Tuesday, March 23, 2010

Rapping with Ray

He didn't walk through the doors of history until he was 52 years of age.

What he witnessed, made him feel like Newton the day an apple caromed off his cranium.

The year was 1954.

And for a career salesman out hustling milkshake machines, he was immediately seduced by the beauty he saw in a tiny drive-thru operation.

Ray Kroc's genius was being able to see that which others could not. During the early 1950s with people trading cities for suburbs, Ray was losing soda fountain customers by the dozens. Seeing the writing on the wall, Ray was all eyes and ears when he walked into the brothers McDonald restaurant, quickly the potential financial windfall possible with hundreds of these assembly-line operations across the country.

The brothers McDonald couldn't see what Ray saw.

They eventually sold their shares to Kroc in 1961 for $2.7 million—cash.

By 1965, Ray and his team opened more than 700 restaurants in 44 states. In April of that year, McDonald’s became the first fast-food company to go public with stock issued at $22 per share. Within weeks it climbed to $49 a share, making Kroc an instant multimillionaire. By the end of the sixties, there were nearly 1,500 McDonald’s operating worldwide. When Ray went up to Hamburger Heaven in January of 1984, a new McDonald’s was opening on average every 17 hours.

Today, McDonald's employs 1.5 million people worldwide, serving 47 million customers each day in 119 countries. And according to a recent survey, the iconic golden arches are now more recognizable around the world than the Christian cross.

Because Ray saw something no one else did.

Had the brothers McDonald retained their shares, they or their heirs would have been collecting in excess of $100 million per year today.

Like many great entrepreneurs, Ray Kroc was not a creator or inventor. But he was a dreamer and a doer. As he once explained, "The two most important requirements for major success are: first, being in the right place at the right time, and second, doing something about it".

Ray Kroc could see a shit load of potential in somebody else's idea.

Is there an idea you need to start paying attention to?

And acting on?

"If you work just for money, you'll never make it, but if you love what you're doing and you always put the customer first, success will be yours"

P.S... Not even in his wildest dreams would Ray have imagined this type of reaction to what he and the brothers McDonald created.


1 comment:

Phil Booker, Booker Realty said...

Ray Kroc is one of my idles! Running MacDonald's you would think he was in the restaurant business but as the largest real estate holder in the world, Ray would say he's in the real estate business. Thanks for sharing this post Gair. Laura and I love your blog! I started a blog too, check it out: http://frederictonrealestateblog.blogspot.com/ keep up the great work!