EP: 207 - The Secret Formula to Building A Multi-Million Dollar Business (Guest: Derrick Hayes)

Discover the latest episode of the BWR Podcast as hosts David & Jalen sit down with Derrick Hayes, the visionary CEO behind Big Dave’s Cheesesteaks. Hailing from Philadelphia, Derrick ventured into Atlanta, introducing the iconic Philly Cheesesteak to the southern city and spearheading one of the fastest-growing restaurant startups, now boasting a team of over 144 employees.

Tune in as Derrick candidly shares his journey, delving into pivotal moments that shaped his success. Learn how he rebounded from a staggering $1 million loss, leveraging his last resources to establish and nurture his restaurant brand. He opens up about overcoming significant setbacks while scaling his company to a remarkable annual revenue exceeding $1 million.

Key Highlights:

5:05 – Unveiling the fusion of culture and culinary artistry

12:30 – Insights on the significance of networking and access in business

16:00 – Exploring the psychology of leveraging someone else's wealth

20:07 – Embracing the challenges of the entrepreneurial journey

28:45 – Recognizing the tipping point for expansion, marked by hours-long queues

31:31 – Empowering veteran employees through phantom equity

39:10 – The power of hiring expertise beyond your own

47:30 – Quality control strategies drawn from the Blue Apron model

54:07 – Final insights and reflections

Make sure to take advantage of Derrick's invaluable wisdom! Join the conversation, gain insights, and leave your feedback by giving us a 5-star rating & review ⭐️⭐️⭐️⭐️⭐️

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