25 Sam Walton Quotes That Will help You Succeed as An Entrepreneur

Category: ENTREPRENEURSHIP Published: Monday, 05 November 2018 Written by Life Coach Efosa Emovon

Entrepreneurship


.. “

Sam Moore Walton was a leading American entrepreneur who used the $25.000 loan given to him by his father-in-law to build the biggest retail company in the world. In fact, his retail stores Wal-Mart stores Inc. is today, the world’s largest corporation by revenue as well as the biggest private employer in the world.

Sam Walton was so successful in business in his time that he was named the richest man in American by Forbes magazine in 1985. Even when American was mired in an economic downturn in 1991, Walton’s stores proved successful.

Any wonder he was honored by President H.W. Bush with Presidential Medal of Freedom a year before his death in 1991.

Of course, there is a lot to learn from this great business mind that once walked on the face of the earth. If you wish to succeed faster as an entrepreneur, then you must learn from the master.

How? By meditating and acting on the entrepreneurial quotes below, by Mr. Sam Walton himself. If you let his words of wisdom re-echo in your heart they will help you create an entrepreneural spirit.

Hear Mr. Walton!

                                                                      

 

1.  “Business is a competitive endeavor and job security lasts only as long as the customer is satisfied. Nobody owes anybody else a living.”

 

2. “There is only one boss, the customer. And he can fire everybody in the company from the chairman on down, simply by spending his money somewhere else.”

 

3. “We are all walking together, that is the secret.”

 

4. “Every time Wal-Mart spends one dollar foolishly, it comes right out of our customers’ pocket.”

 

5. “The secret of successful retailing is to give your customers what they want.”

 

6. “If one of my customers comes into the store without a smile, I will give them one of mine.”

 

7. “The key to success is to get out into the store and listen to what the associates have to say.”

 

8. “If you love your work, you will be out every day trying to do it the best you possibly can, and pretty soon everybody around the will catch the passion from you-like fever.”

 

9. And if the associates treat the customers well, the customers will return again and again, and that is where the real profit in this business lies. Not in trying to drag strangers into your stores for one-time purchases based on splashy sales or expensive advertising.”

 

10. “If American business is going to prevail, and be competitive, we are going to have to get accustomed to the idea that business conditions change, and that survivors, have to adapt to those changing conditions.”

 

11. “I had to pick myself up and get on with it, do it all over again, only even better this time.”

 

12. “Great ideas come from everywhere if you just listen and look for them. You never know who’s going to have a great idea.”

 

13. “Maybe I was born to be a merchant, maybe it was fate. I don’t know about that. But I know this for sure: I love retail from the very beginning.”

 

14. “I learned this early on in the variety business: you have got to give folks responsibility, you have got to trust them, and then you have got to check on them.”

 

15. “If people believe in themselves, it is amazing what they can accomplish.”

 

16. “I have always been driven to buck the system, to innovate, to take things beyond where they have been.”

 

17. “If we demonstrate in our sales and our earnings every day, every week, every quarter, that we are doing our job in a sound way, we will get the growth we are entitled to, and the market will respect us in a way that we deserve.”

 

18. “What we guard against around here is people saying, “Let’s think about it.” We make a decision. Then we act on it.”

 

19. “What is really worried me over the years is not our stock price, but that we might someday fail to take care of our customers, or that our managers might fail to motivate and take care of our associates.”

 

20. “Exceed your customer’s expectations. If you do, they will come back over and over. Give them what they want-and little more.”

 

21. “All of us profit from being corrected-if we are corrected in a positive way.”

 

22. “If everybody is doing it one way, there is a good chance you can find your niche by going exactly in the opposite direction.”

 

23. “Swim upstream. Go the other way. Ignore the conventional wisdom.”

 

24. “We used to get in some terrific fights. You have to be just as tough as they are. You can’t let them get by with anything because they are going to take care of themselves, and your job is to take care of the customer.”

 

25. “We are really not concerned with what they are doing wrong, we are concerned with what they are doing right, and everyone is doing something right.”

 


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ENTREPRENEURSHIP

Category: ENTREPRENEURSHIP Published: Sunday, 28 October 2018 Written by Life Coach Efosa Emovon


Entrepreneurship


 

Do These 3 Things to Succeed Faster

in Business

 

Are you planning to start-up a business venture? If yes, congratulations! In fact, you are just about to step on a path that has led many to a life of abundance. But wait! Do you also know that many on this path have become more susceptible to poverty?

