22 Burst results for "Ray Kroc"
Do You Need A Degree To Be a Successful Entrepreneur?
"I could begin today's episode by naming all the famous entrepreneurs. We all know that don't have a college degree. Whether. It's Mark Zuckerberg or Walt Disney or Michael. Dell or Steve Jobs or Steve Wozniak or Bill Gates or Ray KROC or I can keep going right. But. That doesn't prove that have a college. Degree is a waste of money, or the conjugate doesn't help you become an entrepreneur. I let's recognize the fact that everybody on that list I just named and more ones I didn't list are exceptional entrepreneurs, exceptional people whether they're very bright and talented, whether they have a lot of tenacity like Ray Kroc, or just are willing to work harder than everybody else I'm not interested in edge, cases or extraordinary people that are extraordinarily things. I am interested in addressing this question with the fact that what about everybody else everybody who may not be a genius or The special gifts of some of the people we've talked about. Can they make it as an entrepreneur without a college degree? Well, let's talk about what caused. Agree gives you so that we can boil it down to. Do you need those things to be successful there more college degree? We'll give you an education. They will teach you somethings who go to class and you'll learn now whether that. is of date or not is a different matter, but you will learn. You will gain those skills number two. It's going to put you in an environment where you're going to meet. Other people go to college whether it's online or offline, you are going to be networking with other people other likeminded people other people. WanNa be successful just like you, and often you know in the same field whether it's computer, science, or business, or whatever it is so one you're gonNA give formation number two. You're going to get exposed to people, and you'll be able to build a network and the third thing that call will give you is a piece of paper. They'll give you a certificate. They'll give you a diploma. Something that tells other people employers particularly that hate. This person knows stuff or knows this area of expertise whatever your degrees in, so it's almost like a permission, slip or sort of like a coupon like hey, this paper proves of this person. Know something in this area with a stern on a different matter, but that's how society views a degree, so those are the three things college will give you now. Can you achieve these three things outside of college with Al GonNa College Information Skills. Skills Yup, you can learn the outside college whether that is indifferent programs online learning courses online books, universities will have a monopoly on the information, right? You can get this information elsewhere network while there's a little bit different because you know you're not in a space like an actual campus, but hey, you still can go to conferences. You still can meet people online. You could be a a person that really values relationships in kind of. Of Fall some advice. We talked about in this in this podcast. How To make sure you build your network constantly? So this is doable. Assad College, and the third thing is the piece of paper now a totally different think society has agreed that this piece of paper will allow you to get you know opportunities whether it's jobs or an interview or whatever it is. This is the difference the piece of paper. So do you need a? A piece of paper. That's the question here, so college is beneficial. If you do need a piece of paper that permission slip, but if you plan to be an entrepreneur, if your soul is GonNa, be a business bill I want to be an entrepreneur. All my life I don't want to really pursue a career that requires me to have a degree. If that's you tried and true, then really GonNa College may not make the most financial. Financial Sense not going to say it's going to hurt you, but it's a lot of time often in your prime years and a lot of money being spent on something, you may not really need because you can achieve the things you want to achieve as an entrepreneur without it now if you are not sure if you like fifty fifty. Hey, I think I to be an entrepreneur, but maybe I want to work for a little while. While maybe I want to start a business and then after that I wanna go ahead and you know work somewhere at a corporation, a degree will help you get that job. This justice, the reality of the situation there are exceptions to the rules of course in different careers one of them is programming development engineering technology. Many engineers don't have college degrees, but they're so highly skilled, and so saw after that they can get a job. Job Easily and our certification programs outside of the university structure that you can take in that field that can qualify you to get jobs. A lot of people say hey, getting your degree is sort of like a backup plan. You can always get a job if things don't work out, but that really doesn't help you answer that question of. Do you need a college degree to Be Successful Entrepreneur? I don't think you need it I. I do believe you'll. The half caused. Degrees can be successful I. do believe that people that don't can be successful as well as a matter of how you WanNa spend your resources. Your time and your money I can't tell you for certain that thing that I learned in university. I don't use at all in my day to day life as an entrepreneur. I'm sure there are some things that I've picked up that I've used. But if I'm going to be completely honest. I don't think there's enough of that. I would say would require me to have gone to college to be. Successful, so you also have to define what success means. What does success mean to you as an entrepreneur? Is Success being able to pursue a hobby that you love and make a profit is success being able to replace current income in your current job with your business success, a a million dollar business is that a ten million dollar business? Is it a billion dollar business which a lot of? Of People think that's the only meaning of success. No, you need to define what success is for you as an entrepreneur and for most people I think it should be able to make a healthy living that allows you to be financially free doing something that you really feel passionate about that. You
How Dave Thomas Built Wendy's
"In one thousand nine hundred eighty two rex. David Thomas was born to an unwed. Mother who gave him up for adoption would be raised in poverty by his adoptive father and grandmother and the boy who went by Dave began working in the food service industry at the tender age of twelve after serving the Korean War. As a cook and Mess Sergeant Thomas Partner with a different sort of military man. Colonel Sanders himself. In helping to expand the Kentucky Fried Chicken Franchise in the Midwest and among Dave Thomas's suggestions to the white suited in White Bread. Bert Baron was to appear in. Kfc's advertising his own mascot advice. That Thomas would later take himself after founding the Square Patty Burger chain. He named after his beloved daughter. As CEO of Wendy's Thomas would appear in hundreds of TV ads becoming a household name as a friendly. Grandpa with effortless. Homespun charisma like a bizarro. Papa John and as opposed to brothers Dick and Mac McDonald who had their chain legally pilfered by sinister franchising kingpin. Ray KROC Thomas Retain Day to day. Control the chain. He founded up until his
The United States of McDonalds
