Reviewed by: Patrick Carroll, President – PCR Business Systems
Why I Liked it
Made in America is definitely a book I would recommend to friends and fellow business owners. Not only is the book entertaining, recounting the story of how Sam Walton built Walmart into the retail giant it is today, but it is also educational, offering a wealth of concepts that any business can use to be successful today. In addition, Walton also provides 10 rules for building a business at the end of the book which includes valuable information that any business owner (or anyone thinking about starting a business) can benefit from.
What I Learned
My top three takeaways from the book are:
- Know who your competition is, and check them out! Walton was famous for going into every retail store he passed to check out how that store operated. Walton says to ignore what your competition is doing wrong, and instead focus on the things they do right. Then use them to improve your business.
- Take care of your employees. The way you (and management) treat your employees is exactly how the employees will then treat your customers. Take care of your employees, and they will take care of your customers.
- SWIM upstream. Walton says to go the other way. Ignore conventional wisdom. If everybody else is doing it one way, there’s a good chance you can find your niche by going in exactly the opposite direction. But be prepared for a lot of folks to wave you down and tell you you’re headed the wrong way. Ignore them and stay the course.
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Thanks for reading!
President, PCR Business Systems