๐ DAILY BOOK SUMMARIES ๐ ๐ DIRECT FREE E-BOOK DOWNLOAD LINK AVAILABLE โ https://drive.google.com/file/d/1zevdhKI4kSkk3m1afDqi2GkXl6LrY5O0/view?usp=drivesdk ๐ฅ Grinding it out : Making of McD ๐ฅ ๐ 16 Lessons From ๐ โจ Ray Kroc โจ 1. Early Career: โข Ray Kroc worked as a paper cup and milkshake machine salesman. โข Developed a strong work ethic and sales skills. 2. Discovery of McDonald Brothers: โข Found the McDonald brothersโ efficient restaurant in San Bernardino, California. โข Saw potential in their model for fast service and consistency. 3. Franchising Vision: โข Persuaded the McDonald brothers to allow him to franchise their business. โข Focused on expanding the brand across the country with uniform standards. 4. Challenges with the McDonald Brothers: โข Faced disagreements over growth strategies. โข Bought out the brothers in 1961 for $2.7 million to gain full control. 5. Emphasis on Consistency and Quality: โข Strict standards for product quality, cleanliness, and service at all locations. โข Ensured customer experience was the same everywhere. 6. Franchise Model: โข Established Hamburger University to train franchisees. โข Enforced uniform operational standards across franchises. 7. Real Estate Strategy: โข Created Franchise Realty Corporation, owning the land and leasing it to franchisees. โข Secured revenue and control over franchise locations. 8. Expansion and Innovation: โข Rapid U.S. and international growth. โข Introduced popular menu items like the Big Mac and Egg McMuffin. 9. People First Philosophy: โข Valued customers and employees, emphasizing loyalty and opportunity. โข Fostered a positive work environment for growth. 10. Philanthropy and Later Years: โข Focused on charity work, particularly in healthcare and education after stepping down. โข Continued to influence McDonaldโs until his death. 11. Early Business Failures: โข Kroc had multiple business ventures before McDonald's that didnโt succeed, such as a music-related business and a failed restaurant attempt, demonstrating his persistence despite setbacks. 12. Focus on Speed and Efficiency: โข Kroc was captivated by the "Speedee Service System" created by the McDonald brothers, which allowed them to serve food quickly and consistently. 13. Marketing and Branding: โข Kroc emphasized strong branding from the start, ensuring the golden arches became an iconic symbol. He understood the importance of marketing McDonaldโs as a family-friendly restaurant. 14. Partnership with Harry Sonneborn: โข Harry Sonneborn, Krocโs financial advisor, played a critical role in devising the real estate model that became the backbone of McDonaldโs financial success. 15. Commitment to Franchising Over Corporate-Owned Stores: โข Kroc believed franchising, rather than opening corporate-owned stores, was the best way to scale quickly while maintaining operational control.
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