#234 Sam Walton: Made In America

What I learned from rereading Sam Walton: Made In America by Sam Walton. ---- Get access to the World’s Most Valuable Notebook for Founders at Founders Notes.com ---- [1:56] The Everything Store: Jeff Bezos and the Age of Amazon by Brad Stone. (Founders #179) [5:45] We just got after it and stayed after it. [6:06] Foxes and Hedgehogs [6:39] Hedgehogs may not be as clever as foxes but they obsessively measure and track everything about their business, and over time, they acquire deep, relevant knowledge and expertise. Their single minded approach may appear risky at times but they are conservative by nature. Hedgehogs don’t speculate or make foolish bets. If all their eggs are in that one proverbial basket, they follow Mark Twain’s advice – and watch that basket very carefully. [7:17] The thing with Hedgehogs is that they never give up. They keep at it – and they don’t ever get bored because they just love what they do – and they have a lot of fun along the way. [7:28] Hedgehogs are the ones who build great, lasting companies. As entrepreneurs, they are the rarest of breeds – those who can start something anew, make it work, stick with it, and build something special, and ultimately, inspire others along the way, with their determination, dedication and commitment. [8:49] At first, we amazed ourselves. And before too long, we amazed everybody else too. [9:26] Think about how crazy this is. He died weeks after that writing this. His last days were spent categorizing and organizing his knowledge so future generations can benefit. [12:32] Poor Charlie's Almanack: The Wit and Wisdom of Charles T. Munger(Founders #90) [12:56] "It's quite interesting to think about Walmart starting from a single store in Arkansas – against Sears, Roebuck with its name, reputation and all of its billions. How does a guy in Bentonville, Arkansas, with no money, blow right by Sears? And he does it in his own lifetime – in fact, during his own late lifetime because he was already pretty old by