"For ME GROWING UP IN CHICAGO. McDonald's was always around. We had birthday parties at McDonald's because her apartment was on on the small size I went to McDonald's after work in high school and after school. It was the go-to meal when my mom Um and I were driving far distances and we needed something to eat and so I have probably spent most of my life inside of McDonald's so the fact that I wrote a book about McDonald's. McDonald's is actually not that surprising. This is Marsha chatwin. She's a professor of history and African American studies at Georgetown University and her new book. The book about McDonalds. It's called franchise the Golden Arches in Black America and speaking of the Golden Arches. There's another new book out called drive through dreams. James A Journey through the heart of America's fast-food kingdom it's by journalist. Adam Chandler the Golden Arches are thought to be according to independent survey more recognizable as a symbol. Both then the Christian crosses around the world recognizable or no. I didn't imagine we'd ever focus an entire episode on McDonald's but here we are Dr Together. Adema Marsha Taylor story about McDonald's that is about much more than McDonald's making it perfect for gastropod and we of course our guest repod the podcast. That looks at food through the Lens of science in history. I'm Cynthia Graber and I'm Nikola twilly and this episode. We're getting to the bottom of how McDonald's took over America. The story starts with WHO invented the hamburger burkart. And how did it become so ubiquitous that it gets bigger from there this episode. We're asking his McDonald's basically America's national cuisine and if it is is what can it tell us about who we are as a country less. How did the tax payer ended up funding the spread of McDonald's in the inner cities and why we're civil rights groups on board? Well whatever idea you have of of. How huge fast food is you should double or triple in your mind because the statistics are bonkers? They're completely bananas us. Eighty percent of Americans eat fast food every month. Ninety six percent of them eat fast food every year which is more than the number of Americans that participate participate on the Internet atom. Says there's not a single place in America that eighty percent of Americans go to at least monthly not a library or Jim or any house of worship according according to the Centers for Disease Control which is not happy about this stat. More than a third of American children eat food every day and for the population as the whole. It's roughly the same thirty six percent of us. Eat it every single day out of all the fast food available to us in the US. The biggest I the most popular chain the one that serves literally one percent of the world's population every day of course it's McDonald's which according to somewhat recent stats sells seventy five burgers every second and Serbs sixty eight million people per day. There is no real way to get your head around numbers that large. But what's weird is that's is makes McDonald's the biggest almost everything everything. It does so marshalled as the McDonald's is even the largest distributorship toys in the world just because of happy meals. At how do they get that big to answer that we we have to go back to the beginning. It all starts about one hundred years ago with the invention of the hamburger. Well there is a lot of debate as is debate about anything culinary in this world about who invented invented any particular item there are many authors but a lot of historians culinary or otherwise. We'll give credit to Walt Anderson. And he was a fry cook in Wichita who one day in one of those kind of Isaac Newton Aha moments got really frustrated when he was cooking a meatball on a griddle and smashed it flat right with the SPATULA and the result was a burger that cooked through really quickly and he put them in these specialty buns. And that's sort of the most recognizable version of of the Burger that we have well Anderson's meatball. Smashing moment was a breakthrough. He went onto lunch white castle. And that what is believed to be the very first fast food chain in the nineteen teens and twenties. There weren't fast food chains. Americans lived in a very different world less connected less cosmopolitan. I'm a politician. Even as late as nineteen twenty five only half of all the homes in the United States had `electricity even fewer had indoor plumbing. People weren't used to dining finding out regularly. Generally speaking there wasn't a unified culinary culture. There wasn't one item. We had ethnic enclaves that had their own specific blends of items that that were cherished and part of a tradition but in the nineteen twenties America was starting to change. The model t was becoming more affordable and the number of people who owned cars more than quadrupled. Adam told us that nineteen twenty was the first year that more Americans lived in cities the not the US was starting to become urban. The First World War was the first mechanized war and the nineteen twenties. He's was the machine. Age Technology promise to streamline and modernize every aspect of American life the nineteen twenties was also. The beginning of radio's Golden Age and more and more people started to tune into music and mystery and comedy shows. Radio started to create a national culture at the end of World War One reserved this unifying aspect to American elect. Technology was bringing about and the hamburger was part of that was part of finding a national diet. The hamburger did have one hurdle to overcome Americans. At the time. I'm was scared of ground meat. They were scared of it. Because they'd all read the jungle by Upton Sinclair and they were nervous about the quality of the food. The jungle was a really important book from the Early Nineteen Twenties. We talked about it in our episode. On the history of preservatives. It told the tale of a semi-fictional worker in a Chicago. Slaughterhouse and the nightmarish conditions there for both the workers and the resulting meat while Anderson than meat ball smashing genius behind the hamburger. He was fully aware that Americans thought ground meat was likely full of dirt and and dead rats and even workers fingers so what he did was he designed these stores that all look the same. They had stainless steel interiors white tiles and they look like castles and white castle was meant to kind of convey this stately safe grandeur of a place where you could go and it would be the same everywhere you went so it was meant to reassure consumers. Who didn't really know what was safe to eat? And that really set the tone for what would come in the future of these industries of franchising of seeing something wherever you are in saying. Oh I knew it. I'm going to get here. This is familiar to me. White Castle was the first to open in franchise fast food restaurants. But it isn't the biggest today as you all know. That title goes to McDonald's. McDonald's brothers were these two men from New Hampshire sure who had kind of seen the extremes of the great depression and they headed out to California to see where they could strike business. Gold Dick and Mac McDonald headed West in nineteen thirty. They were in their twenties and their thought was. Maybe they can make it big in the movies. That didn't find as much success as they'd hoped they were two sons of a shoe factory foreman and they found success more for in the business side of production the catering. They went from that into the restaurant business. They opened up a barbecue. Stand in nineteen forty and southern California and and it was one of the drivers of the era. That people are often familiar with car. hops in major at boots and a young guys cruising in in cars and people hanging out and just kind of a big scene and they were successful. First restaurant was called McDonald's and it was in San Bernardino which is just east of La. It's meaningful that. McDonald's started in southern California because southern California was really where a lot of changes that overtook. America were happening kind of on on steroids by the early nineteen forties. The Great Depression was finally over. San Bernardino is shifting from being farming town to more of a manufacturing and service industries industry center people were moving their into the growing city and suburbs and increasingly. They had a little disposable income but also San Bernardino was on route sixty six and so it was a place where a lot of people were traveling throughout California as well through as the rest of the country. So Dick and Mac McDonald. Were doing pretty well for themselves. But but then after eight years in the restaurant business. They surprised everyone by deciding to close their popular successful restaurant and entirely revamp it. The re diagram to what the kitchen would look like they use this assembly line model that White Castle and kind of employed and they cut the menu items from twenty five to