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UPIBI-IPN Elaborado por: Rosario L. de

Guevara Araiza.

10 Rules for building a successful

business

SAM WALTONSAM WALTON

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1. Commit to your business.2. Share your profits with all your

associates and treat them as partners.3. Motivate your partners.

4. Communicate everything you possiblecan to your partners.

5. Appreciate everything your associates dofor the business.

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6. Celebrate your success.7. Listen to everyone in your company

and figure out ways to get themtalking.

8. Exceed your customers expectations.9. Control your expenses better than

your competition.

10.Swim upstream.

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1st Commit to your business

Believe in it more than anybody else. Overcome every shortcoming by the

passion your bring to your work. If you love your work, youll be out there

every day doing your best.

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2nd Share your profits with all associates, and

treat them as partners.

They will treat you as a partner.

Behave as a servant leader in your

partnership.

Offer discounted stock, and grant them

stock for their retirement.

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3rdMotivate your partners

Money and ownership alone arent enough.

Set high goals, encourage competitions, and

keep them score.

Keep everybody guessing what your next

trick will be.

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4th Communicate everything you can to your

partners.

The more they know, the more theyll

understand.

The more they understand, the more theyll

care.

Information is power.

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Guevara Araiza.

5th Appreciate everything your associates do for

the business.

A paycheck and a stock option will buy one

kind of loyalty.

We like to hear how much somebodyappreciates what we do for them.

A sincere word of praise worth a fortune.

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6th Celebrate your success.

Find some humor in your failures.

Have fun, and always show enthusiasm.

Think up your own stunt. All of this is more

important and more fun, than you think.

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7th Listen to everybody in your company.

The people on the front lines actually talk to

the customer.

Youd better find out what they know.

You must listen to what your associates are

trying to tell you.

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8th Exceed your customers expectations.

Give them what they want and a little more.

Make good on all your mistakes, and dont

make excuses apologize.

Stand behind everything you do.

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9th Control your expenses better than

your competition.

You can make a lot of different mistakes

and still recover, if you run an efficient

operation. If you are too inefficient you can go out of

business.

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10th Swim upstream.

To the other way,

Ignore the conventional wisdom.

Be ready for a lot of folks to tell you thatyoure headed the wrong way.

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