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Walmart was bootstrapped, starting with a single five-and-dime store. It went public, but to the best of my knowledge, never took on institutional investment pr

Walmart was bootstrapped, starting with a single five-and-dime store. It went public, but to the best of my knowledge, never took on institutional investment prior to that. Say what you will about the company and its business practices today, but the founder's accomplishment was remarkable.

sayemm 12y ago
Sam Walton's biography is one of the best business books I've ever read: http://amazon.com/Sam-Walton-Made-In-America/dp/0553562835 http://amazon.com/Sam-Walton-Made-In-America/dp/0553562835 What's really instructive about his story is that he started his first retail store when he was in his mid-late 20s, sold that and earned his first stripes in his early 30s. And it wouldn't be a decade later until he started Walmart in his early 40s. Walmart was a culmination of several decades of Walton's life that he dedicated to mastering, and dominating, retail.
- hollerith 12y ago
  I do not understand. When you write, "earned his stripes," what exactly do you mean?
  - johndavidback 12y ago
    It's a military reference. Sergeants (I think) have a striped insignia, and it would mean a bump in rank (experience, knowledge, skill). Edit: Not to say he was in the military, it's a metaphor for how Walton gained experience and 'rank' in retail.
    - jonnathanson 12y ago
      Incidentally, he did serve in the military. :)
  - sayemm 12y ago
    That was his first success as an entrpreneur, selling a Ben Franklin franchise store - http://en.wikipedia.org/wiki/Sam_Walton#The_first_stores http://en.wikipedia.org/wiki/Sam_Walton#The_first_stores
- fred_durst 12y ago
  One of the greatest(meaning influential) deals in the 2nd half of the 20th century, in my opinion, was Walmart's acquisition of Big K http://www.nytimes.com/1981/06/23/business/kuhn-s-big-k-stores-plans-wal-mart-tie.html http://www.nytimes.com/1981/06/23/business/kuhn-s-big-k-stor...

sayemm 12y ago

Sam Walton's biography is one of the best business books I've ever read: http://amazon.com/Sam-Walton-Made-In-America/dp/0553562835 http://amazon.com/Sam-Walton-Made-In-America/dp/0553562835 What's really instructive about his story is that he started his first retail store when he was in his mid-late 20s, sold that and earned his first stripes in his early 30s. And it wouldn't be a decade later until he started Walmart in his early 40s. Walmart was a culmination of several decades of Walton's life that he dedicated to mastering, and dominating, retail.

hollerith 12y ago
I do not understand. When you write, "earned his stripes," what exactly do you mean?
- johndavidback 12y ago
  It's a military reference. Sergeants (I think) have a striped insignia, and it would mean a bump in rank (experience, knowledge, skill). Edit: Not to say he was in the military, it's a metaphor for how Walton gained experience and 'rank' in retail.
  - jonnathanson 12y ago
    Incidentally, he did serve in the military. :)
- sayemm 12y ago
  That was his first success as an entrpreneur, selling a Ben Franklin franchise store - http://en.wikipedia.org/wiki/Sam_Walton#The_first_stores http://en.wikipedia.org/wiki/Sam_Walton#The_first_stores
fred_durst 12y ago
One of the greatest(meaning influential) deals in the 2nd half of the 20th century, in my opinion, was Walmart's acquisition of Big K http://www.nytimes.com/1981/06/23/business/kuhn-s-big-k-stores-plans-wal-mart-tie.html http://www.nytimes.com/1981/06/23/business/kuhn-s-big-k-stor...