nine. They also fired all all of the young women who are car hops because they felt like they were flirty and they would distract from the work that was happening there. They also wanted to pivot away from being a teen hangout to family friendly place. They got rid of silverware because people would steal it or break it and they went to wrapping Burgers in paper and they wanted to create the most efficient kitchen possible in order to serve as many people as possible. And so the revision of the McDonald's drive in is what we are living with today a highly automated mechanized kitchen and that is able to produce high volumes of food and a very short period of time. What they did was they basically just souped up the kitchen and turned it into a factory? An assembly line dusted with Hollywood magic. And the result was they could serve food for cheap even cheaper than their previous menu items had been. I didn't know what to make of it but it caught on very quickly. This new McDonald's factory style restaurant didn't just catch on with eaters. It became a total phenomenon. Within the restaurant industry. Eight people were coming from all over the country to kind of hear and see what was going on because there were these whispers in the industry about this place that was so popular and and you know there were long lines and people were talking about this place. That was not just serving a lot of people but serving a lot of people quickly so eventually the founders of Burger King Taco bell a couple of other chains that didn't quite make it ultimately stopped by and they copied with McDonald brothers. Were doing as Z.. Listeners know some of those copycats are still around today. One of the businessmen who came to see it was none other than Ray KROC. He was a salesman and he sold the mixing machines machines for milkshakes and the McDonald Brothers had bought a shockingly large quantity of these machines so great thought he'd go and see what they were doing with them. Ray had been in nearly every kind end of commercial kitchen available. At the time. He'd played jazz at speakeasy. During prohibition he'd sold kitchen and restaurant supplies around the country so he came to the McDonald's restaurant in San Bernardino we know and he saw the crowds and he was completely blown away by it and so immediately said this needs to be national. This needs to be everywhere. Ray convinced the brothers. Let him start working with them before long. He bought them out. And the tool that ray us to fulfil his dream of taking this model national and then global global was the franchise so franchising is this concept that a parent company provides all of the blueprints and the instructions and the recipes for a product or service and the Franchisee pays Hayes for the right to deliver that good or service to an audience. Ray KROC didn't invent this franchise model White Castle had already been using it and in fact many experts think that at the root of the idea goes back to the Catholic Church in the Middle Ages tax collectors did the work of the church and collected tithes and the kept some of the money for themselves at the start of the twentieth century. Rick Coca Cola had used the franchise model to make their sugary drink available at drugstores across America. But it was ray KROC who really took this franchise idea and ran with it. The franchise model. I think is amazing because it allows companies to pass on all of the liability to this other party so so that was sort of the way in which McDonald's grew really quickly and also took a lot of the risk out from opening places and this is the way they maintained control over franchisees so it was consistent. You didn't have rogue franchisees trying to sell Pepsi when you had a contract to sell coke and so it was a complicated system. But it's what turned McDonald's into the the biggest in the fastest growing fast food restaurant. The
Love Chicken Nuggets? Thank Cornell Poultry Professor Robert C. Baker
"Future food scientists. Robert Baker was a boy when the Great Depression cut the legs out from under Americans especially early in the plains states where years of irresponsible agriculture practices led to the dust bowl. The Baker family which raised fruit in the summer and chickens pins in the winter. Had to get good at making a small amount of food feed as many people as possible. This way of thinking stayed with Robert through his years us at Cornell University where he majored in pathology the study and cultivation of fruit he graduated in forty three and went to work for the Cornell cooperative extension as a liaison between the university research centers and local farmers World War to increase the demand for chicken and the poultry. Three farmers had developed ways to grow their output including advances in genetics and feet but when the war was over the demand dropped farmers. Farmers didn't want to give up income by decreasing production so they had to find ways to increase the market for chicken from simple old timey market stalls to mid century injury grocers chickens were almost always sold whole which people were finding increasingly inconvenient as opposed to be for poor which came in cuts. Meanwhile Baker had begun to develop more of an interest in that aspect of his family's business the chicken raising he was hired by Cornell as an assistant professor in poultry science tasked with finally ways to encourage people to eat more chicken he and his team worked in a lab filled with grinders blenders and deboning machines jeans trying to develop test and taste new chicken products they created chicken Bologna chicken sausage chicken hot dogs and chicken patties. SHRIMP AROUND SUIT SHRIMPS DO SHRIMP Salad. Shrimp Input Titles Shrimp Burger Shrimp Sandwich. Last best westbound it. They also developed the broiler chicken a two to three pound chicken. More attractive to consumers and quicker to produce for farmers and found ways is to encourage people to eat more eggs. His most important achievement was a method that process chicken which allowed the meat to be shaped in any way possible. This gave birth to Baker's greatest invention. The chicken stick Baker in a student figured out a way to keep the ground chicken meat together and get a delicious batter to adhere to it. I put raw chicken and a grinder with salt and vinegar to take out the moisture. Then they added powdered milk and mashed up grains which helped to hold it together. Are they molded. The process chicken into sticks pros them dip them in battering cornflake crumbs and I again. They developed a package contested it at a local supermarket within six weeks. They were selling two hundred boxes a day. If I'm saying Baker invented the chicken nugget. Why isn't his name is well known as Ray KROC or even the McDonalds brothers? Baker didn't patent is chicken sticks or anything that he and his team created said Robert Grovonni Cornell professor who studied under Baker. He literally gave ideas away and other people patent at them. Plus Cornell had published the whole process and all of his recipes in the April nineteen sixty three issue of agricultural economics research publication that was distributed for free to over five hundred companies including McDonald's in nineteen seventy seven the McGovern report was released urging Americans for the first time to eat eat less red meat burgers took a real. Pr Hit and sales dropped. People wanted chicken and McDonald's wanted their money so they began to make their own frozen breaded chicken product using Baker's process though their shape circled the bell boot ball and bow in March in nineteen eighty. Fifteen Knoxville Tennessee. McDonald's debuted a new product the chicken mcnugget it set sales records and soon chicken nuggets. Were we're at every McDonald's worldwide over two billion servings and that can be anywhere from four to twenty nuggets at time are sold each year which is not doing us any favors withhold obesity thing and. That's ironic when you remember that. It came from a desire to make scarce food go farther. Though Baker never saw revenue share from those billions of sales he did get inducted into the American Poultry Hall of fame in two thousand four. So he's got that going for him in which is nice.
