Five Things I Learned About Innovation from Sir Richard Branson by Andi Mann

Andi Mann is vice president of Strategic Solutions at CA Technologies, he share the insights shared by Sir Branson, the Virgin Atlantic Tycoon.

Sir Richard Branson

I still cannot believe I had the opportunity to interview Sir Richard Branson one-on-one for our Luminaries video series – in which we interview prominent business, technology and government leaders.

If you have been following along, you know I was hugely excited just to be able to see Sir Richard Branson on stage at the CA World plenary keynote. I wrote about why Branson was a perfect fit for CA World, but now after the event it is hard to describe how energizing his presence, his stories and his ideas were.

However, about half an hour later – when the crowds had long since filed out – Richard (as he prefers to be called) came back out for an ‘intimate’ fireside chat with me on a quiet, empty stage (<– click to see the full video).

Surrounded by five thousand vacant chairs, I saw a completely different Richard Branson. He was less rambunctious and more candid, ultimately both more personal and more engaging. No longer performing for the crowd, he was quietly compelling in our short one-on-one chat.

In just 10 minutes (real time – we did it LIVE!) we covered a lot of ground, but I thought I would distil down just five key ideas about innovation that resonated with me.

1. Bring your own innovation
It is up to all of us to be the innovation we want to see in our businesses. Leaders must establish innovation as a brand-level goal, and everyone must be ready to find and act on their own ideas. Innovation is up to individuals, like you and me.

2. Encourage innovation by tolerating failure
It is important for innovative leaders to praise the successes of their people; but it is also important to avoid damning their failures. If you let people make mistakes, sometimes they will fall flat on their face, but sometimes they will do great things.

3. You have to be better
If you provide customers a fundamentally better product, you can battle giants and win. That means not just about starting out better, but staying better. Success requires continuous innovation, so you can find new opportunities to stay one step ahead of the pack.

4. The biggest innovations may be incidental
A CEO or CIO can use social media to share pics of their lunch or to help control a global business. Innovation itself is not always the goal, but it is often a means to other ends.

5. Find great people and delegate
Innovation requires big picture thinking. Innovators must be brave enough to free themselves from the mundane and routine so they can think big and focus on innovation. At every level, find great people to help you, to free you up for bigger, better things.

There was so much content in such a short interview, it was hard to pick just five key takeaways. You really need to watch it for yourself. I hear new things and have new ideas every time I watch it. Let me know what your key takeaways are – I would love to compare notes

Billionaire Sir Richard Branson admits: 'He smoked drugs with his son

Richard Branson admits: 'I smoked drugs with my son'

Virgin tycoon Sir Richard Branson has revealed that he has taken drugs with his son according to reports from UK Daily Mail.

The extrovert billionaire says he smoked cannabis with model son Sam, now 21, during a surfing holiday in Australia.

Sir Richard, 57, "I went with my son on his gap year. We had some nights where we laughed our heads off for eight hours."

"I don't think smoking the occasional spliff is all that wrong. I'd rather my son did it in front of me than behind closed doors."

In the interview with Piers Morgan for GQ magazine, the entrepreneur also admitted trying cocaine and ecstasy.

He said: "I took ecstasy once. But it didn't have a massive effect on me". Of cocaine, he said: "I suspect I've tried it, yes."

The businessman, reportedly worth £5 billion, claims Rolling Stone Keith Richards was the "first person to teach me to roll a joint".

He said he had not tried super-strong "skunk" cannabis but insisted cannabis was okay "in moderation."

But he added: "I think that skunk is far too strong and dangerous and it should be banned."

But anti-drug campaigners have blasted Branson's drug-taking as "highly irresponsible".

Peter Stoker, director of the National Drug Prevention Alliance, said: "Richard Branson as a parent should know better than to take health-endangering drugs with his child.

In the interview, Sir Richard also described how he became a member of the mile-high club with a married woman.

He told Morgan: "I was sitting in economy on a Freddie Laker flight, next to this very attractive lady, as we headed to LA.

