693: Terry Pham on Failure is Not Trying

Terry and Jennifer Pham opened the first Fat Straws in 2002 and, despite a challenging economic climate, grew 15-20% each year. In 2007, Fat Straws launched its second store in north Dallas. Even the 2008 recession didn't slow Fat Straws' continued growth, due in part to the Pham's focus on quality control, outstanding service, community-based marketing and an emphasis on strong relationships–with customers and employees. Today, Fat Straws has reached a total store count of 4 locations and is looking to expand across the DFW area to bring "happiness in a cup" to even more thirsty customers. Check out RestaurantOwner.com as mentioned in today's episode! Check out Entrepreneur's Organization as mentioned in today's episode Check out Indistractable by Nir Eyal as mentioned in today's episode! Show notes… Calls to ACTION!!! Subscribe to the Restaurant Unstoppable YouTube Channel Join the private Unstoppable Facebook Group Join the email list! (Scroll Down to get the Vendor List!) Favorite success quote or mantra: "Failure is not tied to outcome, failure is not even trying." In today's episode with Terry Pham we will discuss: Gaining regulars becoming a staple in your customer's day/life Go out of your way to show you care The importance of sensory details of a restaurant Communication and "bedside manner" Importance of a smile The intricacies of training Entrepreneur peer groups How to survive a recession Constant improvement Guerilla marketing Quality control Expansion and scaling Honesty and goodness as inherent in people Today's sponsor: BentoBox empowers restaurants to own their presence, profits and relationships. The hospitality platform disrupts third-party services that come between the restaurant and the guest. BentoBox puts the restaurant first and offers tools that drive high-margin revenue directly through the restaurant's website. BentoBox is trusted and loved by over 5,000 restaurants worldwide including Union Square Hospitality Group, Eleven Madison Park, Gramercy Tavern, Lilia and more. Gusto offers modern, easy payroll, benefits, and HR to small businesses across the country — they were even named best online payroll by PCMag. And as a listener, you'll get three months free when you run your first payroll. Sign up and give it a try at Gusto.com/unstoppable.  MarginEdge is the only restaurant management system to combine automatic invoice processing with POS and accounting integrations, improving financial performance, visibility, and efficiency. It all starts with snapping a photo of invoices with your smartphone. We take it from there – every line item and every handwritten note is captured. We then integrate with your POS, so each day you know everything you bought and everything you sold. We create a rolling P&L with drill-down capability and it flows effortlessly to your Accounting System of choice. For 50% off your first year. Go to me.marginedge.com/unstoppable   Knowledge bombs Which "it factor" habit, trait, or characteristic you believe most contributes to your success? 5:30am accountability call Monday-Friday What is your biggest weakness? Not asking for help What's one question you ask or thing you look for during an interview? Wanting to know who they really are without trying to impress What's a current challenge? How are you dealing with it? More competition now than when we started Share one code of conduct or behavior you teach your team. Serving others What is one uncommon standard of service you teach your staff? Having empathy for others What's one book we must read to become a better person or restaurant owner? Setting the Table by Danny Meyer GET THIS BOOK FOR FREE AT AUDIBLE.COM  What's one thing you feel restaurateurs don't know well enough or do often enough? Deep understanding of financials Name one service you've hired. O&H Brand Design What's one piece of technology you've adopted within your restaurant walls and how has it influence operations? Slack: Where Work Happens If you got the news that you'd be leaving this world tomorrow and all memories of you, your work, and your restaurants would be lost with your departure with the exception of 3 pieces of wisdom you could leave behind for the good of humanity, what would they be? Failure is not tied to outcome, failure is not try Don't be afraid to be fully-known; vulnerability Find peers and get help Contact info: [email protected] Instagram: @fatstraws Facebook: @fatstraws Thanks for listening! Thanks so much for joining today! Have some feedback you'd like to share? Leave a note in the comment section below! If you enjoyed this episode, please share it using the social media buttons you see at the top of the post. Also, please leave an honest review for the Restaurant Unstoppable Podcast on iTunes! Ratings and reviews are extremely helpful and greatly appreciated! They do matter in the rankings of the show, and I read each and every one of them. And finally, don't forget to subscribe to the show on iTunes to get automatic updates. Huge thanks to Terry Pham for joining me for another awesome episode. Until next time!   Restaurant Unstoppable is a free podcast. One of the ways I'm able to make it free is by earning a commission when sharing certain products with you. I've made it a core value to only share tools, resources, and services my guest mentors have recommend, first. If you're finding value in my podcast, please use my links!