#383 Todd Graves and his $10 Billion Chicken Finger Dream
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Mar 17, 2025
Todd Graves shares his incredible journey from a college project to leading a $10 billion fast-food empire, focusing solely on chicken fingers. Despite countless rejections and challenges, he emphasized resilience and a simple philosophy: do one thing and do it better than anyone else. His unique approach prioritizes quality, operational simplicity, and crew well-being, fostering an innovative work culture. From leveraging personal stakes to navigating crises like Hurricane Katrina, Todd's story inspires aspiring entrepreneurs to pursue their dreams relentlessly.
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Simplicity is Key
Focus on doing one thing exceptionally well.
Avoid overcomplicating your product or service, maintain a simple menu.
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Rockefeller's Solder
John D. Rockefeller obsessed over efficiency, saving money through small changes, like reducing solder drops on cans.
This attention to detail resulted in significant cost savings over time.
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Ignore the Naysayers
Pursue your entrepreneurial dreams despite criticism.
Many successful founders, like Todd Graves, faced initial rejection.
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Titan
The Life of John D. Rockefeller, Sr.
Ron Chernow
This biography by Ron Chernow provides an in-depth look at John D. Rockefeller, Sr., the founder of Standard Oil and one of the most influential figures in American history. Drawing on unprecedented access to Rockefeller’s private papers, Chernow reconstructs Rockefeller’s troubled origins, his single-minded pursuit of wealth, and his profound religiosity. The book also delves into Rockefeller’s philanthropic efforts, including his generous donations to the Rockefeller Foundation, the University of Chicago, and Rockefeller University. Chernow’s narrative synthesizes Rockefeller’s public and private lives, revealing a complex and multifaceted individual who was both a ruthless businessman and a devoted philanthropist. The book captures a pivotal moment in American history, documenting the post-Civil War shift from small businesses to giant corporations and featuring cameos by notable figures such as Ida Tarbell, Andrew Carnegie, and J.P. Morgan.
The Invisible Billionaire
Daniel Ludwig
Jerry Shields
The book delves into the life of Daniel Ludwig, a high-school dropout who became one of the wealthiest men in the world through his ventures in shipping, oil, banking, and real estate. Ludwig's story is marked by his relentless ambition, innovative business tactics, and a penchant for maintaining privacy despite his immense wealth. The biography also explores his philanthropic efforts, including the establishment of the Ludwig Institute for Cancer Research.
Shoe Dog
Phil Knight
Shoe Dog is a memoir that chronicles the journey of Phil Knight as he builds Nike from its humble beginnings as Blue Ribbon Sports. The book is a personal and detailed account of Knight's experiences, from his early days selling Japanese running shoes out of the trunk of his car to the global brand Nike is today. It highlights his relentless work ethic, the challenges he faced, and the key relationships with his partners and employees that were crucial to the company's success. The memoir also touches on Knight's personal life, including his family and the emotional struggles he encountered along the way[1][3][4].
Sam Walton
Made in America
John Huey
Sam Walton
In 'Sam Walton: Made in America,' Sam Walton shares his personal and professional journey, from his early life in Kingfisher, Oklahoma, to the founding and expansion of Walmart. The book is a first-person account supplemented by quotes from friends, family, and colleagues. It highlights Walton's core values, such as the importance of hard work, customer satisfaction, and competitive pricing. The autobiography also provides insights into Walton's leadership style, his approach to business, and the lessons he learned throughout his career. The book was published posthumously in 1993 and offers a compelling and inspiring look at the life of one of America's most successful entrepreneurs.
Todd Graves is one of my favorite living entrepreneurs. He's a great example of Charlie Munger's maxim: Find a simple idea and take it seriously. Todd wanted to create a quick service restaurant that only focused on quality chicken finger meals and nothing else. Everyone told him that couldn't possibly work. The college paper that described the idea that would turn into Raising Canes got the lowest grade in the class. Banks wouldn't loan him any money —but nothing could stop Todd from living out his "chicken finger dream." He worked 95 hour weeks as a boilermaker, risked his life on a commercial fishing boat off the coast of Alaska, and scrounged up startup money from his bookie and a guy named Wild Bill. Todd made every mistake in the book, over leveraged himself, almost lost everything and yet he refused to give up or sell out. Today he has over 800 locations, 50,000 employees, and owns 90% of a business that's worth at least $10 billion. Todd's maxim is "Do one thing and do it better than anyone else."
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.
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.
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