INTRODUCTION

Entrepreneur has been defined as a person who starts, organizes and manages any
enterprise, especially a business, usually with considerable initiative and risk. Rather
than working as an employee, an entrepreneur runs a small business and assumes all
the risk and reward of a given business venture, idea, or good or service offered for
sale. The entrepreneur is commonly seen as a business leader and innovator of new
ideas and business processes.
Entrepreneurs tend to be good at perceiving new business opportunities and they
often exhibit positive biases in their perception and a pro-risk-taking attitude that
makes them more likely to exploit the opportunity. An entrepreneur is typically in
control of a commercial undertaking, directing the factors of production
the human, financial and material resourcesthat are required to exploit a business
opportunity. They act as the manager and oversee the launch and growth of an
enterprise.
Entrepreneurship is the process by which an individual identifies a business
opportunity and acquires and deploys the necessary resources required for its
exploitation. The exploitation of entrepreneurial opportunities may include actions
such as developing a business plan, hiring the human resources, acquiring financial
and material resources, providing leadership, and being responsible for the venture's
success or failure.
Theory of Entrepreneurship

Economy - Described as someone who is able to spot opportunities that may exist in
the market in which it allows them to turn the commonplace into the
unique and unexpected.

Harland Sanders work ethic, along with his creative approach to doing business,
made him one of the pioneers of a new industry. Before he established his chicken
franchises, there really was no such thing as fast food in the United States. But
Sanders realized that Americans during the 1940s and 1950s were increasingly on the
move and needed places to eat while traveling that were clean and convenient with
speedy, dependable service and quality food. His accomplishments in fast-food
franchising paved the way for similar businesses to grow and thrive to the point where
they are now a central part of American life. For example, Dave Thomas, the founder
of Wendys International, began his career with a Kentucky Fried Chicken franchise
in Columbus, Ohio.
Sanders employed innovative marketing techniques to expand his business. His
very image as a Southern gentleman proved to be an extraordinarily successful sales
tool. Before the Colonel, noted Thomas, there was never an image in the food
industry. I think the Colonel really provided that. He was really a personality. Indeed,
Sanders appeared in commercials for the company as late as 1979, the year before his
death. So effective was his distinctive image that a 1994 advertising campaign used a
look-alike actor to impersonate him in a series of new, folksy television spots.
Sanders relied on several other brilliant marketing strategies. By calling his product
Kentucky Fried Chicken instead of merely fried chicken, he made it seem special.
Furthermore, he added mystery and interest by calling attention to the 11 secret herbs
and spices in his coating recipe. He came up with a special flavor that was
addictive, observed John Y. Brown. He was the first trendsetter to have a real
differentiation in taste in the field.
Sanders liked to remain personally involved in sales and promotion. Whenever a
new franchise opened, he wanted to be there to hand out coupons and speak on local
radio and television. Thomas recalled, The Colonel was right out there with us in
rain or snow. There wasnt anything in the restaurant he wouldnt do. Franchise
owners appreciated Sanders loyalty and interest and repaid him by working hard and
making the business grow.
Quality was always an issue with Sanders. Employees remember him bursting
into kitchens to check up on them and show them how to do things properly. Harman
Management chairman Jackie Trujillo, who first met Sanders when she worked as a
carhop at a Harmans in Salt Lake City, said, He used to visit us often. Service,
quality and cleanliness was No. 1. He never backed down from that. One of his
favorite sayings was if youve got time to lean, youve got time to clean.
In short, declared Brown, Nobody can really touch the Colonel when it comes to
creating a concept that was ahead of its time. Sanders was a true pioneer in a
business who tapped into Americans growing desire for mobility and easy living. The
fast-food industry he helped create has now become a way of life, not only in the
United States but in a substantial part of the rest of the world as well.

Psychology - Certain unique personality in traits in entrepreneurs that distinguish

them from the general population.

