Sam Walton Research Paper

1061 Words5 Pages
Bap paper Drew Eidsvold The most successful entrepreneurs are the ones with a strong drive for success. Sam Walton had the strongest drive for succeeding. Being one of those “rages to riches” success stories, he had an idea that was turned down by a huge retailer but was driven enough to continue with his idea, turning him into one of the most successful entrepreneur ever. Walton showed multiple leadership skills and traits to build his success. His ideas have taught me multiple lessons throughout his life. Background of Entrepreneur He was born on March 29, 1918, in Kingfisher, Oklahoma, he had one younger brother named James. (Novaonline) His father was a farmer who ended up going into farm mortgaging because farming did not provide…show more content…
Walmart is notably the biggest retail stores in history. He was inspired to start the store when his idea to operate huge superstores in rural areas that offer wide variety of discounted products was turned down by the company Ben Franklin. He borrowed money against everything he possessed to build the first Walmart in Rogers, Arkansas. That was the by far the biggest risk he ever took that turned out very successful. (inspiredlivingaffirmations) His idea of lower prices made Walmart wildly popular and over the next 5 years the Walton family owned 24 stores gaining up to 12.7 million in sales. (ducksters) A couple years later Walton finally incorporated his company. Then in 1970 he made the company go public with the shares starting at $16.50. In 1980 reached 1 billion in annual sales, faster then any company in history. Then after the success of Walmart, in 1983 Walton started Sams Club a wholesale sales store started with the idea to help small businesses get discounted products. Then in 1988 Walton opened the first Walmart supercenter, which combines the retail store with a full grocery store for the convenience of its customers.…show more content…
One of the skills Walton had was was risk taking meaning he was willing to take sensible risks. (Bovee & Thill 29) The biggest risk he took was when he bet everything he had to take a loan to start his first Walmart. (inspiredlivingaffirmations)The risk worked and the Walmart became successful quickly. Another skill that Walton expressed was the love and drive in the business meaning he loved what he did and was driven by passion to succeed. (Bovee & Thill 29) After his first Walmart became successful his drive to keep succeeding lead him to open more and more. His passion for offering low prices had him start another business to offer lower prices on wholesale items to help small companies. (Walmart) The third quality that Walton showed was adaptation which means he’s highly adaptable and in tune with their markets. (Bovee & Thill 29) There’s no doubt that Walmart knows what the consumer wants. Everyone knows that lower prices on the same items will Attract people and Walton’s idea made that happen. (Walmart) He knew what consumers wanted and even though Ben Franklin and other retailers thought the idea wouldn’t work the idea made the company famous and successful. A fourth quality that he showed was confidence meaning that he knew and believed the company would be successful. (lexicon) Walton showed confidence in his business when ben franklin turned
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