Latest / Money And Wealth With John Hope Bryant / The Walmart Blueprint: Leadership, Wealth & The Power of Starting Small

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The Walmart Blueprint: Leadership, Wealth & The Power of Starting Small · Money And Wealth With John Hope Bryant

0:00
Speaker 1: Welcome to Money and Wealth with John Hobriyant, a production
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Speaker 1: of the Black Effect Podcast Network and iHeartRadio. Hey, Hey, Hey,
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Speaker 1: this is Money and Wealth Podcast episode podcast series three
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Speaker 1: on iHeartRadio and the Black Effect Network. I'm John hobe Briant,
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Speaker 1: and you know what I'm about to say. When I
0:28
Speaker 1: bring a guest on to my podcast it and they
0:35
Speaker 1: are pretty special. I want to thank you for listening
0:38
Speaker 1: to me as I dribble on in my individual ministry
0:44
Speaker 1: of finance monologues.
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Speaker 2: Every week.
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Speaker 1: You've made this podcast top one percent in the world
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Speaker 1: and top fifty or so for entrepreneurship, etc. On Top
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Speaker 1: two hundred for business and every content in the world.
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Speaker 2: And I reach a.
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Speaker 1: Point sometimes where I feel that I'm not that best
1:03
Speaker 1: expert or the best communicator on a topic, and that's
1:06
Speaker 1: where I go and reach out for somebody who is
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Speaker 1: the best of the best in their space and area.
1:14
Speaker 1: We've had Michael Milkin on, We've had just the best
1:19
Speaker 1: leaders in each in every category, and there's more special
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Speaker 1: coming up today. We have someone who represents a household name,
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Speaker 1: but you may not know his name, and.
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Speaker 2: He's pretty special.
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Speaker 1: His name is Karen Shanahan that I believe he's going
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Speaker 1: to tell me is Scott is sure it's from that region.
1:41
Speaker 2: It's Irish.
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Speaker 1: Same first cousins, Kieran, that's k I E R A
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Speaker 1: N I can I'm lovely that can say it and
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Speaker 1: spell it.
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Speaker 2: Karen and Uh. He sits in.
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Speaker 1: A position at Walmart, the biggest retailer in the world
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Speaker 1: and the largest employer. I believe it's still true in
2:05
Speaker 1: the world and by the way, the largest employer of
2:08
Speaker 1: African Americans. I believe it's true in the world. And
2:12
Speaker 1: there's many, many other categories. They just hit a tradion
2:15
Speaker 1: dollar mark of valuation not so long ago, which is
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Speaker 1: a major accomplishment.
2:25
Speaker 2: And they are not They are both high.
2:27
Speaker 1: Touch, which is really part of their value added proposition,
2:32
Speaker 1: and their high tech.
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Speaker 2: Increasingly, they're doing.
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Speaker 1: Well and innovating in the technology area, so they keep
2:38
Speaker 1: reinventing themselves. But before we get into the business and
2:41
Speaker 1: unpacking how it works that, you know, that's what we
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Speaker 1: do here in Money and Wealth. I'm gonna tell you
2:45
Speaker 1: a little bit about him and why I asked him
2:48
Speaker 1: to do this. Karen is and I I want to
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Speaker 1: say I met Kieran through the former chairman CEO my
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Speaker 1: Fred Doug McMillan, who just retired as CEO, and John
3:01
Speaker 1: Ferna is a new CEO, another great guy, but I
3:04
Speaker 1: met him through Doug and he's executive vice president and
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Speaker 1: chief opening officer for Walmart US. Now that doesn't land
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Speaker 1: no matter how heavy I say it the way it
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Speaker 1: should because you've heard these EVP titles from many different
3:19
Speaker 1: people going through your life. If you're in corporate or business.
3:22
Speaker 1: The executive vice president for this, executive vice president for that.
3:25
Speaker 1: All I can tell you is that all executive vice
3:28
Speaker 1: presidents are not created equal, and this one is not.
3:33
Speaker 1: And he's chief operating officer. I want you to let
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Speaker 1: this sink in. For Walmart United States, that's the biggest
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Speaker 1: platform they've got, and we're going to get into what
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Speaker 1: that means. He oversees Walmart US stores, operations, and supply chains.
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Speaker 1: That includes strategy, innovation, automation, distribution and fulfillment centers, late delivery,
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Speaker 1: smile delivery, and real estate. Of course, that's a passion
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Speaker 1: of mine.
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Speaker 2: He's not just some staff executive.
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Speaker 1: He's one of the most important people within this organization,
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Speaker 1: the physical machine of Walmart in America that keeps his
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Speaker 1: best in class operation running. He sits close to the
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Speaker 1: company's core engine stores, logistics, delivery, and operational execution and
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Speaker 1: excellence while doing it at a massive scale. He served
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Speaker 1: as EVP of International Operations and Regional CEO for Walmart
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Speaker 1: International Regional CEO, so he's, in my opinion, being primed
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Speaker 1: for even greater things. Earlier, he was EVP and Chief
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Speaker 1: Growth Officer at Sam's Club. Now that means he had
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Speaker 1: a balance sheet responsibility. He was not spending money, as
4:53
Speaker 1: they say on operations. He was our being efficient about it,
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Speaker 1: and he was making money on the growth side, the
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Speaker 1: revenue side. So he's runn both sides of balance sheet
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Speaker 1: and Walmart has really identified him as somebody who can
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Speaker 1: be an operator, a scaler, and a systems leader. He's
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Speaker 1: my kind of guy because he's also just good people
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Speaker 1: and he's a humble spirit, and he's passionate about financial literacy.
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Speaker 2: He and I spent.
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Speaker 1: An hour on the phone just talking about financial literacy
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Speaker 1: as a civil rights issue of this generation and.
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Speaker 2: His passion to embed this within the.
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Speaker 1: Walmart framework, which we'll get into heat as education includes
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Speaker 1: Nottingham Trent University. And yeah, he's just a really cool guy.
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Speaker 1: So welcome on the podcast. My new friend Karen.
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Speaker 3: Thank you, Tom. That was amazing.
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Speaker 4: I might just have you follow me around all day
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Speaker 4: and in my heightman really kind of you. Thank you
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Speaker 4: for having me a really kind introduction. And I think
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Speaker 4: I've gone the best job in the world because I
6:02
Speaker 4: get to work with our one point four million associates
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Speaker 4: and I get a ton of energy from doing that.
6:09
Speaker 4: I started my journey with Walmart as a sixteen year
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Speaker 4: old back in the UK nearly thirty years ago. Never
6:16
Speaker 4: thought I'd work in another country, let alone do a
6:19
Speaker 4: role like this one. But I've been really fortunate to
6:22
Speaker 4: have had the journey. I have to have had the
6:25
Speaker 4: support of people along the way to help me as
6:27
Speaker 4: I navigated being a store manager and a district manager
6:30
Speaker 4: and then moving into other roles like e commerce and
6:33
Speaker 4: merchandising and as you said, at.
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Speaker 3: Sam's and international.
6:38
Speaker 4: And this role is fascinating because I get to work
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Speaker 4: with all of our team and our stores and our
6:43
Speaker 4: supply chain, but also work with our real estate team
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Speaker 4: and determine where we build new stores and new supply
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Speaker 4: chain buildings, and how we remodel the ones we've got
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Speaker 4: and make sure that they're fit for purpose, but also
6:55
Speaker 4: working with our last mile team who do all the
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Speaker 4: deliveries to our customers, our transation team, and then our
7:01
Speaker 4: energy team as well, because we obviously need energy to
7:04
Speaker 4: operate and want to make sure we've been mindful of
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Speaker 4: how we purchase and use energy. So it's a really
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Speaker 4: fascinating job that balancers the day to day and operating,
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Speaker 4: but also building for the future, building capabilities that we'll
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Speaker 4: need to serve customers, and all of it grounded in
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Speaker 4: our people and leading our one point four million people
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Speaker 4: and helping them have the best experience at Walmart, so
7:30
Speaker 4: in turn, they can give our customers a great experience.
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Speaker 1: Let me ask you a question that you won't see coming,
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Speaker 1: but it's always fascinated me. You're in this huge position
7:43
Speaker 1: and you're sitting there with a Walmart invest on. Now,
7:47
Speaker 1: I didn't know what you're gonna be wearing, and we
7:48
Speaker 1: didn't talk about it, but I've noticed that a lot
7:51
Speaker 1: of the senior executives dress just like that. I've seen
7:55
Speaker 1: Doug McMillan in a vest before, the former chairman. See
8:00
Speaker 1: I'm sure John Don's in vest from time to time.
8:03
Speaker 1: But when I was visiting the campus, the original campus
8:06
Speaker 1: which looked like a.
8:06
Speaker 2: School looked like a schoolhouse to me.
8:10
Speaker 1: And the CEO's office was large, was as small as
8:14
Speaker 1: you know, a restroom of a hotel suite back then.
8:19
Speaker 1: And then you guys moved to this new headquarters you
8:21
Speaker 1: built in Bendonville, and you guys do a great job
8:23
Speaker 1: of growing Bendonville. But even in this new campus, there's
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Speaker 1: still this humble spirit that permeates. It's almost like you
8:31
Speaker 1: guys are allergic to arrogance, which I love.
8:34
Speaker 2: You're allergic to attitude.
8:36
Speaker 1: You're allergic to self importance that anybody who comes around
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Speaker 1: with their nose up and like snody probably has to go,
8:44
Speaker 1: I mean, what is and again, what's with the vest?