"We got chatting and it went a bit further. And it was every man's dream, to be honest. I was about 19, I think.

"I remember getting off the plane and she turned to me and said, 'Look, it's slightly embarrassing but I am meeting my husband at arrivals, would you mind holding back a bit...'.

"The problem with plane loos generally is that they are very small, and the acrobatics can't take too long because there's no room and people start banging on the door.

"What I remember vividly is seeing four handprints on the mirror as we finished, and thinking I'd better wipe them off."

Asked if he thought the woman knew he was now a famous multi-millionaire airline boss, Sir Richard, 57, said: "I am absolutely certain she doesn't. It was quite nice being anonymous, now I think about it."

Sir Richard's daughter Holly has been previously linked to Prince William - but the tycoon said the pair were "just good friends".

Asked what he would think if love blossomed between the pair and they wanted to marry, he said: "I think that would be a dreadful idea. Nothing against William, but the life the royals lead, and the responsibilities that go with it are very difficult."

SUCCESS SECRETS AND STORIES OF MIKE ADENUGA, The 2nd Richest man in Nigeria

Mike I. Adenuga Jr 

Mike Adenuga Jr was given birth to on April 29, 1953 is the Nigerian Chairman Chief Executice Officer of Globacom. He is rated the  second richest man in Nigeria.

Adenuga ascend to wealth and associated popularity is an interesting story. His resolve to succeed despite all odds started when, while in United states of america, he worked as a taxi cab driver and security guard to support himself at university.

Born on April 29, 1953, Michael Adeniyi Isola Adenuga got his secondary school education at the Ibadan Grammar School, Ibadan, Oyo State, before proceeding to the North-Western University in Oklahoma and Pace University, New York, both in the usa where he studied business administration.

At age 26, Adenuga became a millionaire with connections in high places. With his unique flair for risks and absolute tenacity of purpose, quickly he started making profits in billions of dollars. He is the owner Equitorial Trust Bank and Consolidated Oil, which performs crude oil drilling, refining along with marketing.

His 1st shot into the consciousness of Nigerians was when his company, Consolidated Oil became the first indigenous company to strike crude in December 1991. He lately venture into the telecommunications market. With his Communications Investment Limited, CIL, he was issued a conditional licence in 1999 and frequencies to operate the Global System of Mobile Communications (GSM). The licence was later revoked. Once again, when in 2002, the government through the Nigerian Communications Commission (NCC), organised new auction for the GSM licence, the CIL participated and was one of the four that won the bid. He paid the $20 million mandatory deposit.

However, in the process of effecting the release of the balance payment of $265 million, the corporation was adjudged to have failed to pay within stipulated time. CIL lost both the licence and $20 million deposit. He later went on to bid for the Second National Operator (SNO) licence, and deposited another $20 million. This time around, he was lucky.

He won the bid in August 2002 through his Globacom Limited. The SNO has a wider range of operations as Globacom has the right to operate as a national carrier, operate digital mobile lines, serve as international gateway for telecommunications in the country and operate fixed wireless access phones.

Adenuga’s estate business and company shares traverse several countries in Western European countries, North America and the Middle-East

Men Beware, vicious and greedy girls are now bent on getting their share of celebs Wealth by Hook or Crook': Premier League star who was cleared of gang rape hits out at women who he claims target wealthy footballers in Europe

These girls are vicious and greedy': Premier League star who was cleared of gang rape hits out at women who he claims target wealthy footballers

• Loic Remy accused of raping woman at his flat in Fulham, West London
• But last month police told him he faced no further action over the claims
• He tells of the 'nightmare' moment that police stormed his home at 5am

By DAILY MAIL REPORTER

'These girls are vicious and greedy,' he told The Sun's Rachel Dale, in his first public comments on his ordeal since he was first arrested nine months ago.

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'Nightmare': Newcastle United striker Loic Remy has hit out of 'vicious and greedy' women who target footballers

Twenty-seven-year-old Remy was one of three men last year accused of the champagne-fuelled gang rape of a 34-year-old woman at his rented flat in Fulham, West London.

