Episode 013 Truett Cathy, Are You Chicken?

 

SHOW NOTES– Episode 013 Truett Cathy, Are You Chicken?

 

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WELCOME

  • Welcome to the NaRagsToRICHES Show! Inspiring you to start writing your own rags to riches story, do work you love and make more money!
  • This is Jayson Narag, your host, broadcasting from the NaRagstoRiches Studios.
  • Thank you so much for hanging out with me! I’m glad you’re listening.
  • Today, we’re talking about someone who has built a billion dollar business in the restaurant industry around chicken, Truett Cathy of Chick-Fil-A. I like me some Chick-Fil-A. We’ll talk about that in a bit.

 

CALLS TO ACTION

  • Please sign up for the NaRagstoRiches Newsletter by filling out the form on naragstoriches.com. This newsletter will be of value to you. I will be giving my best tips to support you on your journey to be debt-free, increase your income and start your own rags to riches story.
  • Please complete a review of the NaRagstoRiches Show on iTunes or any of the podcast platforms you listen on. Your reviews will help me to know what I’m doing that you like and to continue improving as a podcaster.
  • If you’re deep in debt, you want to get out of debt and not pay thousands to a debt settlement company or to a lawyer in bankruptcy, email me at jndebtfreecoach@gmail.com to see if debt free coaching may be a good fit for you.

 

SUCCESS QUOTE

Nearly every moment of every day, we have the opportunity to give something to someone else – our time, our love, our resources. – S. Truett Cathy

Special thanks to Wesley Roach, Principal of Berean Christian Academy

 

RAGS TO RICHES STORY

The person whose rags to riches story we’re talking about today is… Truett Cathy.

  • I’m going to give my opinion about customer service. Out of all the major fast food chains I’ve been to and eaten at (and that’s been a bunch of them), Chick-fil-A’s customer service has been the BEST. I’m talking about the fastest and nicest.
  • I’m 100% American, my ethnicity is Filipino and I went to a filipino fast food place a few weeks ago with my good friend David Burns and it was definitely lacking in customer service compared to Chick-fil-A’s level of service. It wasn’t bad, but it wasn’t Chick-Fil-A level.
  • One Sunday after church, I wanted some Chick-Fil-A. I drove by and it was closed. Being from California, my reaction was, what in the world? And that’s when my friend said, “Oh yeah, they’re closed on Sundays.” I asked why and he said, “The owner’s a Christian and gives the day off to all the employees so they can go to church.” I thought that was pretty cool.

The Result

  • Truett Cathy built a business from nothing to $6.3 billion.
  • Over 1800 locations in 39 states and Washington, DC.
  • Annual sales over $5 billion.

Facts about Truett Cathy

  • Samuel Truett Cathy was born March 14, 1921 in Eatonton, GA.
  • As a young boy, he grew up selling coca cola bottles six for a quarter.
  • His parents were poor. During the depression years, they struggled to survive, so they took in boarders in their one bathroom home to earn an income. Renters were 2-3 to a room and got two meals for $1 a day.
  • He credits his hardworking nature to growing up poor.
  • “I’ve experienced poverty and plenty and there’s a lesson to be learned when you’re brought up in poverty,” he said in 2007. “I had to create some good work habits and attitude.” That tells me when you’re poor and you stay poor, you chose not to learn the lessons. He created good work habits and attitude.
  • Cathy credit’s Napoleon Hill’s book, Think and Grow Rich for much of his success.
  • Cathy served his country in the Army in World War 2.

After the War

  • After the war, Cathy could’ve easily gotten a job and taken it easy, but that’s not at all what he did.
  • He and his brother decided to get in the restaurant industry, which has always been a tough industry to be in.
  • Getting a business off the ground is tough as it is; getting a restaurant off the ground is harder.
  • Dwarf Grill along with his brother, Ben in 1946 just outside of Atlanta in a suburb called Hapeville. The name of the restaurant came from how small the building was.
  • Their idea was to build this first restaurant close to a Ford auto plant and hopefully get the employees at Ford as customers. And they were successful in doing that.

Facing adversity

  • As difficult as it is to get any business off the ground and a restaurant business, which is even more difficult, Cathy faced tragedy when he lost his business partner and brother, Ben along with another brother in a plane crash.
  • In the face of tragedy, Truett continued running the restaurant renaming it Dwarf House in the process and then franchising out the restaurant.
  • Him being able to overcome this difficult situation and others to follow in his life speaks to his tenacity as a person and as a businessman.
  • Successful business people like Cathy are those that are able to overcome problems and issues.
  • Over the course of 20 years, Dwarf House would burn down twice, but he would rebuild it each time.
  • The original restaurant is still in operation today long after the Ford auto plant was closed and demolished.

Chick-Fil-A

  • Nearly 20 years after starting and operating Dwarf Grill, Cathy opened his first Chick-Fil-A in a mall after getting frustrated at the inconsistencies in the recipe of restaurants he licensed his chicken recipe to.
  • Chick-fil-A was started in the Greenbriar Mall in southwestern Atlanta in 1967. Today, there are a bunch of stand alone stores, but many in mall locations.
  • Chick-fil-A’s purpose statement reads, “To glorify God by being a faithful steward of all that is entrusted to us and to have a positive influence on all who come into contact with Chick-fil-A.” For Truett Cathy, chicken was simply a tool to accomplish his real purpose: honoring God and helping people.

Closed on Sundays

  • Chick-Fil-A being closed on Sundays for the purpose of employees and customers and employees to have a day of rest with their families and get to go to church to worship if they choose to.
  • Executives have said for years that the chain made more in 6 days than it’s competitors made in 7. The rule is to honor the Lord’s Day. Cathy said, “Our decision to close on Sunday was our way of honoring God and of directing our attention to things that mattered more than our business.”

