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How To Learn About Entrepreneurship From Colonel Sanders

The 7 Inspiring Lessons Colonel Sanders Can Teach Us About Entrepreneurship

Published 2 days ago

on Aug 30, 2020

By Graham Chapman


Colonel Sanders was rejected exactly 1009 times before he was able to sell his KFC recipe successfully. In addition to this, he failed at every job he even turned his hand to during his life. After a lifetime of facing failure after failure, he finally sold KFC at the ripe old age of 75.

In this blog, we’ll be covering seven of the inspiring lessons that the Colonel’s entrepreneurial journey can teach us, and whether you’re 25 or 75 years old, there’s something here for any budding entrepreneur.

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Lesson #1: Failure Breeds Success

As I mentioned, the Colonel was rejected over a thousand times before he was successfully able to sell his Kentucky Fried Chicken recipe – that’s a lot of rejection. Not only that, but Sanders failed miserably at every other career he ever attempted. Between the ages of ten and forty, Sanders tried his hand at the following, among other things:

  • Streetcar conducting
  • Farming
  • Law
  • Sales
  • Fire fighting

This just goes to show that no matter how much you experience failure, there’s still time, no matter how old you are, which brings us neatly onto our next lesson.

“I’ve only had two rules. Do all you can and do it the best you can. It’s the only way you ever get that feeling of accomplishing something.” – Colonel Sanders

Lesson #2: It’s Never Too Late

When Colonel Sanders was 75, he finally sold KFC for $2 million (roughly $15 million today). Can you imagine experiencing such a win, after a lifetime of losing? I’ve met people during my career who think they’re over the hill by the time they’re in their thirties! Yet the Colonel ploughed on in the face of adversity and ended up as the founder and face of a brand we’re still so familiar with over five decades later. 

Lesson #3: The Past is In the Past

In order to be successful as an entrepreneur, many people simply need to learn that the past is in the past, and it will only define your future chance of success if you allow it to. It doesn’t matter how many times you’ve failed, where you’ve come from or what negative things you’ve experienced or done in the past.

Your past doesn’t hold the keys to your future success. The Colonel failed at every career he ever attempted. He even spent much of his life in an unhappy marriage, ending in divorce and had to provide for three children by the time he was nineteen. For most, that’d be enough for them to settle down into an unfulfilling career, but the Colonel pressed on with faith in his own abilities and principles. 

Lesson #4: Giving Up is the Only Way to Fail

Failure is a natural side effect of life; the story of Kentucky Fried Chicken tells us that quitting is the only failure. If you have the same outlook and faith in what you’re trying to do, the possibility of significant success is never off the table. Even when you see the clock is ticking and the days and years are flashing by, there’s no time limit on being a success. Never stop searching for that light at the end of the tunnel.

Lesson #5: A Fresh Start is Sometimes All You Need

It’s clear to us now that cooking was a passion of the Colonel’s, but he didn’t discover his enthusiasm until much later in his life. It’s only through having the courage to fail and start over, again and again, that he was able to discover his real calling. 

When you try to succeed at multiple disciplines, it’s a sure-fire way to burn yourself out. The start is always the hard part, and for most, the idea of doing it over and over again, in their 50s, 60s and 70s would be absolutely exhausting. The energy and passion that the Colonel showed by doing this well into his seventies is an inspiring lesson to any entrepreneur. 

Lesson #6: Take a Leap of Faith

It’s no great shock to learn that following your heart’s desire is often the key to success, happiness and contentment. How is it then, that so many of us won’t chase after what we truly want from life? Sitting back and relaxing into your comfort zone means that many of us don’t realize how vital passion and desire really are. In the end, the pursuit of a passion will make anyone happy, contented and prosperous. 

“One has to remember that every failure can be a stepping stone to something better.” – Colonel Sanders

Lesson #7: Keep it Simple

It seems crazy to say it, but Kentucky Fried Chicken started by selling chicken on the side of the road. After selling his recipe, the business grew rapidly, and these days it’s commonplace to see KFC franchises in countries all over the world – 145 to be exact. The lesson here is never to be afraid of keeping things simple. So long as you’re willing to start, work hard and keep at it, things will grow. 

