Book- Grinding It Out: The Making of McDonald’s, Ray Kroc
1) You read about an entrepreneur:
· What surprised you the most?
I was surprised to discover that Ray Kroc didn’t start McDonalds himself. He sold milkshake mixers and bought McDonalds from two brothers who started the small business.
· What about the entrepreneur did you most admire?
I admire that Ray Kroc was on the older side when he made the decision to purchase McDonalds. He saw potential in a business that was very small when he first bought it. He built it from the ground up into the global phenomenon it is today.
· What about the entrepreneur did you least admire?
I was disappointed to learn a bit about his personal and family life. He had become an alcoholic and was unfaithful to his wife. He didn’t really make his family a focal point in his life or a main priority.
· Did the entrepreneur encounter adversity and failure? If so, what did they do about it?
Ray Kroc faced a lot of adversity throughout his lifetime. Before making it big with McDonalds, he played the piano for money which was his only source of income. In the book he says, “adversity can strengthen you if you have the will to grind it out”.
2) What competencies did you notice that the entrepreneur exhibited?
His organizational skills in business allowed him to drive McDonalds to the level it is at. He has changed the way fast food is viewed and sold. He also invented the way franchising is done.
3) Identify at least one part of the reading that was confusing to you.
It was hard to understand some of the wording surrounding business concepts. I also thought it was confusing how his paper cup company took 60% of the profits of Multimixer.
4) If you were able to ask two questions to the entrepreneur, what would you ask? Why?
I would like to ask Ray what his opinion is about McDonalds today and if he ever thought it would become the global phenomenon that it now is. I would also like to ask him if he thinks it’s ironic that the Multimixer milkshake was so important to him when he was starting off and how now ice cream and McFlurries are not one of the vital aspects of McDonalds.
5) For fun: what do you think the entrepreneur's opinion was of hard work? Do you share that opinion?
Ray valued hard work, in the book he said that work was play. I viewed this as, if you love what you do, then it’s not so much a job it’s something you enjoy. He enjoyed the challenges that came with building a business. I agree with him that you should really love your job because it’s something you’re going to have to do every day so you might as well enjoy it.
I think this must have been a pretty interesting read to learn about how McDonalds, one of the biggest chains ever came to be. One thing is for sure, is that Ray had to have been smart and a hard worker to make this company into the giant it is today. It is unfortunate to lean however that he did not value family life as much and seemed to struggle in that aspect of his life.
ReplyDeleteHello Marioly,
ReplyDeleteI also read this book during the first pass of this assignment. I was very interested by the story of how Ray Kroc founded McDonalds and turned into the franchise giant it is today. I was very surprised to learn that he started out selling products as a door to door salesman and was pushed into a bad deal for a majority of those profits.
Hi Marioly,
ReplyDeleteI found much of your examination over the life of Ray Kroc very similar to what I found when working through Steve Jobs’ biography. For instance, both of their personal lives where very much rattled in their relationships to members of their families. In regard to their business ideas, they also both happened to launch the foundations of their respective industries.