The World's Best Book Summaries
Who was Sam Walton? What were Sam Walton’s defining personality traits? Sam Walton founded “The Walton Five and Dime” in 1970 which eventually turned into Wal-Mart. Walton’s personality was one of the major contributing factors to the growth of Wal-Mart. Continue reading if you want to know who Sam Walton was and how he came to found Wal-Mart.
Does your company have a Just Cause? What is the larger need—beyond the immediate provision of the product—that your business aims to fulfil? A Just Cause outlines the reason you are in business beyond the provision of any one specific product or service. It provides a context for all the decisions you’ll make and inspires people to work hard and make sacrifices because they believe in the cause. In this article, we will take a look at the characteristics of a Just Cause and how a Just Cause looks like in real-world business.
Is Ryan Holiday’s Perennial Seller worth reading? How do you create a product that will provide value and bring profit for many years to come? Ryan Holiday’s Perennial Seller is light on how to actually create a new product. Unlike other “thought leaders” and experts who are focused on shortcuts to success (social media marketing, raising capital, hacking bestseller lists), Holiday comes at it from a different angle—creating something that will stand the test of time. Below is a brief overview of Perennial Seller: The Art of Making and Marketing Work That Lasts by Ryan Holiday.
Do you have a rival whom you admire in some way? Is there a company that does at least one thing better than you do? How can you apply lessons from them to your own business? In his book The Infinite Game, Simon Sinek emphasizes the importance of learning from your “worthy rivals.” A worthy rival is a competitor who is better than you at certain things, and who can therefore reveal to you ways you can improve, enabling you to better survive in the infinite game. Here is how a worthy rival can inspire you to get better at
What is the origin of Wal-Mart? How did Wal-Mart go from a small five and dime in Arkansas to a multinational superstore? Sam Walton, the founder of what is now Wal-Mart, opened his first five and dime store in 1950. Within four years, he would open a second store and by 1962 he would own 16 stores. The Walton Five and Dime grew rapidly thanks to Walton’s superior pricing and business sense. Continue reading to learn more about the origin of Wal-Mart.
How did Sam Walton manage to grow Wal-Mart so quickly? What growth strategy did Walton use? In 1970, Sam Walton decided to take Wal-Mart public, which contributed to the growth of Wal-Mart. However, Sam Walton’s strategy of going into smaller towns with less than 5,000 people, keeping costs and prices low, and setting up distribution centers was the real reason for Wal-Mart’s success. Keep reading to learn more about the growth of Wal-Mart and Sam Walton’s business strategies.
Do you have a product idea in mind? What are some things you should consider before you embark on product development? According to Ryan Holiday, the author of Perennial Seller, creating a product that lasts is about creating an amazing product, not about hyping it up through marketing. To create enduring work, you have to love the process of creating a great product, not just focus on marketing and sales. Here are some tips on how to create a product that will stand the test of time.
Do you want to expand your business but aren’t sure which strategy is best to adopt? How can you grow your business without putting too much strain on your resources? The most sustainable way to expand your business is to focus on building and growing a loyal relationship network. Further, your relationship with your fans must be more than transactional—it should be for life. In this article, we’ll first discuss the benefits of having a loyal network of followers, and then provide five tips for accruing one.
How do you find an ideal employee to fit the position that you need filled? What traits and talents would your ideal employee have? It’s not easy to find the ideal fit for a job, especially during the hiring process. While you can’t change the way people present themselves, you can clearly define the talents that describe the ideal worker for the position you’re trying to fill. Think about the following tips as you’re creating your ideal employee profile.
In what ways did Amazon grow in the mid-2000s? What big changes came about during these years? The mid-2000s brought about many changes for Amazon. During this time, Amazon entered a war with Zappos, launched Mechanical Turk, relaunched its web services and “fulfillment by Amazon.” It was well on its way to becoming the giant it is today. Below is Amazon’s timeline of events from 2005-2007.