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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.


The Wealthy and Everyone Else

Originally written and published on 04/27/20 by Grant Cardone

It’s not a secret I have always been interested in wealth. Since I was a little kid and watched my mother worry about money I have been interested in learning what the wealthy knew that we didn’t know. I have spent a lifetime studying the differences and been lucky enough to adopt some of the principles that separate the wealthy from almost everyone else.

In one month twenty-six million people in the USA lost their jobs and even more had their pay reduced…the stock market lost trillions in valuation, people worldwide are concerned about their finances and their health…and thirty two million businesses in America had their revenues either stopped or interrupted.

While money won’t buy you happiness, it’s the only thing that pays the rent, health care, toilet paper, mask, food and the like. Unfortunately during this time, like any other crisis, the wealthy will get wealthier and everyone else will end up with less. It’s sad but it’s true. And this redistribution has been happening since the Great Depression (or before) and it makes me question again, how the wealthy treat money differently than others.

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HERE ARE MY TEN OBSERVATIONS OF HOW THE WEALTHY VIEW AND TREAT MONEY DIFFERENTLY THAN OTHERS.

The Wealthy                               Everyone Else

1. Money is Good                         1. Money is Bad

2. Investors                                   2. Spenders

3. Uses Debt                                 3. Used by Debt

4. Money & Happiness               4. Money or Happiness

5. Tax Savvy                                  5. Tax Victims

6. Seeking Freedom                    6. Seeking Comfort

7. Buys Time                                7. Sells Time

8. Multiple Flows                         8. Single Flow of Income

9. Wealth Driven                         9. Income Driven

10. Opportunity Focused           10. Obstacle Focused

I am sure there is more you can add to this list. Add your favorite difference in comments and if you have a question I will do my best to answer. I wrote a book called The Millionaire Booklet that covers these difference in detail and you can get it free.

I trust you will get through this time and are in a better position on the other side.

One more big difference between the wealthy and the non-wealthy is the ability to execute.

Minneapolis Restaurateur Is Putting Values Above Profits

Tomme Beevas turned his Minneapolis eatery into a donation center for those affected by the protests, and persevered in the face of threats.

 

Restaurateur Tomme Beevas co-founded his Twin Cities-based Pimento Jamaican Kitchen




BY EMILY CANAL, STAFF WRITER, INC.COM@EMILYCANAL June 3rd, 2020

In the wake of nationwide protests against the killing of black Americans by police, Inc. asked black business leaders in or near hot zones to tell us what they are experiencing.

Tomme Beevas co-founded his Twin Cities-based Pimento Jamaican Kitchen with just a gas grill and a $99 tent from Target. The Jamaican native moved to the U.S. in 1999 to study economics and political science. He would come home from his corporate job–leading community involvement at Cargill–and fire up his backyard grill to create the tastes of home. It ignited a business. Beevas and his neighbor Yoni Reinharz launched Pimento Jamaican Kitchen in 2012 and quickly gained recognition–the duo won on the Food Network’s reality competition show Food Court Wars a year later. Now the pair have a Minneapolis restaurant, a St. Paul eatery, an outpost in the Minneapolis TCF Bank Stadium, and a food truck. The company has grown revenue by20 percent annually and booked more than $2 million in revenue last year, Beevas told Inc. 

On Sunday, Beevas and his team turned the Minneapolis location into a donation and staging center for essential supplies like masks, gloves, food, and water. The protests made it difficult for people to get crucial goods, prompting Beevas to issue a call on Twitter asking for supplies. He shares how he’s faced threats against his business and how he’s continued to give back to his community. –As told to Emily Canal

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Since Covid-19, we’ve had to close our St. Paul location. We also haven’t been able to open our stadium location or food truck this year. We had carryout at our Minneapolis location and were allowed to slowly open on June 1. 

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The next pandemic we had to focus on was black people being murdered by police officers in this country. We’ve traditionally stayed out of it, but it’s gone on for too long now. Why should I stay quiet to protect my business when people are already on the front lines trying to protect my life? What’s the purpose of having a business if I don’t have a life? 

 

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We saw the need to step up. We closed the restaurant’s food services on Sunday to focus on relief services. Neighbors and people from around the world have been sending Amazon orders filled with things our community needs. We’re getting supplies and passing them directly to our community because grocery stores are closed. We’ve been able to feed 2,000 neighbors between Thursday and Tuesday. 

