In this video, Rashad Bilal and Troy Millings are joined by special guest Derrick Hayes, the founder and owner of Big Dave’s sandwich shop. The conversation revolves around the challenges of managing a large number of employees and maintaining a positive culture within the organization.
Derrick Hayes reveals that Big Dave’s employs between 130 and 140 individuals, which is certainly a significant number. He acknowledges that managing this many employees can be difficult but emphasizes the importance of having a strong team. Hayes credits his core employees, who have been with him for five or six years, for setting the foundation of the company’s culture. He believes that the people you bring into your organization and how you treat them is crucial in establishing a positive work environment.
One key aspect of maintaining a strong culture at Big Dave’s is providing ownership to the core employees. Hayes explains that he has given them Phantom Equity, ensuring that they have a stake in the company’s success. This creates a sense of empowerment and dedication among his employees, as they have something to look forward to and work towards. The impact of this approach is evident in the lives of many employees who have been able to buy houses and cars, even those who were previously homeless. Hayes takes pride in being able to offer careers, rather than just jobs, to his team.
To ensure effective communication and alignment within the organization, Hayes holds regular meetings. Every Monday, he has a call with his corporate team, and throughout the week, he connects with different teams, such as the operations, president, and franchise teams. Despite having distinct roles, all these teams work together as a family to achieve the company’s goals and maintain the desired culture.
The personal significance of Big Dave’s to Derrick Hayes cannot be overstated. He vividly recalls driving with his baby daughter, envisioning a future where Big Dave’s would be synonymous with success. He believes in the power of his business to impact the lives of kids who might be seen as stereotypes or unlikely to succeed.
Hayes shares his personal journey and the challenges he has faced. He emphasizes the importance of not dwellling on losses but rather recognizing them as temporary pauses that can lead to growth and improvement. He speaks passionately about always striving to do better and appreciating the value of hard work and challenges.
When asked about the future of Big Dave’s, Hayes confidently declares that he envisions the company being worth a billion dollars in no time. His determination and belief in his vision shine through as he emphasizes that losing is only an option when you allow it to be.
In this inspiring conversation, Derrick Hayes demonstrates the importance of having a strong team, instilling a positive culture, and never losing sight of your goals. The story of Big Dave’s is not just about sandwiches and business success; it is about creating opportunities and changing lives.
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