“This world is inhabited by two kinds of people, one who do only one work throughout their lives and stay happy about it, and the second one, who do every work in their lives and enjoy every pleasure.”
This aforesaid statement simply defines the persona of the Late Sam Walton, a man who did everything in his life and ultimately went on to create a niche for himself as one of the most successful American Entrepreneurs in the entire world. Born on March 29, 1918 near Kingfisher, Oklahoma to Thomas Gibson Walton and Nancy Lee Lawrence, Sam Walton, founder of two gigantic American retail stores Wal-Mart and Sam's Club, was a born fighter. Despite being from a very average, middle class family, Sam never let these hindrances affect his voyage to peak of the success mountain. A true master of all trades, whether studies or sports, Sam was one name common in all these streams of education curriculum. He had an early brush with success when he went on to win the coveted title of being the 'youngest Eagle Scout' in the history of his state. Later in his life, he complemented this achievement with another one when he was awarded with the honour of the 'Distinguished Eagle Scout Award' by the reputed Boy Scouts of America. He even participated in student election and completed a successful stint at the post of 'Vice-president' in both junior as well as senior sections of his school life. After attaining a major degree in Economics from the University of Missouri, Sam also served as a ROTC officer and later on went on to join the American Intelligence Services, ultimately reaching up to the rank of a captain.
As a businessman, Sam Walton's first entrepreneurial venture was of variety store, a franchise of Butler Brothers chain, near Newport, Arkanahas. Sam, with his out-of-box pioneering instincts, managed to hit the bull's eye. His unique and effective business practices fetched him a position that was unachievable in such a short span of time. Opening stores that stayed operational late at night especially in Christmas days, offering items to customers with lucrative discounts and rows stacked with latest items were some practices that not only were profitable but brought him the recognition and goodwill that he deserved. Those who might not know, Sam is known to have invented the practice of buying wholesale goods from the lowest prices supplier, this was one practice that sent his profit margins soaring. It even provided him the much-needed opportunity where he was able to pull of subsequent deals at much lower prices in future with the wholesalers.
After surviving a few setbacks (failure of 'Eagle' department store and others), Sam finally managed to open his first Wal-mart store in the year 1962, in Rogers, Arkansas, which brought him instant success, fame and, not to forget, the title of World's largest corporation in terms of revenue, heading the Fortune 500 list. He even opened the 'Waltons Five and Dime' also famous as 'Walton's 5 & 10', which served as another feather in his cap. Wal-mart's slogan 'The Lowest Prices. Guaranteed!' which changed to 'Save Money. Live Better' in 2007, speaks of the proficiency of Sam Walton's entrepreneurial attitude, which led him to build the biggest store chain in the world.