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Choosing Not to Participate in a Recession Worked for Sam Walton
Sam Walton chose not to participate in the recession of 1991. Innovation was the key, a Wal-Mart executive told the Northwest Arkansas Business Conference and Expo today in Rogers.
Davis kicked off the luncheon address quoting Wal-Mart Stores Inc. and Sam’s Club founder Sam Walton from a 1991 comment during that year’s recession.
“Mr. Walton, when asked about the recession, said, ‘I’ve thought about it, but I have chosen not to participate.”
She said during the rough start to the 1990s Walton passed the competition by investing in “efficiencies, technology, marketing and innovation.” The result, she said, was his stock tripled and the competition’s was flat.
On a positive note, Davis said, Sam’s notices buying trends that may indicate more entrepreneurial growth.
Today’s entrepreneurs would be well served to heed Mr. Walton’s indirect advice.
Walton
Good advice from a great business mind. I’ve been asked a lot lately whether now is a bad time to start a business. I always reply that a strong business model needs to be able to weather any economic climate, so timing shouldn’t be the deciding factor.