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Byline: Marilyn Much
Investor's Business Daily
A few years after Sam Walton opened his first Wal Mart Discount City, Herb Kelleher began sketching a plan for an airline based on the same concepts: low prices and good service.
Though the two didn't become friends until later, they were kindred spirits. Both came up with huge winners by improving existing models.
The late Walton copied the layout and pricing at Kmart. Kelleher's Southwest Airlines was built on the m
odel of short-haul carrier Pacific Southwest Airlines.
Many great businesses followed similar paths: They were innovators, not inventors. They took existing models and changed them to meet new needs, serve new markets and please customers.