"ray kroc" Discussed on Jim Beaver's Project Action
"How basically that one guy ray kroc came on. I watched a documentary actual. Yeah it was okay so that's a perfect example of that right ray kroc we think of him as a amazing business person where he actually screwed over the the mcdonald's brothers right because we think things in business terms they go. He was the savvy businessman he was. He was a little bit ruthless for sure but that's business. That's right. We are okay with thinking about business in those terms well business people and large corporations that are very <hes> i guess divorce from down to earth humanity they think in terms of business decision and so the murder of a epstein. That's just quote unquote. Good business isn't it and make logical sense yeah well. No i completely agree when you think about that way and you know and it's like you and i and i gosh just the industries trees we work in and you know it's all about business and relationships and endorsements and and you know getting people to finance certain things and and i've really really like i've got some people i really truly like at companies you know and at times i've had to make really hard decisions. They've had make really hard decisions regarding me and i it's yes i've really made it a point to two separate business from personal relationships and that like you know at certain times we'll go into a boardroom in some hard decisions going to have to be made and some things are going to have to be said like you know and so. When i walk out of there i try and leave it in that room because some of those people you've got to know that they were just just making financial business. Decisions may actually truly like me as a person you know it's just they're having to make hard decisions and i me personally. I've really tried to <hes> to separate people from businesses..
"ray kroc" Discussed on 710 WOR
"Saw your commercial over the air. It's gaining traction quite frequently. I want I want you to tell us about what you're doing with trade SOPs. And then some of the simple tips that you give investors to kind of stay the course in these uncertain times. And then also your how that bull bear debate went if you're allowed to share that we've had we've had Steve sugar route on before. And he's always fascinating. I think he was a part of it. I really enjoy listening to him and his theories. Was my mentor. He he's a lot of what I know about investing, quite a brilliant guy. So we'll talk about what you want to remem. But. Interesting story about FedEx you brought up the app Cas in two thousand eight John McCain would've been resulted would've not become the Republican nominee for president. Never heard about Sarah Palin. We live probably had Rudy Giuliani as the nominee. You don't know. What would have happened in two thousand eight. A lot of people don't know this. But he he went through all of his money. Now, the first time he ran in two thousand against George W Bush. I think that was bankrolled by some of the bud. Fortune because Cindy McCain ahead a fortune, but I should probably said no more devoted to political antics. So he was going negative on the balance sheet, and they took a loan out from guess what? His whole life insurance cash value. Other of it wasn't. And they paid it back and the rest is history. He was nominee doodoo it now I didn't win, but it would have been much more catastrophic. Second interesting thing, Walt Disney. No one would loan his money. He took money again from his life insurance policy. And then the third. Zing story is Ray Kroc couldn't get along from a Bank. You couldn't get money as it was fun sounding McDonald's. He took money from his life insurance policies. Well, those are three things where you know. Your financial planner is not going to tell you. Hey songs it you don't even buy life insurance whole life insurance, but little these three sort of fortunes were saved on the backdrop of the loan against life insurance policy. And that's why happening Caceres's zurve is so important. A do investors. So what are some you talked about your work? Tell us about your research on emotional investing and behavioral investing, and what you've learned and some tips for audience. Yes. Well, you know, it all of it hearkens back Josh to my own experience as a novice investor. You know, I'm working on my PHD in mathematics, basically nine hundred ninety nine the stock market's going, you know, booming, right? The dot com. Boom. I I've got ten thousand dollars in my Bank account that I turned into forty thousand dollars on paper. And then March two thousand rolls around the right gets yanked out from under me. You know, my accounts falling ten percent in a day on a good day. Sometimes, and you know, that was a very emotional experience and very disorienting to somebody who considered himself to be a pretty rational thinker. You know, working on his PHD. Math. And and to really be turned into kind of an emotional basket case by the stock markets. And so that was kind of set me off on a quest of wanting to do better and understand how this works and understand what was going on with other people in the markets as well. And then for me, it kind of all started to connect. When I started to really discover the work of behavioral finance and behavioral economists, especially Daniel and Richard dealer who won Nobel prizes in economics for the very simple observation. That's we hate to lose. And that the way that kind of manifests in our decision making is when we're losing on a on a stock when we're underwater. Okay. We don't wanna take a loss. So we won't sell and we'll even put more money in and take more risk right in order to try to get back to break. Even you know, and it doesn't happen. Right. So that means that we are risks. Peaking. We're taking more risk when we're losing. And that was what congressman won the Nobel prize for and then but on the flip side when we're winning when we're ahead on an investment, our loss aversion manifest itself as wanting to take our profits early because we're afraid of losing the prophets. That makes sense. I've heard the phrase make it quick take. Good quick. Right. Right. So I'm not a big believer in that. Because what I saw in my own experience. Josh, and what I've seen over and over again in the literally thousands of portfolios of real decision makers that analyzed is that what happens is people experience. Big losses. Fifty percent. Seventy five percent ninety percent ninety five percent. Okay. If you haven't ninety five percent loss, you know, how big of a gain you have to have to make that back. Thousand percent now two thousand percents you have to have a twenty Bagger to make up for ninety five us. Okay. But people are okay. With the night. You know, they're like, oh, you know. Hey that one got away from me. One of my favorite stories is one of my customers said, yeah. Down ninety five percent on that one. But you know, what I'm gonna give it to my grandkids. That was the ultimate justification holding onto a loser right on the flip side. You know, we all our profits will get a hundred percent profit two hundred percent profit. And we'll be like, hey, that's more than I came here for especially if that happens quickly, right? You're up one hundred percent in a year. And you're like, hey, let me take that money off the table because. Wow. I didn't like I said make you take a quick, right? That's I was sitting down with Whitney Tilson last night. You know, one of a hedge fund legend, and he said, yeah. No I bought net flicks. I made two hundred percent on it. You know? And then it went up ten thousand percent after I sold. Right. So I want to help investors, you know, instead of experiencing, you know, I say, you know, novice investors have big losses and small gains. Intermediate investors have small losses and small gains and advanced industries have small losses