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Good Money with Derrick Kinney

David Salyers—Are You Building a “Be Rich” or “Get Rich” Business?

Good Money with Derrick Kinney

Derrick Kinney

Investing, Entrepreneurship, Business

51.5K Ratings

🗓️ 26 July 2021

⏱️ 50 minutes

🧾️ Download transcript

Summary

What if the key to a booming business was more than just increasing sales? Former Chick-fil-A Vice-President of Marketing, David Salyers, explains how the company’s values and goals are different from its competitors. He shares the principles you can apply in your business now to create more raving fans and earn more money. David says to stop “creating transactions” and start “creating relationships” with your customers. Many “nuggets” of wisdom in this episode!

What you will learn:

  • Find a job you don’t want to retire from
  • Create culture intentionally
  • “Get rich” business vs. “be rich” business
  • How to balance the value equation
  • Create raving fans
  • Money should be the cherry on top

Quotes:

  • “If your goal is to stop doing something as quickly as possible, what does that tell you about how much you're enjoying what you're doing, if your goal is to stop doing it?” – David Salyers
  • “You have to become the organization that the people you’re looking for are looking for.” – David Salyers
  • “I've come to the conclusion that customers will never be more excited, more passionate, more raving fans of a company than your own employees are.” – David Salyers
  • “So many people think they sort of stumble into culture, but as you're talking about it you can create it and mold it and shape it and design it and it happens with focus and intentionality.” – Derrick Kinney
  • “Values are only really values when you're willing to sacrifice for them.” – David Salyers
  • “True riches in life will never be found in a bank account. They're found in the richness of relationships, in the richness of feeling valued, and the richness of having meaningful work and all these things.” – David Salyers
  • “If we have enough fans, sales will never be a problem. If we create enough fans, they’ll recruit other people to come do business with.” – David Salyers
  • “A way to think about it is, how can I make the day to do so enriching and engaging and exciting that it’s almost like the money I make is the cherry on top, not the point.” – David Salyers

Free Valuable Report for our Listeners: “3 Beliefs About Money Your Kids Should Learn That No One is Teaching Them”

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Recommended Resources:

  • Davidgsalyers.com

Transcript

Click on a timestamp to play from that location

0:00.0

So our marketing strategy was not, how are we going to create more sales?

0:03.5

It was, how are we going to create more fans?

0:06.1

Because if we'll have enough fans, sales will never be a problem.

0:17.4

Welcome to Good Money, or we believe money is not bad,

0:20.7

and good people should have more of it.

0:23.2

Good money in the hands of good people gets good work done.

0:26.8

I'm your host, Derek Kinney.

0:29.6

My guest today helped transform a restaurant you know and love

0:34.3

into one of the world's most iconic brands.

0:37.0

I'll give you a hint, eat more chicken.

0:40.2

As one of the two original marketing executives at Chick-fil-A,

0:44.1

David Sawyer spent 37 years helping turn Chick-fil-A

0:48.0

from a sandwich company into the multi-billion dollar business

0:52.0

that you adore.

0:53.4

And today, he's revealing how Chick-fil-A did it.

0:56.9

David explains how Chick-fil-A's values and goals are different

1:00.7

from its competitors and how you can apply the same principles

1:04.6

to change your business, to start creating more fans

1:08.0

and earning more money.

1:09.8

Plus, he shares the secret to getting your customers

1:12.8

to come back again and again.

1:15.4

And it doesn't start with an awesome customer experience.

...

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