Yes, there are rules to follow if you wish to succeed beyond all measures in the business world. While I am writing this with the new and aspiring entrepreneur in mind, it’s totally applicable to all entrepreneurs. Read more..

 

Sam Walton Business Advice And Oath

Entrepreneurs Who Wants to Succeed

in Business Must Take

 

Sam Moore Walton was a leading American entrepreneur who used the $25.000 loan given to him by his father-in-law to build the biggest retail company in the world. In fact, his retail stores Wal-Mart stores Inc. is today, the world’s largest corporation by revenue as well as the biggest private employer in the world.

Sam Walton was so successful in business in his time that he was named the richest man in American by Forbes magazine in 1985. Even when American was mired in an economic downturn in 1991, Walton’s stores proved successful.

Any wonder he was honored by President H.W. Bush with Presidential Medal of Freedom a year before his death in 1991. Of course, there is a lot to learn from this great business mind that once walked on the face of the read more...

 

5 Steps to Selling Your Products And

Services Successfully

 

The aim of the entrepreneur is to first satisfy a need and then make money. That is why after a product development an entrepreneur focuses his or her attention on sales. No matter how good the products or services you render are, without an effective marketing plan, it would be virtually impossible for you to succeed in the business world.

About seventy percent of businesses fail, before the end of their second year of establishment and this had been attributed to poor marketing plan. All properly planned businesses start and end with marketing. As an entrepreneur, it is important that you know this truth and carry it wherever you go. However, it may be helpful to read more...

 

6 Secrets to Quickly Grow Your

Business

 

As an entrepreneur or someone that is about to start-up a business venture you must before anything else understand that you have reached a decision that will make or mar you. Yes, why it is true that many are using this path to arrive at success, it is also true many have become more susceptible to poverty by following it.

It is obvious there is something those who fail on this path don’t know that those who succeed on it know and do, isn’t it? Read more...

 

3 Critical Questions Start-up

Entrepreneurs Must Ask Themselves

 

Before you start-up an enterprise or a venture it is important that you remind yourself the reason you want to become an entrepreneur because it is exceedingly improbable to be driven by a clear principle if you do something for the wrong reason.

And also, it is important to know the laws of business in order to know your boundary. It should be understood that in the business world it is forbidden to throw ashes in the face of a rising wind because it splashes back at your face faster than you thought possible.

What does this mean? It means that a little mistake you make in business can be so costly that you may not get a second chance to correct it. In order not to take the wrong step that has kicked many people out of the business world, you must Read more...

 


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Do These 3 Things to Succeed Faster in Business

Category: ENTREPRENEURSHIP Published: Saturday, 27 October 2018 Written by Life Coach Efosa Emovon


Entrepreneurship


Are you planning to start-up a business venture? If yes, congratulations! In fact, you are just about to step on a path that has led many to a life of abundance.

But wait! Do you also know that many on this path have become more susceptible to poverty? Yes, there are rules to follow if you wish to succeed beyond all measures in the business world.

While I am writing this with the new and aspiring entrepreneur in mind, it’s totally applicable to all entrepreneurs.

The fact is if you do the right thing it is impossible to fail in the business world. Below are the five things to do that can help your business grow within the shortest period of time.

1. Hold your customers in high esteem

According to a successful entrepreneur, “Your smile is your logo, your personality is your business card, how you leave others feeling after having an experience with you becomes your trademark.”

It is exceedingly improbable for a business to survive without customers. In fact, costumes are the lifeblood of an enterprise or venture. When customers reduce profit decreases it is automatic.

A leading American entrepreneur, Sam Walton, knew this that was why he said, “There is only one boss the customer. And he can fire everybody in the company from the chairman on down, simply by spending his money somewhere else.”

To succeed in the business world you must strive at all time to put yourself in customers place. These people come to give you their hard earn money, it should not be difficult for you to understand that they deserve your attention and respect more than anything in the world.

Don’t ever make the mistake to think they need you more than you do because this is the biggest lie of the millennium. This lie can, in fact, destroy your business faster than a bullet kills.

It should be understood that people patronize you not because they will die if they don’t but because they like how you leave them feeling anytime they part with their hard earn money.

No matter how good your goods or services are, always bear in mind that without customers you are going to starve to death.

This consciousness or mental state cannot only prompt you to go the extra miles in satisfying their need but can also help you in making them feel good after having an experience with you.

2. Be open to criticism

It is difficult if not impossible to take your business to a higher level when your best customers are those who love you or always agree with you.

The truth is no matter how tasteless your mother’s meal taste, it must taste sweet in your mouth. The reason is that your love for her possesses the ability to garnish it with the kind of flavor that is out of this world.

