In Sam Walton’s Made in America, on page 50, the chapter about Bouncing Back, Sam talks about how he lost $25,000 in attempts to raising fund to construct pavement for a shopping center during his business days pre-Walmart. The deal began to become complicated and he had to back out, leaving him in the hole.
“I probably lost $25,000, and that was at a time when Helen and I were counting every dollar. It was probably the biggest mistake of my business career.”
But in this chapter Walton’s main topic is how he “Bounced Back” from business shortcomings, and in each fall he had, he always found something to learn from.
After is shopping center plans fell to the way side, Walton states “I did learn a heck of a lot about the real estate business from the experience, an maybe it paid off somewhere down the line-though I would rather have learned it some cheaper way”
For some people losing that amount of money would be devastating. I’ve seen people crumble from losing $20-$50. It takes a lot of willpower, determination and a secureness in yourself to know that yes, the situation was fucked, but all you can do is move on and double down on your strengths which is exactly what he did.
He later on risked $1,800 to buy the first Walmart plane for cargo transport. This freed him up well over $25,000 that was used towards driving expenses.
If you liked this read, let me know in the comments or by email at firstname.lastname@example.org. Thank you so much and much more to come!