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Inspiration from Ray Kroc

Estimated Lesson Time: 2 minutes

Raymond Albert Kroc (1902-1984) was the founder of the McDonald’s Corporation; the company that changed the eating habits of the world (for better or worse).

Success is often a result of a decision made in the past. Approximately 17 years prior to founding McDonald’s Corporation, Ray Kroc mortgaged his home and invested his life savings in a product called the “Multimixer” in which he strongly believed. It was because of this product he came across the McDonald brothers’ hamburger chain and became a partner.

Success is knowing that your best years are still ahead of you, despite your age or current problems. Said Ray Kroc about the time he started McDonald’s Corporation, “I was 52 years old. I had diabetes and incipient arthritis. I had lost my gall bladder and most of my thyroid gland in earlier campaigns, but I was convinced that the best was ahead of me.”

Success is changing your goals when needed and acting on opportunity. Ray Kroc’s initial intention was to open up additional stores for Dick and Mac McDonald so he could send eight of his Multimixers to each store. That goal quickly was abandoned when Ray realized the opportunity he had with franchising these hamburger restaurants.

Success is taking calculated risks. In 1961, Ray bought out the McDonald brothers for $2.7 million cash, using borrowed money, which with the interest, eventually cost him $14 million. As time proved, this was still one of the century’s greatest bargains.

Success is being dedicated to strict standards. Ray was committed to providing customers with consistent quality, service, cleanliness, and value.

Success is not about the money. “If you work just for money, you’ll never make it,” Ray Kroc said, “but if you love what you’re doing and you always put the customer first, success will be yours.”

Success is leadership. Under Ray Kroc’s leadership, McDonald’s® set standards against which other chains were measured.

Success is spotting trends. Perhaps Ray Kroc’s greatest asset was the ability to spot trends. He knew almost instinctively that the fast food, eat-and-run craze would only continue to grow as Americans, and other people in the world adapted to a more hectic lifestyle.

Success is being an expert salesperson. Ray Kroc was best known as a master salesperson. It was with his sales skills that he transformed a small chain of eight restaurants into perhaps the largest, most well-known franchise in the world.

[Sources: http://www.media.mcdonalds.com, http://www.biography.com]


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