It’s often the case that would-be entrepreneurs will put off starting their venture, launching their website or whatever it might be because they simply don’t believe they are big enough to make a start.

 RELATED TOPICS: COLONEL SANDERSENTREPRENEURSHIPEXPERIENCING FAILUREFAILUREHOW TO OVERCOME FAILUREKFCPERSEVERANCERISKSUCCESSFUL ENTREPRENEURSTAKING RISKSDON’T MISSWomen Trailblazers: The Most Successful Female Founder in Every Country

Graham Chapman

Graham Chapman is a sustainable product and business expert and owner of powerguard.co.uk.


How to Close Sales Faster In a Pandemic

BY: MARK HUNTER|PUBLISHED ON: AUG 26, 2020|CATEGORIES: SALES MINDSETSALES MOTIVATIONSALES PROCESS0 COMMENTS

My newest book, A Mind For Sales, relates to what we’re dealing with today in the middle of a pandemic. So much of it has to do with our mind. There’s a tremendous amount of business out there; we just have to be flexible and willing to adapt to go find it.

I’m going to share with you 10 steps on how to close sales faster in a pandemic.

I encourage you to hit subscribe so you have access to the new content I put out there every week – on my blog.

1. Keep It Simple for Your Customers

This is not the time to get into a complex sales process. It’s not the time to get into major, major deals that are going to take years to close and involve multiple people. With a lot of people working from home, it’s much harder to get people together. You have to keep everything in your sales process and in what you sell. All of it must be simple in order to help the person or maybe the two people you’re speaking with to make a fast decision.

2. Focus on Your ICP

Now more than ever, you have to stay tight with your ICP – ideal customer profile. Stay focused. It is too easy to chase the shiny object for the sake of trying to find business; however, when you get outside your lane and start dealing with people not within your ICP, it will take you much longer to understand them and for them to understand you. That will just slow down the process. Stay in your lane and stay focused on your ICP.

3. Fast Prospecting

What is fast prospecting all about? It means you need to double down and triple down the speed with which you’re interacting with customers. This is not the time to sit there and say that you’ll slowly continue to reach out to them like every month. No! It’s not the time for that. You have to take whatever your process was, cut the time in half, and double the contacts. Prospecting must be faster than ever. In other words, if you normally reach out to your prospects every two weeks, now it needs to be every week. If you usually reach out every week, reach out every three days. Speed is what it takes. Speed sells!

4. Narrow the Solution

When you talk to a customer and engage them, the solution is not to start throwing out all of these ideas as to what they can do or all these things that they’re going to be able to accomplish. No, it’s not the time to sell world peace. This is not the time to try to find a solution for hunger. Now is the time to narrow the solution and help the customer achieve that one specific outcome that they’re looking to achieve.

5. Shorten the RSI

Remember that customers don’t want to be sold to and really, I don’t even think they want to buy. What they desire is a return on their investment. That is what they truly want, so it’s your job to show your customers how they can quickly receive a return on their investment when they buy from you and invest with you. Therefore, let them know that when they buy “x” service or product from you, they will immediately get value back. I have to do everything possible to shorten the ROIC, because things are just too unstable as we look long-term.

6. Limit the Options

When you get to the point of putting things out on the table, don’t say, “well, hey, why don’t you pick from one of 18 different items?” This is not the time to play buffet. No, no. You must limit the options. Any time you present too many options, you automatically slow down the decision-making process because the customer needs more time to think about it. Don’t put more than three options out on the table.

7. Trust

One of the reasons I am able to only put two or three options on the table is because I’ve earned their trust. Without a doubt, trust is key. Everything in your sales process must be centered around helping the customer understand that they can trust you, because you trust them.

Confidence starts in the listing and the respect. Confidence creates integrity, and integrity is really the sister or brother of trust. The greater the level of trust you have, the faster the customer is willing to make a decision with you.

