John Schnatter must be doing something right: He’s founder and CEO of a $2.2 billion pizza megachain. So when the Papa John's magnate offers tips for building a profitable pizzeria, it’s probably a good idea to listen. In a recent interview with Business Insider, Schnatter listed the five key ingredients of his success.
Our favorite is no. 3: Failure. It’s OK to make mistakes, Schnatter said, offering the example of a Sweet Chili Chicken specialty pizza that he thought would be a huge hit on his menu. “Boy, were we wrong,” he added. “We were left with a massive surplus of Sweet Chili Chicken sauce.” But instead of throwing it out, they developed a new menu item that proved to be every bit the bestseller that they’d expected the specialty pizza to be: Sweet Chili Chicken Wings. The story proves “that even in the face of failure, a successful option is somewhere to be found,” he said. “But you can’t be afraid of failure.”