10 rules for building a business

Following the recommendation of a close friend, I spent a week in Bentonville. I stopped by Walton’s 5 & 10, Store #1, Wal-Mart Innovation Lab, and the Museum Heritage Lab, having a 2 hour conversation with knowledgeable employees at the front desk. I wanted to understand the deeper story of how Sam Walton imagined and scaled a half-trillion dollar framework and supply chain from brick-and-mortar ideas in a small town.

At the heart of the achievement are “10 Rules For Building A Business” posted at the entrance of the Heritage Lab. The humble, value-centered axioms are easy to understand, yet challenging to stay consistent with, as they require an unselfish honesty without reproach.

Of all the rules, 1 and 10 resonate with me most. Rules 2-9 are the compounding result of executing against them over time.