We have seen that when he was first getting his chicken recipe and cooking
approach off-the-ground in the forerunner days of KFC that it required
experimentation and innovation. It is reasonable to speculate that his prior grounding
in cooking from an early age was a factor that led to his willingness to undertake these
kind of innovative attempts at improving chicken and the cooking of chicken.
He was impatient in school, left school, took a multitude of odd jobs, all of which
suggests that he was the type of person that was always on the look for the next thing,
and not sure what it would be, but that continual exploration was needed. His
mercurial personality, often a large disadvantage, seemed to be combined with a fierce
determination, which is often an advantage, and he was fortunately able to channel the
determination aspects into forging ahead with KFC when most might have not
pursued something seemingly so unlikely.
He started up a new business, showcasing the kind of entrepreneurial spunk that
later was instrumental in the launching of KFC. He also started a second new
business, which though it flopped, it demonstrated that he was an earnest entrepreneur
willing to continue the path of creating start-ups and make a business rather than work
in a conventional business per se.
 Eventually, the restaurant focus that ultimately proved his chicken to be highly
successful might have been sufficient for the rest of his life. In other words, had the
new interstate not been put in place, he presumably would have been content with the
restaurant and not have felt compelled to venture much further. The interstate that
forced the closure of the restaurant became a trigger to do something else.
Though already at an older age and near retirement, and an age when most would
never think of trying to start a new business, he opted to try his hand at doing so. This
seems befitting the nature of his determination and spirit. It was also driven by his
passion for cooking and his belief in what he had done with chicken and the cooking
of chicken. This was not a belief based only on his own enthusiasm, as he had seen
how popular his chicken was by how well it worked at his restaurant. Some
entrepreneurs believe in their own minds that their product or service is fantastic, but
the marketplace has not yet equally verified it. For the Colonel, he knew his chicken
was successful. This was a worthy factor in terms of taking risks to go further with it.

Sociology - Culture and religious doctrine provide the motives behind the
entrepreneurship since they generate the moral energy and ones faith
through performance.

The title of the founder and symbolic icon of the fast-food restaurant
chain KFC, Colonel Harland Sanders, comes from his status as a Kentucky colonel.
He became so well known that he was sometimes referred to simply as "The
Colonel". Another example of the use of the Kentucky colonel honorific title in
business marketing is seen in the ongoing historic association between Kentucky
and bourbon whiskey production. As of 2013, approximately 95% of all bourbon is
produced in Kentucky, and the state has 4.9 million barrels of bourbon that are
currently aging. The historic distiller James B. Beam is referred to as "Colonel James
B. Beam" for the marketing of the Jim Beam brand and the Sazerac
Company similarly refers to the distiller Albert Blanton as "Colonel Blanton" for their
marketing of the Blanton's brand. In both cases, the "Colonel" title refers to being a
Kentucky colonel. A brand of Kentucky bourbon called Kentucky Colonel was
produced in the 1980s, and at least two current brands of Kentucky bourbon have the
word "Colonel" in their name specifically, the Colonel E. H. Taylor, Jr. and Colonel
Lee bourbon brands.
 A number of sports teams in Kentucky, especially in Louisville, its largest city,
have been known as the Kentucky Colonels or the Louisville Colonels. These include
the Kentucky Colonels professional basketball team of 19671976, the Kentucky
Colonels professional basketball team of 2004, and the Eastern Kentucky Colonels
and Lady Colonels athletic teams of Eastern Kentucky University. However a 2008
lawsuit from the Kentucky Colonel's Association led to the end of this practice. The
suit stemmed from copyright and trademark infringement by a Bantam
League hockey team in the Heartfield area, which the KCA claims stole the full logo
and name of the order. A local campaign was started on social networking
site Facebook, called "Free Kentucky Colonel", encouraging the local magistrate to
drop the lawsuit and for the Kentucky Colonel's logo to be placed back into public
domain. A popular bluegrass band of the 1960s was also called the Kentucky
Colonels. It included Clarence White, who was later with The Byrds and who also
worked extensively as a session musician with various highly prominent performers.
Profile Of Entrepreneur

