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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

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

I do not understand. When you write, "earned his stripes," what exactly do you mean?

⬐ sayemm

That was his first success as an entrpreneur, selling a Ben Franklin franchise store - http://en.wikipedia.org/wiki/Sam_Walton#The_first_stores

⬐ johndavidback

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

Incidentally, he did serve in the military. :)

⬐ fred_durst

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-stor...

Everything you need to know about Jeff's strategy is in this book: http://www.amazon.com/Sam-Walton-Made-In-America/dp/05535628...

Different medium and market, but basically the same overall strategy.

A lot of what I knew about Walmart came from third party sources (activists, whatever), so I decided to go to a primary and read Sam Walton's book, and I must say it gave me a new appreciation and understanding for the vast machine that is Walmart. I highly recommend it:

http://www.amazon.com/Sam-Walton-Made-In-America/dp/05535628...

⬐ philwelch

Sam Walton has been dead for decades now, and many of his ideas (giving stock to employees, even store workers) made more sense for the early growth stages he oversaw than the company that exists today.

⬐ MikeCapone

Indeed. Not sure what that has to do with what I wrote. The history of Walmart is still the same, and that's what I found so interesting.

⬐ philwelch

The history of Wal-Mart during Sam Walton's life is decades removed from the company's business practices today.

⬐ MikeCapone

True, but I never said it was a book about today's Walmart, just that I found it interesting to learn about that company's history and that I recommend the book.

⬐ MikeCapone

To which I'll add: the past helps better understand the present...