00:00:02another edition of Molly no monsters
00:00:04today we’re going to look at how a young
00:00:06entrepreneur who had it difficult to
00:00:07keep it up in class and didn’t believe
00:00:09in himself changed his life around and
00:00:12became one of the wealthiest man in
00:00:13North America this is a story of truett
00:00:16Cathy from chick-fil-a and the top three
00:00:18lessons that you can learn from his
00:00:19success Samuel truett Cathy is a founder
00:00:24of chick-fil-a a quick service
00:00:25restaurant chain based in suburban
00:00:27Atlanta Georgia when his parents
00:00:28couldn’t pay their bills from his
00:00:30father’s job they began renting out
00:00:31rooms in their house providing a bed and
00:00:33two meals to a guest for a dollar a day
00:00:35at any given time there be as many as
00:00:37eight guests in the Cathy house that on
00:00:39top of Cathy’s two brothers four sisters
00:00:41and parents according to cathy grown up
00:00:44in a boardinghouse introduced me to hard
00:00:46work and taught me the value of diligent
00:00:48labor by the time he was eight years old
00:00:50kathy was already an entrepreneur
00:00:52chipiya nori could help support his
00:00:54family he began buying six packs of
00:00:57coca-cola for 25 cents and selling
00:00:59individual bottles door-to-door of five
00:01:01cents each in high school he right
00:01:03thinkin Grow Rich by Napoleon Hill which
00:01:05had a profound impact on his life I
00:01:08wasn’t all that bright I had difficulty
00:01:11keeping up in class and it always
00:01:12carried with me a bit of an inferiority
00:01:14complex but I enjoyed my work and I
00:01:17enjoyed the rewards of working as I read
00:01:20mr. Hills book I realized I could do
00:01:22anything I wanted if I wanted it badly
00:01:24enough his words motivated me and showed
00:01:28me that I live in a do-it-yourself world
00:01:30was just over ten thousand dollars of
00:01:33his own money and the bank’s money Cathy
00:01:35opened up his first restaurant in 1946
00:01:38today his chick-fil-a restaurant chain
00:01:40has over 1500 locations and Cathy’s net
00:01:43worth is over 1.5 billion dollars making
00:01:46him one of the richest people in North
00:01:48America
00:01:52by believing in himself and by working
00:01:54hard happy became one of the wealthiest
00:01:57men in North America to help you take
00:01:59your business to new riches here are
00:02:01three action items that you can learn
00:02:03from chillicothe action Adam number one
00:02:05lead from the front your business will
00:02:08only be as strong as the people you have
00:02:10helping you if you want them to perform
00:02:12and be motivated than you need to be a
00:02:14source of inspiration and lead them
00:02:16after a particularly rough year in 1974
00:02:19when inflation rates rose unexpectedly
00:02:22chick-fil-a was hit hard in the
00:02:23pocketbook they had to spend more money
00:02:25on advertising to track people into the
00:02:27restaurants not wanting his operators to
00:02:30lose their shirts Cathy decided he would
00:02:32cover the unexpected increase in costs
00:02:34he took the hit so they wouldn’t have to
00:02:37according to kathy i didn’t take a
00:02:39salary that year because i didn’t want
00:02:42our employees to take pay cuts I
00:02:43struggled with this but I was determined
00:02:46not to lose sleep over it too many CEOs
00:02:49are leaving sinking ships they should be
00:02:51the last ones to leave the company if
00:02:54some people are losing money everybody
00:02:55should lose money not just the
00:02:57stockholders action item number to build
00:03:03a culture if you’re really clear about
00:03:06the type of company that you want to
00:03:07build and the type of people that you
00:03:09want to hire then it will be much easier
00:03:11to attract people to you who believe in
00:03:13your vision there’s no right or wrong
00:03:15culture but it’s important that you
00:03:17build one that people can rally behind
00:03:19if you really want to accelerate your
00:03:21business growth Cathy doesn’t believe
00:03:23that businesses should be open seven
00:03:25days per week he built a culture around
00:03:27working hard for six days and then
00:03:29having one day off to spend with your
00:03:31family and for your spiritual well-being
00:03:32as a result he attracts people who
00:03:35believe in that culture and strengthen
00:03:37it according to cathy why do we closed
00:03:40on Sunday well it started back in
00:03:42nineteen forty six when I opened my
00:03:44first restaurant after the first week I
00:03:47determined that if it took seven days a
00:03:49week to make a living I should be in
00:03:51some other business we find closing on
00:03:54Sunday attracts those people who give
00:03:56attention to spiritual growth and our
00:03:58family oriented the fact that we have
00:04:00sunday closing helps attract quality
00:04:02employees
00:04:07action Adam number three keep your
00:04:09priorities in order as entrepreneurs we
00:04:12often don’t do a great job of managing
00:04:14our lives we work too hard eat bad food
00:04:16don’t look after our bodies neglect
00:04:19those around us all in the name of
00:04:21building our businesses if that’s you it
00:04:24might be time to reconsider where your
00:04:26priorities are when Kathy with 38 years
00:04:29old who is diagnosed with colon cancer
00:04:31he thought his life as he knew it was
00:04:34over it wasn’t but the experience did
00:04:37force Kathy to re-examine his principles
00:04:39according to kathy i think i’d like to
00:04:43be remembered as one who kept my
00:04:45priorities in the right order we live in
00:04:47a changing world but we need to be
00:04:49reminded that the most important things
00:04:51will not change if we keep our
00:04:53priorities in the proper order
00:04:58so remember lead from the front build a
00:05:01culture and keep your priorities in
00:05:03order the finish of this video I wanted
00:05:06to share one of my favorite true stories
00:05:08about truett Cathy and some of his
00:05:09basketball as chick-fil-a group Cathy
00:05:13knew he needed a new tactic to attract
00:05:15more customers this was one Cathy first
00:05:17introduced advertising hiring a company
00:05:20to give chick-fil-a a public face the
00:05:22result large billboards showing cows
00:05:25that urge people to eat more chicken it
00:05:28was a humorous slogan and it worked
00:05:56thank you for joining me for another
00:05:58edition of all the Masters I hope you
00:06:01enjoyed if you like the video please
00:06:02give it a thumbs up I’d also love to
00:06:05hear your thoughts and comments if you
00:06:06want to leave it below and stay tuned
00:06:08for the next episode
00:06:29you
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