I. Background of Colonel Harland Sanders

Colonel Harland Sander is best known for creating a fried chicken recipe
that would become the worlds fast food chicken chain, Kentucky Fried
Chicken. His name and image are still symbols of the company nowadays.
Colonel Harland Sanders was born on 9 September 1890, in Henryville,
Indiana. The family attended the Advent Christian Church. The family were
of mostly Irish and English ancestry. His father was a mild and affectionate
man who worked his 80-acre farm, until he broke his leg after a fall. He then
worked as a butcher in Henryville for two years. Sanders' mother was a
devout Christian and strict parent, continuously warning her children of the
evils of alcohol, tobacco, gambling, and whistling on Sundays.
One summer afternoon in 1895, his father came home with a fever and
died later that day. Sanders' mother obtained work in a tomato cannery, and
the young Harland was required to look after and cook for his siblings. By the
age of seven, he was reportedly skilled with bread and vegetables, and
improving with meat; the children foraged for food while their mother was
away for days at a time for work. When he was 10, Sanders began to work as
a farmhand for local farmers Charlie Norris and Henry Monk. In 1902,
Sanders' mother remarried to William Broaddus, and the family moved
to Greenwood, Indiana.
Sanders had a tumultuous relationship with his stepfather. In 1903, he
dropped out of seventh grade and later stating that "algebra's what drove me
off", and went to live and work on a nearby farm. At age 13, he left home by
himself. He then took a job painting horse carriages in Indianapolis. When he
was 14, he moved to southern Indiana to work as a farmhand for Sam Wilson
for two years. In 1906, with his mother's approval, Sanders left the area to
live with his uncle in New Albany, Indiana. His uncle worked for
the streetcar company, and secured Sanders a job as a conductor. Sanders
falsified his date of birth and enlisted in the United States Army in October
1906, completing his service commitment as a teamster in Cuba. He was
honorably discharged in February 1907 and moved to Sheffield, Alabama,
where an uncle lived. There, he met his brother Clarence who had also moved
there in order to escape their stepfather. The uncle worked for the Southern
Railway, and secured Sanders a job there as a blacksmith's helper in the
workshops. After two months, Sanders moved to Jasper, Alabama where he
got a job cleaning out the ash pans of trains from the Northern Alabama
Railroad in division of the Southern Railway when they had finished their
run. Sanders progressed to become a fireman at the age of 16 or 17.
In 1909, Sanders found laboring work with the Norfolk and Western
Railway. While working on the railroad, he met Josephine King of Jasper,
Alabama, and they were married shortly afterwards. They would go on to
have a son, Harland, Jr., who died in 1932 from infected tonsils, and two
daughters, Margaret Sanders and Mildred Sanders Ruggles. He then found
work as a fireman on the Illinois Central Railroad, and he and his family
moved to Jackson, Tennessee. By night, Sanders studied law by
correspondence through the La Salle Extension University. Sanders lost his
job at Illinois after brawling with a colleague. While Sanders moved to work
for the Rock Island Railroad, Josephine and the children went to live with her
parents. After a while, Sanders began to practice law in Little Rock, which he
did for three years, earning enough in fees for his family to move with
him. His legal career ended after a courtroom brawl with his own client.
After that, Sanders moved back with his mother in Henryville, and went
