Applications for my 7 Millionaires … In Training! ‘grand experiment’ are now closed. I will be announcing the Final 30 Applicants this Thursday at 8pm CST on my Live Chat Show … if you want to follow along, I will also be announcing the next Millionaire Challenge! This will help me decide the Final 15 … now for today’s post:
It seems that blogging and personal finance is a ‘young man’s game’ …
… not so!
At least, not according to Lee, who was yesterday’s Featured Applicant for my new 7 Millionaires … In Training! ‘experiment’.
Lee is a ‘tad’ older than me 🙂 and is an e-mailer, emoticon’er, and … a blogger. Go Lee!
Whether Lee joins our program from the front-lines or the side-lines, he will succeed because age is NO impediment.
Here are two related stories:
1. There’s an old ‘urban myth’ that says that a retired ‘colonel’ with no money and no prospects at the age of 70 left for a journey across the USA, living out of his car! All he had was an old family recipe for chicken that he wanted to ‘licence’ to restaurants. 1,000 restaurants and 2 years later, all he had was a trunk-full of “no, thanks!”.
Then restaurant number 1,001 said “yes!” … and, that’s how Colonel Sanders came to launch Kentucky Fried Chicken (now, KFC) … or so the story goes!
His actual story is a little less ‘dramatic’, but I really feel epitomises the path that people like Lee need to (and, can) take: ‘The Colonel’ actually started at the age of 40, cooking chicken dishes for people who stopped at his little gas-station in Kentucky.
At the time (he wasn’t a ‘Colonel’ yet) he did not have a restaurant, so he served customers in his apartment at the gas station!
Eventually, his local popularity grew, and Sanders moved to a motel/restaurant that seated 142 people where he just worked as the cook. Over the next nine years, he perfected his method of cooking chicken. Furthermore, he pioneered the use of a pressure-fryer that allowed the chicken to be cooked much faster than by pan-frying.
He was given the honorary title “Kentucky Colonel” in 1935 by the Kentucky State Governor. Ever the ‘salesman’, Sanders started to call himself “Colonel”, even dressing in the stereotypical “Southern gentleman” outfit that we are now used to seeing; he was the consumate marketer!
After the construction of a major highway bypassing his town reduced the restaurant’s business, Sanders had to leave so he took to franchising Kentucky Fried Chicken restaurants, starting at age 65, using $105.00 from his first Social Security check to fund visits to potential franchisees.
To me, that’s the real story: a 65 year-old fry-cook funding a franchise from Social Security!
2. The second story is a little more personal … highlighting the moment when I can remember being most proud of my own father.
It was my 30th Birthday and my father was at my Surprise Party (I am so thick, I didn’t notice all the cars on the street, the late arrivals hiding behind the trees, or even the balloons when I walked in … boy, was I surprised!) happy as a Dad can be.
The next day he told me that it was on the day of my party that he had been fired from his job – what made it worse was that he had been ‘stabbed in the back’: it was a finance company that he helped start for a ‘friend’, who (once my father had done all the hard work to get the company up and running with a solid book of business) reneg’ed on their deal to pay my father a 33% profit share.
Just two weeks later, at the age of 60, my father had found an ‘angel’ for seed funding and a bank for the major funding and was off and running … a feat that I was (fortunately) able to repeat just a few, short years later (and, unfortunately that I HAD to repeat … but, that’s another story).
Lee, age is NEVER an obstacle …