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 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.

Exceed your customer's expectations. If you do, they'll come back over and over. Give them what they want - and a little more.