He denied the allegation, and last month the Metropolitan Police finally said there would be no further action taken against him.

He admitted he should have been smarter, but said: 'When you're a footballer, single and want to have fun, you can have any girl you want.

'Before it was not like that. I see things that make me afraid. I see these girls - what they can do.'

 

Remy's accuser claimed that he, his cousin and his friend raped her last May 6, Bank Holiday Monday, at his £2million rented flat at Marina Point, Imperial Wharf.

It was claimed the woman visited the fourth-floor flat where she was said to have been offered champagne before being raped.

After the alleged assault, it is understood the woman travelled to Kent where she reported the attack to police the following day. They in turn passed on the details to the Met.

Speaking of the moment police stormed his home, Remy said: 'When you are woken up at 5am by seven or eight police, you think it's a dream or a nightmare.'

 

Loic Remy walks out at St. James' for the first time

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Marina Point, Imperial Wharf: Remy's accuser claimed that he and two other men raped her at the Premier League footballer's £2million rented flat in this luxury complex in Fulham, South West London

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Magician: The allegation has not dented Remy's form, he has scored 13 times in his last 24 matches

The allegation has not damaged Remy's form on the pitch. While still on police bail, the striker moved from Queen's Park Rangers to Newcastle United on loan, where he has scored 13 times in 24 appearances.

Remy joined QPR in January for a club-record fee of £8million from Marseille. He earns a salary of £80,000 a week.

He was born in Lyon, where he was brought up on a tough council estate. As a child his hero was Arsenal star Thierry Henry and he was encouraged to become a footballer by a neighbour after his father left the family home.

Meet The Most Generous philanthropist in Nigeria and How He is Making and Giving Out Millions of US Dollars

Prince Arthur Eze

Arthur Eze, a Nigerian Business Tycoon with interest in oil and gas, is a generous man. I know Prince Arthur in the late 80's when he used to be a special guest at my former church's annual harvest and bazaar at St. Gabriel Catholic Church, Umunnachi in Anambra State of Nigeria. The Late Chief Eddie Obi Okoye of blessed memory, the former MD/CEO of the defunct Cooperative and Commerce Bank (CCB) at Enugu,  used to invite Prince Arthur to the aforementioned harvest and bazaar. And when ever Prince Arthur honors the invitation he always donates and supports the event with huge amounts of money. And since then till date Prince Arthur Eze has been rise from riches to wealth to validate the a popular aphorism that ''givers never lack''. No wonder the Prince is prospering, because whatever you are blessed with, you are blessed with it to be a blessing to others with it.
 Prince Arthur is from the Eze royal family in Ukpo, under Dunuokofia Local Government Area of Ananmbra State. One thing i have observed about this industrious son of Anambra is that He always find favour before most Nigerian heads of State and Presidents. 

Prince Arthur has donated generously to a whole lot of noble projects, He is one of the most celebrated philanthropist in Nigeria and he has reportedly donated $12 million (1.8 billion Nairas) to fund the construction of an Anglican church-affiliated Youth Development Center in Nigeria last year 2013.

Eze, who is the founder and Chairman of oil exploration company Atlas Oranto Petroleum, made the donation during a fundraising dinner on Saturday to the St. Stephen’s Anglican Deanery and Youth Development Centre, Otuoke, in Bayelsa State, in Nigeria’s Niger Delta region. Otuoke is the hometown of Nigeria’s President Goodluck Jonathan. Eze is usually referred to as Prince Arthur Eze because he is a descendant of Eze royal familyin Ukpo town in Anambra State.

The St. Stephen’s Anglican Deanery and Youth Development Centre in Bayelsa state will consist of formal educational training facilities, hospitals and a skill acquisition center where youths can learn trade skills and receive start-up capital, among other things.

An elated President Goodluck Jonathan, who was present at the event, thanked the organizers and donors and urged wealthy Nigerians to support the development of impoverished communities in the country and to empower the youths to make them useful towards national development.

