and also increase the quality of life by decreasing the cost of goods.
In 1992 Sam Walton receive the “Presidential Medal of Honor”. On February 14, 1943, Sam Walton married Helen Robson. They had four children’s three sons and one daughter.
Sam Walton was the kid who go door to door to sell milk and newspaper had founded the company which is the largest company in the world today. Sam Walton died on Sunday, April 5, 1992, due to multiple myeloma this is a type of blood cancer.
“If you love your work you’ll be out there every day trying to do it the best you possibly can and pretty soon everybody around you will catch the passion from you like fever.”
“If everybody is doing one way, there a good chance you can find your niche by going exactly in opposite direction.”