Friday, November 26, 2010

Ray Kroc

-founder of Mcdonalds
-as a child was very ambitious. He also liked to sweep
-wouldnt take no for an answer. if he had an idea there was always a way to make his idea possible
-was a pitcher for his school baseball team
-alive during WWI
-joined the red cross ambulance crew thingy
-his father would not give him permission to marry until he was fully employed
-ray was a born salesman
-clean freak
-sold paper cups for 18 years.. his commisions provided a good life style... but it was affecting his relationship because he was so busy
-1939, became interested in the milkshake mixer
-at 37, he left his job at the papercup place and began to sell the "multi-mixer"
-after the war they closed their driveway and reinvented it. they made a larger store. it went from car service to self service. they changed their condement dispensers so each burger would be the same. they got larger grills and other appliances to speed things up. they went from 15 menu items to 9 menu items.
-after the changes sales went up by 33%
-less is more... do less but do it excellently and consistantly
-at 52 years old, he first heard about Mcdonalds... its interesting how he is still looking for new opportunities at the age where most are looking to retire.
-made sure that he set a statement for all his employees. was always setting an example
-after started up 18 stores, he was not financially successful so he bagan to rent real estate
-1961, he ended his 39 year marriage with ethal and went for jones. jone decided she couldnt leave her husband. he was heartbroken.
-a year later he met another woman. after 2 weeks of dating he married her.
-1958-1961, he opened over 200 new restaurants
-also owned a foundation for medical research and a baseball team.
-tried desperately to turn his baseball team around, who were a losing team
-his last shining moment: driving around in a convertable on his birthday at the beginning of a baseball game.
-Died of heart failure

Key Learning: it's important to set an example for your employees. For example, don't walk past garbage without picking it up.

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