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Speaker 1: What you I think you? I don't see you. You probably
8:50
Speaker 1: have a name tag? Oh yeah, there it is the
8:52
Speaker 1: name tag. What is the message that that's sending? And
8:56
Speaker 1: then I want to get to their origin story after this?
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Speaker 1: What is the message on?
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Speaker 3: Our culture is very humble.
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Speaker 4: That came from our founder and we work really hard
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Speaker 4: to try and keep it. And even though we are
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Speaker 4: large and we have an enormous business and we serve
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Speaker 4: millions of customers and have you know, thousands of stores
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Speaker 4: a customers interaction with us is one.
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Speaker 3: At a time.
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Speaker 4: So whilst you can zoom out and look at the
9:20
Speaker 4: financials and see the numbers, but a customers interaction is
9:23
Speaker 4: one at a time. Can they get what they need?
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Speaker 4: Did they get good service? Are they happy with the
9:28
Speaker 4: price they paid? And they know they've got a great
9:30
Speaker 4: price and the lowest prices. That's what someone's looking for.
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Speaker 4: So we try and keep that humility because that keeps
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Speaker 4: you grounded in what matters. The other part to that,
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Speaker 4: you know, we know we can always be better, and
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Speaker 4: the last thing you want is to get this hubris
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Speaker 4: or arrogance where you think you've cracked it, because the
9:47
Speaker 4: minute you do that, a customer will show you where
9:49
Speaker 4: you got it wrong, or a competitor will show you
9:52
Speaker 4: where they're doing something differently.
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Speaker 3: That's resonating. So we try to keep that.
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Speaker 4: I think it's it's inherent, but we also want to
9:58
Speaker 4: nurture it and keep it there.
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Speaker 3: The a couple of reasons. I wear it.
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Speaker 4: When I go to a store, people think I'm there
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Speaker 4: to inspect how the store is and how it's looking.
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Speaker 4: What I'm really interested in, how are our associates doing
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Speaker 4: and what's on their minds, and the faster I can
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Speaker 4: get an associate to open up and to feel a
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Speaker 4: level of trust that they can be unvarnished and not
10:25
Speaker 4: sugarcoat what they're saying. The faster I can get to
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Speaker 4: what's really going on, and then I can go back
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Speaker 4: and make sure if there's an opportunity there, we can
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Speaker 4: grasp it and run and get after it. If something's
10:35
Speaker 4: not right, we can get the right people on it
10:37
Speaker 4: to fix it as quick as we can, and we
10:39
Speaker 4: can get moving. And I love getting out to stores.
10:43
Speaker 4: I get a ton of energy from it. Even if
10:44
Speaker 4: a store isn't great, I still walk away energize because
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Speaker 4: I'm getting to spend time with our people, and you're
10:50
Speaker 4: also getting to spent time where the real work happens,
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Speaker 4: like in the store or in the distribution center, or
10:55
Speaker 4: in the delivery truck where we're really serving the customer.
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Speaker 4: So the found if I show up in a sports
11:03
Speaker 4: coat or a jacket, immediately I walk in the door,
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Speaker 4: I'm some guy in a suit from the home office.
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Speaker 3: In my vest a, I'm wearing what our associates wear.
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Speaker 4: It says happy to help on the back, and that
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Speaker 4: means I'm happy to help anyone who asks me, I'm
11:19
Speaker 4: there to serve just as they are, but it also
11:22
Speaker 4: puts me, puts me on their level. My colleague Cedric,
11:25
Speaker 4: he wears different sneakers because if you're into sneakers, you
11:28
Speaker 4: see his sneakers, it breaks the ice.
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Speaker 3: You got something to talk about. So he's very intentional about.
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Speaker 4: How he breaks the ice and builds that just a
11:36
Speaker 4: tiny thing that can help get a connection with someone faster.
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Speaker 4: But it's all in service to hardle I get to
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Speaker 4: the to the unvarnished. And if I'm in a vest
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Speaker 4: I'm just some guy with a funny accent in a vest,
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Speaker 4: I'm not this this suit that's here from the home
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Speaker 4: office to check up on us, and let's tell.
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Speaker 3: Him what he wants to hear. I have no pride
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Speaker 3: in all that.
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Speaker 4: If we've done something and it hasn't worked, I'd rather
12:01
Speaker 4: just know that as quick as possible so we can
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Speaker 4: cost correct. It will never hurt my feelings. If we
12:06
Speaker 4: tried and we screwed it up. I'd just rather go
12:08
Speaker 4: as fast as we can. Retails that I love retail
12:11
Speaker 4: for lots of reasons, but one of the things I
12:14
Speaker 4: love about it is the pace and we can try
12:17
Speaker 4: something Monday and we know if it's working by Tuesday,
12:20
Speaker 4: and if we.
12:21
Speaker 3: Like it, let's go. And if we don't, okay, cost
12:23
Speaker 3: correct go again.
12:24
Speaker 2: Wow, but we're.
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Speaker 4: Very very fast, And back to Sam Well and John
12:30
Speaker 4: tells his story. Still to this day, our financial week
12:36
Speaker 4: starts on a Saturday, so we don't start the week.
12:39
Speaker 3: On a Monday. We start with Saturday.
12:43
Speaker 4: So to John tells his story of why Sam did that,
12:46
Speaker 4: and it was so we had a two day head
12:47
Speaker 4: start on all his competition because everyone else started work Monday,
12:51
Speaker 4: we start Saturday. And Sam used to have a meeting
12:54
Speaker 4: on a Saturday morning where they would review the business
12:57
Speaker 4: from Friday. They talk about what was working, what wasn't,
13:00
Speaker 4: and then we would make decisions and change course. And
13:03
Speaker 4: all of our operators are being in the room in
13:05
Speaker 4: that Saturday meeting. They'd then go start executing. So you
13:09
Speaker 4: time's a two day head start over ten twenty years.
13:13
Speaker 4: When everyone else comes in Monday morning to get going,
13:15
Speaker 4: we'd already started on Saturday. John just explains how that
13:19
Speaker 4: was such a small thing but it had a compounding
13:22
Speaker 4: impact and for us, it's just an example of this
13:27
Speaker 4: urgency to move and if we've done something that you
13:31
Speaker 4: know a customer's not happy about. We want to deal
13:33
Speaker 4: with it quickly. Let's fix it fast. After this, and
13:37
Speaker 4: we have a meeting on a Friday afternoon where all
13:41
Speaker 4: of our market managers, so this would be a leader
13:43
Speaker 4: that maybe is responsible for ten or twelve stores, They
13:47
Speaker 4: all dial in and we do it in a greatly
13:49
Speaker 4: god a toorium with a massive zoom screen. Everybody's face
13:52
Speaker 4: up there. And then we have all of our merchants,
13:55
Speaker 4: our marketing team, our tech teams, our supply chain teams
13:58
Speaker 4: in the auditorium, and our market managers are able to
14:01
Speaker 4: raise feedback and we say, what's on your mind. It
14:04
Speaker 4: can be good, it can be bad, it can be
14:06
Speaker 4: this is an opportunity.
14:07
Speaker 3: It can be I've tried this, it's really working fast. Great.
14:11
Speaker 4: Tell everybody else so everyone else can adopt it and
14:13
Speaker 4: copy it. Or it can be Look, this problem's occurred
14:16
Speaker 4: and it's given me a lot of drama and I
14:18
Speaker 4: need help with it. And then again in that room,
14:20
Speaker 4: we'll try and apply the urgency. Well, let's fix it
14:22
Speaker 4: before we all go home.
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Speaker 3: For the weekend.
14:24
Speaker 4: Let's fix it today, so it's done today, or it's
14:26
Speaker 4: fixed over the weekends. We're not carrying a problem into
14:29
Speaker 4: next week. So I love those forums where we get
14:32
Speaker 4: to hear the unvarnished from the front line, And a
14:36
Speaker 4: big part of what I do is helping encourage that
14:39
Speaker 4: feedback and create the space for it to come, and
14:42
Speaker 4: then creating the urgency to make sure we fix things.
14:46
Speaker 4: And we have a phrase like the best ideas come
14:48
Speaker 4: from the field, like I had to stand by that
14:50
Speaker 4: all day long. The people doing the work, ripping open
14:52
Speaker 4: the box, using the technology, they know what works and
14:55
Speaker 4: what doesn't. The trick is building enough of a level
14:59
Speaker 4: of trust to hear it and then acting upon it,
15:02
Speaker 4: not just listening and doing nothing, acting upon it and
15:05
Speaker 4: fixing it. And as you do that over a period
15:08
Speaker 4: of time, you really build trust because then when someone's
15:11
Speaker 4: giving you feedback and you're acting upon it, you're dealing
15:13
Speaker 4: with it. That builds a level of trust. Then that okay, yeah,
15:16
Speaker 4: if my feedback goes somewhere, Hey, I'm not going to
15:18
Speaker 4: get in serious trouble for saying it. There's no bounce back,
15:22
Speaker 4: there's no comeback, there's no repercussion. We just want to
15:25
Speaker 4: I don't want the unvarnished. I've loads of people telling
15:27
Speaker 4: me how it should be and what it could be
15:29
Speaker 4: and sugarcoating it. So I'd much rather get the unvarnished
15:32
Speaker 4: because then we can get moving and actually make decisions.
15:37
Speaker 2: Where are the decency in you come from?
15:39
Speaker 1: I've noticed it in our first conversation. I've noticed it
15:44
Speaker 1: amongst again a number of the senior leaders there. So
15:47
Speaker 1: it's certainly that somebody is nurtured and cultivated as a
15:50
Speaker 1: culture coming from Sam Walton's origin. But you can't buy that,
15:54
Speaker 1: you can't instruct that. It has to be the roots
15:57
Speaker 1: of that. So very quickly, where does your decency come from?