and big gains. And that's what my work is about is. How do I help people? You know, make sure that their control. Rolling their losses. And and I like to say unlimited their winners. Right. You know, you've probably heard it said that the markets can remain irrational longer than we can remain solvent. Right. You know, everybody knows that the markets do crazy things. Right. But what happens is most people get victimized to the downside when the market does something. That's and they never enjoy having their portfolios explode to the upside when the market does something that's because you take rational profits. But you take irrational losses. I want people to take rational losses and take irrational profits. Let's let our prophets get away from us instead of letting are losers get away from us. So that's a lot of your really. So you're real big takeaway would be let your winners ride and cut your losers kind of quickly but not to quit now. Absolutely. I try to stay away from that phrase because it sounds so cliche and people think like, oh, I know what that means. Right. But no, we don't know what that means. Like, you know, what every hard in practice? Yeah. Right. Very hard in practice. It's very hard. You know, going back to my my good friend sugar is so my kind of transformation has an industrial. Josh started out using. Trailing stops trailing. Stop losses. Twenty five percent. That's what Steve's sugar rude taught me. Right. He was using twenty five percent trailing stops. And I realized that they solved the problem that I was having as a self directed investor having unlimited losses and limited gates, right? If you use a use a trailing stop strategy. You can limit your losses. But even more importantly, you can unlimit your games. So I learned about trailing stops from Steve Stricker rude, and he was using them in his newsletter. And then I backed tested his newsletter with a mechanical twenty-five percent exit. So we'll we'll talk more about this twenty five percent trailing. Stop. And what Dr Smith says is the optimal trailing. Stop. And remembering nothing is a recommendation virus? L no one can predict anything..
As Florence takes aim at the Carolinas, some decide to ride it out
"News, hurricane Florence taking aim at the southeast was states of emergency declared in the Carolinas and Virginia upgraded or watches warnings. And now hurricane warnings exist. Here all across coastal areas of North Carolina down across the northern half here of south, South Carolina. So within about thirty six hours, we're going to be feeling the hurricane force winds. Go on is still at one hundred and forty miles an hour any changes that we see over before it makes landfall to its strength at least to the strongest winds you're going to be because of I will replacement cycles talks meteorologist Ray Kroc me with president. Trump says the federal government is standing by ready to help the amounts of money. Whatever it takes we're going to do. But we're already set up. We have tremendous trucking systems we have food systems. We have a lot of. Contractors waiting, but for the most part it's been handled by FEMA coastal city of Wilmington North Carolina right in the path of floor. And this man says not everybody's taking the threat seriously coming at us and turn left or go north and hit New York and things like that. So people are just just waiting until they're sure they want to invest because it is a bit of an investment for them to go ahead, and and board everything up local officials have advised people along the coast to evacuate in warning people that choose to stay that they are on
"ray kroc" Discussed on Listen Money Matters
"Equip because of that is the person who is probably going to win there's a zillion in fact that did you watch the movie the founder now a really good movie it's about ray kroc the guy who kind of founded mcdonalds more stole mcdonald's but in one of the very opening scenes of the movie he's in his hotel room and his life before running mcdonald's he was like this milkshake mixer salesman and he sucked at it like they're barely selling enough to make ends me so he's just in these hotels in these small towns dealing with rejection of the end of the day and each has this record with him of this motivational speaker just talking he plays it every single night and the motivational speaker just basically says there's heaps of talented people who never made anything of themselves because they quit you know there's heaps of people who had all the advantages in the world still at upon them and they never used them it's only the people who are persistent that succeed and the l strates at the movies like how how does it over the hill fifty five year old failed mixer salesman become one of the most successful businessmen in the world it's persistence and it's dealing with the competition so look at your competition as an opportunity to improve yourself remember iron sharpens iron you're gonna get better when you see somebody doing something better than you and end you are different and even if you are tempting to say oh i'm just going to copy everything that thomas does or anything it's just gonna be different because you are different and so you know it would be it's almost ridiculous say but like wasn't like lady gaga was like oh there's madonna like i can't be this power female singer with a thing named after me because it's done before and it wasn't like taylor swift like oh my god there's lady gaga and it turns out that people still listen to all these artists maybe multiple of them because they're different in some way.
"ray kroc" Discussed on BizTalk Radio
"I was in asia i'll i'll ask you know month and i went to mcdonald's in different countries right think about your business processes broken into that because that is how you ensure consistency with the brand and more importantly it's how you attract and train your top people so everything that we do everything that i do i've made sure i've documented and when i read all these autobiographies i love audubon not biographies autobiographies i'm thinking what are the checklists that these people did so ray kroc when he built sam walton was walmart what were the checklist that they went through and how can i use those checklists and my business i don't care about the stories i wanted to pull out those particular check with us number one number two is i've got to actively mentor at the same time so we as entrepreneurs we're so busy trying to get stuff done and meetings and whatever that we forget that we have to invest in people but if we've got these checklists in place we can at the same time be training and mentoring other people because you mark lack as much energy in whatever it is you have you can only do so much as one person i can only do so much as one person looked at the client base that we have there's no way the dentist you even with five dynasties could actually do all those things i have i don't even do any of the expert haven't even done ads for the last few years because we built kinds of check was what are the things that you suffer in all the time where you have to repeat the same stuff over and over again your clients your investors to your you know whoever it is take those things automate them right i think automation is going to be the savior of entrepreneurs because they end up wasting time doing the same thing over and over again they complain how busy there and that's what i love is you've sort of reverse engineered how to become successful by learning about other people's processes and so excited to dive in with your business 'cause we can share kind of how you think and how you learn to implement these processes in every business grow we'll be right back with dennis you mark lack a business rockstars connecting a community of entrepreneurs you can join us on facebook twitter and online business rockstars dot com.
