Sean Allen Fenn

@seanallenfenn

84 Following

18 Followers

Sean Allen Fenn pfp

Sean Allen Fenn

SelfActualizer $SLFACTZR the memecoin. *exists* https://wow.xyz/0xc17b9726919b5982030c62e0d189ff35bdf1c711 View my @Streamm: https://streamm.tv/profile/327564

0 reply

0 recast

0 reaction

Sean Allen Fenn pfp

Sean Allen Fenn

Methods of Prosperity 50 TL;DR Sam Walton’s franchiser, Butler Brothers, rejected him. This pain fueled determination to create his own discount retail chain. Sam had no sophisticated systems, processes, or organization. He focused on offering merchandise at the lowest possible prices. Selling a product for next to nothing is a counterintuitive way to make a profit. That tactic only works under the following circumstances. Your product attracts attention and customers buy additional products. Walmart had an unsophisticated buying program and limited back office support. Walmart’s team excelled at promoting products, and developed effective merchandising programs. Sam learned from competitors like Kmart. He incorporated successful strategies into Walmart’s operations. Walmart experienced rapid growth from 1958 to 1970. There remained a need for better inventory and sales tracking. That would support further growth and maintain low expenses.

0 reply

0 recast

0 reaction

Lauren Messner pfp

So bullish on this era of America OUT: obesity cope, victim mindset, passive living IN: healthy & hot, pro-capitalism, strong families, personal agency

3 replies

5 recasts

28 reactions

Sean Allen Fenn pfp

Sean Allen Fenn

Part 49. Sam Walton (continued) TL;DR Sam Walton faced a significant setback. He lost the lease to his successful Ben Franklin store due to not having a renewal clause. His landlord pressured him into selling. Learning from this, he sold his smaller department store. With his wife Helen, he left Newport for Bentonville. There, he innovated retail with a self-service model in his new variety store. Which became the foundation for Walmart. Sam and his brother Bud went all-in on a Ben Franklin franchise. It served as the anchor for a shopping center development in Kansas City. Shopping centers were the next big thing. Sam lost $25 K after backing out of another shopping center deal. A tornado hit the Kansas City shopping center. It was later rebuilt. He expanded his retail empire by reinvesting. He hired talented managers, making them limited partners. Discount retail pioneers inspired Walton. He adapted and integrated these concepts into his strategy. He wanted to partner with his existing franchise...

0 reply

0 recast

0 reaction

Sean Allen Fenn pfp

Sean Allen Fenn

Methods of Prosperity 48 TL;DR Sam Walton opened a Ben Franklin variety store franchise in 1945. He engaged in fierce competition with the Sterling store across the street. His main tactic was undercutting prices on items like ladies’ underwear. Sam Walton innovated by buying direct from manufacturers. Thereby saving 25% and passing those savings to customers. Which laid the groundwork for Walmart’s business model. It was against the rules not to buy wholesale from his franchisor. Sam went around them, buying direct from alternative suppliers. His store became one of the top performers in the region. He attracted customers with a popcorn machine. He took out a loan for an ice cream machine, which proved to be profitable. His strategic moves included intercepting a lease for expansion before his competitor could. This led his store to become the largest in Arkansas with annual sales reaching $250,000. After five years of success, his landlord did not renew his lease. Instead, he offered to buy Sam out....

0 reply

0 recast

0 reaction

richie is foraging pfp

richie is foraging

email is the original decentralized social network

3 replies

4 recasts

35 reactions

Sean Allen Fenn pfp

Sean Allen Fenn

Methods of Prosperity 47 TL;DR In 1985, Forbes Magazine declared Sam Walton the richest man in America. He was the founder of Walmart. Sam Walton preferred not to live an extravagant lifestyle. He drove an old pickup truck. He wore a Walmart trucker hat. The local barber gave him regular haircuts. Walmart lost half a billion dollars after the stock market crash in 1987. Walton’s response? “It’s only paper.” Sam Walton was born in 1918 in Kingfisher, Oklahoma. His father, Thomas Gibson Walton, was a natural negotiator and banker who avoided debt. Sam’s mother, Nancy Lee, started a milk business during the Great Depression. Growing up during tough times, Sam learned the value of money early. He contributing to his family’s income. Sam raised rabbits and pigeons, which he sold, as well as magazine subscriptions. Walton graduated with a BA in economics from the University of Missouri. He worked for JC Penney before serving as a captain in the U.S. Army Intelligence Corps during World War II....

0 reply

0 recast

0 reaction

Sean Allen Fenn pfp

Sean Allen Fenn

Methods of Prosperity 47 TL;DR In 1985, Forbes Magazine declared Sam Walton the richest man in America. He was the founder of Walmart. Sam Walton preferred not to live an extravagant lifestyle. He drove an old pickup truck. He wore a Walmart trucker hat. The local barber gave him regular haircuts. Walmart lost half a billion dollars after the stock market crash in 1987. Walton’s response? “It’s only paper.” Sam Walton was born in 1918 in Kingfisher, Oklahoma. His father, Thomas Gibson Walton, was a natural negotiator and banker who avoided debt. Sam’s mother, Nancy Lee, started a milk business during the Great Depression. Growing up during tough times, Sam learned the value of money early. He contributing to his family’s income. Sam raised rabbits and pigeons, which he sold, as well as magazine subscriptions. Walton graduated with a BA in economics from the University of Missouri. He worked for JC Penney before serving as a captain in the U.S. Army Intelligence Corps during World War II....

