Ep. 2 - Walmart CEO Doug McMillon: Pour Out Your Cup

Ok kicking it off, our first guest on the podcast is someone special. Someone who has been named to the Forbes Most Powerful People four out of the last five years, coming in at #23 in 2018. This week I am interviewing Doug McMillon, the current CEO of the Fortune 1 company in the world, Walmart. Doug is honestly one of the most humble, gracious people out there. If you randomly met him, you would just walk away thinking, "I like that guy" not, "wow, that was the 23rd most powerful person in the world." McMillon began his first job with Walmart as a summer associate in high school unloading trucks. He got his undergrad degree at Arkansas and then his MBA at Tulsa is 1991. Soon after he joined the buyer-training program. Worked him way up to President of Sam's club where he was from 2005-2009. Then spent 4 years as President of Walmart International. Finally, in 2014, he became the fifth CEO of Walmart, Inc. where he has been since. Doug's tenure has seen some big decisions. He has done a lot to change the stigma of Walmarts brand including raise its minimum pay, fostering innovation and focusing on a more integrated e-commerce opportunity. Changing the course of a big battleship like Walmart isn't easy but if anyone has the ability to do it, it's Doug. I'm overjoyed to present to you: Doug McMillon. More stuff Thank you so much for listening, we really appreciate you. If you have found this valuable, please consider leaving us a review as it will help more people find it! Thanks you're awesome! You can find more information and content by going to these places: Website: https://www.investingcity.org YouTube: Investing City Twitter: investing_city Instagram: investing_city Or feel free to email us at [email protected] If you would like $10 off/month on a Dynasty Membership, just email us with the keyword "Podcaster Elastimer" and we'll hook you up! (it had to be a strange yet memorable keyword right?!) Again, we really appreciate that you would take the time to listen. Hope it was valuable. Let us know if you have any questions! Below you will find our entire conversation transcripted for those with hearing problems or just if you like reading more than listening. Enjoy! Episode 2: Doug McMillon Ryan Reeves 0:03 Thank you so much to Doug McMillon we're so excited to have you on the podcast. Thank you for being here, Doug. Doug McMillon 0:07 Excited to be with you, Ryan. Congratulations. Ryan Reeves 0:20 Thank you. So the first thing I want to talk about is this little story I heard that you like to kind of clear your mind in between meetings. Can you tell us a little bit about that? Doug McMillon 0:36 Yeah, sure. I've got a good friend who a few years ago gave me this tip. Because we're constantly dealing with a breadth of issues. I'm sure it's that way for most business leaders. But you know, just today, I've been spending time with our chief customer officer thinking about our customer value proposition distribution center, recorded videos for international markets said spent 30 minutes on compensation design. So you're running from one thing to the next. And his tip was before you walk into the room, imagine that you have a cup in your hand coffee cup, for example. And then you just pour it out. Imagine just dumping it so that there's nothing left in the cup. So that when you walk into the room, you basically hit reset, and you're able to listen, focus on the content that's right in front of you. Because each conversation, each topic is important. And you can't get too distracted by what you just finished, you got to be focused on what comes next. Ryan Reeves 1:44 That's awesome. I love the visual aspect of that. So I just wanted to jump to kind of a thought experiment. So...