Walmart’s CEO Shares 7 Totally Down-To-Earth Tips for Financial Success

Doug McMillon raked in nearly $27 million last year as Walmart's CEO, but he wasn’t always worth millions.

McMillon started at Walmart 40 years ago as an hourly employee in one of their warehouses. He worked his way up to senior leadership roles before taking over as CEO ten years ago.

His success makes his advice worth listening to, and he has a few key tips for others, which he delivered to his alma mater, the University of Arkansas, earlier this year.

Here are McMillon’s pieces of advice and how you can apply them to building your wealth.

Doing your job well, even if it’s not your dream one, can set you up for success later. Good performance lets others know you take pride in your work and always put forth your best effort.

It makes you appear more trustworthy and reliable professionally and can help you build a name for yourself.

Doing your best could lead to promotions and raises for years and decades, just as it did for Doug McMillion.

When you enjoy what you do, you’re bound to perform better than if you dread going to work every morning. And better performance aligns with McMillon’s first tip to do today’s job well.

But choosing a career you enjoy can also make the road to financial success feel much easier, and you’ll likely get there faster.

Once you’ve chosen a career that doesn’t feel like work, don’t forget about choosing a job you enjoy, too. Toxic bosses, too-long commutes, and being undervalued at work can all make even the best career feel like it isn’t worth it.

McMillon’s advice to assume positive intent from others isn’t a new idea, but it’s a good reminder not to always assume the worst.

The classic thought of giving people the benefit of the doubt comes to mind. Doing so can foster healthy professional relationships and connections, leading to better opportunities later.

Of course, assuming positive intent doesn’t apply in every situation. Unfortunately, some people don’t have good intentions.

For example, a coworker might try to get you fired for no good reason, or a superior might take credit for all your work. And identifying when intentions aren’t good can prevent damage to your career.

Doug McMillon advises people to help others. Following this advice can go a long way in helping other people live better lives, but you might be wondering how it can help you achieve success.

Helping others comes with that do-good feeling, which tends to make people feel better about themselves and their lives. Happiness and well-being have been linked to enhanced productivity and better working relationships.

So, while doing something to help someone else shouldn’t be about your own gains, it appears that those acts of kindness, even the small ones, could help propel your career forward.

McMillon thinks it’s best to focus on shared motivations. After all, some people have more in common with you than you might think. Dwelling on what you and others disagree about will only hurt professional relationships — and your career.

Additionally, consider surrounding yourself with people who share your intentions. Working toward a common goal is easier than working with someone who doesn’t share your vision.

Holding grudges won’t likely get you far in life or your career. McMillon’s words of wisdom, “be forgiving,” are good ones to remember.

Forgiving doesn’t mean forgetting or accepting being treated poorly. However, learning from others’ mistakes and moving forward will help you succeed faster than focusing on how others have wronged you.

Living in the moment might not seem like the best advice when thinking about financial success, but McMillon believes it is important to take the time to enjoy what is happening now, and many others would agree.

This piece of advice ties into some of his other wise words. Enjoying the now increases feelings of happiness and enhances well-being, which tends to help people be more productive and build healthier relationships.

Living in the moment can also help you do your current job well. Maybe you’d prefer a better job, but dwelling on what you don’t have yet could affect your performance now, which could slow down your journey to professional success.

Doug McMillon’s words of wisdom might not seem like the most obvious tips for getting ahead financially, but given his success story, most would agree they are worth considering.

The road to financial success feels less difficult when it aligns with personal satisfaction and increased well-being, but that doesn’t mean it won’t be hard.

While McMillon’s advice can help you reach your goals, you’ll likely need to take other steps, such as budgeting, saving, investing, and making good financial and professional decisions for years to come.