McDonald’s Before Kroc; 33% Survival; Mind Reading; Econ Recon: Brexit Redux?; Election One-Liners

Lessons from McDonald’s (BEFORE Ray Kroc)

One of the true American success stories is McDonald’s.  The person usually associated with this is Ray Kroc, who was selling milk shake blenders and stumbled across two brothers named McDonald and their California hamburger stand.  The rest may be history but what happened before Kroc walked in their door is as instructional as what happened after Kroc entered the scene.

Every would- be (and current) business owner should study this article from Smithsonian Magazine which recounts the trials and tribulations Maurice and Dick McDonald endured for decades before the Golden Arches dotted the American consumer landscape. The McDonalds had already introduced many of the practices that made the company great including an early form of franchising before Kroc showed up.  Kroc’s contribution was to take the brothers’ insights and innovations to the next level.  “The Story of How McDonald’s First Got Its Start” is a cautionary and inspiring tale of dreams, failure, poor judgment, brilliant insights, persistence, creativity, luck… and how the business you start is not always the business you end up in.

Will Yours be the One out of Three (That Survives)

Lots of Baby Boomers business owners are starting to look for the exits. Vistage Speaker (and Member) Scot Hunsaker notes that only one in three companies will survive an ownership transition. And he should know; he bought his family’s business from his father, grew it 10X, sold it to the employees and has run six others.

A recent five minute radio interview with Scot highlights what Boomers (and Millennials a few decades from now) can do to be “the one out of three.” If you find Scot’s comments worth further investigation, check out his website for more info.

Election One-Liners

The 2016 presidential race is mercifully over. The 24 hour news cycle has provided no end of commentary and in-depth analysis, but you may find some short and pithy observations from history about politics and elections more enlightening, or at least amusing. As our last respite from all the electioneering, check out these election one-liners:

If God wanted us to vote, he would have given us candidates. ~Jay Leno~

The problem with political jokes is they get elected. ~Henry Cate~

We hang the petty thieves and appoint the great ones to public office. ~ Aesop~

If we got one-tenth of what was promised to us in these State of the Union speeches, there wouldn’t be any inducement to go to heaven. ~Will Rogers~

Politicians are the same all over. They promise to build a bridge even where there is no river. ~Nikita Khrushchev~

When I was a boy I was told that anybody could become President; I’m beginning to believe it.  ~Clarence Darrow~

Politicians are people who, when they see light at the end of the tunnel, go out and buy some more tunnel. ~John Quinton~

Why pay money to have your family tree traced; go into politics and your opponents will do it for you. ~Author unknown~

Politics is supposed to be the second-oldest profession. I have come to realize that it bears a very close resemblance to the first.  ~Ronald Reagan~

Politics is the gentle art of getting votes from the poor and campaign funds from the rich, by promising to protect each from the other.  ~Oscar Ameringer~

I offer my opponents a bargain: if they will stop telling lies about us, I will stop telling the truth about them.  ~Adlai Stevenson, 1952~

A politician is a fellow who will lay down your life for his country.  ~ Tex Guinan~

I have come to the conclusion that politics is too serious a matter to be left to the politicians.  ~Charles de Gaulle~

Instead of giving a politician the keys to the city, it might be better to change the locks.  ~Doug Larson~