Master Class 2 – The 10 Rules Of Sam Walton

Michael Bergdahl with members of the Dubai Master Class

Michael Bergdahl with members of the Dubai Master Class

Overview

Based on his second book, The 10 Rules of Sam Walton, Michael Bergdahl explains “The Sam Walton Way” through a discussion of the 10 self-professed rules followed by Sam Walton that made him the world’s richest man. (Note: he was worth US$100 billion when he died, double the wealth of Bill Gates!) Michael Bergdahl worked along side Sam Walton and learned his rules firsthand, and in this Master Class he explains the reasoning behind each of them and the revolutionary yet simple tactics that made Walmart a global success story. The goal of this Master Class is to teach participants “The Sam Walton Way” to help them compete, survive and thrive. This Master Class will be highly interactive and thought provoking and will challenge the participants to be leaders!

The Master Class

8:30 – Welcome 
Introduction of The 10 Rules of Sam Walton – “The Sam Walton Way”
  • Rule #1: COMMIT to achieving success and always be passionate
  • Rule #2: SHARE your success with those who have helped you
  • Rule #3: MOTIVATE yourself and others to achieve your dreams
  • Rule #4: COMMUNICATE with people and show you care
  • Rule #5: APPRECIATE and recognize people for their effort and results
  • Rule #6: CELEBRATE your own and other’s accomplishments
  • Rule #7: LISTEN to others and learn from their ideas
  • Rule #8: EXCEED the expectations of others by setting high standards
  • Rule #9: CONTROL your expenses and save your way to prosperity
  • Rule #10: SWIM UPSTREAM, be different, and challenge the status quo
Rule #1: COMMIT to achieving success and always be passionate
  • Have great goals which truly motivate and inspire yourself, and then have a singularity of focus.
  • Commit to doing whatever it takes to achieve your dreams.
  • Do something every single day which moves you in the direction of your dreams.
  • Stay the course – develop great ideas but then focus on bringing them to fruition
  • Have a strong work ethic. Lead by example.
  • Look at every potential “problem” as an opportunity to move ahead in the right direction.
  • Train your mind and your body to become a peak performer.
  • Lead from the front and “walk the talk”.
Rule #2: SHARE your success with those who have helped you Reward people who get results
  • Don’t put upper limits on what people can earn.
  • Always remember information is power.
  • If you want your employees to make intelligent decisions, you have to share everything you know with them.
  • Make it viable and profitable for people to stay with you and develop their own ideas rather than going elsewhere.
  • Set up a structure within which entrepreneurial employees can bring their best ideas to fruition.
  • Act like a highly valued partner to attract and keep the best people.
  • Questions & Answers
10:00 – 10:30 Morning Break
Rule #3: MOTIVATE yourself and others to achieve your dreams
  • Smile often so you create an atmosphere of approachability, openness and trust.
  • Improve your listening skills.
  • Listen completely to what others are saying rather than thinking about what you want to say next.
  • Get others talking about their interests and concerns.
  • Learn people’s names and use them.
  • By referring to people by name, you show you care about them as an individual.
  • Look people in the eye when talking with them.
  • Show people they are important by giving them your undivided attention.
  • Build your human relations skills.
Rule #4: COMMUNICATE with people and show you care
  • Set up regular meetings where you can pass on up-to-date information to those who work with/for you.
  • Use the latest developments in communication technology to enhance the flow of information.
  • Tell employees all there is to know about your business so they can contribute worthwhile ideas.
  • Think local – but keep an eye out for what works elsewhere as well, and use those ideas to best effect.
Rule #5: APPRECIATE and recognize people for their effort and results
  • Catch your employees doing things right and recognize them publicly.
  • Create a recognition culture for your organization.
  • Never leave anyone with any doubt you care about them as a person and recognize their efforts.
  • Treat everyone equally and openly.
  • Get out of your office frequently and manage by wandering around.
  • Identify good things which are happening and give people credit.
  • Questions & Answers
12:00 – 1:00 – Lunch
Rule #6: CELEBRATE your own and other’s accomplishments
  • Find things to celebrate and then come up with something memorable to note that success.
  • Make recognizing personal achievements a part of every staff meeting you run.
  • Create some internal contests or competitions with rewards which will get everyone motivated.
  • Whenever your organization achieves a milestone, mark it with a well-run celebration.
  • Create a fun working environment.
  • Instead of lecturing people on how to do something new, create a fun activity as a teaching tool.
Rule #7: LISTEN to others and learn from their ideas
  • Conduct regular grass-roots opinion surveys to find out what employees really think.
  • Set up other methods to regularly track how employees feel about your company.
  • Take ideas from the people who interact with customers on a daily basis.
  • Make it easy for people to talk to you by being accessible.
  • Practice active listening – focus on what’s being said and what’s behind the words.
  • Empower front-line people to do whatever is required to create satisfied customers and back them up.
  • Have the mind-set leaders serve those who work for your organization, not the other way around.
Rule #8: EXCEED the expectations of others by setting high standards
  • Become obsessed about providing the best customer service experience in your industry.
  • Find practical ways large and small by which you can exceed the expectations of your customers.
  • Do whatever is required to make a happy customer, even if you risk being taken advantage of.
  • Form quality partnerships with your vendors and work together to improve your customer service experience.
  • Questions & Answers
2:30 – 3:00 Break
Rule #9: CONTROL your expenses and save your way to prosperity
  • Ask everyone who works alongside you for ideas on how your business can cut its costs.
  • Approach your vendors and ask how you can work with them more closely to drive costs out of your supply chain.
  • Provide rewards for everyone who comes up with a good cost cutting idea for your business.
  • Set the right example from the top down.
  • Keep your supplier relationships at arms length so the only deciding factor is cost, not personal relationships.
Rule #10: SWIM UPSTREAM, be different, and challenge the status quo
  • Try to think outside the “competitive” box.
  • When everyone else in your industry is doing one thing, look at innovative ways to do the same thing.
  • Challenge your employees for innovative ideas and try what they suggest.
  • Encourage people to take calculated risks.
  • Don’t be hard on those who take a risk and fail, learn from it and move on.
  • Blaze your own trails in business by challenging the tried and true ways of doing things.

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