Reading Reflection 1
I read “Grinding It Out” by Ray Kroc. I think what surprised me the most was that he made his fortune not necessarily on fifteen cent hamburgers but by monopolizing on real estate. I was also surprised that the business idea really wasn’t his originally. The fact the business had already been established and he just franchised what was already made was surprising.
I admired his drive. He was constantly working to succeed. I also admired that he was brash and wasn’t afraid to go out and ask for what he wanted. I really admired that even when faced with difficulties he did not back down and continued to strive.
The thing I admired the least was his view of marriage. It seemed as he saw his thirty-year marriage as disposable when he started to make money and saw a pretty face. The fact he wanted to marry a married woman while he was married I found a little unnerving.
He encountered a lot of failure through the process before and during establishing the McDonalds empire. Instead of giving up he worked through it and found a way. For instance, in Sarasota Florida they came across a law where they couldn’t have milkshakes and hamburgers made in the same room. So instead of rearchitecting the entire building they build a glass partition that would comply with the standards. He was constantly working to make his business better even in the face of obstacles. He spoke about no matter how tough things got he tried not to focus on the problems and still get rest at night.
I think he really utilized his previous experiences in sales and the food industry to really drive his project with McDonalds. He was constantly open minded in looking for the next best thing and didn’t get stuck in a rut. He was very optimistic and really a go getter.
Some parts of the reading got a bit confusing when he started talking about extensive ways of cooks and food preparation and service. I have not worked in the food service industry so some of the detailed information came across as confusing. Also, one of the contracts he negotiated to borrow money and they payback plan was not very clear.
I think he would have excellent insight through his experiences that would help a new business owner prosper.
2. If you could have built any other business like you did McDonalds what would it have been?
I would like to see if McDonalds would not have been his business what might be a household name now if he had pursued a different path.
I think his opinion of hard work was utilizing every hour and every opportunity that comes your way. I think his idea is seeing how far you can push and striving everyday to succeed. I share a similar opinion. I think it is the daily habits and succeeding in little goals that lead to the bigger long-term goals. He says in his book that many people see him as an overnight success, yet it was thirty years before he got his big break, that is a long overnight.
I admired his drive. He was constantly working to succeed. I also admired that he was brash and wasn’t afraid to go out and ask for what he wanted. I really admired that even when faced with difficulties he did not back down and continued to strive.
The thing I admired the least was his view of marriage. It seemed as he saw his thirty-year marriage as disposable when he started to make money and saw a pretty face. The fact he wanted to marry a married woman while he was married I found a little unnerving.
He encountered a lot of failure through the process before and during establishing the McDonalds empire. Instead of giving up he worked through it and found a way. For instance, in Sarasota Florida they came across a law where they couldn’t have milkshakes and hamburgers made in the same room. So instead of rearchitecting the entire building they build a glass partition that would comply with the standards. He was constantly working to make his business better even in the face of obstacles. He spoke about no matter how tough things got he tried not to focus on the problems and still get rest at night.
I think he really utilized his previous experiences in sales and the food industry to really drive his project with McDonalds. He was constantly open minded in looking for the next best thing and didn’t get stuck in a rut. He was very optimistic and really a go getter.
Some parts of the reading got a bit confusing when he started talking about extensive ways of cooks and food preparation and service. I have not worked in the food service industry so some of the detailed information came across as confusing. Also, one of the contracts he negotiated to borrow money and they payback plan was not very clear.
If I had to ask two questions they would be:
1. What advice would you give someone starting a new business?
2. If you could have built any other business like you did McDonalds what would it have been?
I would like to see if McDonalds would not have been his business what might be a household name now if he had pursued a different path.
I think his opinion of hard work was utilizing every hour and every opportunity that comes your way. I think his idea is seeing how far you can push and striving everyday to succeed. I share a similar opinion. I think it is the daily habits and succeeding in little goals that lead to the bigger long-term goals. He says in his book that many people see him as an overnight success, yet it was thirty years before he got his big break, that is a long overnight.
I also chose Ray Croc's book since McDonald's has become synonymous with America and they are the largest restaurant chain by revenue and second largest by locations (Subway beats them by nearly 6,000 believe or not). I'm not really a fan of their food, but I love their coffee and their McGriddle is very good.
ReplyDeleteI think Kroc's may years as a salesman as well as a his great work ethic and eye for business opportunities were the key to his success. I think he was just a natural businessman.
I personally do not eat at McDonalds so I am not too well versed on their history or the creator. I did not know that the Ray Croc was able to monopolize on real estate. I was always under the assumption that he made his money from burgers and fast food service. I like that you touched on how he did not give up in his endeavors, I think that it really showcases the entrepreneur mindset that enabled him to be successful.
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