16:01
Speaker 1: I trusted you within two minutes of us me.
16:06
Speaker 3: I credit my parents in a big way. My mom
16:09
Speaker 3: and dad. They were both school teachers.
16:12
Speaker 4: They left Ireland to come to England for work, and
16:15
Speaker 4: then we were brought up in England. But they both
16:18
Speaker 4: grew up on farms, so they're no strangers to hard
16:20
Speaker 4: work or standards. And my mom's came my dad's Paul,
16:29
Speaker 4: So yeah, yeah, for sure that And then look, I
16:31
Speaker 4: started with a company when I was sixteen, so I
16:34
Speaker 4: grew up in Walmart, so I grew up in our
16:37
Speaker 4: culture and was fortunate to have the coaching, the guidance,
16:41
Speaker 4: the high expectations of different management, store managers, district managers,
16:47
Speaker 4: and leaders I worked with and other associates I worked alongside,
16:51
Speaker 4: and they teach you the standard, they teach the expectation,
16:54
Speaker 4: They teach you how to do the job, but also
16:56
Speaker 4: what to do. And I'm very, very grateful and fortunate
17:00
Speaker 4: to have had that schooling. It's fascinating that Walmart, based
17:05
Speaker 4: here in Arkansas, was able to transmit that culture so
17:09
Speaker 4: effectively four thousand miles away to the UK, and that
17:14
Speaker 4: when I moved then in twenty fourteen, from the UK
17:17
Speaker 4: over to the States, it was like, you know, fitting
17:21
Speaker 4: like a glove, like all the culture. Some of the
17:24
Speaker 4: processes were different. Obviously, the language is a bit different,
17:27
Speaker 4: so I had to learn all that, my accents different,
17:30
Speaker 4: But the culture, the values, our purpose are identical, and
17:37
Speaker 4: you touched on that role. I was very fortunate to
17:39
Speaker 4: go and travel around the world and spend time in
17:41
Speaker 4: different parts of our business.
17:43
Speaker 3: In Africa and Canada and China.
17:45
Speaker 4: And Mexico and Chile, and the same is true of
17:48
Speaker 4: that culture. It's really incredible that we've been able to
17:52
Speaker 4: do that, but also that I feel a very high accountability.
17:56
Speaker 4: Then to maintain that and to respect that and honor that,
18:00
Speaker 4: and nurture it and ensure it stays that way because
18:03
Speaker 4: I'm such a beneficiary of it.
18:07
Speaker 1: It seems like the lesson number one from this podcast
18:11
Speaker 1: is not actually tied to actually the business. It's leadership.
18:15
Speaker 1: And what I'm hearing is you can be you need
18:20
Speaker 1: to be Uh. You can have humility without hubris. You
18:24
Speaker 1: can have confidence without being cocky.
18:27
Speaker 4: Uh.
18:28
Speaker 1: You should have absolutely believe in what you're doing, have
18:31
Speaker 1: a strong set of values. Lead from the front, but
18:35
Speaker 1: don't don't need to be obnoxious to puff your chests.
18:40
Speaker 1: In fact, that is a not only a distraction, it's
18:43
Speaker 1: it's it's corrosive to both building confidence, confetency, getting people
18:51
Speaker 1: follow you. Am I getting this right?
18:53
Speaker 3: I think all of those things. And then the other
18:55
Speaker 3: one for me is there's a a book.
19:00
Speaker 4: Read by a guy called wil Gadara and it's called
19:03
Speaker 4: Unreasonable Hospitality, and he quotes his father in that book
19:07
Speaker 4: a lot, and his dad had a phrase that perspective
19:10
Speaker 4: has an expiration date, no matter how long you try
19:12
Speaker 4: and hold onto it. And his bookies about the restaurant
19:16
Speaker 4: industry and service and He's saying, you know, when you're
19:18
Speaker 4: a busboy busing tables, you'll remember that, But twenty years
19:23
Speaker 4: when you're maybe running that restaurant or either manager or
19:25
Speaker 4: something else, you'll forget what it felt like to do
19:28
Speaker 4: that job. So for me, that perspective has an expiration date.
19:33
Speaker 4: Like I've worked a customer service desk in Walmart.
19:36
Speaker 3: Yes, but it was twenty years ago. So I know
19:39
Speaker 3: the functions of how to do it.
19:41
Speaker 4: I know the policy, I know how the register works,
19:43
Speaker 4: I know how to serve somebody and be kind of
19:44
Speaker 4: everything else, but I've forgotten what it feels like to
19:48
Speaker 4: do that job for seven hours or eight hours at
19:50
Speaker 4: a time, or to have to.
19:53
Speaker 3: Deal with it.
19:53
Speaker 4: So this perspective bit is important to me, particularly in
19:57
Speaker 4: this role. I'm not a qualify truck driver, so I've
20:01
Speaker 4: done a lot of jobs in Walmart. I've done most
20:03
Speaker 4: of the jobs in a store, but I've never got
20:06
Speaker 4: a CDL to drive a semi, so I don't have
20:11
Speaker 4: that perspective of what it's.
20:12
Speaker 3: Like to do that for a living.
20:14
Speaker 4: So the only way I can get even close to
20:16
Speaker 4: get in that perspective is to jump in a cab
20:18
Speaker 4: and sit with a driver for a few hours and
20:21
Speaker 4: drive with them and ask them questions and then listen.
20:25
Speaker 4: And I love when I get to do that that
20:28
Speaker 4: some of our drivers. Our drivers are some of the
20:30
Speaker 4: best on the road. They're phenomenal people. They work really hard,
20:33
Speaker 4: they're very conscientious and care deeply about their jobs and
20:37
Speaker 4: one another, and I love spending time with them. But
20:40
Speaker 4: that's an example of this. I think all those things
20:45
Speaker 4: you said, plus this notion of staying close to who's
20:48
Speaker 4: actually doing the work, and then listening to what they're
20:51
Speaker 4: working on, listening to what they're saying, listening to what's
20:54
Speaker 4: working well, go faster, listen to what's not working so
20:57
Speaker 4: well so you can fix it or address it. And
21:01
Speaker 4: if you're able to do that, you unlock so much value.
21:06
Speaker 4: If we're doing something that's slowing us down, slowing down
21:10
Speaker 4: a million people is not a good use of time.
21:14
Speaker 4: So on our scale and our size and the volume
21:17
Speaker 4: and the complexity of what we do, the simpler we
21:20
Speaker 4: can make it and the more frictionless we can make it,
21:24
Speaker 4: and that directly translates into how we serve our.
21:27
Speaker 2: Customers and profit.
21:29
Speaker 3: Yeah, let's say the top line, bottom line, all of it.
21:32
Speaker 4: But if I just go through what's that associate experience
21:35
Speaker 4: that directly impacts what our customer experience is and that
21:38
Speaker 4: so that's where we put a lot of our focus
21:41
Speaker 4: and energy to improve that.
21:43
Speaker 1: When we were offline before we started the podcast, I
21:47
Speaker 1: got I'd done something that I tell people not to do.
21:49
Speaker 1: I started intellectualizing and complicating a simple issue, and I
21:54
Speaker 1: was trying to make the perfect best of the good.
21:56
Speaker 1: I already had good, but I want it perfect because
21:59
Speaker 1: I'm affect perfection. And Kieran did what he just did
22:02
Speaker 1: for you off camera. He said, basically, John, we're just
22:06
Speaker 1: trying the customer or what the end, they just they're
22:09
Speaker 1: just trying to meet rent today. They're just trying to
22:11
Speaker 1: they're trying to have a good moment. They're just trying
22:13
Speaker 1: to solve a problem. And you're doing that for them,
22:16
Speaker 1: and let's stay you know I think it Just stay
22:18
Speaker 1: focused on that and the other stuff will sort of
22:21
Speaker 1: take care of itself or it won't. And that aligns
22:24
Speaker 1: with what I tell people all the day, all the time,
22:25
Speaker 1: which is ignore the noise. So sometimes you need to
22:29
Speaker 1: be reminded by someone else of your own core values
22:33
Speaker 1: to reinforce and get you back online. When I go
22:36
Speaker 1: to a city, I always tell the driver get off
22:38
Speaker 1: the freeway, go to an inner city, go to a
22:40
Speaker 1: rural area. Don't just take me to the nice hotel.
22:43
Speaker 1: I want to see how people are living in Columbus, Ohio,
22:47
Speaker 1: or wherever it is, Dallas, Texas. So I get that
22:50
Speaker 1: sense of the post field. It's the same thing that
22:53
Speaker 1: Kieran just said in a different way. So you see
22:55
Speaker 1: these leadership values translate. I want to get a couple
22:58
Speaker 1: of really good questions in it before we run out
23:01
Speaker 1: of times. As you can hear, I enjoyed talking to him,
23:03
Speaker 1: and we could go on for an hour, an hour,
23:05
Speaker 1: hours and hours on these topics where we don't have
23:07
Speaker 1: limited time, and I want you to get lessons out
23:08
Speaker 1: of this number two. We're talking about leadership and lessons
23:11
Speaker 1: and core values and what matters, what doesn't please. Everybody
23:15
Speaker 1: obsess on that because otherwise you'll win the battle and
23:18
Speaker 1: you'll lose the war. People may want to do business
23:21
Speaker 1: with you, but if you're obnoxious, are people think you're arrogant,
23:26
Speaker 1: they're just unlikable. You're not warm, You'll lose a business.
23:30
Speaker 1: You won't know how and won't know why. If you're
23:31
Speaker 1: not relatable. So don't stop looking at if your Instagram
23:34
Speaker 1: feed and start looking at your customer feed and how
23:38
Speaker 1: to feed your customer.
