Sam Walton, the founder of Walmart, started with a failed business idea in the 1960s. Sam Walton pitched his idea of a small-town discount store to his prior retail company’s council and was rejected. After being denied, Sam Walton was not discouraged and ventured on with his discount store idea. Sam Walton changed the face of retail by seeing the problem of lousy service and high prices. He filled the need and created Walmart to serve customers with good customer service and low prices. In the early 1970s, Sam Walton placed 30 Walmarts in places where there wasn’t a lot of competition. Walton solved another problem by targeting rural areas. Rural places appreciated how close and local Walmart was compared to places in the urban areas. “I had no vision of the scope of what I would start. But I had confidence that as long as we did our work well and were good to our customers, there would be no limit to us.” – Sam Walton. Walmart’s priority is its customers, and what plays a big part in this is listening to the employees who speak with them directly from day to day. This communication within the business is how they can target their markets so well and deliver value regularly. Sam Walton instilled low cost, which benefited Walmart with high sales rates, significant margins, and high revenues. Low cost has been sustainable for Walmart since they offer so many varieties of products. Customers can make a one-stop trip to meet all their needs and wants. Sam’s famous techniques were ultimately guided by making the product cheaper, providing customer service, and locating the stores where the competition wasn’t.
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So, he succeeded in a similar way to how Chik-Fil-A succeeded by selling the service and efficiency. Prioritizing customers must have been revolutionary compared to a market focused on products. This is what probably allowed him to become a household name.