to work as a laborer on the Pennsylvania Railroad. In 1916, the family moved
to Jeffersonville, where Sanders got a job selling life insurance for
the Prudential Life Insurance Company. Sanders was eventually fired for
insubordination. He moved to Louisville and got a sales job with Mutual
Benefit Life of New Jersey.
In 1920, Sanders established a ferry boat company, which operated a boat
on the Ohio River between Jeffersonville and Louisville. He canvassed for
funding, becoming a minority shareholder himself, and was appointed
secretary of the company. The ferry was an instant success. Around 1922 he
took a job as secretary at the Chamber of Commerce in Columbus,
Indiana. He admitted to not being very good at the job, and resigned after less
than a year. Sanders cashed in his ferry boat company shares for $22,000 and
used the money to establish a company manufacturing acetylene lamps. The
venture failed after Delco introduced an electric lamp that they sold on credit.
Sanders moved to Winchester, Kentucky, to work as a salesman for
the Michelin Tire Company. He lost his job in 1924 when Michelin closed
their New Jersey manufacturing plant. In 1924, by chance, he met the general
manager of Standard Oil of Kentucky, who asked him to run a service
station in Nicholasville. In 1930, the station closed as a result of the Great
Depression.
In 1930, the Shell Oil Company offered Sanders a service station
in North Corbin, Kentucky, rent free, in return for paying them a percentage
of sales. Sanders began to serve chicken dishes and other meals such
as country ham and steaks. Initially he served the customers in his adjacent
living quarters before opening a restaurant. It was during this period that
Sanders was involved in a shootout with a Matt Stewart, a local competitor,
over the repainting of a sign directing traffic to his station. Stewart killed a
Shell official who was with Sanders and was convicted of murder, eliminating
Sanders' competition. Sanders was commissioned as a Kentucky Colonel in
1935 by Kentucky governor Ruby Laffoon.
In July 1939, Sanders acquired a motel in Asheville, North Carolina. His
North Corbin restaurant and motel was destroyed in a fire in November 1939,
and Sanders had it rebuilt as a motel with a 140-seat restaurant. By July
1940,Sanders had finalized his "Secret Recipe" for frying chicken in
a pressure fryer that cooked the chicken faster than pan frying.
As the United States entered World War II in December 1941, gas was
rationed, and as the tourists dried up, Sanders was forced to close his
Asheville motel. He went to work as a supervisor in Seattle until the latter
part of 1942. He later ran cafeterias for the government at an ordnance works
in Tennessee, followed by a job as assistant cafeteria manager in Oak Ridge,
Tennessee. He left his mistress, Claudia Ledington-Price, as manager of the
North Corbin restaurant and motel. In 1942, he sold the Asheville business. In
1947, he and Josephine divorced and Sanders married Claudia in 1949, as he
had long desired. Sanders was "re-commissioned" as a Kentucky Colonel in
1950 by his friend, Governor Lawrence Wetherby.
Sanders was diagnosed with acute leukemia in June 1980.He died at
Jewish Hospital in Louisville, Kentucky of pneumonia on December 16, 1980
at the age of 90. Sanders had remained active until the month before his
death, appearing in his white suit to crowds. His body lay in state in the
rotunda of the Kentucky State Capitol in Frankfort after a funeral service at
the Southern Baptist Theological Seminary Chapel, which was attended by
more than 1,000 people. Sanders was buried in his characteristic white suit
and black western string tie in Cave Hill Cemetery in Louisville.
 II. Type of business

