I’m not even sure how Sam Walton got on my radar, but when I heard that he worked for JCPenney before building Walmart into a massive empire, I was intrigued. But it wasn’t until I got into his autobiography, Made in America, that I really started to understand his mindset, his journey, and his approach to business.
I’ve been an entrepreneur for over a decade, and his story hit me in a way I didn’t expect. It reminded me that not everything you try is going to work—and that’s OK. Now, I say that all the time, but when you realize Walmart is doing $680 billion a year right now, and back in ‘92, right before he passed, they were already doing $43 billion a year. Man, that expanded my thinking.
One of the biggest things that stood out to me was profit sharing. Sam Walton was big on it, and he broke it down in detail in his book. Now, as I’m rebuilding my company, I’m doing things differently than I did last time. I want to set up key roles in my business where the people working with me actually share in the profits—because when people feel like they own a part of the company, they treat it differently.
I love this model. And I’m already putting it into action. I just structured a profit-sharing agreement for my Creative Director. It’s a one-year plan that starts with an internship phase, then moves into a 10% profit share, and eventually a salary + 5% of net profit. At the end of the year, we’ll reevaluate and adjust as needed.
See, in the past, we’ve done $70,000 months and beyond, and honestly? We weren’t even operating as efficiently as we could have been. Now, as I put this back together, the opportunity feels limitless.
I have no idea if my Creative Director will stick around for the entire year. But I felt like this needed to be done now. And I’m not sure how many positions I’ll build this model around, but I’m excited to test it out.
If you’re building a company, I hope this sparks something in you. Think about how profit-sharing could change the way your team operates. Because when people feel like they own a piece of the business, they move differently.
God Bless The Entrepreneur.
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