The following are Top 10 Ray Kroc Business Strategies that you may apply with your strategies too.
“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.” – Ray Kroc
Having a Big Vision
When Ray started to co-purchase the stocks of McDonald’s, he already had a big vision in his mind. He knew his goal and he knew where he would like McDonald’s to take lead. He envisioned McDonald’s to have many establishments and branches all over the world and worked hard to achieve it. Now? Look where it got him. His dream eventually became his reality!
Going to Work “On” The Business
Ray studied McDonald’s business operations and took a list of the areas needed for improvement. From then he formulated some concepts, refinements, standards, and procedures, basically a SYSTEM to transform McDonald’s customer service into a world-class one.
“The quality of a leader is reflected in the standards they set for themselves.” – Ray Kroc
The McDonald brothers didn’t have any interest in expanding the restaurant before. They were pretty content with just having one shop. But Ray was anything but like that. He’d dreamed of McDonald to expand their restaurants nationwide (and even worldwide) that he’d pitch his idea to the brothers. And when they asked who’s going to manage such a tedious task? Ray replied, “What about me?” 🙂
Love What You Do
“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.”
Always believe that a business should be all about how passionate you are in delivering the best to your customers. Because if you’re not committed, your business will die.
“You’re only as good as the people you hire.” – Ray Kroc
Be a Risk Taker
“If you’re not a risk taker, you should get the hell out of business.”
His statement might be harsh, but Ray believed that not taking any risk will deprive you of the opportunity to become successful and will hold you back from achieving your true potential.
Know Your Business
Ray know what he wanted McDonald’s to become even before he started purchasing it. He wanted to create a hamburger franchise. So he strategically planned the location of his franchise to succeed.
“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
You Must be Relentless
Ray didn’t just sit back and chill and let success come to his doorstep. No. What he did, instead, was to work hard until he got the million dollar deal with the McDonalds brothers and now, he’s one of the world’s wealthiest and most successful entrepreneurs.
Shoot for Perfection
Ray know that nothing is perfect in this world. But it didn’t deter him from giving his best shot to deliver a first-class customer service to his customers. He wanted them to be happy and satisfied with the food and services offered by.
“We provide food that customers love, day after day after day. People just want more of it.”- Ray Kroc
Teamwork is the Key to Success
No matter how brilliant his idea is, Ray knew that he couldn’t realize it all alone. He needs to hire a dedicated group of loyal employees. That’s why he treat all his employees with equal respect and fairness. He believes that if you took great care of your employees, they will take care of your customers.
Always Stay Grounded
“It’s easy to have principles when you’re rich. The important thing is to have principles when you’re poor.”
Ray believes that money, fame, and success will never be able to define you as a person. So it’ important to maintain your humility, integrity unwavering regardless of the circumstances. You must not lose your soul and dignity over trivial things.