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Tactics like these, helped me build a portfolio that generates over $250M annually, follow for
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Key takeaways
- So, here are the six things they do that you can apply to your business.
- Number one is focus.
- Its competitor in the early days, Boston Market, grew as fast as it could, took on debt, went public, and now is out [music] of business.
- Chick-fil-A could increase their sales by 13% or $650 million per year by simply being open on Sunday.
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Full transcript
Locally archived YouTube transcript with timecodes. Speakers are assigned heuristically and may be corrected editorially.
0:00Chick-fil-A makes more than these three businesses combined. So, here are the six things they do that you can apply to your business. Number one is focus. They focused on selling chicken sandwiches for the past [music] 59 years in making the chicken sandwich better and better and better. Number two, they built slowly. Chick-fil-A grew slowly, didn't take on debt, and is family-owned. Its competitor in the early days, Boston Market, grew as fast as it could, took on debt, went public, and now is out [music] of business. Number three, values. Chick-fil-A could increase their sales by 13% or $650 million per year by simply being open on Sunday. But, they don't let money compromise their values, which makes them more money in the long term. Number four, hospitality. They hired people from Ritz-Carlton to help them create exquisite experiences at Chick-fil-A. Number five, compounding.
0:41They buy the land and the building for each store they build, so over time the real estate value continues to go up and compound. Number six, they don't change their menu, and this is huge. They just get better and better at what they sell. So, instead of being mediocre at many things, they're exceptional at a few. Their menu is a quarter of the size of many other big fast food chains, and all the stuff on there is arguably, in my opinion, better. Tactics like these helped me build my portfolio of companies that generate over $250 million annually. You can follow for [music] more business breakdowns.