In 1952, Sanders franchised his secret recipe "Kentucky Fried Chicken" for the
first time, to Pete Harman of South Salt Lake, Utah, the operator of one of that city's
largest restaurants. In the first year of selling the product, restaurant sales more than
tripled, with 75% of the increase coming from sales of fried chicken. For Harman, the
addition of fried chicken was a way of differentiating his restaurant from competitors;
in Utah, a product hailing from Kentucky was unique and evoked imagery
of Southern hospitality. Don Anderson, a sign painter hired by Harman, coined the
name Kentucky Fried Chicken. After Harman's success, several other restaurant
owners franchised the concept and paid Sanders $0.04 per chicken. Sanders believed
that his North Corbin restaurant would remain successful indefinitely, but at age 65
sold it after the new Interstate 75 reduced customer traffic. Left only with his savings
and $105 a month from Social Security, Sanders decided to begin to franchise his
chicken concept in earnest, and traveled the US looking for suitable restaurants.
After closing the North Corbin site, Sanders and Claudia opened a new restaurant
and company headquarters in Shelbyville in 1959. Often sleeping in the back of his
car, Sanders visited restaurants, offered to cook his chicken, and if workers liked it
negotiated franchise rights. Although such visits required much time, eventually
potential franchisees began visiting Sanders instead. He ran the company while
Claudia mixed and shipped the spices to restaurants. The franchise approach became
highly successful KFC was one of the first fast food chains to expand internationally,
opening outlets in Canada and later in England, Mexico and Jamaica by the mid-
1960s. Sanders obtained a patent protecting his method of pressure frying chicken in
1962. Sanders trademarked the phrase "It's Finger Lickin' Good" in 1963.
The company's rapid expansion to more than 600 locations became overwhelming for
the aging Sanders. In 1964, then 73 years old, he sold the Kentucky Fried Chicken
corporation for $2 million to a partnership of Kentucky businessmen headed by John
Y. Brown, Jr. and Jack C. Massey, and he became a salaried brand ambassador. The
initial deal did not include the Canadian operations or the franchising rights in
England, Florida, Utah, and Montana .
In 1965, Sanders moved to Mississauga, Ontario to oversee his Canadian
franchises and continued to collect franchise and appearance fees both in Canada and
in the U.S. Sanders bought and lived in a bungalow at 1337 Melton Drive in
the Lakeview area of Mississauga from 1965 to 1980. In September 1970 he and his
wife were baptized in the Jordan River. He also befriended Billy Graham and Jerry
Falwell. Sanders remained the company's symbol after selling it, traveling 200,000
miles a year on the company's behalf and filming many TV commercials and
appearances. He retained much influence over executives and franchisees, who
respected his culinary expertise and feared what The New Yorker described as "the
force and variety of his swearing" when a restaurant or the company varied from what
executives described as "the Colonel's chicken".
One change the company made was to the gravy, which Sanders had bragged was
so good that "it'll make you throw away the darn chicken and just eat the gravy" but
which the company simplified to reduce time and cost. As late as 1979 Sanders made
surprise visits to KFC restaurants, and if the food disappointed him, he denounced it
to the franchisee as "God-damned slop" or pushed it onto the floor. In 1973, Sanders
sued Heublein Inc. the then parent company of Kentucky Fried Chickenover the
alleged misuse of his image in promoting products he had not helped develop. In
1975, Heublein Inc. unsuccessfully sued Sanders for libel after he publicly described
their gravy as being "sludge" with a "wall-paper taste". Sanders and his wife reopened
their Shelbyville restaurant as "Claudia Sanders,
 The Colonel's Lady" and served KFC-style chicken there as part of a full-service
dinner menu, and talked about expanding the restaurant into a chain. He was sued by
the company for it. After reaching a settlement with Heublein, he sold the Colonel's
Lady restaurant, and it has continued to operate since then. It serves his "original
recipe" fried chicken as part of its dinner menu, and it is the only non-KFC restaurant
that serves an authorized version of the fried chicken recipe.
Sanders remained critical of Kentucky Fried Chicken's food. In the late 1970s he
told the Louisville Courier-Journal: My God, that gravy is horrible. They buy tap
water for 15 to 20 cents a thousand gallons and then they mix it with flour and starch
and end up with pure wallpaper paste. And I know wallpaper paste, by God, because
I've seen my mother make it. There's no nutrition in it and they ought not to be
allowed to sell it crispy recipe is nothing in the world but a damn fried doughball
stuck on some chicken. Sanders later used his stock holdings to create the Colonel
Harland Sanders Trust and Colonel Harland Sanders Charitable Organization, which
used the proceeds to aid charities and fund scholarships. His trusts continue to donate
money to groups like the Trillium Health Care Centre a wing of their building
specializes in women's and children's care and has been named after him. The Sidney,
British Columbia based foundation granted over $1,000,000 in 2007, according to its
2007 tax return.
 III. How Colonel Sanders involved in business

