Friday, May 16, 2008

Tom Monaghan, founder of Domino's Pizza, has had at least a hundred "excuses" for failing in business - he started a business with no business sense, he expanded too soon, went broke, lost everything, built it back up, and almost lost everything again. But what's incredible about Tom Monaghan is that he's never given up.

After working 16 to 18 hours a day, 7 days a week for 10 years, he lost control of his company in order not to have to file bankruptcy. The new management team kept him on as president, but with no authority, because they couldn't find anyone willing to work those types of hours for only $200/week. Overnight, Tom went from CEO of Domino's Pizza to the manager of 12 corporate stores. He visited each store driving a rusted out, beat up Rambler, sleeping in his car to keep expenses down. After ten months of this arrangement, the new management decided Domino's had no future and agreed to give Tom his stock in return for just one of the Domino's franchises.

With Tom back in control of Domino's, it took him 6 long years to rebuild his business, paying off every last creditor. And today Domino's is a billion dollar organization.

Tom's story proves that you can reach the pinnacle of success despite having a difficult childhood, the skimpiest of financial resources, and little more than a high school education. Like him, you may feel you have every reason to make excuses, to fail, to quit. But "quit" wasn't in Tom Monaghan's vocabulary. "Persistence" is.

And persistence is what will make you unstoppable.


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