The possibilities are endless when you have an education: What the founder of Wendy’s can teach us about lifelong learning
Dave Thomas, the founder of Wendy’s, became an extremely wealthy man, and his advice on success remains as relevant today as it was back when he got started all those years ago:
“What do you need to start a business? Three simple things: know your product better than anyone, know your customer, and have a burning desire to succeed.”
In short, product, audience, and execution.
Thomas’ maxim above bears an uncanny similarity to a widely-circulated quote from “super angel investor” Dave McClure (co-founder, 500 Startups):
“A ‘startup’ is a company that is confused about — 1. What its product is. 2. Who its customers are. 3. How to make money.”
Tonally, it’s a very different statement than that made by Mr. Thomas, but the lesson is ultimately the same. Success is all about product, audience, and execution.
Now, here’s an interesting thought — what would happen if, instead of applying the lesson to an entrepreneurial venture, you applied it to your own learning and career journey? Would the advice apply? And more importantly, would it help?
Let’s have a little theoretical fun, and try to find out!
Product, Audience, and Execution
First, product. In this equation, that’s me. I’m what I need to create, and then sell, to the extent that I become a successful and profitable thing. Because at a basic level, that’s kind of what getting a job is, right? I have to convince someone else to “buy” me; which is to say, give me money in exchange for a return of value.
So, if I take Dave Thomas’ advice, the first step to embarking on a successful learning path — and ultimately establishing a successful career — is to know myself. Put another way (to borrow some product parlance), I need to know and establish my own “value proposition.”
Next, I need to know my customer, or my “audience.” In this model, the customer is the employer. That’s who “buys” me. So I need to know what they want, and I need to make sure my value prop aligns.
Finally, I have to want to succeed; or, per Dave McClure, I need to know how to make money. I have to execute on my knowledge of myself and my audience to get results. If I translate this into learning and career language, I have to want to get the job, I have to actually get the job, and I have to get a good job — one that will earn me a salary that exceeds my outlay, so that I ultimately make a “profit” in life.
To summarize, I have to become what companies want, and I have to find the companies that want what I have. And then I need to work really hard to ensure that a company hires me, and pays me enough to where I can get ahead in life.
Skills-Based Learning
It’s not too much of a stretch to say that this is kind of what skills-based learning is all about. To become our most valuable selves from a career standpoint, we need to first be honest and self-aware about our strengths and our shortcomings. Then, we need to address our shortcomings by mastering new, in-demand skills. Once we’ve added those valued skills, we need to successfully market ourselves to employers, and convince them of our value. And finally, to succeed, we have to pursue all the above with the full fire of our convictions, and the full measure of our efforts. We must have a burning desire to learn, to get hired, and to get ahead.
This is all obviously a distinctly two-dimensional way of looking at learning and career development, and there is of course so much more to establishing a meaningful and successful career than simply commodifying and selling oneself. Even Dave Thomas knew there was more to life than just selling a product and making money. The fact that he was a high school dropout was something that still concerned him 20 years after opening his first Wendy’s (as described in this article from the New York Times):
Mr. Thomas said his greatest regret was not finishing high school. In 1993, he hired a tutor and passed the G.E.D. exam. Coconut Creek High School in Fort Lauderdale made him part of its senior class. He was awarded his high school diploma, and he and his wife were king and queen of the senior prom.
He was voted ‘’Most Likely to Succeed.’’
Research and hard work are how success happens
There is something to be said for taking Mr. Thomas’ advice (or Mr. McClure’s, if you prefer!) when it comes to managing your learning and career goals. Being honest about your existing skills is the first step towards pursuing new skills. And knowing what skills are both valued and valuable will inform your decisions about what to learn, where to learn, and how to learn. And gaining insight into what employers are looking for will ultimately enable you to successfully become the best candidate for the role. It all boils down to a lot of research and hard work, but it’s how success happens.
Here’s another Dave Thomas quote:
“Believe in your dream. People may tell you that you won’t make it, that you’re wasting your time. If you keep your dream in mind, have done your research and are willing to work hard, you can make it come true.”
Dave Thomas knew how important learning was. He was wildly successful, yet he stayed humble, and he revered education:
“Get all the education you can. Who knows what more I could have achieved if I’d stayed in school and went to college? The possibilities are endless when you have an education.”
And that right there is the real takeaway: The possibilities are endless when you have an education. Spoken like a true lifelong learner.
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This post was written by Christopher Watkins, Senior Writer and Chief Words Officer, Udacity