Generosity

  • Business success allowed him to pursue another passion of developing young people.
  • Also known for efforts to help the youth. In 1984 he created WINshape Foundation to shape winners through youth programs and scholarships. Also created a long-term program for foster children in Alabama, Georgia, Tennessee and country of Brazil.
  • Fostered children for over 30 years taking in over 200 foster children through WINshape Homes. WinShape Foundation has funded over $18 million to make foster homes and camps.
  • The foundation has award over 820 students with scholarships up to $32,000. His leadership program for employees has awarded $23 million of $1000 scholarships.

Books

  • He’s written 4 books that focus on business and inspiration. He also co-authored a book about generosity titled, Generosity Factor: Discover the Joy of Giving Your Time, Talent and Treasure.
  • His 2007 book titled, How Did You Do It, Truett outlined his plans for success which included setting priorities, being courteous, cautiously expanding a business and not being burdened with debt. A bunch of people need help in these areas especially the last one I mentioned not being burdened by debt. I read a statistic the other day that said 70% of people are in financial distress. That’s a disturbing statistic, but I believe it’s true. I’m not going to go around asking everyone if they’re struggling financially, but I’m going to tell everyone my desire for them to be debt-free and earn more money. If they approach me afterward, I have no problem offering my services. Cathy said in his book, “There’s really no secret for success.”

Things we can learn from Cathy

  • He was an entrepreneur meaning most of his life was not spent at a job, but in business.
  • He was a man of God and Sunday school teacher.
  • He was a very generous person.
  • He put religious convictions ahead of bottom line.
  • He was a risk taker. Those risks he took paid off many, many times over in the billions.
  • He developed a work ethic through the Great Depression. We have to develop a work ethic right now.
  • You get to choose what role you play in your life. You could be the person working at a job in that successful business or you could be the person that starts a successful business that hires employees. Which one do you want to be?
  • Now that he’s gone, he was able to pass on not only this ultra successful business and money to his children, grandchildren and hopefully many more generations to follow, but he passed on values he had.
  • Truett Cathy was what all Christian businessmen should strive to be in the business world.

 

RICH HABIT POOR HABIT

Based on 350 interviews of rich and poor people by Tom Corley.

Rich habit for today is: Have a Defined Purpose in Life

  • Tom Corely says, “80% of self-made millionaires pursued some major purpose in life. This was some dream or vision they were chasing. They built goals around their dreams and never quit. Many said that they would never quit on their dreams even if it meant bankruptcy or divorce. 27% actually failed at least once in pursuing their dream. But they did not quit. They regrouped, got back up and went at it again. Having a main purpose in life, I discovered, creates persistence. Persistence, I found, eventually results in good luck. Good luck usually pays dividends in the form of wealth.”

Poor habit for today is: Lack of Purpose

  • Tom Corley says, “The poor had nothing they were pursuing in life. No purpose, no dream, no goals. I should qualify that last sentence. They had dreams, but they were not taking any action on their dreams. As a result they felt stuck. Only 3% of the poor in my study were pursuing some dream.”

 

BOOK RECOMMENDATION

  • A college professor of mine said, “If you want to be smart, you have to read.” I added to the part, and I say “If you want to stay dumb, don’t read.” We’re all dumb at heart, that’s why we do dumb things. Reading is a smart thing to do and it makes you smart because you’re listening to smart people that wrote smart things. So read!
  • My book recommendation for the week is Sales Dogs
  • As I talked about in episode 12, the number 1 ability every entrepreneur must have is the ability to sell. If you can’t sell you can’t be an entrepreneur or you’ll be one for a very short time.
  • Read some books, get some coaching, decide on what products you like and go sell them.
  • You’ll get rejected a lot, but it’s a numbers game and you can get yeses.
  • Sales is not about being aggressive all the time. It depends on your personality. Use your personality and take on some characteristics of other types of people and you’ll find success in selling products you believe in.

 

CALLS TO ACTION

  • Please sign up for the NaRagstoRiches Newsletter by filling out the form on naragstoriches.com. This newsletter will be of value to you. I will be giving my best tips to support you on your journey to be debt-free, increase your income and start your own rags to riches story.
  • Please complete a review of the NaRagstoRiches Show on iTunes or any of the podcast platforms. Your reviews will help me to know what I’m doing that you like and to continue improving as a podcaster.
  • If you’re deep in debt, you want to get out of debt and not pay thousands to a debt settlement company or to a lawyer in bankruptcy, email me at jndebtfreecoach@gmail.com to see if debt free coaching may be a good fit for you.
  • I’ll share one more thing Truett Cathy said. He said, “If you have debt, you have to worry about it. I would challenge each of you to try to be debt-free.”

 

CLOSING

  • Thanks again for hanging out with me today! I hope you were inspired by something that was said in the show today. Take that bit of inspiration and write another sentence of your rags to riches story.
  • Let’s improve our lives and the lives of others! I’m Jayson Narag, your host! Thank you all for listening.

 

https://en.m.wikipedia.org/wiki/S._Truett_Cathy

http://www.christianheadlines.com/news/5-things-christians-need-to-know-about-chick-fil-a-founder-truett-cathy.html

https://www.forbes.com/profile/s-truett-cathy/

http://www.truettcathy.com

https://www.thebalance.com/s-truett-cathy-bio-chick-fil-a-story-1350972

http://www.giantsforgod.com/s-truett-cathy/

https://www.daveramsey.com/blog/7-life-lessons-from-truett-cathy

Categories: NaRagstoRiches Show

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