FOREWORD

Hello, friends, I’m Sam Walton, founder and chairman of Wal-Mart Stores. By now I hope you’ve shopped in one of our stores, or maybe bought some stock in our company. If you have, you probably already know how proud I am of what is simply the miracle that all these Wal-Mart associates of mine have accomplished in the thirty years since we opened our first Wal-Mart here in northwest Arkansas, which Wal-Mart and I still call home. As hard as it is to believe sometimes, we’ve grown from that one little store into what is now the largest retailing outfit in the world. And we’ve really had a heck of a time along the way.

I realize we have been through something amazing here at Wal-Mart, something special that we ought to share more of with all the folks who’ve been so loyal to our stores and to our company. That’s one thing we never did much of while we were building Wal-Mart, talk about ourselves or do a whole lot of bragging outside the Wal-Mart family—except when we had to convince some banker or some Wall Street financier that we intended to amount to something someday, that we were worth taking a chance on. When folks have asked me, “How did Wal-Mart do it?” I’ve usually been flip about answering them. “Friend, we just got after it and stayed after it,” I’d say. We have always pretty much kept to ourselves, and we’ve had good reasons for it; we’ve been very protective of our business dealings and our home lives, and we still like it that way.

But as a result, a whole lot of misinformation and myth and half-truths have gotten around over the years about me and about Wal-Mart. And I think there’s been way too much attention paid to my personal finances, attention that has caused me and my family a lot of extra trouble in our lives—though I’ve just ignored it and pretty much gone about my life and the business of Wal-Mart as best I could.

None of this has really changed. But I’ve been fighting cancer for a while now, and I’m not getting any younger anyway. And lately a lot of folks—including Helen and the kids, some of our executives here at the company, and even some of the associates in our stores—have been fussing at me that I’m really the best person to tell the Wal-Mart tale, and that—like it or not—my life is all wrapped up in Wal-Mart, and I should get it down right while I still can. So I’m going to try to tell this story the best I’m able to, as close to the way it all came about as I can, and I hope it will be almost as interesting and fun and exciting as it’s been for all of us, and that it can capture for you at least something of the spirit we’ve all felt in building this company. More than anything, though, I want to get across once and for all just how important Wal-Mart’s associates have been to its success.

This is a funny thing to do, this looking back on your life trying to figure out how all the pieces came together. I guess anybody would find it a little strange, but it’s really odd for somebody like me because I’ve never been a very reflective fellow, never been one to dwell in the past. If I had to single out one element in my life that has made a difference for me, it would be a passion to compete. That passion has pretty much kept me on the go, looking ahead to the next store visit, or the next store opening, or the next merchandising item I personally wanted to promote out in those stores—like a minnow bucket or a Thermos bottle or a mattress pad or a big bag of candy.

As I do look back though, I realize that ours is a story about the kinds of traditional principles that made America great in the first place. It is a story about entrepreneurship, and risk, and hard work, and knowing where you want to go and being willing to do what it takes to get there. It’s a story about believing in your idea even when maybe some other folks don’t, and about sticking to your guns. But I think more than anything it proves there’s absolutely no limit to what plain, ordinary working people can accomplish if they’re given the opportunity and the encouragement and the incentive to do their best. Because that’s how Wal-Mart became Wal-Mart: ordinary people joined together to accomplish extraordinary things. At first, we amazed ourselves. And before too long, we amazed everybody else, especially folks who thought America was just too complicated and sophisticated a place for this sort of thing to work anymore.

The Wal-Mart story is unique: nothing quite like it has been done before. So maybe by telling it the way it really happened, we can help some other folks down the line take these same principles and apply them to their dreams and make them come true.