Doug McMillon (IG: @dougmcmillon) is president and chief executive officer of Walmart, a company that, if it were a country, would be the 25th largest economy in the world. Walmart serves 265 million customers weekly in 27 countries across more than 11,000 stores and online, and the company employs roughly 2.2 million associates worldwide, which would equate to the second largest army in the world (behind China) if it were tasked with defending that 25th largest economy.75 percent of Walmart's store management team began as hourly associates, and Doug is no exception. He started out in 1984 as a summer associate in the Walmart distribution center, and in 1990 while pursuing his MBA, he rejoined the company as an assistant manager in Tulsa before moving to merchandising as a buyer trainee. He worked his way up, and from 2005 to 2009 he served as president and CEO of Sam's Club (owned and operated by Walmart) with sales of more than $46 billion annually during his tenure.From February of 2009 to 2014, Doug served as president and CEO of Walmart International, a fast-growing segment of Walmart's overall operations. He has served on the board of directors for Walmart since 2013 and is currently the chair of the executive and global compensation committees. In addition, he serves on the board of directors of the Consumer Goods Forum, the US-China Business Council and Crystal Bridges Museum of American Art. He also serves on the executive committee of the Business Roundtable and the advisory board of the Tsinghua University School of Economics and Management in Beijing, China.This episode was recorded live at the Heartland Summit in Bentonville, AR, surrounded by the jaw-droppingly mind-blowing Crystal Bridges Museum of American Art. Please enjoy!This episode is brought to you by LinkedIn and its job recruitment platform, which offers a smarter system for the hiring process. If you've ever hired anyone (or attempted to), you know finding the right people can be difficult. If you don't have a direct referral from someone you trust, you're left to use job boards that don't offer any real-world networking approach.LinkedIn, as the world's largest professional network — used by more than 70 percent of the US workforce — has a built-in ecosystem that allows you to not only search for employees, but also interact with them, their connections, and their former employers and colleagues in a way that closely mimics real-life communication. Visit LinkedIn.com/Tim and get $50 off toward your first job post!***If you enjoy the podcast, would you please consider leaving a short review on Apple Podcasts/iTunes? It takes less than 60 seconds, and it really makes a difference in helping to convince hard-to-get guests. I also love reading the reviews!For show notes and past guests, please visit tim.blog/podcast.Sign up for Tim’s email newsletter (“5-Bullet Friday”) at tim.blog/friday.For transcripts of episodes, go to tim.blog/transcripts.Interested in sponsoring the podcast? Please fill out the form at tim.blog/sponsor.Discover Tim’s books: tim.blog/books.Follow Tim:Twitter: twitter.com/tferriss Instagram: instagram.com/timferrissFacebook: facebook.com/timferriss YouTube: youtube.com/timferrissPast guests on The Tim Ferriss Show include Jerry Seinfeld, Hugh Jackman, Dr. Jane Goodall, LeBron James, Kevin Hart, Doris Kearns Goodwin, Jamie Foxx, Matthew McConaughey, Esther Perel, Elizabeth Gilbert, Terry Crews, Sia, Yuval Noah Harari, Malcolm Gladwell, Madeleine Albright, Cheryl Strayed, Jim Collins, Mary Karr, Maria Popova, Sam Harris, Michael Phelps, Bob Iger, Edward Norton, Arnold Schwarzenegger, Neil Strauss, Ken Burns, Maria Sharapova, Marc Andreessen, Neil Gaiman, Neil de Grasse Tyson, Jocko Willink, Daniel Ek, Kelly Slater, Dr. Peter Attia, Seth Godin, Howard Marks, Dr. Brené Brown, Eric Schmidt, Michael Lewis, Joe Gebbia, Michael Pollan, Dr. Jordan Peterson, Vince Vaughn, Brian Koppelman, Ramit Sethi, Dax Shepard, Tony Robbins, Jim Dethmer, Dan Harris, Ray Dalio, Naval Ravikant, Vitalik Buterin, Elizabeth Lesser, Amanda Palmer, Katie Haun, Sir Richard Branson, Chuck Palahniuk, Arianna Huffington, Reid Hoffman, Bill Burr, Whitney Cummings, Rick Rubin, Dr. Vivek Murthy, Darren Aronofsky, and many more.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.
Posting a job on a job board and hoping for the right candidate to find it by chance is not the most efficient way to hire. By actively seeking out the right person, businesses can make more intelligent hiring decisions and achieve significant growth.
Walmart has expanded its grocery pickup service from nothing four years ago to more than 2000 locations today, and serves 70% of the U.S. population by the end of this year. The company employs roughly 2.2 million associates and 75% of the store management team started as hourly associates.
In order to ensure the longevity of their retail company, the speaker describes how they have been dedicating significant amounts of time to learning about healthcare, digitization, negotiation, and other relevant industries.
The former chairman of Joint Chiefs of Staff, Mike Mullen, explains how shared consciousness can lead to empowered execution - meaning taking action based on what everyone knows. The conversation also touches on workforce training and the stress of choosing what to read.
The speaker emphasizes the importance of an adaptable attitude and humanizing leadership to ensure the longevity of a company or organization.
The e-commerce industry in India is currently under 3% of the total business, but is expected to grow significantly. E-commerce businesses in India are constantly iterating and adapting to navigate the disrupted market.
The speaker discusses the strategy behind blending practical and aspirational merchandise to attract consumers to Walmart and other brands, comparing it to the marketing tactic of offering a $200 burger with gold leaf on it. They also mention taking a summer vacation with their family.
The speaker discusses the importance of having a morning routine and suggests getting to work early for quiet time and to get ahead on tasks.
The former CEO of Walmart, Doug McMillon shares some of the tips he has picked up over the years to sustain international travel, which includes getting enough sleep, planning and incorporating healthy habits.
The key to thriving in an ever-changing marketplace is to be open to risk and be willing to let go of old ways of doing things. Drawing conceptual pictures of problems can be a valuable tool in facilitating this process of change.
The episode discusses the importance of contending with feeling overwhelmed or unsure, giving time for change to take effect, and reflecting on past failures that ultimately set the stage for future successes.
The speaker shares a personal experience of social exclusion, and the impact it had on them. They also offer a weekly email subscription service for some pre-weekend fun.
Posting job openings on job boards is the best way to connect with the right person who will help grow your business. Don't leave it to chance and hope that someone will magically find your job opening, be proactive and post on job boards.