Once Ray Kroc gave a lecture at Harvard Business School. Afterwards he met with some Graduate Students who invited him out to dinner.

As they made the rounds in Boston that night, and with a few drinks under their belt, Kroc asked them what business they thought he was in.

Feeling confident, and that the answer was obvious, they said hamburgers.

Kroc replied, not even close.

What was the trajectory of Ray Kroc’s life that led him to that barside conversation in Boston; what eventually gave him the bragging rights to billions-of-billions served through his Golden Arches food chain?

In 1954 when he went to pitch the McDonald Brothers on the latest milkshake mixers he was selling, how far had he already come?

He was 52 years old, was a World War I Veteran, used to be a piano player in a jazz band, once sold paper cups, tried his hand in real estate, only to fail miserably, and now was selling milkshake machines to local diners.

You can see how important the role of mindset had to play in his life.

This would’ve been the end for most guys in his situation.

At most, he might’ve had a comfortable retirement, the latest
Buick or Chevy in the driveway, perhaps vacations in Florida.

Why risk it?

Failing Forward

But we all know how this story ends.
Failure defeats some people, while motivating others. Undeterred, Kroc used his experience and connections from everything he did prior to franchising McDonald’s.

He even offered his old Army buddy, Walt Disney, the right to open a McDonald’s at the launching of Disneyland.

That deal fell through, but it didn’t matter.

Kroc moved forward.

And by 1961, he was able to buy out the McDonald Brothers’ stake in the franchise for $2.7 million.

New Horizons

It’s pretty easy to think, “well that was Ray Kroc…I can’t do that! What do I know about…?” (Fill in that blank)

We all do it, we see our shortcomings as obstacles, rather than opportunities for learning and growth.

But guess what, no one ever starts something as an expert!

Did you know, Elon Musk was never trained as a Rocket Scientist or a Mechanical Engineer?

Yet his conglomerate has exclusive contracts for Space exploration, and I can’t even remember the last time I went more than five miles without seeing about half a dozen Teslas on the road.

The second stumbling block in mindset is thinking that you don’t have the money or the connections to pull off your dream.

There’s something called OPM.
It’s an acronym for Other People’s Money, and it has been around since the beginning of finance.

If your house has a mortgage, then you already have a basic understanding of what it is.

It means that even if Elon Musk has a couple of mil sitting in a bank from his daddy’s trust fund, he will NEVER use it to fund his business ventures.

He’s the Boss, and Bosses think outside of the box.

This is the reason BBig Financial Solutions opened its doors.

We show the people who want to change their mindsets how to think outside the box.

The best part about it is, unlike your mortgage, you don’t have to pay the loan back.

The Answers

So what answer did Ray Kroc give to those Grad students in Boston all those years ago?

Was he in the business of branding, sales and advertising?

Think of every catchy phrase and tune you can remember from a Mcdonald’s commercial – from “I’m Lovin’ it!”, to “Three All-Beef Patties, Special Sauce, Lettuce-Cheese!”

Kroc definitely had a knack for that.

Was he in the restaurant and food industry?

Let me tell you, as a former chef, I’ve known some of the worst line cooks in the industry who can still make a better burger than Mcdonald’s.

Also, a little trade secret, once you’ve made thousand island dressing, that special sauce on your beef pattie doesn’t seem so special anymore!

Was it Real Estate?

Aside from being one of the most recognizable franchises, Mcdonald’s is also one of the top landholders in the world.

Ray Kroc left those students to decide for themselves what the answer was.

The same goes for you and me.