The Sanders Court & Caf generally served travelers, so when the route planned
in 1955 for Interstate 75 bypassed Corbin, Sanders sold his properties and traveled the
US to market his chicken concept to restaurant owners. Independent restaurant owners
would pay four cents on each chicken sold as a franchise fee, in exchange for Sanders'
"secret blend of herbs and spices", his recipe and method, and the right to advertise
using his name and likeness. In 1952 he had already successfully franchised his
chicken recipe to Pete Harman of South Salt Lake, Utah, the operator of one of the
largest restaurants in the city.
Don Anderson, a sign painter hired by Harman, coined the name "Kentucky Fried
Chicken". Sanders adopted the name because it distinguished his product from the
deep-fried "Southern fried chicken" product found in restaurants. Harman claimed
that in his first year of selling "Kentucky Fried Chicken", his restaurant sales more
than tripled, with 75 percent of the increase coming from the sale of fried chicken. In
Utah, a product from Kentucky was exotic and evoked imagery of Southern
hospitality.
As a franchise-led operation, KFC's success depended on the work of the early
franchisees, and Harman has been described as the "virtual co-founder" of the chain
by Sanders' biographer. Harman trademarked the phrase "It's finger lickin' good",
which was eventually adopted as a slogan across the entire chain. In 1957 Harman
bundled 14 pieces of chicken, five bread rolls and a pint of gravy into a cardboard
bucket, and offered it to families as "a complete meal" for US$3.50. He first test-
trialled the packaging as a favor to Sanders, who had called on behalf of
a Denver franchisee who did not know what to do with 500 cardboard buckets he had
bought from a traveling salesman.
By 1956, Sanders had six or eight franchisees, including Dave Thomas, who
eventually founded the Wendy's restaurant chain. Thomas developed the rotating red
bucket sign, was an early advocate of the take-out concept that Harman had
pioneered, and introduced a bookkeeping form that Sanders rolled out across the
entire KFC chain.Thomas sold his shares in 1968 for US$1 million, and became
regional manager for all KFC restaurants east of the Mississippi before founding
Wendy's in 1969.
In 1956, Sanders moved the company headquarters from Corbin to Shelbyville,
Kentucky, which offered superior transport links through which he could distribute
his spices, pressure cookers, take-out cartons and advertising material to franchisees.
KFC popularized chicken in the fast food industry, diversifying the market by
challenging the established dominance of the hamburger. In 1960 the company had
around 200 franchised restaurants; by 1963 this had grown to over 600, making it the
largest fast food operation in the United States. In 1963, Sanders met John Y. Brown,
Jr, a young Kentucky encyclopedia salesman, who explained that he was keen to join
the company. Sanders instead proposed the sale of the company, as business skills did
not come naturally to him, and he lacked an obvious or willing heir among his
relatives.
Lacking sufficient funds himself, Brown convinced the financier Jack C.
Massey to provide 60 percent of the acquisition capital, and provided a major
contribution himself, with smaller contributions from franchise holder Pete Harman
and company officials Lee Cummings and Harland Adams. Sanders then began to
have doubts about selling the company, as some members of his family were against
it.The group acquired the company in 1964 for US$2 million. The contract included a
lifetime salary for Sanders and the agreement that he would be the company's quality
controller and trademark.
Massey and Brown introduced standardization to the fragmented company. After
visiting Pete Harman's operations in Utah, they began to implement the stand-alone
take-out model across the entire chain. Franchisees were ordered to delist their own
menu items so that they could concentrate on KFC products. The restaurants were re-
branded with a distinctive red-and-white striped color pattern and mansard
roofs with cupolas. The roll-out of freestanding stores accelerated the company's
growth as outlets exclusively selling fried chicken proved to be more appealing to
potential franchisees.
Despite selling the company, Sanders retained significant moral authority over
executives and franchisees, and made his feelings clear when he disagreed with
corporate decisions. When Massey moved company headquarters from Kentucky
to Nashville, Tennessee, Sanders was quoted as saying, "This ain't no goddam
Tennessee Fried Chicken, no matter what some slick, silk-suited son-of-a-bitch
says". He believed that the company had reneged on their contract with him when
they opened operations in Canada, arguing that the contract had granted him the
exclusive rights to operate there. KFC was forced to renegotiate with Sanders
regarding the Canadian activities, as he owned $1.5 million worth of stock and was
using it to prevent Massey from listing the company publicly until his points of issue
were addressed. Brown and Massey claimed that Sanders only had the rights to
process chicken in Canada. After they renegotiated the contract to guarantee Sanders
exclusive rights over Canada, he sold his stock to them, and the company went public
in 1966. After going public, the company bought out its 600 franchisees, and directly
operated them itself. Later that year, Massey resigned from day-to-day management
of the company, and Brown announced that headquarters would be moved
to Louisville, Kentucky.
By 1967, KFC had become the sixth largest restaurant chain in the US by sales
volume, and 30 percent of sales were take-out. Brown felt that the company had to
expand quickly, or else emerging rivals such as Church's Chicken would steal the
company's lead; 863 outlets were opened in 1968. The company's growth pushed its
stock value to "stratospheric" levels, according to Reuters, and in 1969 it was listed on
the New York Stock Exchange. Meanwhile, KFC entered into ventures with other
companies. Brown believed that the Colonel Sanders brand could be used to market
anything, and launched the "Kentucky Roast Beef" restaurant chain, and "Colonel
Sanders Inns" motels.The two ventures quickly failed, although the roast beef chain
had 100 outlets by 1970. That same year, KFC entered a joint venture with the
California-based fish and chips chain H. Salt Esquire, which proved more successful,
but was sold off in 1980.
 Massey resigned as chairman of the company in March 1970, and Brown took
over his role. The chain had reached 3,000 outlets in 48 different countries by 1970,
but expansion was often chaotic and poorly executed. When he was promoted to
regional manager, Dave Thomas complained that the company had become too
"corporate", sent him "a lot of Mickey Mouse memos" and that Brown lacked
motivational skill. A member of KFC senior management described the international
strategy as "throwing some mud against the map on the wall, and hoping some of it
would stick." The first outlet in Japan was opened after just two weeks preparation,
and it proved to be a costly failure, losing $400,000 during its opening month and
wasting more chicken than it sold. Operational problems became clear in July 1971,
after the company reported its first ever profit loss from the prior six-month period.
 IV. Successful Characteristic of Colonel Harland Sanders

