At Wal-Mart, if you couldn't explain an idea or a concept in simple terms on one page of paper Sam Walton considered the new idea too complicated to implement.

The key to competing and surviving against Wal-Mart is to focus your business into a niche or pocket where you can leverage your strengths in the local marketplace.

Sam Walton instilled ownership of the products in the stores into the collective consciousness of every associate regardless of what job they did for the company.

Sam Walton's values are: treat the customer right, take care of your people, be honest in your dealings, pass savings along to the customer, keep things simple, think small, control costs and continuously improve operations.

Differentiate your products, provide great service and don't even think about trying to compete with Wal-Mart on Price.

Empowering people turns Wal-Mart's culture into a competitive advantage.

When you compete with Wal-Mart, even if you think you've found a niche don't ever become complacent.