He said the project for the St. Stephens Anglican Deanery and Youth Development Centre was dear to him because he wanted to make sure that the younger generation passed through a better system of education different from the one he experienced while growing up.

“I feel the only thing I can do is to make sure that from nursery school to primary and secondary school, there should be a standard educational facility and youth programme, so that it gives opportunity for the younger ones to grow. Even if we die in the next 100 years, people will remember that those before them have something for them,” he said.

Apart from Prince Arthur Eze, who was the largest individual donor, other wealthy Nigerians who were present during the event and donated generously include Jim Ovia, Oba Otudeko, and Tony Elumelu. In total, about $38 million (N 6 billion) was raised for the center.

Eze’s Atlas Oranto Petroleum owns several producing and non-producing oil and gas assets across Nigeria, Liberia, Equatorial Guinea and the Gambia. In 2010, Oranto Atlas sold a set of oil blocks in Liberia for a reported $250 million. Eze is believed to have pocketed $200 million from the sale. The Nigerian businessman is fast becoming one of Nigeria’s more recognizable philanthropists.  Last year, he donated $6.3 million (N1 billion) to flood relief efforts in Nigeria and also made donations to some Nigerian universities.

PROVEN STEPS TO GROW A SMALL BUSINESS

Growing a small business

Every business can have better earning potential, but you have to work to see results. 

 Growing a small business amid today’s competitive market challenges can be a huge task. Often, businesses focus efforts on simply doing more of what’s already being done – running more ads or making more phone calls. Instead, experts say small business owners may achieve success by changing their approach – by thinking big and trying new avenues their competitors have missed.

No matter how small a business is, experts say it can grow into a big one. Indeed, stories abound of small scale businesses that grew to become multinational companies. Despite this, experts say many entrepreneurs do not believe that their small businesses are capable of sharing an amazing story of growth.

As a result, many entrepreneurs do not even bother to take steps to grow their businesses or position them for growth; they are contented with them as they are. In keeping things that way, they often leave their businesses badly exposed to failure.

According to the Chief Executive Officer, Starnex Consultancy, Mr. KunleAdebiyi, a study conducted some years back showed that only one out of every five businesses live up to their fifth year, which means four would have died before they are five years old.

Experts say the stronger a business is the more chances it has of surviving. In strengthening a small business, some of the recommended steps by experts are explained below.

Set goals, keep records

Without goals and records, it is difficult for you to strengthen your business. If a student does not know what he has been sent to school to do, if there is no result given at the end of the term or session, it will be impossible for that student or his or her parents to determine whether the performance is good or the set goal is likely to be achieved. That student, in essence, is like a rudderless ship. This applies to a small business. Nevertheless, experts say many small businesses have limited data about their expenses and income; they cannot give an account for transactions and have no specific targets to pursue. To grow a business, experts stress that such a situation should be avoided. The business should have a clear goal and keep track of its activities or dealings.

Evaluate

Once a business has records of its dealings and a clear goal or goals, it is important for the management to evaluate the progress made from time to time in line with the set goal(s). Questions should be asked about how the business is faring at the moment; is it at the level expected now? Is it likely to achieve set targets?

The performance of the products or services also ought to be considered while evaluating the business. That will make it easier for the problems to be detected and solved so that the business can grow.

Through such evaluations, entrepreneurs can determine whether they need more hands or less or whether their marketing strategy is effective or not.

Get professional help

Experts say many small businesses get it wrong when it comes to seeking professional help. They feel they are too small for such things as an audit, a company lawyer or to employ the services of a consultant. But experts argue that while it is possible for some entrepreneurs to spot and solve problems in their businesses, many others will be better off with professional help and assistance. If a business has been having challenges employing the right people, it is only wise for it to consider engaging the services of a recruitment firm. No doubt, this may mean parting with scarce funds, but it may save the company more in the long run. This is because with the right personnel, the business will be more productive and likely to achieve its goals. Having to hire and fire people frequently can limit a business in many ways, according to experts. Apart from having to pay off the misfits, the business will virtually be stuck on the same spot, losing clients in the process.