What does this mean? This means that you should not use the reviews of your friends or relatives to judge your products or services because most of them buy only to encourage you.

Understand that in the business world your best friends and relatives are your worst enemies. Why? Because their love for you can, in fact, put you out of business faster than you thought possible.

To succeed in the business world you don’t need someone that always agrees with you, but someone who will be bold enough to give you three reasons why you should close your business and look for something else to do.

Your success in business is largely dependent on these kinds of people. In fact, in the business world, they are your true friends. It is virtually impossible to grow without them. Listen to them more because they deserve your attention more. I recommend this motto: No critic no profit. Remember, a product has

been defined as anything that can be offered to a market to satisfy a need or want. The ability of your goods or services to satisfy your customers is even more important than the most expensive advertising campaign.

Therefore, it is very important to be responsive to the needs of your customers by continually improving operational efficiency, creativity, and product quality. This can easily be done by simply listening to your customers complains. Try this motto: No critic no profit.

3. Always wear a smile

An old Chinese proverb says, “A man without a smiling face must not open a shop.” It is important to understand that advertisement can in no small measure help you generate customers, but cannot help you keep them.

If you want to keep customers you must learn to smile often because a simple smile possesses the ability to help you do that.

Come to think of it, you need little or nothing to succeed in the business world because all that you require to start up an enterprise and take it to a higher level are free.

Yes, I say free! In case you don’t know, the biggest capital required to start up a business is not money but your mind. Well, this is a subject for another day. And one of the things needed to take it to a higher level is a smile.

If you desire to succeed as an entrepreneur, there is no alternative to doing the two things listed below: . Learning to light your face with a smile the moment you step into your business environment.

Learning to keep the smile till you close for the day It is also important you understand that customers don’t care to know whether your marriage or relationship is heading for the rock or not, they don’t care to know who insulted you on the way if they don’t see a smile on your face what you are saying to them is goodbye.

If you are losing customers before you blame your government policy or the devil you must first check your face. If a smile is missing from it, know you are the only one responsible for the recession your enterprise or venture is going through.

 



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6 Secrets to Quickly Grow Your Business

Category: ENTREPRENEURSHIP Published: Saturday, 27 October 2018 Written by Life Coach Efosa Emovon


Entrepreneurship


As an entrepreneur or someone that is about to start-up a business venture, you must before anything else understand that you have reached a decision that will make or mar you.

Yes, why it is true that many are using this path to arrive at success, it is also true many have become more susceptible to poverty by following it. It is obvious there is something those who fail on this path don’t know that those who succeed on it know and do isn’t it?

The questions below and the answers provided can help you to succeed beyond all measures on this misunderstood path. What does working as an entrepreneur means? Working as an entrepreneur means many things.

It means you have identified a human need

. It means you have resolved to satisfy a need

. It means you have become a risk taker

. It means you are gainfully self-employed

. It means you are not going to get a query from anyone.

. It means no one is going to tell you what to do and what not to do

. It means that no one is going to pay your salary at the end of the month.

. It means playtime is over

. Working as an entrepreneur means that you have become your own boss and can no longer afford to make those mistakes you made as an employee. Who is an entrepreneur?

In every environment, there is always a need an entrepreneur is that individual who takes extra effort to search, identify and satisfy these needs. The word Entrepreneur was coined from the French word “Entreprendre” meaning to undertake.

Any man or woman that has possession of an enterprise, or venture, and accepts full responsibility for the inherent risks and outcome of the enterprise is an entrepreneur.

Who is not fit to become an entrepreneur?

An individual whose measure of success is a steady job that provides security is not fit to be an entrepreneur. And if you are not ready to accept full responsibility for the inherent risks and outcome of an enterprise or venture you are not fit to become an entrepreneur.

How does one succeed as an entrepreneur?

1. Know what you have become

No matter how small or big your enterprise or venture is you have become a leader, a boss and to succeed you must act like one.

One of the reasons many fail in business is that they hardly come to terms with this fact. In fact, not until you let go of the employee spirit in you, you will keep making those costly mistakes that easily crumble a business venture.

It is the failure to accept this position and shoulder the responsibilities that come with it that kicks many out of the business world. What do you think would happen when a military commander starts playing the role of a private on the battlefield?

Of course, you and I know that defeat is inevitable. Diving into the water of business remains one of the fastest ways to get rich. In fact, if you don’t experience success two to three-years after starting up a business venture knows there is a missing link somewhere.

