Moonlight rides gave Sam Walton a way to connect with his logistics team. He often spent nights riding in the cabs of Walmart delivery trucks. He wanted to hear what drivers were seeing. On one of those late-night trips, a driver suggested backhauling, picking up merchandise on the return trip instead of driving back empty. […]
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It was the early 1960s in Bentonville, Arkansas. Walmart founder Sam Walton wanted to spend less on marketing so he could charge less. That meant unconventional, low-cost ways to get attention. It was all part of his customer-first business strategy. As part of it, he offered discounted watermelons and free donkey rides. The goal was
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In 1954, Ray Kroc’s McDonald’s success story almost didn’t happen. At the time, he was a 52-year-old milkshake machine salesman with diabetes and arthritis—and very little to show for it. Most people his age were slowing down. Kroc was just getting started. That year, he visited a small restaurant run by the McDonald brothers in
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A McDonald’s franchisee in Knoxville once called Ray Kroc with a problem. A competitor down the street was selling hamburgers for a lower price. The franchisee wanted permission to match the price. Kroc said no. If a competitor could win on price alone, Kroc said, McDonald’s deserved to lose. It sounded irrational. It wasn’t. The
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It’s the early 1980s. Milan. Howard Schultz is in town for a housewares show. The city’s espresso bars stop him cold. They are community gathering spots, a “third place” between home and work. This is the seed of the Howard Schultz leadership style. Baristas knew customers by name. Coffee wasn’t a transaction. It was a
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Howard Schultz stops mid-stride on a Manhattan sidewalk and stares at a bright red “80% off” sign screaming from a boutique window. The world is on clearance. It’s the peak of the financial crisis. Storefronts are plastered with “For Sale” signs. Even Madison Avenue is begging customers to buy. Retailers are cutting prices at any
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The best product doesn’t always win. Power belongs to the person who controls distribution, access, and relationships. The Formula highlights three Bernie Ecclestone business lessons from his tenure at F1: control the game, not the participants; leverage beats authority; and the world revolves around relationships. He mastered all three. Bernie Eccelstone figured that out early—long
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Repetition leads to mastery, but only if you’re repeating the right questions. It’s one of the quieter Tony Hsieh Zappos lessons in Delivering Happiness. At Zappos, repetition showed up as asking why again and again. Hsieh wanted to understand why they were building what they were building. Another lesson Tony Hsieh emphasized was deceptively simple:
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The Zappos business model, selling shoes online, looks obvious in hindsight. But the real Tony Hsieh Zappos lessons come from how it was actually built—through iteration, mistakes, and deliberate choices. Founder Tony Hsieh learned a few lessons building Zappos. One: learn by doing, not overplanning. Two: never outsource your core competency. Three: invest time, money,
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Phil Knight packs Shoe Dog with leadership and entrepreneurial lessons—most of them learned along the way. The themes I keep coming back to are simple: don’t micromanage, manufacture motivation, obsess over craft, tell the truth, contribute, and find your calling. For Knight, leadership starts with a counterintuitive discipline: don’t tell people how—tell them what, then
How Nike Was Built: Truth-Telling, Shoe Dogs, and Phil Knight’s Calling Read More »