Make changes

When things are not going smooth for a business, when it is becoming weak competitively, experts say dramatic changes may be required. It doesn’t matter if the approach you have been using all along kept the business running smoothly for two years. If things are really going badly and an entrepreneur discovers (with the help of a professional or research) that something has got to give, that entrepreneur has to ensure it does. At times like this, there is no room for sentiments. Sometimes it is so bad that a business is required to rebrand. Surely, many entrepreneurs are attached to the names of their businesses. Yet, sometimes a name change is required for the business to survive. According to experts, some of the most successful entrepreneurs today are those who have a knack for making dramatic changes, when the situation calls for it.

Strategise

Change is constant, and people can get bored easily. As time changes, strategies that once were untouchable became ‘relics’ or trash that had to be cast aside. There was a time when phrases such as “The best thing since colour TV” and “The best thing since sliced bread” were common. This is no longer the case. People no longer pause at the sight of sliced bread or colour TV; even 3D television sets will fade away with time. This applies to business strategies. Hence, experts advise that one of the ways an entrepreneur can strengthen a small business is by coming up with new strategies regularly. In the 90s, packaging items such as tomato paste and milk in sachet were the trend. Now, that is no longer a unique selling point for businesses that deal in those items.

Go for the best you can afford

Big companies are always on the lookout for the best. The best hands, the best strategies, the best location, etc. They know that with these, they can beat their competitors and make the best returns.

Small businesses should aim for the same (at their level) and gradually build on it. An entrepreneur is expected to strive to acquire new skills and encourage his employees to do the same.

If the company is into sales, then it should ensure that its employees have adequate training in sales. Knowledge is power and entrepreneurs should know that by acquiring additional knowledge, they are in a better position to help their businesses to grow.

Getting the best is not only in terms of strategies, personnel or returns. It also involves ensuring that the business operates based on best practices in the industry.

Keep employees motivated

Business development experts often argue that no matter the equipment a business has, no matter the investment made, it would all come to nothing if the wrong people are hired to actualise the company’s goals. They further argue that it is one thing to employ the right people and another to get them to constantly deliver or stay productive.

One way of achieving this is to keep your employees engaged and motivated. Motivated employees will not only do what is expected of them, they are willing to take additional responsibilities.

SUCCESS SECRETS & STORIES OF JIM OVIA, FOUNDER OF ZENITH BANK PLC NIGERIA

SUCCESS SECRETS & STORIES OF JIM OVIA, FOUNDER OF ZENITH BANK PLC NIGERIA

The reclusive godfather of Nigerian banking Jim Ovia was born on November 4, 1951 in Agbor, Ika South Local Government Area of Delta State. He was educated at Southern University Louisiana, where he obtained a B.Sc in Business Administration in 1977,  North East Louisiana University, where he earned a masters degree in Business Administration in 1979, and Harvard Business School (Executive Management Program), all American institutions. He commenced his career in 1973 as a clerk in Barclays Bank, now Union Bank. In 1980 he joined International Merchant Bank (IMB) under the technical agreement of First National Bank of Chicago as a financial analyst and in 1987 climbed  to senior manager position.

He became head of the corporate finance department of Merchant Bank of Africa, under the technical management of Bank of America from 1987 to 1990. He acquired primal  experience in IT in 1977 when he was employed as a part-time computer operator at Baton Rouge Bank and Trust Company, Louisiana. He later moved from employee–manager to owner– manager  co-founding  Zenith Bank, and served as its Group Managing Director and Chief Executive Officer from 1990 to July 10, 2010 within which he transformed the service and product delivery system in the banking industry.

