Ray Kroc was a businessman and entrepreneur, most famous for his feat in turning McDonalds from a local restaurant into the global empire that it is today. He first came into contact with the McDonald brothers when he sold them multi-mixers. Immediately after he visited the store in San Bernardino, he saw an opportunity that he could not ignore.
The McDonald brothers had the right ingredients for success – they just needed someone with the vision to drive and expand their business. And that person was Ray Kroc. He eventually bought the company for $2.7 million in 1961, and went on to build the biggest restaurant chain in the world.
We’ve compiled the top quotes from Ray Kroc that can teach us a lot about business success.
1. “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.”
Business should be about what you can provide for your customers, and how passionate you are about that. If the passion for your business and for your customers is not there, your business will die.
2. “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.”
Being successful is a lot about timing as well as the ability to see opportunities, and take action quickly.
3. “If you’re not a risk taker, you should get the hell out of business.”
As blunt as it sounds, if you’re not able to take calculated risks, you’ll miss the boat. Business is about taking risks as much as it is about making smart decisions.
4. “It’s easy to have principles when you’re rich. The important thing is to have principles when you’re poor.”
Ray believed that your integrity should be unwavering, and that your principles should stay grounded regardless of your circumstances.
5. “As long as you’re green, you’re growing. As soon as you’re ripe, you start to rot.”
Never be complacent in business – because the minute you do, is the minute you begin to rot.
What lessons have you learnt from Ray Kroc? Let us know in the comments!
This April, international experts share their proven systems for success at The National Achievers Congress. Learn more.