I learned early on that one of the secrets of campus leadership was the simplest thing of all: speak to people coming down the sidewalk before they speak to you. I would always look ahead and speak to the person coming toward me. If I knew them I would call them by name, but even if I didn't I would still speak to them.

I got into retailing because I wanted a real job.

I don't know what would have happened to Wal-Mart if we had laid low and never stirred up the competition. My guess is that we would have remained a strictly regional operator.

Control your expenses better than your competition. This is where you can always find the competitive advantage.