Jim Ovia opened a branch of Zenith Bank in Ghana and another branch in London. The bank is in a strategic partnership with respected US group, J.P. Morgan. This joint venture enhances the development of the  Nigerian financial market and aids the expansion of the stock market. For three consecutive  years under Jim Ovia’s direction the bank secured the Web-Jurist award conducted by the website rating arm of Phillips Consulting. A research published by the Chartered Institute of Bankers of Nigeria, CIIB, in collaboration with Mascot Communications Limited rated Zenith Bank Plc top amongst banks that are socially engaged in the country. It was named Bank of the Year in Nigeria for 2005, by Banker magazine, a subsidiary of the Financial Times of London, nominated the most security friendly and conscious bank in Nigeria for 2005 and rated the fourth biggest bank in Nigeria, by the ranking of the Central Bank of Nigeria (CBN), Zenith Bank with Mr. Ovia’s knowledge of computer technology became the first Nigerian bank   to introduce the online-real time system that enables the networking of entire branches.

 Mr. Ovia is promoter and founder of Visafone Communications Limited and is also a renowned motivational speaker. In April 1999 he was the recipient of the Zik Award for professional leadership and was in November 2000 conferred with the National Award of Member of the Order of the Federal Republic (MFR). Ovia became the Chairman of the Nigeria Software Development Initiative (NSDI), Chairman, National Information Technology Advisory Committee (NITAC), a member of the Governing Council, Nigerian Investment Promotion Council (NIPC) and also a member of the Honorary International Investor Council.

He is the founder and Chairman of Mankind United to Support Total Education (MUSTE), a philanthropic organization geared towards the  provision of scholarship for the less privileged,  some of the beneficiaries of whom are Engineers, Medical Doctors, Lawyers and other professionals.

Jim Ovia Jim Ovia participates in a wide range of charitable and community-oriented organizations aimed mainly at the promotion of the advancement of his nation and its inhabitants in an increasingly globalized environment. He is the founder of the ICT Foundation for Youth Empowerment, with the objective of improving the socio-economic welfare of Nigerian Youths by inspiring and motivating them to engage in information technology. He is also a member of the Governing Council of Lagos State University and a member of the Board of Trustees of the Redeemer’s University for Nations, Lagos. He is the proprietor of University of Information and Communication Technology, Agbor, Delta State. He served on the board of American International School, Lagos (2001 – 2003). and helped advance the continued success and propagation of its educational programs for primary, middle, and high school students of all social classes.

Ovia headed various Non-Governmental Organizations (NGO) at different times and was the first President of the Nigeria Internet Group (2001 – 2003); He received the Business Day’s Award  for the top 10 bankers in Nigeria and was among Vanguard’s 20 most outstanding CEO’s in corporate Nigeria in 2002. Mr. Ovia has written and published works on the promotion and propagation of Information and Communication Technology in Nigeria.  In recognition of his immense accomplishments in the area of education, in October 2005 the Lagos State University bestowed him with an honorary Doctorate of Science in Finance.

 Following CBN guidelines Jim Ovia stepped down from the office of CEO of Zenith Bank after after 20-year stint. He is listed by Forbes Magazine as the third richest Nigerian.

