The Recipe for Success in Business from Glen W. Bell Jr Founder of Taco Bell
Sadly Glen Bell Jr, the founder of Taco Bell, passed away January 16, 2010 at the age of 86. For those of you unfamiliar with Bell, and his business successes – consider this.
Bell first sold tacos for 19 cents in San Bernardino in 1951, and he built Taco Bell from one stand in 1962 to a $125-million business when he sold it in 1978.
In reading about Bell’s life, and his outlook on doing business, I ran across his Three Rules for Success – or as he called it “”recipes for success”. Growing a business from one taco stand to a $125 million dollar company – I want the recipe, and thought you would too!
Glen Bell Jr’s Recipe for Success in Business
Here are Glen’s top three rules for growing a successful business, with my thoughts on how we can use them to grow our businesses.
You Build a Business One Customer at a Time
Every customer counts. Too often we get caught up in the idea of growth, or scaling our business and forget that it really happens one person at a time.
Considering the velocity of word of mouth these days as opposed to Bells time has the ability to grow or destroy a business much quicker than when Bell was selling his first tacos.
Satisfy the individuals and eventually your business will satisfy the masses.
Find the Right Product, Then Find a Way to Mass-Produce It
The right product for any business is one that there is a need or perceived need for. The greater the need, the larger your business can become. Don’t confuse a need with a necessity. A $4 cup of coffee isn’t a necessity, but Starbucks has me believing I need it.
Once you confirmed the need within your market, your only obstacle to growth is finding a way to scale up – effectively, and efficiently.
This is probably the toughest point in a young businesses life – scaling too fast or two slow can lead to at best sub par results, and at worst disaster.
An Innovative Product Will Set You Apart.
This could be a product or service, the important piece is differentiation. Why should customers buy from you, what sets up apart from the competition?. And what will keep your competitive advantage into the future?
Conclusion
There is no debating the success of Glen Bell Jr, or the continued success of the Taco Bell brand.
The “recipe” is simple when put down on paper, and while few businesses may never reach the level of success of Taco Bell they can become better and more successful by remembering Glen’s rules.
Your Turn
Would you add anything to Glen’s rules? Let us know in the comments below.
Good post and gives some insight from a successful business owner. I would add being consistent. If a small business owner could master the 3 rules and made a commitment to consistently work on them, it is a recipe for success. I was going to say give great information but that would fall under rule 3 I think. This post is getting me thinking about what my rules are. I look forward to reading some other comments on this. It is a good time of the year to rethink what your business is all about.