"ray kroc" Discussed on BizTalk Radio
"That because that is how you ensure consistency with the brand and more importantly it's how you attract and train people so everything that that we do everything that i do i make sure i documented and when i read all these oughta backflicked i love audubon not biogas audubon i'm thinking what are the chocolates that these people dead so ray kroc when he built mcdonald's san won't with walmart what were the shock was that they went through it how can i use those checklists in my business i don't care about the stories i wanted to pull out those particular check but says number one number two is i got actively mentor at the same time so we as oscars were so busy trying to get that done and meetings and whatever that we forget that we have to invest in people but we've got his checklists in place we can at the same time be training and mentoring are the people because you mark lack as much energy in is you have you can only do so much as one person i can only do so which is when person lifted declined base that we have there is no way the dentist you even with five dentists use hood after dualisms i hit that in fact i don't even do any of the acts were i have even done atra last few years in terms of the ethnic lines caused we bill is kinds of check was what are the things that you suffer in all the time we the repeat the same style over and over again shook leinster investors your cutino covered his take those things automate brightening automation is going to be the savior of entrepreneurs because banda wasting time doing the same thing over and over again then complain embassy there and that's what i love is you sort of reverse engineer and how to become successful by learning about other pupils processes so excited i have in with your business because we can share kind of how you seem and how you learn to implement these processes.
"ray kroc" Discussed on I Am Rapaport
"I agree with you that they they disappear i'll give you another example of a movie that nobody saw it came out almost a full year ago and i thought it was great is called the founder and this is the one where michael keaton plays ray kroc the guy oh yes who is credited with founding mcdonald's but in reality basically completely trumped the mcdonald's brothers there were two product called the mcdonald's brothers you know there's right the franchise was out in california uh rate crackers from here for meierya from the chicago area it was a travelling salesman and you know the mcdonald's brothers essentially invented fastfood e you know figured out a way to get them to sign paperwork and then you know the rest is history but michael keaton one of our best actress he's brilliant as you see him you see the charm and ray kroc and you see the business acumen but you also see wouldn't aso he is because he just he completely shoves dennis high and by the time he cut to the sat these when ray kroc was by in the san diego padres he's listed everywhere is the guy who founded mcdonald's which was named after the mcdonald's sport completely literally erased from history but it's a great phil great that's a good movie i saw that i saw that either on i tunes or or or netflixing one of them it but i came and went in um you know i know people had been talking about trying to get michael keeping another an oscar nomination but it didn't happen were in such a golden era of documentaries again with netflixing hvo um were there any documentaries in two thousand seventeen like or what were the documentaries whether they came out on netflixing or hbo worked in the theater first or even some of these films that they'll be in film festivals or you'll get him as screeners that stuck out you like what were the s documentaries a two thousand aging i'll be honest with that actually up at i'm working my way through right now.
"ray kroc" Discussed on WGN Radio
"Uh at one point we had a ray kroc museum at mcdonald's the original headquarters in oak brook uh down when they felt the new uh oath campers uh building um that museum went away and some of the exhibits became part of the hamburger university facility uh including ray kroc the original office and a lot of other archives from that from that uh uh exhibits from that period so uh there certainly is the potential to have something i i understand from uh the head of the mcdonald's archives currently that they're planning a rule must face of the new mcdonald's headquarters and west your cargo that would be devoted to our archives and historical information about business chris you know about that we're talking about that during the break right or that that's what i was wondering about you know chuck's um uh dan i think truck you said that you've been in contact with maybe some folks over there and that was their indication though officially mcdonald's hasn't said what they're going to do but that could be a good idea you know um i go ahead bike they haven't said anything themselves that's just conversation i have had with the someone over there now i know a guy who can help you guys out and get this off the ground them there are a president he's a big according to this new book he's a he's a big mcdonald's fan but one one point he makes and this has been part of their dna for the whole time he he likes his clint the cleanliness of mcdonald's i mean was that that's always is that always been a drawing point is just you know what you get there and it's always going to be clean and while welloiled machine well ray kroc had had an adage that uh victory adults was based on quality service cleanliness and value and cleanliness was one of those four signposts for the uh the business and i think uh uh the companies always been known for that as far as the uh you are in chaired guy i think uh mcdonald's can do it uh on their on their own frontier clown excellent so you don't work at the guy that's great uh every i'm happily retired thank you so what was.
"ray kroc" Discussed on The MFCEO Project
"What ha between the lines but uh he arod dollar club each other off um so seriously though like you're looking up to like how did you find out about these guys like ray kroc which re re bottom unlike what like had newspapers bedroom yet ahead him but i had a uh downtown lets it in hannity anarchist stone tablets heavy internet the only place we could really get information was either going to a seminar which was advertise or or advertise on the radio added was radio and tv and newspaper there wasn't the the advertising as completed a lot of the today listening this podcast never experienced life before the internet a n into intimate us like so funny like it's harder like comprehend if you think about it from their point of view they live their whole life with the internet information at their fingertips they know something to fucking google you know where anything i remember when it first came out late the people who were on the internet were fucking nerds because they were either on might do not aim like messenger dude i was on that i was on a air aol we were all on aol we that's how we got i still am he's the only person left with a fucking aol i shut down until you can't get rid of it because all my financial stuff on aol in fact somebody tried to calm i aol count last week really oh yeah where they wanted to go while those what does this moment brokers levin l l coaches will news on a fucking stone tablet.
