Sam Walton was born into a lower-middle class family in Oklahoma
Sam and his family lived on their farm, selling their produce to make money
Unfortunately, farming did not make them enough money, so his father took up another job at his brothers business
At a young age, they moved from the farm, and Walton became the youngest Eagle Scout in the state of Missouris history
At young ages, Sam would complete chores in order to help his family make ends meet, since times were tough during the Great Depression
Walton attended David H Hickman High School, and was a bright student
Upon graduating, he was considered “Most Versatile Boy”, voted by his peers
Walton attended University of Missouri looking to find a better way to support his family
He attended as an ROTC Cadet
During university, he worked various jobs, including waiting tables in exchange for meals, as well selling magazine subscriptions.
The First Walmart was opened July 2, 1962 in Rogers, Arkansas. He launched a determined effort to make it mostly products from the United States. His vision of the store was one stop shopping. You come to Walmart and buy everything you need. Walton’s model offered two advantages, one it eliminated the competiotrs and second if the store got big enough then it would limit the amount of competition coming near his store. He would corner the market in that area. It worked, his stores got too big that he was the only one in town selling everything in one place. He emphasized logistics which controlled how they were acquiring the goods and how much they were selling them for. Buying in bulk helps you save money you just need to turn it over quickly. These were the type of things that Walton excelled at and made him so successful.