Free market economies are always changing. There are winners and losers. While we might want to hang onto the past, we should focus on what we can do to grow a better today and future. Sam Walton and Walmart, Inc. revolutionized retailing in America and some would argue globally. Box stores like Wal-Mart Stores, Home Depot, etc., have challenged locally owned and operated businesses across America, and particularly in rural America.
A central tenant of Sam Walton’s success was paying attention to potential customers and working harder than everyone else to capture their spending. This lesson is true today, and can help your community become more competitive and successful. We have produced a thought paper,
Lessons from Sam Walton, Keys to Wal-Mart Stores' Success,
which explores how a community can help its local businesses become more competitive and grow a more successful community through increased spending capture.
This paper also explores how by working with local retail and service businesses, you can discover growth-oriented entrepreneurs who can grow your base economy and diversify your economy over time. For more on growth-oriented entrepreneurs, we are also sharing our paper on
Growth-Oriented Entrepreneurs.
Like you, I am in search of solutions. I welcome your questions, insights and even your push back. Share your thoughts with me at
[email protected].
