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Is Mark Zuckerberg the most powerful person in the history of the world? Maybe
But Zuck's not who I want to talk about
Let's discuss two legendary American founders from the 20th century:
Ray Kroc, founder of McDonald's
Sam Walton, founder of Wal-Mart
1/6
But Zuck's not who I want to talk about
Let's discuss two legendary American founders from the 20th century:
Ray Kroc, founder of McDonald's
Sam Walton, founder of Wal-Mart1/6
So technically, Ray Kroc didn't found McDonald's
But he's the one that had the vision to turn it into an empire
Kroc's best quality? His eye for talent
Key hire Harry Sonneborn helped him realize they weren't really in the food biz..
They were in the real estate biz
2/6
But he's the one that had the vision to turn it into an empire
Kroc's best quality? His eye for talent
Key hire Harry Sonneborn helped him realize they weren't really in the food biz..
They were in the real estate biz
2/6
Fred Turner was a young kid trying to open a McD Franchise
Didn't work out...
But Kroc hired him because he was driven
Kroc was right: Turner ended up being a wiz at operations and efficiency
He eventually became CEO
Lesson: win by hiring ppl with different skill sets
3/6
Didn't work out...
But Kroc hired him because he was driven
Kroc was right: Turner ended up being a wiz at operations and efficiency
He eventually became CEO
Lesson: win by hiring ppl with different skill sets
3/6
Let's talk about Sam Walton now
He got in the retail game early
First as a J. C. Penney management trainee
Then as a franchise owner for a general store
Even before he opened the first wal-mart, he was already competing on price
4/6
He got in the retail game early
First as a J. C. Penney management trainee
Then as a franchise owner for a general store
Even before he opened the first wal-mart, he was already competing on price
4/6
When he did launch Wal-Mart,
Walton persuaded his store managers to become equity partners
This was rare at the time
And he's reported as having created dozens of millionaires
My fav quote of his (about merchandising)
"Stack 'em high and watch em' fly!"
5/6
Walton persuaded his store managers to become equity partners
This was rare at the time
And he's reported as having created dozens of millionaires
My fav quote of his (about merchandising)
"Stack 'em high and watch em' fly!"
5/6
Another fun fact about Walton?
He got his pilot's license to fly himself around the country and check on his stores
Key Lessons: Give your team skin in the game + the low-price/high volume model can be
(when it's done right)
6/6
Other Source:
He got his pilot's license to fly himself around the country and check on his stores
Key Lessons: Give your team skin in the game + the low-price/high volume model can be
(when it's done right)6/6
Other Source:
