The story of McDonald's is a great one to study if you want to find more hours in the day. This post shares some of the tips I found when I studied them for a presentation recently...
McDonald's is one of the most famous brands in the world - and you may think they have little to teach small and medium-sized businesses, but if you look back to when they were founded, we can learn heaps of interesting things about the way to build a successful business...
The empire that is now McDonald's was formed by two brothers, back in 1940's America. The country was recovering from the Great Depression of the '30's and Pearl Harbour had just been bombed. But, despite that, Richard and Maurice McDonald decided to open a restaurant.
And they succeeded. They created systems that enabled them to expand and open franchises across the USA and, when they were ordering 20 multi-mixers at a time to keep up with the demand for 20,000 milkshakes a month, they caught the eye of Ray Kroc, who took the business on to build what it is today.
So what lessons can we learn from the golden arches in terms of time management?
- Utilise the power of systems - if you have procedures and processes in place, everyone knows what they should be doing and this ensures you deliver consistently every time. Script your business, so you're more effective and you know what you should be saying and when.
- Learn to delegate - you should not be the one 'flipping burgers' in your business. You should be focused on strategy and leadership.
- Invest in training - your staff need to know how to deliver the best products and services. McDonald's have their own university to train all their new franchisees, so wherever you go in the world, the product and service will be delivered in the same way.
- Invest in yourself - the more you learn, the smarter questions you ask... and the quicker you get to the answer.
- Trust your team - there is power in numbers and, with the right training, your team will deliver. If they don't, you need to look in the mirror.
Systems and automation sound boring and mundane, but they can be a life-saver. By scripting your business and using templates, you can save hours and delegate more easily. This can buy you hours of time back which could be better spent.
With more time, you have a better chance at spotting opportunities for your business - as Ray Kroc did with McDonalds. And look what he achieved, in just a few short years. (He didn't start until he was 52...so there's hope for us all yet.)
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