00:00:02another edition of modeling the masters
00:00:04today we are going to look at the
00:00:05Builder of one of the most recognized
00:00:07companies of all time ray Croft from
00:00:10McDonald’s Raymond Albert Kroc was a
00:00:19Czech American businessman who took over
00:00:20the small-scale McDonald’s Corporation
00:00:22franchise in 1954 and built it into the
00:00:25most successful fast-food operation in
00:00:27the world Kroc was included in time 100
00:00:30the most important people of the century
00:00:31and amassed a 500 million dollar fortune
00:00:35during his lifetime he was also the
00:00:37owner of the San Diego Padres baseball
00:00:39team started in 1974
00:00:41Ray Kroc began his career selling paper
00:00:43cups for the Lille tulip cup it was in
00:00:46the course of selling paper cups that
00:00:48crock would meet oral prints crock had
00:00:51noticed prints after he began buying
00:00:52lily cups by the truckload for product
00:00:55that he had recently invented a 5
00:00:57spindle milkshake mixer crock saw big
00:01:00opportunities in the milkshake mixer and
00:01:02bought the exclusive marketing rights to
00:01:03the product over the next 17 years crock
00:01:06would travel across America selling it
00:01:09when he receives an order for eight
00:01:11milkshake mixers from brothers dick and
00:01:13Mac McDonald in California he had to go
00:01:16out to see them the McDonald brothers
00:01:18had focused on just a few menu items
00:01:20hamburgers cheeseburgers french fries
00:01:22soft drinks and milkshakes Kroc was
00:01:25impressed with the efficiency and the
00:01:27popularity of the restaurant and saw his
00:01:29next business opportunity with them in
00:01:31one of the greatest success stories of
00:01:33all time Kroc took a small but
00:01:35successful california-based hamburger
00:01:37restaurant and expanded it into what
00:01:39today is a worldwide chain of 400,000
00:01:42employees 22 billion dollars in revenue
00:01:45and a logo that has come to become
00:01:47globally recognized more than the
00:01:50Christian cross so the next question
00:01:52becomes how can you model the success of
00:01:54Ray Kroc here are three action items
00:01:57that you can put to use in your business
00:01:58today action item number one always be
00:02:02on the lookout for opportunities most
00:02:05entrepreneurs don’t end up being
00:02:06successful with the product or service
00:02:08that they start with there are always
00:02:09tweaks and changes that will happen once
00:02:12you start talking to customers
00:02:13they tell you what they want your
00:02:15prospects and customers will lead you to
00:02:17many potential opportunities to grow
00:02:18your business the key is to jump on
00:02:21those opportunities and take action in
00:02:23ray crocks own words the two most
00:02:25important requirements for major success
00:02:27are first being in the right place at
00:02:29the right time and second doing
00:02:32something about it
00:02:32Kroc started out as a salesman for paper
00:02:35cups and his customers twice brought him
00:02:37to new business opportunities that he
00:02:39acted on sometimes this can mean selling
00:02:41a completely different product or
00:02:43service and your offering before look at
00:02:45your current customers are there hidden
00:02:47business opportunities you can develop
00:02:48with them or improvements to what you’re
00:02:50currently selling that can bring more
00:02:52value to them and put more money in your
00:02:54bank account if you’re always going to
00:02:56look out for new opportunities to grow
00:02:57your business you’ll eventually find the
00:02:59one you can hit a home run with
00:03:02action item number two you’re only as
00:03:05good as the people you hire as your
00:03:07business grows beyond yourself you
00:03:08realize the importance of having a good
00:03:10team they are the ones representing your
00:03:13company making decisions every day and
00:03:15talking to your customers having a good
00:03:17staff will make or break your ability to
00:03:19build a successful company beyond
00:03:20yourself to make sure he had the best
00:03:23team possible in the early stages of the
00:03:25business
00:03:25Ray Kroc personally took charge of the
00:03:28entire hiring process once he had made
00:03:30the decision to bring someone on board
00:03:32the McDonald’s team Kwok wicked each and
00:03:34every one of them a badge with the title
00:03:36of Management Trainee
00:03:37it didn’t matter what their actual job
00:03:39was Kroc wanted every employee to feel
00:03:42valuable and like an important part of
00:03:44his team Kroc would then tell his
00:03:46workers to think of better ways to do
00:03:48their job or any improvements that could
00:03:50in his in customer service which could
00:03:52then be written down and placed into a
00:03:54suggestion box the suggestion box led to
00:03:56countless successes like the Happy Meal
00:03:58filet-o-fish Big Mac hot apple pie and
00:04:01Egg McMuffin when you hire a new
00:04:04employee make them feel like they’re
00:04:05important part of your team encourage
00:04:07their suggestions on how the business
00:04:09could be run better create opportunities
00:04:12for them to advance and let them know
00:04:13that you value their contributions a
00:04:15loyal and hardworking team will reward
00:04:18you with outstanding business results
00:04:21action item number three be a part of
00:04:24your community whatever community you
00:04:26sell to make sure you take part in
00:04:27building that community base and making
00:04:29it stronger these are the people who
00:04:31continue to buy from you and the more
00:04:33successful they are the more successful
00:04:35you will be
00:04:36Ray Kroc launched a number of
00:04:38initiatives to help build the
00:04:39communities around each McDonald’s
00:04:40restaurant first off he insisted that
00:04:43his franchise operators lived in the
00:04:45communities where they worked he also
00:04:47hired regional advertising agencies so
00:04:49they could work on the ground and
00:04:50organize grand openings birthday parties
00:04:53and community programs
00:04:54finally he believed in community
00:04:56involvement through charities and the
00:04:57company continues to give back to this
00:04:59day as part of its corporate philosophy
00:05:01you don’t have to run a restaurant to be
00:05:03involved in your community just think
00:05:05about the people you sell to and where
00:05:06they hang out how can you get involved
00:05:09in making their lives easier and better
00:05:10it’s a longer term strategy but
00:05:12extremely profitable if you can win the
00:05:14hearts and minds of your
00:05:15stammers by giving back so remember
00:05:19always be on the lookout for
00:05:20opportunities you’re only as good as the
00:05:22people you hire and be a part of your
00:05:25community to finish off the video I
00:05:27wanted to share one of my favorite true
00:05:29stories about Ray Kroc when Kroc was
00:05:32just four years old his father took him
00:05:34to a phrenologist to try to have his
00:05:36future determined based on the shape of
00:05:38his head
00:05:39here the young Kroc was told that he
00:05:41would be best suited to having a career
00:05:43in the fast food industry nearly 50
00:05:45years later he would fulfill the
00:05:47prediction thank you for joining me for
00:05:50another edition of modeling the masters
00:05:51I hope you enjoy I’d love to hear your
00:05:54feedback if you want to leave a comment
00:05:55below and stay tuned to the next episode
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