1. More Determination
Everything was looking up. On the downside, a fire wiped out his restaurant and
motel. Even though, the fire destroyed it all but he never give up. He rebuilt the motel
and made a new restaurant that was bigger than ever, seating 140 customers. The next
year, just as the United States entered into World War II, gasoline was rationed. This
knocked out the service station. It knocked out the motel because there werent many
tourists anymore due to gas rationing and the war effort. The restaurant was still doing
relatively well. He credited this to his Secret Recipe for the chicken. He also opted
to cook his chicken in a pressure fryer, which was unusual and at the time most
restaurants used pan frying. Not only did he believe this use of the pressure fryer
helped the taste, but it also sped up the cooking process. He could serve customers
more quickly. The customers were happier that they could more quickly get their
meals. He could also then serve more customers per hour by reducing the cooking
time and have a faster turnover per customer while eating at the restaurant.

2. Innovative Cooking Methods

Most people think of the Colonels Secret Recipe as the trick that makes his
chicken so fingering licking good. It was also his innovative use of the newly
emerging pressure fryer, along with lots of experimentation of variations among the
factors of cooking time, the amount of fat, the fat filtration, and other factors that
eventually got him to the end result of chicken that was just right, and in a short
amount of cooking time. He had been innovative in achieving a cooked chicken that
was not overly greasy and was not overly dry. It had moisture and contained a
pleasing finish.
The point here is that he invented a better kind of chicken, at least in terms of
how to prepare the chicken. Plus, he reduced the time required to prepare the chicken.
This was a factor not only in the success of his restaurant, but when you think forward
in time and realize that the drive-thru and take-home craze was soon to arise, having
the ability to quickly cook chicken was instrumental to the advent of consumers
craving for reasonably decent and quickly provided fast food.

3. Sharing His Innovation With Another Person

After World War II ended, Colonel Sanders continued to do pretty well with his
restaurant. He was now in his early 50s. A good friend of his lived in Salt Lake City.
The Colonel had opted to show his friend the innovative chicken-frying that was
doing so well for his own restaurant. His friend adopted the approach. Lo and behold,
the restaurant in Salt Lake City began to sell chicken like hotcakes. This is a crucial
part of the business path because up until this point, the Colonel alone was making his
special chicken. He now knew that it could be achieved by someone else, as long as
they were shown how to do so and knew the magic tricks involved.
Notice that at first it was only with someone that the Colonel believed in and
trusted. Someone that was a confidant. Someone that would take as much care about
the chicken cooking as he did. Someone that would honor the commitment to keep the
chicken cooking process a secret. The Colonel would carry that same concern for
quality into the franchising of KFC. Consumers visit fast food chains because they
come to know and expect a certain standard of quality. If the quality is low, or if the
quality is haphazard, it becomes the death knell of that business.

