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Making a Fortune in Food & Franchising - Derrick Hayes #397

Updated: Oct 30, 2023





Patience and long-term vision.

Patience and long-term vision are two essential qualities that can greatly contribute to success in any endeavor. This is evident in the podcast transcript, where the interviewee, identified as "D. Hayes," discusses his journey towards opening a hundred restaurants and his recent partnership in the spirits industry. Throughout the conversation, D. Hayes emphasizes the importance of patience and having a long-term vision.


Derrick Hayes acknowledges that building a successful business empire does not happen overnight. He mentions that sometimes in life, things may not be pretty in the beginning, but it is crucial to stay focused and committed to the long-term goal. He compares the journey to a marathon rather than a track meet, emphasizing the need for endurance and perseverance.


One aspect that stands out in D. Hayes' approach is his willingness to wait for the right opportunities and not rush into immediate gains. When discussing his deal with the liquor company, he mentions that he is more concerned about the back end, residual income, and ownership rather than upfront money. He understands that focusing on long-term benefits and building sustainable wealth is more important than quick financial gains.

D. Hayes also emphasizes the importance of patience in building relationships and connecting with like-minded individuals. He believes that by sharing information and growing together, individuals can achieve higher levels of success. He values genuine connections and creating a sense of family among those he interacts with. This shows that patience extends beyond personal gains and encompasses the development of meaningful relationships and collaborations.


Furthermore, D. Hayes recognizes the value of learning from successful individuals who have achieved long-term success. He pays attention to the strategies employed by "big dogs" and understands that lasting success often requires patience and a strategic approach. By observing how others have reached their goals, he gains insight into the importance of patience and long-term vision.


In conclusion, the podcast transcript highlights the significance of patience and long-term vision in achieving success. D. Hayes' journey towards opening a hundred restaurants and his recent partnership in the spirits industry underscore the importance of staying committed to long-term goals, building sustainable wealth, and developing meaningful relationships. By prioritizing the back end and focusing on residual income and ownership, D. Hayes demonstrates a strategic approach that values long-term benefits over immediate gains. Ultimately, patience and long-term vision are crucial qualities that can lead to success in various aspects of life.






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