Sam Walton: Master Change Agent

Sam Walton: Master Change Agent
David Hatch
Samuel Moore Walton, founder of Wal-Mart Stores, Inc., was an uncommon man living a common life.
When Sam Walton died quietly following a long battle with bone cancer, he left behind a legacy as a folk hero, one of the most influential (and richest) retailers of this century.
The character of "Mr. Sam," as he liked to be called, was made during the Depression. The youngest Eagle Scout in Missouri, state champion quarterback, student council president, and Army officer, Sam learned the value of thrift, hard work, and leadership.
Once out of college and the Army, Sam aspired to an MBA degree and dreamed of becoming president of the United States. Reality intervened, however, and he found himself in Iowa working for JC Penney at a salary of $85 a month. During those lean years, he honed skills for the retail world. He continually pushed retailing to its limits, always experimenting, promoting, changing, and practicing. And yet he remained fixed on what he had learned from James Cash Penney himself — always put customer satisfaction ahead of profits.
In 1945, at the age of 44, Sam opened his first five-and-dime store in Newport, Arkansas. Subsequent success had little effect on the man, though. Ever frugal and modest, he lived in the home he built in 1959 and drove an old pickup truck to work. When he rented a car, it was a subcompact, and he admitted buying his $45 shoes at Wal-Mart.
Wal-Mart's corporate offices are cramped and cheaply furnished. Mr. Walton believed that executives should spend more time on the selling floor than behind fancy desks. To make sure they did, he assembled a small air force that whisked them around the country, visiting Wal-Marts Monday through Friday. Each Saturday morning, back at corporate headquarters, they discussed their findings.
Mr. Sam would often rise before dawn and drop in unannounced at some Wal-Mart store. There he would drink coffee and chat with his favorite folks — the hourly-wage "associates" who stock the shelves and wait on the customers. He always felt the best ideas come from them. The Wall Street Journal noted that on one occasion, he landed his plane next to a highway 100 miles short of his destination. He then flagged a ride with one of his truck drivers and listened. In his own words, "It was so much fun." He piloted his Cessna sometimes to six stores a day and more than 300 a year.
Referring to his surprise visits, he noted in an interview with Fortune magazine: "This is still the most important thing I do — to go around to the stores. I'd rather do it than anything. I know I'm helping our folks when I get out to the stores. I learn a lot about who's doing good things in the office. I also see things that need fixing, and I help fix them."
Much of Sam's work was done with his ears. If he could not get to all of his Wal-Mart associates, he created ways for them to reach him. One was the traditional picnic he hosted in his own front yard. Up to 2,500 employees travelled large distances to enjoy a box lunch within the shadows of their honored leader. He mingled freely, continually asking questions and patting people on the back. Those unable to attend sent letters about 4,000 a month poured into Wal-Mart headquarters. Most contained praise, some were critical, and a few offered new ideas all were answered.
Sam listened to all stakeholders, including employees, customers, suppliers, stockholders, distributors, or even competitors. He held large stockholder meetings with 10,000 people in attendance. By listening to distributors, he plotted a strategy to develop his own fleet of trucks, now one of America's largest. He often visited stores of competitors. To him the competition was a great source of learning.
Because of his own work ethic and concern for people, he had high expectations of others. In a 1986 issue of Wal-Mart World, the company's newsletter, he said: "Our method of success, as I see it, is Action with a capital A, and a lot of hard work mixed in. We've said it through the years: Do it. Try it. Fix it. Not a bad approach, and it works. There are a lot of people out there who have some great ideas, but nothing in the world is cheaper than a good idea without any action behind it. We must be action-oriented doers. It's a whole lot more fun, and accomplishes so much more."
While he expected much, Sam also gave much. He treated people right; he devised a generous profit-sharing plan that is the envy of the industry; and he insisted his managers work with people. His idea of people management is best stated in his own words:
"Most managers lead by fear and intimidation. They think that being tough is being a leader. Nothing is further from the truth. Good leaders add the human factor to all aspects of their business. If you manage through fear, your people will be nervous around you. After a while, they won't approach you with a problem, so the problem gets worse."
"They will be afraid to be creative or express a new idea. They don't feel like they can take a chance because they won't want to risk your disapproval. When this happens, the people suffer, and the business suffers, too. In Wal-Mart, we must treat our people with genuine respect and courtesy. Build strong relationships with your people. Help your associates grow and be all they can be. Show that you really care. You must become a master at communicating with them all aspects of your business and their place in it. The best way you can let them know how much you value their contributions is to show them and tell them, one-on-one. Get to know your people, their families, their problems, their hopes and ambitions. Appreciate and praise them as individuals. Show your concern daily. We are all just people with varying strengths and weaknesses. So true commitment, plus a generous portion of understanding and communication, will help us win. Leaders must always put their people before themselves. If you do that, your business will take care of itself."
His vision remained focused on keeping his family, employees, and customers happy. He not only provided a better environment for the world of Wal-Mart, but for the world at large.
David Hatch, Ph.D., is a Senior Assessment Consultant for Franklin Covey.