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Give Your Clients A First-Class Experience, with Terry Pham

Terry Pham has been an entrepreneur for 20 years, and this year, his bubble tea and mochi donuts business is becoming a franchise. In this episode, Terry shares all that has led him to this point of success and what he predicts the future holds for him.

Here's some of what you'll learn in this episode:

  • How a lot of Terry’s entrepreneurial approaches and attitudes come from being “a latchkey kid.”
  • Why Terry long resisted the idea of his company franchising.
  • How joining The Strategic Coach® Program has been a transformational experience.
  • The inspiration Terry gained from seeing his mother work in a convenience store.
  • How Terry gets past his biggest limiter—himself.

Show Notes:

In a new situation, you can learn a lot by figuring out how you can adapt instead of just sitting and waiting for it to be over.

When you have something, you franchise it. That’s the American story.

Hospitality is about how you make people feel.

Focusing on hospitality means thinking about guests’ needs before they know what their needs are.

Even more important than thinking tools is unlocking the way you think about things.

Big problems are easier to deal with if you break them down into smaller pieces.

The first few years of a new project might only be about figuring it out. If you can reframe your thinking and approach problems differently, there are going to be breakthroughs.

Loved ones can provide you with the confidence to pursue your goals.

Customers will go out of their way for excellent hospitality.

If you haven’t truly experienced hardship and struggle, you may over-amplify the magnitude of what your problems really are.

Episode Transcript:
Dan Sullivan: Hi, this is Dan Sullivan and I'd like to welcome you to the Multiplier Mindset podcast. Hi, it's Dan here, and it's a great treat to introduce an example of one of my favorite subjects, and that is immigrants who come to the United States and they become entrepreneurs.
This is Terry Pham, and Terry has a fast-food business in the Dallas area, and he is going to tell a story about his plans for expansion. He expanded in a very, very interesting way during COVID, when there was lockdown and people couldn't come to the restaurant. He talked about how they took the restaurant to the people, and it gave him an idea of expanding even further than his original restaurants in the Dallas area. And now, he's going through the process of translating his Dallas idea into a franchise that can go regionally and nationally. It's the American story, this is what you do when you have something, you franchise it.
Terry Pham: My name's Terry Pham. I'm one of the co-founders and CEO of Fat Straws Boba & Mochi Donuts. So, we have a bubble tea and mochi donut brand here in Dallas; we've been around for 20 years, we have five locations. So, my wife and I have started that; we started that six months after we got married, which I thought was a great idea, for some reason. I've been an entrepreneur for 20 years.
We're actually getting ready to franchise, so we're going through that process this year, which is going to really speed up our growth process. So, it's very exciting, but a big shift in what we've been doing. It's been interesting, because I think I've shied away from it for many years because I didn't really see franchising as an opportunity for others. And that's really our company's core focus, is around building relationships to create opportunity for others and make impact in people's lives.