5 ideas you can learn from Ray Kroc: The Founder of McDonald's

#10・
7.96K

subscribers

20

issues

Subscribe to our newsletter

By subscribing, you agree with Revue’s Terms of Service and Privacy Policy and understand that Founders Podcast will receive your email address.

5 ideas you can learn from Ray Kroc: The Founder of McDonald's
By Founders Podcast • Issue #10 • View online

Founders Podcast
The latest Founders Podcast is on the life of Ray Kroc based on the book Grinding It Out: The Making of McDonald’s. By listening to this podcast you will learn Ray Kroc’s philosophy of “grinding it out”, how he made a living the first 52 years of his life, how those experiences prepared him to succeed with McDonald’s, the idea that enabled him to create the McDonald’s franchise system, his management style, his unique ideas on how to run a company and much more. You can listen to the full episode here
You can also subscribe to the Founders Podcast on iTunes or at FoundersPodcast.com.
Here are some quotes from the book that I found valuable:
Decentralized hierarchy > Centralized hierarchy
I maintained that authority should go with a job. Some wrong decisions may be made as a result, but that’s the only way you can encourage strong people to grow in an organization. 
Sit on them and they will be stifled.
Persistence is mandatory
The key element in individual success is not knack or education: it’s determination. This is expressed in my favorite homily: 
PRESS ON: Nothing in the world can take the place of persistence. Talent will not; nothing is more common than unsuccessful men with talent. Genius will not; unrewarded genius is almost a proverb. Education will not; the world is full of educated derelicts. Persistence and determination alone are omnipotent.
Details over grand design
There is a certain kind of mind that conceives new ideas as complete systems with all of their parts functioning. I don’t think in that “grand design” pattern. 
I work from the part to the whole, and I don’t move on to the large scale ideas until I have perfected the details. To me this is a much more flexible approach. 
I emphasize the importance of details. You must perfect every fundamental of your business if you expect it to perform well.
Make every detail perfect and limit the number of details to perfect
It was a restaurant stripped down to the minimum in service and menu, the prototype for legions of fast-food units that later spread across the land. The simplicity of the procedure allowed them to concentrate on quality in every step, and that was the trick.
How you do one thing is how you do all things
I proceeded on the strength of my salesman’s instinct and my subjective assessment of people. I have often been asked to explain the methods I use in choosing executives. My answers aren’t very satisfying; they don’t sound much different than the rules that students of business administration find in their basic textbooks. 
It’s hard to come up with real answers because the weight of the judgement is not in the rule but in the application. As a result, I have sometimes been accused of being arbitrary. 
It was believed that I once fired a member of our staff because he didn’t wear the right kind of hat and didn’t keep his shoes shined. I didn’t like those things things about the man, but those weren’t the reasons I fired him. 
I just knew that he wasn’t right for us; he was prone to making mistakes, and the hat and the shoes were merely symptoms of his sloppy way of thinking.
Learn More
Become a patron
Founders is ad free and independent due to patron support. Patrons receive exclusive access to patron only episodes (every other episode published is for patrons only). Patrons also get EVERY episode early. It is the best way to learn more about entrepreneurship. Your support helps me create more podcasts on history’s greatest entrepreneurs. Become a patron here.
Thanks for reading. I will be back next week with another email and podcast on one of history’s greatest entrepreneurs.
David
Did you enjoy this issue?
Founders Podcast

A podcast about history's greatest entrepreneurs.

In order to unsubscribe, click here.
If you were forwarded this newsletter and you like it, you can subscribe here.
Powered by Revue