We knew that by putting ourselves out there, we would naturally be a target. We planned for that. We know there are people out there who don’t want to see a black business or a black business leader have this much influence. By being in a leadership [role] and taking care of our community, there are people who are like, “That’s not the way that should be.”

There have been numerous messages about people targeting us. But we haven’t had anyone successfully attack us directly. We’re fully prepared. We’re protecting people first and protecting the property second. The only reason we are protecting the property is because it’s a symbol for the community. Because of the resources for our community that we have in our facility. We’re ensuring that the people who need food can get the supplies and equipment that have been donated.

Locals donate essential goods for community members affected by the protests in Minneapolis.  inline image

Locals donate essential goods for community members affected by the protests in Minneapolis. CAITLIN ABRAMS

Someone posted a video of an employee on TikTok and the comments range from “great that you’re doing that” to “he’s looting” and “we need to take this guy out.” 

As a black man in America, we have always lived with the threats and comments being made. In my ultra-liberal, ultra-educated, and ultra-affluent community, I fear taking my garbage out every single night. The fear that I could be targeted, or the restaurant could be targeted, is an everyday occurrence in our lives in America. That’s why we’re at the forefront ensuring that it never happens again. I think it’s about damn time all of us are able to walk in peace in our neighborhood and not fear our own neighbors calling the police on us. 

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I lost a former employee to police brutality. I’d always known him to have mental health issues. He had his neighbors call the police because he was threatening to hurt himself. The police came, and before they even engaged him, he was dead. They killed him. That is the reality that is pervasive within our society. 

We are in this for the long haul; we’re going to solve this permanently. Not just for convictions [of policemen who have committed crimes], but we’re also expecting a change in legislation ensuring we have long-term, sustainable peace and safety for all citizens in Minneapolis.

BY EMILY CANAL, STAFF WRITER, INC.COM@EMILYCANAL

Covid19 has changed the way we live and do business

The Only Way to Survive and Thrive in this Environment is to start a Business or Businesses from Home!

 

Written by: Jeffrey L. Klump 05/01/20

The world is much different than it was just 60 days ago. 

New words never heard before such as “social distancing” and “self quarantine” are now the norm. 

Regardless of what Covid19 or Coronavirus actually is, or where it came from, the effects on the people of the world will be around for a long time to come. 

Just because economies are beginning to open up in different countries including the United States, does not mean things are going back to the way they were. 

There is no going back. 

Supply chains have been broken from China and will not be fixed. 

The United States in particular will have to reinvent itself and in some ways go back to the way things were back in the 1970’s. 

The trades such as carpenter’s, mechanics, tool & die maker’s, and many more will be once again in demand. 

The United States must become a producer nation instead of a consumer nation. 

We have got to start making things like we did decades ago.

There are those who do not have the skills of a tradesman, but still need to be able to survive in this new environment or the “new economy”. 

For them, the best option would be to start a business or businesses from home. 

Even though states and countries are beginning to open up, does not mean people will want to go back to work. 

Covid19 has really affected people psychologically, if nothing else. 

For them and many others, it is time to learn new skills and market them online. 

This can be done by taking online classes in digital marketing or by using a digital marketing platform not only to learn new skills, but also to learn how to make money with them and teach others and share your new found knowledge. 

TW3 is one of the best platforms available to do this. 

You can also begin writing a book and then publishing it online. 

There are literally thousands of ways to make money online. 

Even people like self made millionaire and real estate expert Grant Cardone will have to change the way he does business. 

Cardone is primarily in the apartment business which should be safe even during difficult times, but these times are not your typical recession. 

The banks were already in trouble going back to September 2019 with the freeze up in the Repo markets. 

Covid19 is just another issue that will make it more difficult for you to survive and thrive. 

Millions of renters are not going to pay their rent because they have been out of work and quarantined like everyone else. 

Don’t look to Washington for help. 

They don’t care about you in D.C.

You have got to rely on yourself, family, and friends to work together, and think for yourself. 

There is nothing but fear porn on T.V. and social media. 

Unless you are making money by being on social media, I would advise you to stay away. 

A $1200 check won’t go very far especially with food prices on the rise. 

The banks once again got bailed out to the tune of trillions just like in 2008 and Mr. & Mrs. America get a measly $1200 check. 

It may not seem fair, but, life isn’t fair. 

Take action today and make concrete steps to walk on and build a business from home. 

 

Jeffrey L. Klump is a writer, blogger, digital marketer, work from home business opportunity specialist, and former member of the Guardian Angels St. Louis Chapter. 

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