0 reply

0 recast

0 reaction

Devin Conley pfp

are rent-to-price ratios making a comeback this year? 👀

0 reply

1 recast

2 reactions

Sean Allen Fenn pfp

Sean Allen Fenn

Sean Allen Fenn's personal page for the New Internet, check it out. Thank you @portrait

1 reply

0 recast

2 reactions

Sean Allen Fenn pfp

Sean Allen Fenn

When the Great Miami River flooded Dayton Ohio in March 1913, John Patterson wired The New York Times: “Situation here desperate. All people, except on outskirts, imprisoned by water. They have had no food, no drinking water, no light, no heat for two days.” As the floodwaters rose, Patterson converted the National Cash Register factory. It would now mass produce rowboats to reach and rescue the stranded residents. A community leader at his eulogy had this to say: Patterson “turned the force of men that he had trained into making cash registers into making boats, one a minute, and then sent them into the waters to feed the marooned population, and to take out to safety the sick and the aged, turning his great factory into a hospital and a refuge.” Part 46: John Henry Patterson, Founder of National Cash Register.

0 reply

0 recast

0 reaction

Sean Allen Fenn pfp

Sean Allen Fenn

Accredited investors only. For details, you can talk to me about it here https://t.me/inveresta/2

0 reply

0 recast

1 reaction

Sean Allen Fenn pfp

Sean Allen Fenn

⛲️ new year, new investment opportunity. ⓘ This is not an offer, solicitation of an offer, to buy or sell securities. Past performance is not an indication of future results. Investing involves risk and may result in partial or total loss. Prospective investors should carefully consider investment objectives, risks, charges and expenses, and should consult with a tax or legal adviser before making any investment decision.

1 reply

0 recast

1 reaction

Sean Allen Fenn pfp

Sean Allen Fenn

Out of curiosity, is anyone using Obsidian as a CRM? Love your product!

1 reply

0 recast

0 reaction

Sean Allen Fenn pfp

Sean Allen Fenn

0 reply

0 recast

0 reaction

Sean Allen Fenn pfp

Sean Allen Fenn

Part 45: Sergey Brin and Larry Page (conclusion). TL;DR In 1998, Bill Gross launched GoTo. It was a pioneering search site that introduced pay-per-click (PPC) advertising. PPC works by auctioning search results to the highest bidder. Yahoo acquired GoTo and renamed it Overture. Overture wasn’t a top search destination. But it laid the groundwork for the now-standard PPC advertising model. Page and Brin placed Google under Eric Schmidt’s leadership as CEO. Under his leadership, it evolved PPC further with AdWords in 2002. AdWords enhances it by considering both bid prices and clickthrough rates. It also introduced the “quality score” for ad relevance. This innovation propelled Google ahead of Overture. They attracted major partnerships. Which led to Yahoo’s failed attempt to acquire Google for $3 billion. Google’s strategic advancements continued with the acquisition of Android in 2005. Android allowed Google to enter the mobile market. This move challenged Apple’s iPhone and advertising...

0 reply

0 recast

0 reaction

Sean Allen Fenn pfp

Sean Allen Fenn

Correction: the above was from no.43 no.44 Key lessons: • Product quality is most important. • Competition copies competition. • Solve the whole hard problem. • Never settle. No matter what. • Go the extra mile.

0 reply

0 recast

0 reaction

Sean Allen Fenn pfp

Sean Allen Fenn

My pleasure! Key lessons: • Discover something that no one else is working on that the market needs. • Recognize inefficiencies in your market and improve upon them. • Put yourself in a place to follow your interests and go deep. • Your history has brought you to this moment. • Partner with another genius.

1 reply

0 recast

0 reaction

Sean Allen Fenn pfp

Sean Allen Fenn

Happy Hanukkah!

0 reply

0 recast

1 reaction

Sean Allen Fenn pfp

Sean Allen Fenn

Methods of Prosperity 44. TL;DR They called it “Backrub.” In 1997, the name changed to Google, a misspelling of “googol” — a term representing a 1 followed by 100 zeros. In a 1998 email, Google co-founder Larry Page used the word “googling”. The term gained significant popularity. Pop culture started to reference Google, such as on “Buffy the Vampire Slayer” in 2002. Larry Page and Sergey Brin had no formal business plan. They received a $100,000 investment from Andy Bechtolsheim. This led to the official incorporation of Google Inc. Google would become the leading search engine. It surpassed competitors by refusing to settle for mediocrity. Instead, Google focused on innovation. They found a way to monetize with online advertising. They did it without cluttering their search engine with banner ads. To be continued... Happy Hanukkah!

1 reply

0 recast

1 reaction