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In 1930, two young brothers named Dick and Mac moved out west to
Hollywood to work in the movie business. They eventually opened
a theater, but it was never profitable.
In 1937, they opened a drive-in restaurant in Pasadena. By 1940,
they had moved to San Bernardino where they expanded their
menu and were making $200,000 a year, and splitting $50,000 a
year in profit.
In 1948 they streamlined the menu to reduce costs and increase
speed of service. It worked, and by 1950 they were making
$350,000 a year and splitting $100,000 in profits.
Their efficiency in the kitchen and with food systems was sheer
genius. People from all over America visited them to see how
their operation worked and study their management methods. They
were so good that they received 300 calls and letters per month.
As you’ve probably guessed, their last name was McDonald. In
1952 they started marketing the McDonald's concept, but failed.
They sold just 15 franchises, 10 of which never opened.
While they were great managers, they were not great leaders.
Then in 1954, a 52-year-old milkshake machine salesman heard
that the McDonald brothers’ hamburger stand was running eight of
his milkshake “Multimixers” at one time. He had already
mortgaged his home and invested his entire life savings to
become the exclusive distributor of the Multimixer, and saw this
as a great opportunity.
He packed up his car and headed to California, like the
Beverly Hillbillies, but without their money. His name was Ray Croc.
Ray thought that if he could get Dick and Mac to open several
restaurants, he could sell eight Multimixers to each. Dick asked
who they could get to open them. Ray answered, "Well, what
about me?"
Ray opened the first restaurant in the Chicago suburb of Des
Plaines in 1955. His first day's revenue was $366.12. He opened
100 new McDonald’s over the next 4 years. Over the next 4 years,
he opened 500.
He eventually bought all rights to the McDonald’s name for $2.7
million, and today they have over 31,000 locations, employ 1.5
million people, and serve almost 47,000,000 customers a day.
Who would have ever thought that a milkshake machine salesman could create all
this? The answer is “Anyone who knew Ray Croc”.
It wasn’t his milkshake machines that led to his phenomenal
success, it was his leadership skills.
As Colin Powell said, leadership is the art of accomplishing
more than the science of management says is possible.
To Your
Success,
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Franklin D.
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Dear Glenn,
I
have an employee who is a single Mom and she's having
some pretty difficult financial issues. She has asked me
to loan her $1000 because the bank won't and the company
won't.
I 'm a Christian and feel I need to help her, and I want
to. But I can't afford to loan her that much
money.
I was thinking about cosigning a loan with her at the
bank. What do you think?
Maria in
Seattle
Dear
Maria,
No, no, no, no, no, no, no, no, no, no, no, no, no, no,
no, no, no, no, no.
If you want to help her, give her the $1000. If
you can't afford to give it to her, then you can't
afford to loan it to her.
Rest assured that if you cosign the loan, there's a
very strong chance you'll be the one repaying it.
Even if you could afford to give her the $1,000, you'd
still be treating the symptom and not the problem.
She'll eventually be right back in the same situation.
If you really want to help her, send her through Dave Ramsey's
Financial Peace University so that she can learn to
manage her money better.
She may discover that her problem is not just spending,
but is also an income problem. If so, there are two
solutions.
One, she finds a higher paying day job. Or two, she
takes a second job at night until she gets back on solid
financial ground.
I should also add that we are launching our newest
website next week,
www.Make
MyMoneyGoFurther.com to help our Priority Club
members better navigate the choppy waters
ahead.
Thanks for your question.
Glenn in Nashville
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