The Founder of Kinkos — Paul Orfalea
Founders
Intro
This chapter explores the remarkable journey of an entrepreneur who overcame dyslexia and early academic hurdles to build a multi-billion dollar business. Through engaging anecdotes, including quirky decision-making in real estate, it highlights the lessons on valuing money and the power of resilience.
What I learned from reading Copy This!: How I turned Dyslexia, ADHD, and 100 square feet into a company called Kinkos by Paul Orfalea.
----
----
Follow Invest Like The Best in your favorite podcast player here
Two episodes I recommend:
Paul Orfalea - It's About the Money episode 299
David Senra - Passion & Pain episode 292
[5:23] I've never met a more circular, out-of-the-box thinker. It's often exhausting trying to keep up with him.
[6:21] I graduated from high school eighth from the bottom of my class of 1,200. Frankly, I still have no idea how those seven kids managed to do worse than I did.
[9:29] I also have no mechanical ability to speak of. There isn't a machine at Kinko's I can operate. I could barely run the first copier we leased back in 1970. It didn't matter. All I knew was that was I could sell what came out of it.
[11:24] Building an entirely new sort of business from a single Xerox copy machine gave me the life the world seemed determined to deny me when I was younger.
[14:04] The A students work for the B students, the C students run the companies, and the D students dedicate the buildings.
[24:02] I learned to turn a lot of busywork over to other people. That's an important skill. If you don't develop it, you'll be so busy, busy, busy that you can't get a free hour, not to mention a free week or month, to sit back and think creatively about where you want to be heading and how you are going to get there.
[25:07] There's no better way to stay "on" your business than to think creatively and constantly about your marketing: how you are marketing, who you are marketing to, and, always, how you could be doing a better job at it. You'd be amazed what kind of business you can generate by a seemingly simple thing like handing out flyers.
[27:18] The phone rang. It was one of our store managers calling to ask me how to handle a bounced check. I held the receiver away from my face and looked at it, flabbergasted. If every store manager needed my help to deal with a bounced check, then we really had problems.
[40:55] I never walked in the back door used by coworkers. I walked in the front door so I could see things from the customer's perspective.
[49:06] You had to remember he'd been picking up the best ideas from all around the country.
[55:14] I believe in getting out of as much work as I possibly can.
[55:45] By now, you’d have to be as bad a reader as I am not to figure out that I have a dark side. You rarely hear people talk about their dark sides, especially business leaders, which is a shame because successful businesses aren't usually started by laid-back personalities. I don't hide the fact that I have a problem with anger.
[1:04:37] I'll give you an example of a corporate view of money. We used to sell passport photos at Kinko's and we advertised the service in the local Yellow Pages. It would cost us 75 cents to make a passport photo. I calculated that price jumped by $1 to $1.75 when you added in the cost of the Yellow Pages ads. We'd sell those photos for $13 a piece. You think this is a nice business? Shortly after we sold a controlling stake in Kinko's, the new budget people came in and, to make their numbers, they got rid of the Yellow Pages ads. They saw it as an advertising expense and didn't take into account how it affected the rest of our business. I used to go to the office and think, "Are they deliberately trying to be idiots?" These straight-A types drove me nuts. Then, like a self-fulfilling prophecy, we abandoned our passport business. That is corporate dyslexia. There is a lot of corporate dyslexia going on out there.
----
----
“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested, so my poor wallet suffers.” — Gareth
Be like Gareth. Buy a book: All the books featured on Founders Podcast
----
Founders Notes gives you the ability to tap into the collective knowledge of history's greatest entrepreneurs on demand. Use it to supplement the decisions you make in your work. Get access to Founders Notes here.
----
“I have listened to every episode released and look forward to every episode that comes out. The only criticism I would have is that after each podcast I usually want to buy the book because I am interested so my poor wallet suffers. ” — Gareth
Be like Gareth. Buy a book: All the books featured on Founders Podcast
The AI-powered Podcast Player
