Local entrepreneur Charles Morgan discussed effective business with students and faculty at a luncheon in the Ferguson Center last week.
“At the end of the day it won’t be how much money you made that makes a difference,” Morgan said. “It will be how you helped people – if a business can be helpful, it will be valuable. If it is about money, then you picked the easiest way to keep score.”
Morgan, who owns Five Bar and Chuck’s Fish in Tuscaloosa, has found success in business across the country. On April 14 Morgan spoke to business students in the Heritage Room at the Ferguson Center.
“You will never hear the words ‘giving back to the community’ come out of my mouth because it is cliché,” Morgan said. “We are the community and we owe it to ourselves to make it a better place.”
After attending The University of Alabama as a college student, Morgan returned to Tuscaloosa to set up a base of operations.
“I didn’t go to business school at UA,” he said. “I don’t know anything about accounting or economics other than it’s complicated, but I have found that working in Tuscaloosa has been great, We love it here; the community as a whole tends to be full of energetic people, which has certainly made this a wonderful place both to live and to work.”
Morgan made a name for himself by using progressive business tactics that put the customer first, while placing value on the employees who make it possible.
“I love watching the young, eager people that we employ,” he said. “It nice to see kids that know what they want to do with their lives and we like to be the ones who give them the opportunity to go after that – we love to give people the opportunity to go after the American dream.”
The community is an important aspect of what Morgan attempts to accomplish through business. By using his business as a tool for uniting his customers, he is able to cater to all groups by providing an enjoyable experience.
“We have done a lot in Alabama, but one thing in particular that I am proud of is what we have done in Florida,” he said. “We fed 30,000 people in Destin at an event, people from all walks of life, and we have done that for over 20 years.”
Along with running successful businesses, Morgan has also used his prowess to help preserve businesses in small towns where the economy waivers.
“In Red Bay Florida, there is a store that was the only one in this remote location,” he said. “It closed and all of a sudden you had to drive out of your way just to get a roll of paper towels. Me and others in the community got together and reopened it and while its not making money yet, I believe it will eventually.”
Morgan emphasized on the importance of making money in relation to happiness in business.
“You have to make money in business to be successful, bottom line,” he said. “But what you do with that financial success is what is important.”
Carl Baldone, a UA business student, said he valued the knowlege Morgan presented.
“The most important thing about this talk that I liked is that not only is he an entrepreneur, but he is focused on creating jobs in the community,” Baldone said. “I think this is a good lesson for other entrepreneurs who are looking at starting a business – overall it was great.”