23:41
Speaker 2: Well.
23:41
Speaker 1: Sam Walton is the epitome of what we're talking about here.
23:44
Speaker 1: He started while Mart at forty four. I think the
23:47
Speaker 1: era when he took a public it was fifty one ish,
23:51
Speaker 1: but he was started at forty four with a pickup
23:54
Speaker 1: truck and a storefront. Get us quickly. I don't want
23:57
Speaker 1: to spend a lot of time on this, but I think
23:58
Speaker 1: it's worth a few minutes. Tell us about that origin
24:00
Speaker 1: experience and the struggles he had that he would have
24:03
Speaker 1: been understand went easy, and the pull through to how
24:07
Speaker 1: that is Walmart today, and then we'll go to some
24:09
Speaker 1: questions about the current operations.
24:11
Speaker 4: Yeah sure, and look I'm repeating history. I've studied and
24:15
Speaker 4: learned and have been fortunate to hear from people that
24:18
Speaker 4: knew him. But he passed in nineteen ninety two, so
24:23
Speaker 4: I was ten eleven years old when he passed and
24:26
Speaker 4: had never been to the States. So it's a real,
24:31
Speaker 4: real honor to get to speak to people who still
24:33
Speaker 4: work for us or who have worked for us, that
24:35
Speaker 4: would have known him, spent time with him and interacted
24:38
Speaker 4: with him, and hear their first hand accounts of that.
24:41
Speaker 4: But yeah, Sam started in rural America. It was after
24:47
Speaker 4: the Great Depression. He got into discount retail through franchising,
24:51
Speaker 4: so he worked and got a Ben Franklin store franchise.
24:57
Speaker 4: He was good, he was a student of the business,
25:00
Speaker 4: he was curious, he took risks, he wasn't afraid to
25:05
Speaker 4: do something different and swim upstream, and he made that
25:08
Speaker 4: Ben Franklin incredibly successful. But then his landlord saw what
25:14
Speaker 4: he was doing and wanted a bit of that business
25:16
Speaker 4: for himself. And when Sam's lease ran out, he didn't
25:19
Speaker 4: renew it and he basically said, no, you're done.
25:22
Speaker 3: I'm not renewing, and he let So Sam had to
25:25
Speaker 3: leave this story.
25:26
Speaker 4: Just spent all these years building up and making really successful,
25:29
Speaker 4: and someone else came in and took it over.
25:31
Speaker 3: So you're right, at the age.
25:32
Speaker 4: Of forty four, Sam had to start over. And I
25:37
Speaker 4: am forty five.
25:37
Speaker 1: Now.
25:38
Speaker 4: I remember last year talking about this and reflecting, Man,
25:41
Speaker 4: he's forty four, that's my age. Like the notion that
25:44
Speaker 4: you'd totally start over at this stage was so so interesting.
25:48
Speaker 3: But yeah, he got started.
25:51
Speaker 2: They tried to steal his business idea essentially right.
25:54
Speaker 3: Essentially, or just saw what he'd been able to do.
25:56
Speaker 4: And I think the landlord wanted it for one of
25:58
Speaker 4: his family and thought he could let Sam out of
26:00
Speaker 4: the way and let let his son take over. But
26:03
Speaker 4: so Sam got going. I think learned that lesson. He
26:06
Speaker 4: borrowed money from his father in law, and then he
26:09
Speaker 4: did the same thing over again in a different city.
26:11
Speaker 3: Which happened to be Bent and Bill, Arkansas. And here
26:16
Speaker 3: we are all these.
26:17
Speaker 4: Years later, and the store he founded on the square
26:22
Speaker 4: is now a museum.
26:23
Speaker 3: You can go in there and walk around it.
26:25
Speaker 4: So that that's fascinating us to think of what that
26:28
Speaker 4: small town five and dime was and what it became.
26:30
Speaker 4: He then, you know, realized, as that was being really successful,
26:34
Speaker 4: as he started expanding, he grew the size of the
26:37
Speaker 4: store and built a slightly bigger store. The story is
26:42
Speaker 4: Walmart came around because they couldn't afford to call it
26:44
Speaker 4: walton Mark, and Walmart was cheaper, so that's why it's Walmart.
26:48
Speaker 4: It was, you know, three less letters to buy on
26:51
Speaker 4: the signage. And I would say the seventies and we're
26:55
Speaker 4: really around building realizing when you break down the costs
26:59
Speaker 4: of retail, where was the money being spent.
27:01
Speaker 3: If we could do distribution.
27:03
Speaker 4: And supply chain ourselves, that was margin. We didn't have
27:07
Speaker 4: to pay somebody else. If we were able to go
27:10
Speaker 4: and buy ourselves rather than buying through a distributor, we
27:14
Speaker 4: could save some money then pass that money back onto
27:16
Speaker 4: our customers. So I think those early lessons of operating
27:19
Speaker 4: with every day low cost came through in the seventies.
27:22
Speaker 4: The eighties then became scaling and true of distribution and transportation.
27:27
Speaker 4: If we could do ourselves, we could save money, control
27:31
Speaker 4: it and do it well, but also pass those savings
27:33
Speaker 4: onto the customer. And then in the eighties, I think
27:35
Speaker 4: you saw that really scale with technology powering it as well,
27:39
Speaker 4: and realizing the importance of data and being able to
27:42
Speaker 4: connect data to drive the business and equip our leaders.
27:46
Speaker 4: Then we, you know, after several attempts, came upon the
27:49
Speaker 4: supercenter format, which has been a powerhouse of retail. I
27:53
Speaker 4: would say, of just a really effective destination for customers
27:58
Speaker 4: to get what they need with really really low prices,
28:02
Speaker 4: really a broad assortment and the different services and everything
28:06
Speaker 4: in one go. And what started in fairly rural towns
28:10
Speaker 4: then started to go into larger towns and cities and
28:13
Speaker 4: obviously where we could then support it. There might be
28:15
Speaker 4: two or three Walmarts rather than just one in a town.
28:18
Speaker 4: So then you get into the two thousands, and I'd
28:21
Speaker 4: say it was more around going within the US and growing,
28:23
Speaker 4: but also going overseas and you know Walmart, but as
28:27
Speaker 4: the chain in the United Kingdom that I worked for
28:30
Speaker 4: in ninety nine. I'll come back to that because there's
28:35
Speaker 4: an important story about financial literacy there. And then we
28:39
Speaker 4: know grew into other market We went into Mexico I
28:41
Speaker 4: think in ninety two, as do As ninety nine, and
28:44
Speaker 4: other markets around the world. And then then I think
28:47
Speaker 4: the as the customer changed, we then had to evolve
28:50
Speaker 4: into e commerce and adjusting our business and changing how
28:55
Speaker 4: we work to serve customers in new ways and the
28:57
Speaker 4: way that they wanted to be served both on line
29:00
Speaker 4: and in store.
29:01
Speaker 3: So that's a quick history.
29:05
Speaker 4: John book probably takes you up to the you know,
29:08
Speaker 4: early two thousands.
29:09
Speaker 1: So being in Bittonville was a bit of an an accident,
29:15
Speaker 1: so to speak. In other words, that wasn't the first store,
29:20
Speaker 1: that was the restart, right.
29:22
Speaker 3: Yeah, that's true. Yeah, he was in newpaul Aarkansas.
29:25
Speaker 1: I think Wow and Benonville, and today Bittonville is basically
29:30
Speaker 1: I say it, you won't say it. Uh, it's basically
29:33
Speaker 1: you know many many It's like Walmart USA. You've built
29:37
Speaker 1: You've built an economy for Bittonville which is fabulous, a
29:40
Speaker 1: middle class and a working class and all these opportunities,
29:44
Speaker 1: a really sophisticated place around the success of being Walmart's headquarters.
29:52
Speaker 2: And that was a bit of an accident, in other.
29:55
Speaker 1: Words, Bntonville was an accidental recipient of that first story
30:00
Speaker 1: not working out.
30:01
Speaker 3: Yeah, we're very fortunate.
30:03
Speaker 4: I mean I've lived in dozens of places around the
30:06
Speaker 4: world and around this country, and it's a.
30:09
Speaker 3: Great place to live, great place.
30:11
Speaker 4: To bring up kids, and very outdoors and you know,
30:15
Speaker 4: Arkansas called the natural state for good reason.
30:18
Speaker 3: So we're very fortunate.
30:20
Speaker 4: And yeah, the town's changed a lot, for sure over
30:23
Speaker 4: the years. I first came here in two thousand and three,
30:27
Speaker 4: so I've been able to see some of how it's
30:28
Speaker 4: changed over the years. But yeah, it's a great place
30:32
Speaker 4: to live, as I said, to raise a family and
30:36
Speaker 4: good people, you know, hard working, respectful people. Origins in
30:41
Speaker 4: agriculture and farming and that's still true today.
30:46
Speaker 1: Tell me about tell the audience the difference between Sam's
30:51
Speaker 1: Club in Walmart? Why do you have both? Are there
30:57
Speaker 1: other brands that people don't know about? Why the differentiation?
31:01
Speaker 1: Why do not just have Walmart? And then I want
31:04
Speaker 1: to get into wealth creation and financial literacy and your
31:08
Speaker 1: associates and is it possible, by the way, to do
31:11
Speaker 1: that with your employee group. But let I'm trying to
31:13
Speaker 1: cover a lot of ground in this podcast.
31:15
Speaker 2: Yeah, sure.