The first thing to do is to lock yourself up in your room to ask yourself this simple question. Am I acting like a boss? Remember, a boss does not procrastinate, does not give excuses and set unrealistic goals.

A boss is someone that fully understands what the phrase, time management means. After evaluating yourself if you find out you are not, look for a leading entrepreneur to model yourself after in order to be in control of your business venture.

2. Have confidence

Lack of confidence affects sales because most people rely a great deal on information provided by a seller on the point of purchase. An entrepreneur must have confidence because selling is all about convincing people.

You can make people buy anything by simply standing tall in front of them and looking straight into their eyes. According to a business mind, “You have 90 seconds if you are lucky if you can’t make your point persuasively in that time you have lost the chance for impact. Facts and figures are important, but it is not the only criteria, you must present in a manner that generates expertise and confidence.”

Customers want to be sure what they are buying can be of use to them. Simply put, they want a guarantee! Your confidence is the guarantee they need. The fact is when you believe in your products you will enjoy a high degree of confidence.

That is why as an entrepreneur, you must always strive to improve the quality of your products.

3. Have a sound knowledge of the people in the environment you intend to set up your enterprise or where your venture is located

In fact, this should be done before anything else; because the service to render or goods to sell and produce is greatly influenced by the identification of the needs of the people.

Man’s personal and cultural beliefs influence both his perceptions and his interpretations of natural phenomena. Therefore, you must strive to know what their beliefs and ethics are before anything else.

Because this will help you in no small measure to recognize their need, measure the size of their pocket, and know where there are going. Microsoft co-founder Bill Gates said, “The secret of success in business is your detecting where the world will go and getting there first.”

Understand that the key to your success is in their hands. Therefore, if you want to succeed in your business venture there is no alternative to understanding their ways.

4. Be innovative and creative

The world is moving fast you must move accordingly if you want to succeed as an entrepreneur.The need to be innovative and creative as an entrepreneur cannot be overemphasized.

In fact, an entrepreneur who wants to succeed in today’s fast-moving business market must strive to dominate an emerging market by blazing the trail in the implementation of a new idea.

Most of the money bags in the business world today are those who have contributed to the new ways of doing things. If you want to make it big as an entrepreneur before you go to bed at night use at least twenty to thirty minutes to think of one thing your competitors are not doing and start to do it.

There is a big difference between an entrepreneur and an owner-manager. While an owner-manager conducts his business just the way everyone else does it, the entrepreneur does his business in a significantly new and better way than the competitor.

Choose to be different! Don’t use the pattern they use to sell your product. If nothing is wrong with it, they would have all be millionaires. Believe me that little extra will make all the difference in your business.

According to Greek shipping magnate Aristotle Onassis, “The secret of business is to know something that nobody else knows.”

5. Planning function

No matter how big or small an enterprise or a venture is an entrepreneur must set realistic goals and objectives.

To achieve these goals within a specific time frame he must plan and strategize effectively by deploying schemes and methods. It should be understood that planning is a business function which every entrepreneur must contend with throughout the business life.

The whole truth is a plan and a dream are like a husband and a wife, without one success cannot be born.

6. Be willing to take risk

A Mexican leading entrepreneur Carlos Slim Helu once said, “When there is a crisis that is when some are interested in getting out and that is when we are interested in getting in.”

in fact, Mr. Helu has just exposed his money-making secret to you. Facebook founder and billionaire Mark Zuckerberg once told a group of young entrepreneurs that it’s risky not to take chances.

According to Zuckerberg, “In a world that is changing really quickly; the only strategy that is guaranteed to fail is not taking risks.”

In a world where companies and organizations recruit only the best hands Oracle founder Larry Ellison is reputed to hiring unqualified people and training them with manuals and books.

It is said that he would promise people non-existent features and demand that his developers build it. In the fall of 2008, when global markets were falling and companies going bankrupt, Berkshire Hathaway CEO Warren Buffet was busy buying stocks that were rapidly falling in prize and companies going bankrupt.

That year inflation in the U.S brought the unemployment rate to ten percent. In fact, in a single day, that year the U.S stock market lost $1.2 trillion in value.

Buffet in an interview admitted the year was like an economic Pearl Harbor, So the question now is why was he buying stocks that were rapidly failing in prize why everyone else was selling and sacking cash under their pillow?

The answer is simple. Mr. Buffet was able to spot goldmine were everyone saw landmine because he is a risk taker. It may interest you to know that that year Warren Buffet became the richest man in the world with a total net worth estimated at $62 billion by Forbes.

To succeed, an entrepreneur must be willing to face failure by stepping his feet in an unknown path. He must be willing to stand where everyone runs.



