Chick-fil-A Owner Gives Tips for Successful Entrepreneurship

For Coahoma’s first Coffee with Entrepreneurs of the 2018-19 school year, Oxford’s Chick-fil-A operator Lance Reed answered a variety of questions that were asked by students and faculty members. He shared entrepreneurial advice with a room of nearly 100 people of the campus community.

Chick-fil-A Owner Gives Tips for Successful Entrepreneurship

Press Release from Coahoma Community College Public Relations; (662) 621-4157 - Melody Dixon


For Coahoma’s first Coffee with Entrepreneurs of the 2018-19 school year, Oxford’s Chick-fil-A operator Lance Reed answered a variety of questions that were asked by students and faculty members. He shared entrepreneurial advice with a room of nearly 100 people of the campus community.

The upcoming month of October will mark 11 years that the father of three has been working with Chick-fil-A. He said that the Chick-fil-A franchise has a group of people currently working to expand the fast-food chain internationally to places like Australia and South Korea. Within the next two years, the restaurant will operate in Hawaii and Toronto, Canada. He told attendees that net worth is a key factor franchises look at in applicants that are looking to own.

The Louisiana native gave special attention to the fact that Chick-fil-A founder Truett Cathy passed away leaving his restaurant chain debt-free. This allows new restaurants built across the nation to be paid for in cash.

Reed said that the business does a lot of work with college athletics. He went into detail about what it took for him to actually become an owner with the food company. It took a nine-month process consisting of eight to nine interviews. He reviewed the three C’s that Chick-fil-A looks for in its workers.

“No. 1 is character. At you all’s age right now, it’s hard for me to teach character,” Reed said. “So we want to find high-character people. No. 2 is we want to find people who are confident that they can actually do the job. This job is not for everybody. Then no. 3 is chemistry.”

He added that the other thing they look for is someone with an entrepreneurial spirit. He told the students how sales works

When someone asked for the no. 1 tip in entrepreneurship, Reed gave two. He told the large group of students that it is important to gain experience with people and read books.

“You are the same person today except for the books you read and the people you need,” said Reed.

He advised the aspiring entrepreneurs of the pack to read books that are good for developing great leadership skills. Reed recommended that they read Jim Collins’ “How the Mighty Fall,” pointing out the fact that it discusses Nokia’s inability to transition from analog to digital. Other informative reads by Jim Collins include “Good to Great” and “Built to Last.” 

Reed gave the good qualities of great leaders using an acronym that spells out the word ‘serve.’ A leader sees and shapes how they want their future to look, he told. He said that a leader also embodies the values they want to see, reflecting on the time when Chick-fil-A CEO Dan Cathy visited the Oxford, Mississippi franchise on West Jackson Avenue and willingly picked up trash while walking through the parking lot. 

The University of Louisiana Monroe alumnus told the students how he splits earnings from his restaurant in half with the fast food company and explained how sales works. He also referenced Patrick Lencioni’s book “The Three Signs of a Miserable Job.” He noted that anonymity, irrelevance and immeasurement are to be avoided in order to have a fulfilling work life.