31:16
Speaker 4: Sam's is a membership club, So customers paid paid to
31:20
Speaker 4: become a member, and then for that membership, for what
31:24
Speaker 4: they've paid, we want to make sure we give them value.
31:28
Speaker 4: And that value might be in the form of lower
31:30
Speaker 4: priced items. It might be in the form of services
31:33
Speaker 4: and uh and an assortment that they can't get elsewhere,
31:39
Speaker 4: or it might be in the form of convenience and
31:42
Speaker 4: things that we offer them.
31:43
Speaker 3: So Salms is a great part of Walmart.
31:45
Speaker 4: It's a great business within a business. It has a
31:50
Speaker 4: distinct value proposition to its members. People love Sam's and
31:55
Speaker 4: that the people that work there do a phenomenal job
31:57
Speaker 4: of curating the assortment that they offer. It's limited items,
32:01
Speaker 4: so it might be five or six thousand items as
32:04
Speaker 4: opposed to the couple one hundred thousand items you'd find
32:08
Speaker 4: in a supercenter. Wow, it's at a value, it's with
32:12
Speaker 4: a convenience, and then it has a lot of added
32:14
Speaker 4: value services like meat and bakery and cafeteria and optical
32:19
Speaker 4: and pharmacy and tire and auto care center, so a
32:24
Speaker 4: lot of services that complement the core membership but plays
32:29
Speaker 4: an important role in a lot of customers, a lot
32:32
Speaker 4: of members' lives. And you know a lot of small
32:37
Speaker 4: businesses and people who host.
32:39
Speaker 3: Whether that's through their work or through their church, or.
32:42
Speaker 4: Through their school or family, that they would want to
32:46
Speaker 4: access Sam's for the prepared meals or the items and
32:51
Speaker 4: services that they offer that suit what they need.
32:54
Speaker 3: We shot both, honestly.
32:57
Speaker 4: We love going to the club to see what's new
32:59
Speaker 4: and what's that exciting, and my boys will often ask
33:03
Speaker 4: to go some weekends.
33:05
Speaker 3: And then, as you'd expect, spend a.
33:06
Speaker 4: Lot of time in Walmart as well. And then the
33:09
Speaker 4: interesting bit with with e comm now is that people
33:12
Speaker 4: can access everything I've just said from their phone as
33:15
Speaker 4: well and get it delivered to home. And sometimes you know,
33:20
Speaker 4: people shop a bit of both and and maybe different
33:23
Speaker 4: items that they want.
33:24
Speaker 3: So that's how Salms works. It's a great part of Walmart.
33:29
Speaker 4: We I think it leverages the best of Walmart, but
33:32
Speaker 4: it's also unique and distinct in who they are and
33:35
Speaker 4: who they're serving and how they're serving them. And then,
33:37
Speaker 4: of course in Walmart, we serve everyone. We serve everyone,
33:42
Speaker 4: and we're really proud to do that and honored to
33:44
Speaker 4: play that role. And whether you're looking for your groceries
33:47
Speaker 4: for the week, whether you're looking for a snack and
33:50
Speaker 4: you're on a road trip, whether you're looking for a
33:53
Speaker 4: birthday present, or to you know, you're doing a project,
33:57
Speaker 4: you need some tools or some equipment to fix up
33:59
Speaker 4: a part out of your house, or if you can't
34:01
Speaker 4: need an oil change, or you need a prescription delivered.
34:04
Speaker 3: We've got you.
34:05
Speaker 2: Look massager.
34:08
Speaker 3: That one of my favorite things. You seen it, you'll
34:12
Speaker 3: get it.
34:13
Speaker 4: One of my favorite things is watching a kid get
34:17
Speaker 4: a bike for the first time. And oftentimes you know
34:22
Speaker 4: their parents' grandparents, whoever's buying it will bring them to
34:24
Speaker 4: Walmart and they'll get their bike.
34:25
Speaker 3: And I've been able to do it with my boys.
34:27
Speaker 4: And when you walk out the store with a bike,
34:31
Speaker 4: how kind every other customer every a cell sit in
34:34
Speaker 4: that story is kind of giving high fives to that
34:37
Speaker 4: kid who's walking out with their bike. I love seeing that,
34:40
Speaker 4: just the delight on this kid's face, but how how
34:43
Speaker 4: much impacts everyone else who's in the store when they
34:46
Speaker 4: see that happening. And as I said, I've been fortunate
34:49
Speaker 4: to do it as the the dad buying it, But
34:51
Speaker 4: if I ever see a parent or whoever it may be,
34:54
Speaker 4: buying a bike for a kid, I love just seeing
34:57
Speaker 4: that that moment that that kid's going to remember and
34:59
Speaker 4: that we get to play a part in that as
35:02
Speaker 4: the retailer that sold them.
35:05
Speaker 1: So recently, that's cool, very cool, and I love I
35:08
Speaker 1: love the massage I'm using right now by the way
35:10
Speaker 1: from Walmart.
35:11
Speaker 3: It's very good.
35:12
Speaker 1: So so recently Walmart said we're not gonna fire our
35:18
Speaker 1: associates because of AI. We're gonna teach them AI, which
35:23
Speaker 1: I think is really quite brilliant of a move to
35:26
Speaker 1: mate and it's counterintuitive to a lot of what a
35:29
Speaker 1: lot of other folks are doing. You can you keep
35:31
Speaker 1: reinventing yourself, reimagining in a time where affordability is really
35:35
Speaker 1: a real problem, where gas fuel prices are up, essentials
35:41
Speaker 1: are up, cost of living is up, in jobs seem
35:44
Speaker 1: down or at conflict. People don't know that you can
35:49
Speaker 1: have a career at Walmart. Can you tell talk very
35:51
Speaker 1: quickly about I was shocked to hear this, but I
35:53
Speaker 1: went to one of your meetings. The managers, the store managers.
35:58
Speaker 1: The store managers are doing incredibly well. So somebody get well.
36:02
Speaker 1: I don't want to tell the audience how much a
36:05
Speaker 1: store manager can make.
36:07
Speaker 2: Please.
36:08
Speaker 4: Yeah, some store managers will be be north of three
36:12
Speaker 4: hundred thousand dollars. What so we are seventy five percent
36:19
Speaker 4: of our management started as alleys, and I'm one of those.
36:23
Speaker 4: I started on I was sixteen and was on an
36:25
Speaker 4: hourly wage and fell in love with a company and
36:28
Speaker 4: just grew at the higher end. You can go even
36:31
Speaker 4: north of that. We've got some a touch in five
36:34
Speaker 4: hundred thousand dollars.
36:35
Speaker 1: But I met somebody making five hundred thousand dollars who
36:38
Speaker 1: I was a stun a store manager.
36:40
Speaker 4: Yeah, and we we don't mind what your background is.
36:44
Speaker 4: We don't mind what your level of education is. We
36:47
Speaker 4: don't mind where you're from, how you grew up, whatever
36:50
Speaker 4: start you had in life. As long as you can
36:53
Speaker 4: work hard you're curious to learn. If you're going to
36:57
Speaker 4: lead people, we want you to be kind and lead
36:58
Speaker 4: people properly. And you're willing to change and adapt and evolve,
37:03
Speaker 4: there's a role for you in a place for you here.
37:06
Speaker 4: I get a ton of energy from seeing people progress
37:08
Speaker 4: and grow in the company I've been fortunate to do it.
37:11
Speaker 4: I think it's important that all of us, as leaders
37:13
Speaker 4: and management, help others get on. I I did go
37:20
Speaker 4: to law school. I well two things on our let's
37:23
Speaker 4: go quick back to financial literacy. When I started with
37:27
Speaker 4: a company, I remember in my onboarding it was an
37:30
Speaker 4: associate called Sue was doing the onboarding and she encouraged
37:35
Speaker 4: me to sign up for our associate share ownership program.
37:38
Speaker 3: So set the scene.
37:39
Speaker 4: I'm sixteen, I'm doing fifteen hours a week and I
37:42
Speaker 4: earned two pounds eighty four an hour, so I wasn't
37:44
Speaker 4: earning big bucks.
37:46
Speaker 2: This is you boat this in the UK.
37:48
Speaker 4: But she encouraged to sign up for this and the
37:50
Speaker 4: minimum I could save was five pounds a week, so
37:53
Speaker 4: twenty bucks a month. So I did because this lady
37:57
Speaker 4: was so passionate about it and encouraged me to do it.
38:01
Speaker 4: Fast forward two years Walmart's just acquired Asda. I'm going
38:04
Speaker 4: off to university, and all that saving that I've been
38:07
Speaker 4: able to invest into the Walmart stock meant I could
38:10
Speaker 4: go to university with a pot of money to pay
38:13
Speaker 4: my tuition, and no it was twelve five hundred pounds.
38:19
Speaker 4: So just because that lady encouraged me to do it,
38:22
Speaker 4: I have this sum of money that then I'm able
38:25
Speaker 4: to use to avoid going into debt. Now, I worked
38:28
Speaker 4: all the way through college as well, so that didn't
38:29
Speaker 4: pay the whole way, but it helped me massively just
38:32
Speaker 4: because of her encouraging me to do it.
38:34
Speaker 3: So that's one way back.
38:35
Speaker 2: Then.
38:36
Speaker 4: Then fast forward and I'm about to graduate and I'm
38:41
Speaker 4: sat in the breakroom in the store and my store
38:43
Speaker 4: manager sat down with me and several of my friends,
38:46
Speaker 4: and she asked us all what we're going to do.
