Page 176 - Midas Touch

enormous and complex business focused on delivering the lowest prices
on great products. Walmart’s business—the warehouses, trucking,
purchasing, computer systems, everything—is focused on keeping their
promise to deliver low prices, always.

Recently, during the financial crisis that started in 2007, many businesses
were forced to cut their prices just to get people into their stores.
Unfortunately, because some retail businesses were not designed to deliver
low prices, the price cuts put them out of business.

Across the world, millions of small businesses are driven out of business
simply because they cannot compete with the likes of Walmart, Home
Depot, and low-cost online businesses like Amazon. The little things that
count make a business big.

Now that you understand how entrepreneurs keep businesses small by
thinking and acting small, here is how it looks from the business
perspective. We’ll use the B-I Triangle.

The entire B-I Triangle is focused on the little things. The DNA of the
business begins with the mission of the business, the base. Once Sam
Walton was clear on his mission to give his customers the lowest prices
possible, he found his life’s mission and built the rest of the business to
fulfill that mission.