Five Business Lessons – Based On the Movie ‘The Founder’

‘The Founder’ happens to be a true story of a salesman – Ray Kroc who later became the Founder of McDonald’s. Let me give you a short summary of the movie. The movie takes you back to the 1950s when Ray Kroc met Mac and Dick McDonald, who were then running a burger joint in Southern California.

Mr Kroc was astounded by the brothers’ way of making the food and immediately saw franchise potential in it. Ray Kroc increased business for McDonald’s through franchisees, later taking over the company entirely and making it a multi-billion dollar empire that we know of today.

Apart from the journey of McDonald’s from being a small burger joint to a successful business empire, there is a lot an entrepreneur can learn from the movie. The movie – The Founder teaches us few savvy business lessons. Curious to know what they are? Read on...

1: Be Curious. Always!

Entrepreneurs need to be curious. Curiosity is a characteristic that helps you dig fresh ideas. In fact, Ray Kroc wasn’t able to sell his first milkshake machine to many restaurants. Ultimately, when he finally got an order for 6 machines from a faraway restaurant, he was very curious to know why so many milkshake machines were ordered by a single restaurant.

In such a situation, Ray Kroc would have simply delivered the order and avoided travelling distances to know the reason. Like we said, he was curious and decided to visit the restaurant in person to know why.

Which is why we encourage young entrepreneurs to keep their curiosity alive. Know the reason behind the success or failure of business ideas. It is important to know why certain things work the way they do or why they don’t.

2: Explore New Ways

Just because certain things were never done, it does not mean it can never be done in the future. Innovators never settle and refuse to accept the status quo or inefficiency. Young entrepreneurs should have the ability to explore new ways by taking inspiration from different fields.

Thus, to improve the efficiency of their business, McDonald brothers Mac and Dick took inspiration from assembly line concept perfected by Henry Ford for cars and applied it to their burger business. They made sure that the speed of the system should not impact the quality of the food along with the hygiene.

Similarly, it is important that entrepreneurs realise that the quality of their products and services is not affected because of the increased production. We understand that finances can be a major issue here. But with an additional source of finance such as cash flow finance, your business can receive a much needed financial boost.

3: Solve Customer Issues

It is important that entrepreneurs understand their customer needs. When a company supplies the right products and services it eventually creates demand in the market.

Before the popularity of McDonald’s, drive-in restaurants were popular among people but they had to wait longer to get a seat. Sometime the food was wrongly assembled when served to a customer.

However, this was not the case with McDonald’s. Compared to many other restaurants that Ray Kroc visited, McDonald’s was able to serve high-quality food relatively quickly and at a lower cost without degrading its quality. Hence, despite huge lines, people were happy to wait, because the quality of food served made it worth the time and effort.

4: Think Big

We want every young entrepreneur to think big and stretch their boundaries of possibilities. We believe this allows them to accept new challenges and makes them capable of overcoming those challenges.

McDonald brothers first identified an efficient restaurant business model and then decided to have one great restaurant instead of multiple ordinary restaurants. When Ray took over, he thought big and with his persistence, he innovated and mastered the art of business expansion through the franchisee model.

5: Sell Your Vision

With a definite goal and vision, it becomes easy to get people on board by appealing to their aspirations. A successful entrepreneur should be able to get people on board whose goals and visions align to that of the business.

The McDonald brothers were very passionate about their products, while Ray Kroc was passionate about the business potential. It was his vision that convinced the brothers for expansion through franchisees and make McDonald’s a successful food-joint that it is today.

‘The Founder’ has many other hidden business lessons an aspiring entrepreneur can take. We managed to come up with five business lessons and tried to elaborate it our way. The movie overall is fun to watch for business enthusiasts and is a must watch.

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