38:48
Speaker 4: And her name was Hella Milford, and I said, I
38:50
Speaker 4: don't know what I'm going to do, but I know
38:51
Speaker 4: it won't be law I knew after I'd studied it,
38:55
Speaker 4: I didn't want to go and be a lawyer and
38:56
Speaker 4: build people and that be what my life was. And
39:00
Speaker 4: she encouraged me to pursue staying at Walmart and develop
39:05
Speaker 4: and take on more responsibility. And she helped me, you know,
39:09
Speaker 4: go through and then get an interview to go on
39:11
Speaker 4: a management training program and that was two thousand and three,
39:16
Speaker 4: and from there I went on to become a store
39:18
Speaker 4: manager myself. I did that in several stores and a
39:21
Speaker 4: district manager, and then into e commerce, then moved over
39:24
Speaker 4: to the States. And I was very fortunate to have
39:27
Speaker 4: had her guidance and the fact she took that minute
39:31
Speaker 4: and it was probably five minutes total to do that.
39:34
Speaker 4: So with that in mind, as I stand in front
39:36
Speaker 4: of our store managers and talk about the role they
39:39
Speaker 4: play and the impact they can have, I guarantee if
39:44
Speaker 4: I asked any group of leaders in our business, they
39:47
Speaker 4: would all be able to say someone's name who invested
39:50
Speaker 4: a little bit of time or encouragement or a bit
39:53
Speaker 4: of guidance. And they may not have been getting that
39:55
Speaker 4: at home, and it just happened that someone at work
39:57
Speaker 4: gave them a nudge or a bit of direction, but
40:00
Speaker 4: it helped them get on a path that they've been
40:02
Speaker 4: able to continue and grow and work hard and achieve.
40:05
Speaker 4: But it's really important for all of us to help others,
40:07
Speaker 4: and that's a big part of what makes warm out
40:10
Speaker 4: special is the opportunities that are open to people, and that, yes,
40:15
Speaker 4: for a retailer, yes, we sell basics and things that
40:18
Speaker 4: people need and things that people love, and.
40:21
Speaker 3: It's a very.
40:23
Speaker 4: Functional thing that we may do. But there is opportunity
40:26
Speaker 4: within that, and we're an enormous employer and we don't mind.
40:31
Speaker 4: We don't mind what your background. As I said, we
40:34
Speaker 4: just want people who can work hard, are curious to learn,
40:39
Speaker 4: and they're adaptable, and that they'll treat people kindly and
40:42
Speaker 4: and be good leaders of people and make sure that
40:45
Speaker 4: as we keep growing and keep scaling, that that's who
40:48
Speaker 4: we've got as part of our team and part of
40:51
Speaker 4: our culture. The AI bit John for me on AI
40:55
Speaker 4: and automation anything like that. Our primary function is like,
40:59
Speaker 4: how do we can growing? And if I can use
41:02
Speaker 4: AI to find more ways to grow or to enable
41:06
Speaker 4: more capacity within our business, that's a good thing. Then
41:10
Speaker 4: go and look for how can I use it to
41:12
Speaker 4: help improve our associates work experience or our customer's shopping
41:16
Speaker 4: experience and those two are usually pretty linked.
41:20
Speaker 3: How can we do that? And then we get to
41:23
Speaker 3: where can it help us with cost?
41:25
Speaker 4: But we decided quite early on as we started to
41:28
Speaker 4: hear all the projections and some of the concerns that
41:31
Speaker 4: are out there around it. As long as we're serving people,
41:35
Speaker 4: we want to have people serving people, and that's something
41:39
Speaker 4: that guides us. It's what makes us special, we believe,
41:42
Speaker 4: and those of us that have been here a long time,
41:45
Speaker 4: those that have been here for a few years, you know,
41:49
Speaker 4: we've got a really clear purpose to help people save
41:51
Speaker 4: money and live better, with really clear values of how
41:54
Speaker 4: we will act and how we will operate and how
41:56
Speaker 4: we will lead our respect and integrity and serve this
42:00
Speaker 4: and doing that with excellence. So we sit through all
42:03
Speaker 4: of that and there's such a strong foundation for us
42:07
Speaker 4: and guiding principles for how to operate and whether it's
42:11
Speaker 4: a I or anything else, and we apply our values
42:15
Speaker 4: our purpose to them, and that's what guides I.
42:18
Speaker 1: Remind people who obsessed with technology, and I'm a technologist,
42:23
Speaker 1: I'm a technological geek. I love technology, but I remind
42:27
Speaker 1: people who think that it can replace humans. I remind
42:30
Speaker 1: people that even the most sophisticated dating app, the whole
42:34
Speaker 1: purpose of that is so that you actually meet somebody
42:37
Speaker 1: in person. So you're trying to get to the personal interaction.
42:41
Speaker 1: And so technology can be catalytic, it can be very
42:44
Speaker 1: it saves time, saves money, But at the end of
42:47
Speaker 1: the day, you're trying to get to that that the
42:50
Speaker 1: differentiator is going to be in large part that customer interaction,
42:54
Speaker 1: that personal interaction.
42:55
Speaker 4: As they agree, so I think, I actually think as
42:59
Speaker 4: technologlogy plays a bigger role and plays more of a
43:03
Speaker 4: role in our lives, people crave the human interaction even
43:07
Speaker 4: more and it might only be a smile or a
43:10
Speaker 4: kind word, or a kind gesture, or just to chat
43:14
Speaker 4: with someone. But that's why we're so bullish on our
43:17
Speaker 4: stores and our physical footprint. It enables us to do
43:22
Speaker 4: an e comm and do it really fast. So it's
43:24
Speaker 4: a really strong network that we have. But it's also
43:27
Speaker 4: about the human connection and our people. We have a phrase,
43:31
Speaker 4: our people make the difference. It's on everybody's name badge.
43:33
Speaker 4: We absolutely believe that our people make the difference.
43:38
Speaker 2: As we turn the corner. Here around the corner.
43:41
Speaker 1: To wrap up this interview, let's focus now we're quickly
43:44
Speaker 1: on financial literacy. You and I both believe it is
43:47
Speaker 1: the civil rights issue. I don't put it worth with
43:50
Speaker 1: your mouth. I believe it is the civil rights issue
43:52
Speaker 1: of this generation. You believe it's critically important inside outside
43:56
Speaker 1: the store. I was with some of your leaders at
43:59
Speaker 1: one of your store your store manager meetings where people
44:01
Speaker 1: got to recognize and it was a black lady who
44:04
Speaker 1: came up. Her husband was there with her, and she
44:07
Speaker 1: had she had a high school education, She came up
44:10
Speaker 1: through Walmart. She was incredibly smart, and she was making
44:13
Speaker 1: five hundred thousand dollars a year. And that's when you said,
44:16
Speaker 1: some people make five one thousand a year, she's one
44:18
Speaker 1: of them. I was blown away. I mean, it puts
44:21
Speaker 1: her in the top tier of all earners in wealth
44:24
Speaker 1: creators in America. Now, it's not just what you make,
44:27
Speaker 1: is what you keep. So whether you're making five one
44:30
Speaker 1: thousand dollars a year or fifty thousand or twenty five thousand,
44:34
Speaker 1: my guest says, you think that this financial literacy piece
44:37
Speaker 1: is really important to keeping your associates happy and comfortable
44:42
Speaker 1: and calms that can focus on the customer experience, help
44:45
Speaker 1: me understand, help the audience understand why you have decided
44:49
Speaker 1: to make to be the internal advocate and on Operation
44:52
Speaker 1: Hope is honored to be a partner with Walmart in
44:55
Speaker 1: this activity and people will hear more about that in
44:58
Speaker 1: weeks and months to come, what we're going to be
45:00
Speaker 1: doing together in the addition of financial literacy for all coalition.
45:03
Speaker 1: Why is this important to you personally in organizationally.
45:08
Speaker 3: No, it's really simple.
45:10
Speaker 4: I've been a beneficiary of it, and I think it's
45:14
Speaker 4: important when you've done that to help others. And the
45:16
Speaker 4: role I've got, the role that we've got as Walmart,
45:18
Speaker 4: we're able to have an outsized impact. And when we're
45:22
Speaker 4: able to do that, we should and on this, you know,
45:24
Speaker 4: it affects everybody.
45:27
Speaker 3: I look at where someone.
45:29
Speaker 4: May have had a lifestyle change, they get a new job,
45:31
Speaker 4: or they you know, get married or have kids, or
45:34
Speaker 4: they buy a home, or when something you know, something
45:36
Speaker 4: bad happens and that they're in an accident and they
45:39
Speaker 4: have a crisis that they've got to work through, or
45:42
Speaker 4: they get a healthcare diagnosis that that changes things. Those
45:47
Speaker 4: are moments that everyone will go through. I'm good, bad
45:51
Speaker 4: and everything in between. We'll all go through those moments.
45:54
Speaker 4: And if your financial health is in a tough but
46:00
Speaker 4: it will make all those things worse. If your financial
46:04
Speaker 4: health is in a stronger sport or and a healthier spot.
46:07
Speaker 4: It may not make those things go away, it may
46:09
Speaker 4: not make them easy, but it could make them easier.
46:12
Speaker 4: And you know, we employ a million four people and
46:16
Speaker 4: we serve tens of millions every week, so we have
46:20
Speaker 4: a really we have an opportunity there to help people,
46:24
Speaker 4: and our purpose is to help people save money so
46:26
Speaker 4: they can live better. And immediately go to price on
46:30
Speaker 4: that well, yet lower prices, I get more money, I
46:32
Speaker 4: can do more with it.
46:33
Speaker 3: And we're really.