"ray kroc" Discussed on KQED Radio
"Made as many of the early franchisees did a really excellent living john he did such a good job he got the right to build another couple of mcdonald's in rapid city two when jones crock and ray kroc finally did get together for good and not married they had a very difficult relationship it sounds like he was drinking all the time a hand was abusive and yet they stay together what we'll talk a little bit about their marriage finally got together aseef finally married him in 1916 brain and it was very tempestuous jones even filed for divorce in 1971 a couple of years after they did mary and then very mysteriously decided to stay and having been enrolled alanon and others port groups decided to coalesce this early movement of addiction councillors and even though she had to high school education she basically created in about an organization that made films the aired on national television and produced books and pamphlets and other outreach to help deal with the problem of direction from the families perspective she turned her pain and the difficulty of marriage with ray into this avail us of assets to help other people the reason that i know the name joan kroc uh is because she left two hundred million dollars to national public radio now raked by the way died in 1984 joan kroc lived until two thousand three but when she died that was one of the big donations she also gave one point five billion dollars to the salvation army jawa and some money to other places as well but why did she love npr enough to.
"ray kroc" Discussed on KELO
"Three from the kelocom news center i'm ray kroc it state eggs secretary mike jaspers had company as he combine on his place near bridgewater this week kelo radials bills zorkin road long to find out how the 2017 harvest is going so these are good with that in for what we thought we were going to get fantastic and jaspers corn better than expected as high as two hundred bushels an acre there is a new supreme court justice in south dakota circuit judge stephen jensen who was sworn in at a ceremony at the university of south quote a law school governor dugard attended the ceremony justice jensen is a native of kanda and has been the circuit court judge in el pointing for the last fourteen years jensen replaces retiring justice lory wilbur sioux falls will test a new weapon in this winter's white warfare it's a way to super blow the snow to go right out of town it's like you're snowball rock steroid streets chief gale an uber says it can take five days to load and truck away the mountains of snow so he's going to test this super snow blower they suck up snow so fast they can feel nearly three trucks in about two minutes mark rousseau kelocom news and three city schools will play for prep football titles next week it took to over times but sioux falls roosevelt's outlasted brandon valley forty one to forty to clinch their spots in the aaa title game they'll match up with topseed washington as they used a last second touchdown said if you owe gorman forty two to forty one meanwhile sioux falls chris you will play for the eleven beat title they defeated woonsocket wasn't a spring same central twenty one.
"ray kroc" Discussed on KELO
"Good guys on topright now let's go back inside city gave night studios ray kroc it standing by with a look at the weather ray lake you jim correct to we are inside the splash city game nate studios and we will give you a quick update of what's going on in these sue empires far as the forecast we are looking currently at fifty degrees a jim said it was a nice day ganic dana off non might rain might not but it in for the most part fifty degrees right now going to drop down to thirty seven degrees tomorrow jim said it's going to be beautiful sunny high near sixty seven just a south win 5 to 10 miles per hour tomorrow night partly cloudy low around forty five and on monday mostly sunny high near sixty one but the winds are gonna kicked up ten to fifteen miles per hour gusting all the way up to thirty five miles per hour blitz with south dakota's known for monday night partly cloudy low around thirty nine on tuesday mostly sunny with a high near fifty four and breezy tuesday night partly cloudy low around thirty eight in again his his where we started hitting towards yacht which it's getting towards the end of our dover wednesday mostly sunny high near sixty three wednesday night mostly clear below around forty partly sunny on thursday the high near fifty four and breezy again in the game thursday night this is where you wanna make sure you definitely get yourself bundled up mostly cloudy low around one nine and blustery which means the wind is going to be blowing we may even see a wind chill factor on that but again it's thursday night so almost a week away friday chance of rain and snow showers partly sunny high near forty one last as hard need even say breezy again chance precipitation is a forty percent and friday partly cloudy partly cloudy low around twenty six so again guys it's a week away things change but there were looking at that first chance of snow showers coming on friday and i'm sorry to have to put that out there for you is but that's what the national weather service is telling us we're going to be continue on with the second intermission here we'll be talking with the gym with the plays of the week and the lowest lewis drug outoftown scoreboard all coming up you're listening to stampede hoch on one a m 1320 1079 watching this the impeding person has just got easier with the.
"ray kroc" Discussed on LWAF
"And there's the sort of his present he's practicing the speech in the mirror in this sort of melodramatic shallow music starts to play and he looks at himself and it's the first time in the movie at which is now over literally thirty seconds left in the movie where he sort of has this look of dissatisfaction in himself because of what he's this monster he's become in its it's as if it's the filmmaker has to apologize for this how i took it to 30 grass to apologize for who rick rock was in like yeah we know he was really bad persident the mcdonald brothers were the victims and that the he has to take that edge as opposed to just letting it be what it was wracked this is who've ray kroc while he created i will don't have to make apology now i was at a one thing now is that you know and they put it as a chiron at the end where you know hit the wife that he mary's after he leaves the way fits in most of the movie um you know the donated millions and millions of dollars fan pr intelligence on dacians and so clearly there was and maybe that was more driven by her away you know i don't know enough of the story but there clearly was the after he had succeeded in become the ray kroc that we knew this desire for him to give back it you know end you know do good and so maybe that's what he was reflecting in that moment maybe at into your point earlier about was turner.
"ray kroc" Discussed on WCHS
"All all the repeat down so definitely it doesn't necessarily have it'd be some traumatic events you can be can also be just a repetition of a small event um but it's the new briefing of the brain and so it i get it it's swells up if the swelling goes down the brain kind of really is is not a factor swells up again sarin air on the brain stiller and all that effective but on a hunger 1300 time that something like that happens this following different go down quite the same way and and damage to that portion of the brain and when that occurs then you're behaviors change or your thought process or your bility to have a i thought process changes why the worst grain injury ever saw was a young gentlemen i worked with him down to what we ever and he um he was working hailing arm break i out of restaurants and he just he passed out in his head hit the corner i've a um profit cable and it absolutely at there moment his whole life changing his whole praying fact it and he added difficulty just every day try to figure out why is where he is and what happened and he could only remember that he wanted there are all a mcdonald's franchise so every day he it right here at that time as ray kroc that he would he would write a are allowed senator to ray about how he needs to be your next owner of the next franchise and that act is all he could remember and he would do it every day and if you didn't male that later that day than his behavior we just ask a late and no matter what you did behaviorally that was his routine show slowly overtime it took ears for us to get him to be more normalised about bad for an area about who would think that that would be his thought at the time right so whole brain wears a fact that say it a really hard time cognitively understanding that we've venture this every day it's it's kinda like that you know first fifty two date i don't know if you ever seen that movie that um he was he was kinda like astor every day we had to read a rare i traumatic events.
