Recently, I have read an autobiography by one of the greatest entrepreneur of all time- Sam Walton. He was born in America and founded the company called WAL-MART, the largest retailer in the world. With all his dedication, determination, confidence, hardwork and support of his family and associates, he was able to start his own company and provide employment opportunities to thousands of american people. In his autobiography, "Made in America", he lists down 10 golden rules for running a successful company that I found so much interesting and fascinating that I couldn't resist myself from sharing this with you. Here, are the rules for Building a Business: COMMIT to your Business. Believe in it more than anybody else. If you love your work …show more content…
In return, they will also treat you as a partner, and together you will all perform beyond your wildest expectations. Remain a corporation and retain control if you like, but behave as a servant leader in a partnership. Offer them discounted stock options, and grant them stock for their retirement. MOTIVATE your partners. Money and ownership alone aren't enough. Constantly, day by day, think of new and more interesting ways to motivate and challenge your partners. Set high goals, encourage competitions, and then keep score. Keep everybody guessing as to what your next trick is going to be. COMMUNICATE everything you possibly can to your partners. The more they know, the more they'll understand. The more they'll understand, the more they'll care. Once they care, there's no stopping them. Information is power, and the gain you get from empowering your associates more than offsets the risk of informing your competitors. APPRECIATE everything your associates do for the business. A paycheck and a stock options will buy one kind of loyalty. But other kind of loyalty is well chosen, well timed, sincere words of praise. They're absolutely free and nothing else can substitute them. They are worth a