8. Two-Way Street

Have you ever driven down a two-way street and noticed there are cars on the other side? They’re coming at you from the opposite direction. So, what is a two-way street and how does it relate to sales and prospecting? When it comes to helping you close sales faster, you have to understand that there will be give and take on both sides, but stay in your lane. This does not mean that you give the customer everything he/she wants. No, not at all. You don’t do that. Just understand that there may be wiggles and shakes that you need to be prepared for, and that’s okay.

9. Land and Expand

I want you to put this simple phrase on your computer. Put it on your phone. It’s your objective to make it so simple for your customer to do business with you that you land them as a new customer. Then, once you do, you expand that customer and begin building into and getting them in additional ways. But you have to create that initial sale first.

10. Value your Time

Your time is your most prized resource. It’s not what you sell. It’s not your customer. It is your time. In order to use your time wisely, go back through this list of nine and ask yourself where you need to change things. When you begin to understand the value of your time and that you can’t put a price on it, you’ll be able to close sales faster than ever. Time is priceless.

For more tips on valuing your time, go check out my blog post and video on How to Gain An Extra Three Weeks Every Year.

Copyright 2020, Mark Hunter “The Sales Hunter” Sales Motivation Blog.  Mark Hunter is the author of A Mind for Sales and High-Profit Prospecting: Powerful Strategies to Find the Best Leads and Drive Breakthrough Sales Results.


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How To Know If You Are a Proactive or Reactive Salesperson

How To Know If You Are a Proactive or Reactive Salesperson

The new norm is there is no norm.

BY: MARK HUNTER|PUBLISHED ON: JUL 30, 2020|CATEGORIES: SALES MINDSETSALES MOTIVATION0 COMMENTS

The new norm is there is no norm. Did you wake up this past January and think that 2020 would be what it is now? Probably not. This is causing a real problem, because it’s making too many salespeople be reactive in nature. You can’t afford to be…

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How To Know If You Are a Proactive or Reactive Salesperson

The new norm is there is no norm.

BY: MARK HUNTER|PUBLISHED ON: JUL 30, 2020|CATEGORIES: SALES MINDSETSALES MOTIVATION0 COMMENTS

The new norm is there is no norm. Did you wake up this past January and think that 2020 would be what it is now? Probably not. This is causing a real problem, because it’s making too many salespeople be reactive in nature. You can’t afford to be reactive. More than ever in this point in time, you must be proactive. I wrote the book, A Mind For Sales, where I stress the importance of having a proactive mindset. Believe it or not, you can’t control what’s going on out there. I can’t either. Neither one of us knew what would transpire over the last 60 to 90 days and we have no idea what will unfold over the next 60 to 90 days. 

Video – Are You a Proactive or a Reactive Salesperson? 

The problem I see is too many salespeople hunkering down and saying, “I’m just going to take care of existing customers. I’m going to just react to what’s happening out there.” If this is you, I urge you to stop now. This is the time, more than ever, to be proactive. You probably wonder how you can be proactive when you can’t determine what will happen in the future, but you know what? You do have control over what you’re going to do, and you can help control what your customers and prospects choose to do too. 

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Be proactive in bringing ideas and solutions to your customers. More than ever, you need to be their R and D, (research and development) Department right now. You need to reach out to prospects because you need to be the one that helps them with the many decisions they need to make. Since we’re in the middle of summer, I know how easy it can be to just kick back, relax a bit, and just wait until fall to see how things evolve. However, you don’t know what will happen – good or bad. If you’re not proactive, you will waste valuable time. 

Starting right now, work on getting out of the reactive mode and into the proactive mode. Be proactive in bringing ideas to your existing customers and helping them find solutions. Most importantly, be especially proactive with your prospects. If you don’t control your future, why should anybody else try to control it for you? You own your future. You own your success. It all starts by being proactive with how you reach out and do sales every day, every hour.

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In my book, A Mind For Sales, I share that being a successful salesperson really comes down to your mind because your mind is your greatest asset. Learn how to develop a proactive mindset to change your mind for the better.

If you haven’t read it, go buy a copy today! Also, do me a huge favor and post a review on Amazon. Reviews are the best way to help spread the word.