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3 Critical Questions Every Start up Entrepreneur Who Wishes to be Successful Must Ask Themselves

Category: ENTREPRENEURSHIP Published: Saturday, 27 October 2018 Written by Life Coach Efosa Emovon


Entrepreneurship


Before you start-up an enterprise or a venture, it is important to remind yourself the reason you want to become an entrepreneur because it is exceedingly improbable to be driven by a clear principle if you do something for the wrong reason.

And also, it is important to know the law of business in order to know your boundary. It should be understood that in the business world it is forbidden to throw ashes in the face of a rising wind because it splashes back at your face faster than you thought possible.

What does this mean? It means that a little mistake you make in business can be so costly that you may not get a second chance to correct it.

In order not to take the wrong step that has kicked many people out of the business world, you must ask yourself the three questions listed below and answers them sincerely.

1. Why do I want to become an entrepreneur?

Sometimes not until we ask ourselves a question and ponder on it we will never realize why we are acting in a certain way, or why we are about to take a certain decision.

Before reaching a decision, if you are wise enough to ask yourself a question and ponder on it, the eyes of your understanding will be enlightened and you will know and understand the consequence of the decision.

For example, if the purpose you want to open a boutique is because of your next-door neighbor you saw bought a car less than a year of opening a boutique, then by asking yourself the question above and pondering on it, you will see it clearly that you have made the wrong decision.

One of the reasons entrepreneurs are the money bags in society is that in every environment whether in the cities, villages or creeks there is always a need or a problem.

Therefore, the Warren Buffet’s and Oprah Winfrey’s of this world are this rich not because they bear a charmed life but because they satisfy a need or solve problems in one way or another.

If the purpose you want to dive into the business water is to get-rich-quick and not to solve a problem, by asking yourself the question above and pondering on it you will come to the realization that you are about to step on a path that will lead you nowhere.

Your intention of doing business defines your reputation. It would be virtually impossible for you to avoid certain mistakes in the business world if your intention of starting up an enterprise or a venture is questionable.

If to make money is the only purpose you start up a business venture, it will be difficult for you to come to the knowledge that it is not by focusing on getting more money but focusing on creating more value that gives a business a rise.

Not by praying and fasting but by listening to costumers complains and making changes as needed that takes a business to a higher level.

2. Am I emotionally ready?

Every career has their low moment, business is no exception. It is important to ask yourself the question above before starting-up an enterprise or a venture because you will definitely come across insurmountable odds on the way.

In fact, some of these odds are so insurmountable that you may find yourself giving up if you are not emotionally and mentally. This is one of the reasons many businesses are folding up today.

Research shows that seventy percent of businesses fail before the end of their second-year establishment. Are you ready to enjoy the profit and suffer the losses? Are you ready to take a huge risk? Are you ready to comply with a new government policy?

If no, then you are not emotionally and mentally ready to build a business venture. If yes, congratulations! You are just about to get rich. 3. Is it something I find pleasurable?

According to a great mind, “If you do what you love, you will never work a day in your life.” If you don’t find what you do pleasurable, before long you will give in to obstacles and give up.

Why? Because the fight in you is smaller than the fight in the obstacle you will have to contend with. It is the height and depth of your love for something that determines the length you can go to get it.

For example, there is nothing in the world you will not do to win the heart of the woman you genuinely love.

As an entrepreneur, if you find it hard to take a risk, to wake up at the middle of the night to draft out plans and design strategies, it simply means you don’t love what you do.

When obstacles knock, you will find yourself giving up and giving down because your zeal to succeed will definitely be smaller than obstacle fight to stop you. A lot of entrepreneurs are so passionate about what they do that they no longer notice obstacle when it comes.

In fact, they conquer it without even knowing. Ask yourself: If you could do anything for eight hours a day for the rest of your life, and money were no object, what would you do.”

If the kind of business you intend to do does not appear to you as fun know you have no business in that niche. Apple boss Steve Job once stated:

“The most amazing words I could ever hear one of our team members say, [and I am humbled to overhear it occasionally], is, “This is the best job I have ever had.” And if it’s not, I would rather help him or she finds that job than help us do we love at his or her own expanse.”

What to do Before setting up a business venture evaluate yourself to know what you are fascinated with.

For example, if you are the type that is fascinated with kids, you don’t need a prophet to tell you dealing on baby products is a perfect market niche for you.

You will definitely succeed in that niche because to go the extra mile to satisfy the needs of those kids won’t be a problem for you because their happiness is your smile. Thanks for giving me your time!

 



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