Todd Graves who is one of the greatest entrepreneurs in modern times with persistence and a goal that he was fanatical about created the most successful QSR entrepreneur of all time with no signs of slowing down. He did an interview with David Senra from Founders and shared some of these fantastic tips and advice that we should strive to live by.
On Vision & Fanaticism
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Nothing ever happens unless someone pursues a vision fanatically.
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You have to be so fanatical when you have a dream and others don’t believe in it. Fanaticism is what carries you through.
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Being mildly obsessive compulsive is actually a good thing.
On Proving Doubters Wrong
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The best thing for an aspiring entrepreneur to be told is, ‘I don’t think that’s a good idea. I don’t think you can do that. People haven’t done that before. Why do you think you can do that?’ Because that gives entrepreneurs something to prove.
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Imagine how hard it is to start your business, then multiply that by infinity. If you’re still committed to do it, and you have the stamina to stick with it, then you’ll be successful.
On Commitment & No Retreat
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Retreat is not an option. Burn the ships.
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When you set a goal, you do it to success or failure, but you don’t stop.
On Focus & Doing One Thing Well
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Do one thing and do it better than anyone else.
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Don’t try to be all things to all people or you’re going to be nothing to anybody.
On Passion Over Money
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It’s not a career, it’s a passion.
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Don’t let money be one of your major goals because if it is, you end up living a shallow life.
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If you do things for the right reasons in business, money will come.
On Work-Life Balance (Or Lack Thereof)
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How do you have quality of life and work-life balance when you’re starting a business? You don’t. Flat out, you don’t.
On Never Being Satisfied
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You know what I see as the most common core of all the people that are successful? They’re never satisfied.
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If we’re not making mistakes, we’re not pushing ourselves, we’re not trying new things.
On Protecting the Product
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If you start cutting a little bit here to save a penny, and a little bit here, and a little bit here, it’s death by a thousand cuts. Then one day your product is not craveable.
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A franchisee is never going to run it like you do, because it’s your baby, it’s your thing, and they’re not going to take it quite as personally.
On Not Selling His Business
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If you lose your baby, you lose purpose, then you lose purpose in life.
On Financial Discipline
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From that day on I said, ‘I’ll never, ever, ever, put the company in a position that we’re financially strapped. I’ll never do that again.’
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Sales cure all woes.
On Serving Your Team
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We’re not a corporate office. We are a restaurant support office. We’re here to support the people who are serving our customers.