46:33
Speaker 4: Proud to have low prices and take our responsibility there
46:37
Speaker 4: very seriously. But that saved money, live better goes beyond
46:41
Speaker 4: that as well. And then as I think about within
46:43
Speaker 4: our associates and that example you gave of the lady
46:48
Speaker 4: that spoke about her career, and when I sit down
46:51
Speaker 4: with associates and ask them to tell me, you know,
46:53
Speaker 4: particularly if I've got some who's been here for twenty
46:56
Speaker 4: thirty years, like why do you stay? And it's not
46:59
Speaker 4: uncommon front as to say, well, I was able to
47:01
Speaker 4: put all three of my kids through school whilst working
47:04
Speaker 4: at Walmart, and Walmart was flexible with shifts when I
47:07
Speaker 4: was having my kids, so I was able to balance
47:10
Speaker 4: work and life at the same time, or Walmart gave
47:13
Speaker 4: me a chance when no one else would. Whatever I'd done,
47:16
Speaker 4: whatever had happened, whatever had gone on, no one else
47:19
Speaker 4: wanted to know me. But they gave me a shot.
47:21
Speaker 4: And all they cared about was can you work harder?
47:23
Speaker 3: You kind? And they gave me a shot.
47:26
Speaker 4: And so I think, because that's so inherent in a
47:29
Speaker 4: lot of our leaders and a lot of people that's
47:31
Speaker 4: a store manager and whoever else who's grown up in
47:33
Speaker 4: the business, When I then encourage our teams to do
47:36
Speaker 4: more of that, it's not a hard leap for people
47:38
Speaker 4: to make say, yeah, I believe in that, Yeah, I've
47:41
Speaker 4: been fortunate.
47:41
Speaker 3: I want to help others.
47:43
Speaker 4: And then when we break it down to two who
47:45
Speaker 4: helped me sign up for share safe or Helen who
47:50
Speaker 4: encouraged me to pursue a career when I might not
47:52
Speaker 4: otherwise have thought I could, it's not a big ask
47:56
Speaker 4: that we make people to do this. It might be
47:58
Speaker 4: one conversation or one comment or a couple of interactions
48:01
Speaker 4: that can change the course of someone's life, or can
48:04
Speaker 4: just you know, help them with their financial situation, particularly.
48:10
Speaker 3: As they if they're going to grow. You know, we
48:11
Speaker 3: don't mind.
48:12
Speaker 4: If someone's with us for a couple of years and
48:14
Speaker 4: then goes on to do something else, or if they
48:16
Speaker 4: want to stay with us and have a career like
48:18
Speaker 4: I've done for thirty odd years.
48:20
Speaker 3: We're good either way.
48:21
Speaker 4: But I'd hope that anyone's interaction with Walmart, they'll leave
48:24
Speaker 4: better for it. And what we've also found there's a
48:30
Speaker 4: role we can play because when someone comes into the workplace,
48:35
Speaker 4: we're going to teach them how to do the job,
48:38
Speaker 4: and we build out a network of what we call academies.
48:42
Speaker 4: They've been going for ten years now in the United States.
48:45
Speaker 4: We've had over three point five million people go through
48:48
Speaker 4: an academy and get skills, and that might be specific
48:52
Speaker 4: skills for a job, it might be broader skills, whatever
48:56
Speaker 4: it may be. And that then led to what we
48:59
Speaker 4: call LBU Better University, where someone's able to get a
49:03
Speaker 4: college degree whilst they're working at Walmart. And and initially
49:08
Speaker 4: it was for a dollar a day, and then after
49:10
Speaker 4: a year we stopped that and now it's just part
49:12
Speaker 4: of their benefits that they're able to get a degree
49:14
Speaker 4: with us. And I love when I hear it, and
49:17
Speaker 4: because we've been doing that a while now, you're seeing
49:19
Speaker 4: people graduate, and we love when someone graduates, and we
49:22
Speaker 4: make a great deal of that. No, we partner with
49:27
Speaker 4: with other universities throughout the country, so they are credited.
49:30
Speaker 4: They'll do their course with that university. So it's a
49:33
Speaker 4: it's degree from the institution, but but we we fund
49:37
Speaker 4: it and oftentimes will will help figure out courses that
49:41
Speaker 4: might be suitable to then take on a bigger role
49:44
Speaker 4: or a different, you know, structured job within Walmart. The
49:48
Speaker 4: last bit I'll say on that that you know and
49:51
Speaker 4: we talk about the store management and the leadership opportunity
49:55
Speaker 4: to grow and take on more responsibility.
49:57
Speaker 3: I'm also conscious not everybody wants to lead a lot
49:59
Speaker 3: of people. I didn't think I did.
50:03
Speaker 4: Then I did it and I realized I loved it,
50:04
Speaker 4: but I wouldn't have seen I wanted to do it initially.
50:07
Speaker 4: And we also have a couple of programs that we've
50:09
Speaker 4: been really excited to see them working. Associate to Driver
50:13
Speaker 4: and then Associate to Tech.
50:15
Speaker 3: And this is where if.
50:16
Speaker 4: You want to, you can apply and go on a
50:20
Speaker 4: training program to become a fleet driver where you drive
50:25
Speaker 4: a semi truck for Walmart, and we put you through
50:28
Speaker 4: all the training and the qualification and come out of
50:31
Speaker 4: the side and then you can become a fleet driver.
50:34
Speaker 4: That's a role that pays, you know, between one hundred
50:37
Speaker 4: and one hundred and thirty five.
50:38
Speaker 3: Thousand dollars a year.
50:39
Speaker 2: Wow.
50:40
Speaker 4: So it's a well paid job that it's hard work.
50:42
Speaker 4: You're on the road like, let's not be it's not easy, yeah,
50:46
Speaker 4: and you've got to be safe and you've got to
50:48
Speaker 4: drive and you know, there's a lot of people on
50:49
Speaker 4: the road that aren't safe and you're there in a
50:51
Speaker 4: Walmart truck. So we have very high standards and high expectations.
50:55
Speaker 4: But our associates were able to apply for that, and
50:59
Speaker 4: we've had several one hundred associates graduate and become fleet drivers,
51:02
Speaker 4: which I love seeing that.
51:04
Speaker 3: And then Associate to Tech.
51:05
Speaker 4: So we have roughly ten thousand facilities maintenance technicians and
51:10
Speaker 4: they would maintain the fridgers, the electrical, the plumbing in
51:13
Speaker 4: our stores and in our supply chain buildings. We're able
51:17
Speaker 4: to give some a role as a tech and then
51:20
Speaker 4: train them and send them off to trade school to
51:23
Speaker 4: get the qualifications they need to be equipped to maintain
51:26
Speaker 4: our equipment and our assets. And our Associate to Tech
51:30
Speaker 4: program is another one where someone who's worked for us
51:33
Speaker 4: is able to apply and then they're able to earn
51:36
Speaker 4: more money in a higher hourly rate, and they don't
51:38
Speaker 4: have to take on load of management responsibilities if they
51:40
Speaker 4: don't want.
51:41
Speaker 3: But it's another pathway.
51:42
Speaker 4: And I think that's the bottom line, would be the
51:46
Speaker 4: pathways and the opportunities that are open to people here.
51:50
Speaker 4: I think that's one that people don't often realize or
51:53
Speaker 4: that they underestimate. Yes, we're a retailer, but we're an
51:57
Speaker 4: enormous employer, and there are tons of opportunities and different
52:01
Speaker 4: directions people can take, and a real breadth of skills
52:05
Speaker 4: and careers within a retail.
52:09
Speaker 1: I mean, you're really a country. You're really the size
52:11
Speaker 1: of a small country in the body of a company,
52:15
Speaker 1: and you have all of the mechanisms that a country
52:18
Speaker 1: or a one of the biggest companies in the world
52:21
Speaker 1: would have, and you need support for all that. And
52:24
Speaker 1: that support is opportunity for people who might be watching
52:28
Speaker 1: this podcast who can start at the bottom like you
52:32
Speaker 1: and go to the top. I know we started a
52:35
Speaker 1: little late, we have some technical issues as we may
52:38
Speaker 1: be running out of time. This has been such an
52:39
Speaker 1: important conversation. Do you have time for one more question.
52:42
Speaker 1: It's okay if you don't, Yeah, go for it. Okay,
52:44
Speaker 1: I'm going to combine three questions in the one because
52:47
Speaker 1: we have a shorter on time and I can hell
52:49
Speaker 1: what's going on here, And he's telling his people, look,
52:51
Speaker 1: just hold off, I'll be done in a minute. He's
52:54
Speaker 1: so gracious about it. Thank your support team for giving
52:56
Speaker 1: me a bit more time. This is so important. I
52:59
Speaker 1: was talking to when Doug Millan was CEO. There was
53:03
Speaker 1: some brew haha in the country about this and that
53:05
Speaker 1: and social issues and naming title and Doug called me.
