#25 Part 2 - Achieving a 4% Employee Turnover Rate in a 50% Turnover Industry w/ Tom Walter, Founder of Tasty Catering

"Solid Core Values Make It Easy To Hold People Accountable"  - Tom Walter, Founder of Tasty Catering Tom Walter (https://thomasjwalter.com/) is a serial entrepreneur, author, speaker, as well as a principal in numerous companies with over forty years of experience as an owner and operator in the service industry. He has started 32 companies, acquired 3, sold several others, and even terminated a few. He started his first business—a fast food restaurant called Tasty Pup—in 1971, with the help of his girlfriend’s monetary investment. Over the years, Tasty Pup evolved from its origins as a fast food restaurant, into today's Tasty Catering, which remains Tom’s primary and largest investment. Tasty Catering employees are shareholders in eight of the nine companies. Five of those companies are the result of employee-constructed business plans that were submitted to Tom and his brothers. Tom, Larry, and Kevin assisted in the start-up of those companies, and then remained on as equity investors. Tom’s many tasks keep him busy—sometimes that including seven-day workweeks—but he has never, in the last 40 years, felt over-worked. He believes that if you’re passionate about something you love, it will never be constituted as “work.” 01:40- A good gauge of a company is employee engagement 03:40- The average company gets 4-6% of their employees thoughts per day 06:10- Solid values make it easy to hold people accountable 06:55- Tom's seven core values 09:30- All about Tom's book and why he wrote it 13:45- Distributed leadership 16:35- Tom's most important awards 19:25- When the national average for turnover is 50%, Tasty Catering's is 4% 22:00- Finishing big: What's next for Tom? 27:35- Could you have created this business in any other country? 38:40- Q's takeaways Connect with Gary Rabine and DDCEO: Visit the DDCEO BLOG: https://www.DitchDiggerCEO.com/ Follow DDCEO on Instagram: https://www.instagram.com/DitchDiggerCEO Like DDCEO on Facebook: https://www.facebook.com/DitchDiggerCEO Follow DDCEO on Twitter: https://twitter.com/DitchDiggerCEO Subscribe on YouTube: https://www.youtube.com/channel/UCh03Px5ez_xe_oE_iJMMNIg