4. Hardworking Person
The Colonel decided to go on-the-road and sell his chicken recipe and cooking
approach. He would visit restaurants and offer to cook his chicken for them, and then
show how fast it was and how much their customers loved it. He would often sleep in
the back of his car, driving from town to town, restaurant to restaurant. He took along
some pressure cookers and bags of spices so that he could do these selling like
demonstrations at the restaurants that he visited. He usually did a handshake deal with
the owner of the restaurant that became convinced after the demonstrations that
selling the Colonels chicken would help their business. They were to pay him 4 cents
per each chicken sold that used his recipe and approach. The restaurant owner could
decide to use or not use the Colonels approach, and would only pay when they did
adopt it. This reduced any outlay by the owner and made using the Colonels approach
relatively low in risk.
Meanwhile, back in Kentucky, his now second wife would put together the spices
and ship the secret money maker to the restaurants that did the handshake deal. It is
somewhat hard to imagine in todays world doing a handshake deal like this. But, in
the 1950s, the sense of integrity was a bit different than it is today. Anyway, it was his
having shown his friend how to prepare and cook the chicken, and its success for his
friend, combined with the closing down of the restaurant in Kentucky that led the
Colonel to thinking that he could franchise his approach. He had the tenacity to do so.
He had prior experience at doing start-ups. He believed completely in his chicken and
was determined that it should become popular, in addition to hopefully making
money. Notice how these many factors of his prior business path, and this adverse
occurrence of wiping out his existing restaurant were all contributors to what
occurred.

5. Never too old to Succeed

Colonel Sanders was 75 years old before he finally sold Kentucky Fried
Chicken for a cool $2 million. Which would be around about $15 million in the world
of today. He remained as the spokesmen for the company after the sale, but 75 years
old the majority of people, at least 95% give up way earlier in life. People stop
thinking they can be successful even in their 30s and yet, the Colonel did not think
this way, and ended up being the founder and face of a billion dollar brand. So before
you start to think that you cant achieve your dreams, because youre 30, 40, 50 years
old. Youre never to old to achieve success in life.

6. The Past Doesnt Define Your Success

 An awesome success lesson that many people need to hear, is the lesson that your
past doesnt define your future success. It doesnt matter how many times youve
failed. It doesnt matter where you were brought up, or what happened to you earlier
on in life.

Your past, does not determine how successful you can become in the future.
Again, look at Sanders. Hed failed at every other career hed tried a whole bunch
of them! He was in an unhappy marriage and had 3 children at a very young age. For
most people thats when they start to quit on life, and cant see a way out.

7. Its Never too Late to Start Over

It was clear that cooking was the Colonels passion, but it wasnt discovered by
himself until later on in his life. He went through a complete range of careers, having
to start over from scratch, again, and again.
When you try to succeed at so many different things, it can become exhausting.
The start is always the hardest part, and for most people starting all over again at the
age of 50, or 60 would be unthinkable. Yet, its never too late, and Colonel
Sanders showed this by finally being successful at doing what he loved in his 70s.

8. Take a Risk on Doing What You Love

Its no secret that following your passion is the key to happiness and success. You
know it, I know it, weve heard all the stories before. And yet, the majority of us still
dont go after what we want in life, before age even comes into play. People in their
20s do not even pursue their passions a lot of the time. Maybe it takes a while for
most to realize just how important passion is; but the hope is that we help as many as
possible to pursue what they want early on.
REFERENCE

1. Col. Harland Sanders (Author) - Life As I Have Known It Has Been Finger Lickin' Good
Hardcover 1974
2. Josh Ozersky (Author)- Colonel Sanders and the American Dream (Discovering America
(University of Texas Press)) Hardcover April 15, 2012
3. L. Henry Dowell (Author) Finger Lickin' Good!: The Story of Colonel
Sanders Paperback May 2013