53:09
Speaker 1: I didn't call him. He called me and he said, look, John,
53:12
Speaker 1: just to be clear, we're simple. We're going to keep
53:16
Speaker 1: all our promises and it ain't not be on billboards
53:19
Speaker 1: and all that stuff. Just so you know the data
53:21
Speaker 1: is going to be Just check the data, check the numbers,
53:23
Speaker 1: and know that we're surveycing and contracting and hiring and
53:28
Speaker 1: doing all these things and hitting our marks. Keep us
53:30
Speaker 1: honest by checking the numbers every quarter. And I have
53:34
Speaker 1: and you guys have kept those promises. And I encourage
53:36
Speaker 1: anybody else to look at you Visa VI your peers
53:40
Speaker 1: so you can comment or not, but I want to
53:42
Speaker 1: get that out there because somebody's going to be asking
53:43
Speaker 1: and I want to just answer it straight up that
53:46
Speaker 1: actually had that conversation. My guess is John Frenie would
53:49
Speaker 1: feel the same way. Here's the combined question. Walmart serves urban, suburban,
53:54
Speaker 1: and rural communities across the country, basically everybody. How do
53:58
Speaker 1: you think about the company's relationshi to communities that rely
54:01
Speaker 1: on Walmart as an economic anchor? What do you believe
54:05
Speaker 1: people misunderstood or understand most about the modern retail workforce
54:09
Speaker 1: and the opportunities that can come from it. Basically, we
54:11
Speaker 1: just covered that, by the way, but you can accentuate
54:13
Speaker 1: if you want, and looking ahead, what the success like
54:17
Speaker 1: for Walmart in America over the next five to ten years,
54:20
Speaker 1: not just as a business, but as a force in
54:23
Speaker 1: people's lives in a community you operate in. Now, you
54:26
Speaker 1: essentially partially answer two of those questions, But to me,
54:31
Speaker 1: I want to end with a vision from your perspective,
54:35
Speaker 1: how can Walmart or is Walmart being a force for
54:38
Speaker 1: good in the next five or ten years from your perspective.
54:42
Speaker 4: Yeah, I think Look, I think of it as a journey,
54:49
Speaker 4: and you know, we want to be relevant to our customers.
54:53
Speaker 4: We want to serve the communities soon we serve and
54:56
Speaker 4: in the communities where we exist. But it's a journey
55:00
Speaker 4: towards that, and we'll keep evolving and changing in line
55:04
Speaker 4: with what our customers tell us they want.
55:07
Speaker 3: You've seen us do that through history.
55:10
Speaker 4: Our formats have evolved, the services we offer have evolved
55:15
Speaker 4: to make sure we're serving our customers. We want to
55:17
Speaker 4: be consistent and true to who we are, our culture,
55:21
Speaker 4: our values, our beliefs. So I think that stays the same.
55:26
Speaker 4: But outside of that, we're pretty open and willing to
55:29
Speaker 4: change and evolve. And for me, the important bit is
55:33
Speaker 4: that we take our people with us on that journey,
55:36
Speaker 4: and roles may evolve and jobs may evolve, and will
55:39
Speaker 4: give our people the skills to keep adapting and take
55:42
Speaker 4: on new responsibilities. So we see, you know, we have
55:47
Speaker 4: a really important role in every community that we serve
55:51
Speaker 4: as a place that people shop and get what they need,
55:54
Speaker 4: a place that helps them stretch their dollars if they
55:56
Speaker 4: need that, a place that gives you know, employment and
56:01
Speaker 4: careers and pathways to people. That that's a really important
56:06
Speaker 4: part of who we are and what we do. And
56:08
Speaker 4: then we want to play an active role in the
56:09
Speaker 4: communities that we serve through the schools and churches and
56:12
Speaker 4: different groups that are there to make sure we're part
56:14
Speaker 4: of that community.
56:17
Speaker 3: I think what are people misunderstand? I think I think
56:22
Speaker 3: it's probably that opportunity bit, just.
56:24
Speaker 4: The breadth and the scale of opportunity, on the scale
56:28
Speaker 4: of opportunities and the breadth of that. You may work
56:33
Speaker 4: in cyber security inside Walmart, you may work as an
56:38
Speaker 4: economist inside Walmart, and you may work as a truck driver.
56:42
Speaker 4: You may work as I did, making pizzas behind a
56:44
Speaker 4: deli counter. There's an enormous breadth of roles and there's
56:49
Speaker 4: an encouragement to switch lanes and try new things. And
56:53
Speaker 4: if you're curious and willing to learn and go through
56:57
Speaker 4: the journey of trying something new and going out of
57:01
Speaker 4: your comfort zone, there's tons of opportunities for people.
57:06
Speaker 3: And and I love that.
57:07
Speaker 4: That is true no matter who you are, where you
57:09
Speaker 4: come from, what your what your background is. I really
57:14
Speaker 4: love that aspect of Walmart, that it's more about what
57:16
Speaker 4: you do and how you do it. And then as
57:20
Speaker 4: I look ahead, I think we're excited to keep evolving
57:24
Speaker 4: with AI and automation, all these new capabilities that are
57:28
Speaker 4: out there. We don't want to be late, so we
57:30
Speaker 4: try and lots of things. We're really partnering with people
57:34
Speaker 4: to help us try lots of things and put them
57:36
Speaker 4: in front of customers and see what works. As I said,
57:39
Speaker 4: wherever we're able to find more capacity to keep growing,
57:43
Speaker 4: improve the experience our associates have whilst they're at work
57:46
Speaker 4: and the experience our customers have. We're really open and
57:49
Speaker 4: encouraged by some of what we've been able to do
57:51
Speaker 4: and excite about what's ahead. But we're also grounded in,
57:56
Speaker 4: you know, we serve people, and we want to make
57:59
Speaker 4: sure people can get what they need, that they get
58:01
Speaker 4: every day low price, and that they can trust us
58:04
Speaker 4: on the price they're paying, and that we play a
58:06
Speaker 4: convenient part in their lives. And what what what's great
58:10
Speaker 4: is as someone's life changes, as they go from being
58:13
Speaker 4: you know, single to maybe you know, starting a family,
58:16
Speaker 4: to going through life, that we're able to play a
58:19
Speaker 4: role with them no matter what it is they're going through.
58:22
Speaker 4: And that's true for our team, it's true for our customers,
58:25
Speaker 4: and we're very honored that we get to do that.
58:28
Speaker 4: We take our responsibility seriously, but very positive and excited
58:33
Speaker 4: about what the future holds.
58:36
Speaker 1: I don't want your stay off upset with me, So
58:37
Speaker 1: I'm going to end this podcast here because we could
58:40
Speaker 1: talk forever.
58:41
Speaker 2: As you said, you.
58:42
Speaker 4: Imply there's the staff that there's no staff. Someone's going
58:45
Speaker 4: to come and say you're late for your next meeting.
58:47
Speaker 3: That's it.
58:47
Speaker 4: But you're good, John Opah. It's a pleasure spending time
58:51
Speaker 4: with you and your listeners. I appreciate all the support
58:56
Speaker 4: and and it is genuinely support that that you give
58:59
Speaker 4: to Walmart into all of us as leaders within Walmart.
59:03
Speaker 4: And you know we are working together using Operation Hope
59:07
Speaker 4: to give more financial tools to our associates, and we're
59:11
Speaker 4: excited about the associates that are making use of that
59:14
Speaker 4: and what they're benefiting from with that. So appreciate the partnership,
59:17
Speaker 4: Appreciate the support and love spending time with yourself.
59:21
Speaker 1: Thank you, you're You've got a new friend with me
59:23
Speaker 1: here now now before I want to drop the mic
59:25
Speaker 1: with this the guy with the pail name tag and
59:30
Speaker 1: the vest and the humble spirit, drop the mic as
59:33
Speaker 1: you walk off the stage. What size is your balance
59:37
Speaker 1: sheet and assets? Asset base? And customer based employee base
59:42
Speaker 1: underneath you tell the audience as you walk off the
59:45
Speaker 1: off the stage in whatever dimensions you like.
59:49
Speaker 4: Look, I'm really fortunate we have four thousand and six
59:54
Speaker 4: hundred stores. We have just over one point four million associates,
59:59
Speaker 4: and I get to be of that team.
1:00:02
Speaker 3: And then yeah, look we we serve a lot of people.
1:00:05
Speaker 4: And you can look at the numbers, and for sure
1:00:07
Speaker 4: the numbers matter. They how you make sure you know
1:00:09
Speaker 4: how you're doing. But we also try and do this
1:00:12
Speaker 4: one person, one customer, want to sell one transaction, one
1:00:16
Speaker 4: item at a time, because if you if you stay
1:00:19
Speaker 4: out here too much, you miss the detail. And a
1:00:22
Speaker 4: lot of what we spend time is diaveraging because average
1:00:25
Speaker 4: has had a lot on a big base. So you've
1:00:27
Speaker 4: got to the average and get into the detail to
1:00:29
Speaker 4: understand where is it's really working well. That we can
1:00:31
Speaker 4: learn from wherever we got some challenges and we can
1:00:34
Speaker 4: go help and figure out how to improve. So, yeah,
1:00:37
Speaker 4: that the scale is important, and we don't take that
1:00:42
Speaker 4: for granted. But the way we win is one at
1:00:46
Speaker 4: a time, and we've learned that over the years and
1:00:49
Speaker 4: and and we we keep ourselves grounded with that as well.
1:00:53
Speaker 1: So every every question was beautiful and direct, except this one,
1:00:56
Speaker 1: a leaders only one here. My brother did not answer
1:00:59
Speaker 1: how how how much he's a big baller, shot caller
1:01:03
Speaker 1: and leader within Walmart. He was very humbled about that
1:01:06
Speaker 1: and completely side stepped it. But the audience can figure
1:01:09
Speaker 1: out for themselves. It's a lot Kierton, Thank you, brother,
1:01:12
Speaker 1: thank you for being with us. Please give everybody there
1:01:14
Speaker 1: my best and we'll see you in the finish line.
1:01:16
Speaker 3: I'll come out will thank you, Be safe, Take care.
1:01:19
Speaker 2: God bless you.
1:01:21
Speaker 1: Money and Wealth with John O'Brien is a production of
1:01:24
Speaker 1: the Black Effect Podcast Network. For more podcasts from the
1:01:27
Speaker 1: Black Effect Podcast Network, visit the iHeartRadio app, Apple Podcasts,
1:01:32
Speaker 1: or wherever you listen to your favorite shows.