"ray kroc" Discussed on See You Next Wednesday
"Oh boy so that's what that's one of the things that i've watched yeah what about me letsie there's one thing i watched that i'm definitely going to wait for for next week because i really would like to tempted dan about it you too but but the and should be here for the conversation so let's see what else also are i'll talk about a quick little a new film a both dan is seen i finally saw i saw the founder michael keaton playing ray kroc mcdonald's the movie i thought which is great yeah really nice and it might be more well tell the story in a more well directed film than the blindside was the same director right india which i blindsided i fucking hated you watch i was on a plane all that for obvious reasons yeah i i think it was before oscar these junk even came up around it or whatever so that unlike which watch for peak now he against sandy pull a guy like are a lot of the same be onto say cdl early yes and i feel like she would she please constant right right that was a very good sandy bullet conversion there i've been working at all i i think she is wonderful but that movies is so terrible inch lockie anyway so the founders four more well told has a much better pace and i guess it had lowered expectations do because everyone's like michael keaton amazing in it but it's not really a great movie and i guess it's not really like a great movie but i really enjoyed it and he's so good sylvia at the union i saw it together and it and it and we were like i blake m more i could watch that could just keep watch the keep watching michael keaton toothpicks wide just watch ray kroc drive around it.
"ray kroc" Discussed on KELO
"Dillon whose time is three three from the kelocom new center i'm ray kroc it a recent poll gives congress a 73 percent disapproval rating south cutter congresswoman christie norm says she agrees let me be very clear i don't like congress so it's it's out of touch at washington nbc is absolutely broken so i don't like it either i don't argue with anybody who tells me that they would give it a bad rating for what it's getting done noam is serving her last term in the house she's running for the republican nomination for governor next year senator john thune spent friday noon with ron two hundred sioux falls chamber members healthcare reform tax reform the state of american politics were some of the topics covered in an interview format with moderator jack marsh one asked of working with president trump is difficult senator thrown said despite their personality differences he sees the need to work together to get things done senator thune also stated that with the lack of bipartisan cooperation healthcare reform will continue to be extremely difficult an emergency room doctor has a warning about what can happen if you look at the eclipse without the proper i protection would destroy enough of the fell than your retina to at least caused some partial blindness or certainly decreased visual acuity that sort of thing so it's just not worth the risk sanford dr christopher carlisle says you could end up with their reduced field of sight and black and white vision major works kicks off on south minnesota avenue tomorrow so you might want to plan ahead for a new way around the zone from 22nd street to 18th street crews will start phase one of pavement rehabilitation project traffic will reduce to one lane north and southbound the east and west leg of the intersex be closed in detoured along grange phillips avenue in 2006 street this phase one should take about two weeks the whole project should be wrapped up by the end of october partly cloudy 83 kelo news time three or five from kelocom new center i'm ray kroc at the news watch never stops kelo news talk to.
"ray kroc" Discussed on The Brutal Truth About Sales and Selling
"You wanna answers i think i am entitled young lot to handle the truth hey everybody welcomes episode of the brutal truth about sailed and selling podcast everybody enjoying in the summer i hope you on vacation hope you're listening to this on the beach learning about sales today we got a great episode talking about sales recipes these are the elements that make selling great great salespeople successful salespeople and how their different than the rest now i want to reference a movie i i saw for like a third time i loved this movie the founder and the founders about del ray kroc and how he built uh mcdonald's now he didn't find he didn't you know create mcdonald's he basically licensed fit or bought it from the mcdonald's brothers in the story is great because they came up with the system but ray kroc was able to come up with a smarter way of building the competent i don't want to ruin the movie and i know you all mcdonald's at one time or another but what they the element here that resonated with me was there was a tape that he was listening to and i think it was um from thinking grow richer talking about persistence norman vincent peelers one of those early motivational talk and all he talked about was persistence and if if you are persistence is better than being smart it's better than working hard it's better than phnom being lucky whatever and it and that was kind of like the one thing strategy and i'm like eyes persistence yeah is pretty good but then i thought to myself i had a friend who worked at mcdonald's not not in the restaurant but mcdonald's corporate and the culture it was very yum did they didn't pay very well let me just say that so persistence there didn't really work but if you owned mcdonald's were you owned or franchise a mcdonald's persistence works really well and the thing is you have to come up with your own recipe that works for you and what i learned from the movie is that.
"ray kroc" Discussed on Revisionist History
"The greatest minds in food engineering had to sit down and try and figure out how to keep the white part from turning into a slippery oily mess when ray kroc said that the french fry was sacrosanct to him what he meant was that every element of its preparation was chosen for a reason chosen because it made for the optimal french fry experience kruk has a line in his autobiography where he talks about how the mcdonald's brothers taught him never to cook french fries in fat that had been previously used to cook anything else like fried chicken any restaurant will deny it he writes but almost all of them do it but crock he listened and right from the beginning he put his foot down there would be no crosscontamination of the mcdonald's cooking oil that someone who truly cares about french fries that's the legacy he created under the golden arches and then all of a sudden this random guy from omaha puts a gun demo donald's head and says change or else who long mcdonald's challenge was to find a way to replace a hard fat with a liquid fat and liquid fats are less than ideal in a deep prior that problem number one the first replacement oil mcdonald's experiments with is a cottonseed and corner blend that turns out to be really high in something called trans fats has not long before everyone realizes that trans fats are way way way worse kfi than animal fats is not even close so in two thousand and two mcdonald's changes the oils again cutting the trans fat in half six years later fitness which yet again this time to get rid of all the transfer.