Business Breakdowns: “The Founder” Ray Kroc and the Story of McDonalds |  E1872

This Week in Startups is brought to you by… Curotec. Are you one of those companies that knows you need to be using AI, but you're not even sure where to start? Well then you need Curotec. They are AI experts, and they're offering TWiST listeners an AI Strategy Roadmap tailored to your business for $5000. That's 50% off the normal cost just for telling them we sent you. Check out http://www.curotec.com/twist  and get $5000 off!

Northwest Registered Agent. When starting your business, it's important to use a service that will actually help you. Northwest Registered Agent is that service. They'll form your company fast, give you the documents you need to open a business bank account, and even provide you with mail scanning and a business address to keep your personal privacy intact. Visit http://www.northwestregisteredagent.com/twist to get a 60% discount on your next LLC.

Masterworks. The first company allowing investors exposure into the blue-chip artwork asset class. TWIST listeners can skip the waitlist by going to ⁠https://www.masterworks.com/twist and using promo code TWIST.

*

Today’s show:

Lon Harris sits down with Jason to examine product-market fit and market-pull and their role in McDonalds' success (21:11), the importance of complementary skill sets between founders within any startup.(32:41), the path of doubt, fear and uncertainty that founders experience (45:29), and more!

*

Timestamps:

(0:00) Lon Harris joins Jason

(3:35) Lon brings us quick hits on the film The Founder.

(9:30) Lon shares his admiration for the film

(10:16) Jason discovered the film through a curious link with Mark Knopfler.

(12:02) Curotec - Check out http://www.curotec.com/twist and get $5000 off

(16:00) Delving into the McDonalds' story

(17:47) Discussion on a common entrepreneurial revelation: efficiency and customer focus

(21:11) Examining product-market fit and market-pull in "The Founder" and its role in McDonalds' success.

(24:09) Northwest Registered Agent - Get a 60% discount on your next LLC at http://www.northwestregisteredagent.com/twist

(25:36) Building a series of innovations will create enormous value.

(27:35) Ray Kroc takeaway: the pursuit of relentless self-improvement on the way to his one big win.

(32:41) The importance of complimentary skill sets between founders within any startup.

(34:25) Masterworks - Skip the waitlist to invest in fine art at https://www.masterworks.com/twist

(35:43) Exploring strengths and criticisms of the franchise model.

(41:36) The role of spouses in startup formation

(45:29) The path of doubt, fear and uncertainty that founders experience before any winning.

(49:54) Lessons around deal-making and negotiation.

(1:00:07) The power struggle between the McDonald brothers and Ray Kroc

(1:02:43) Discussing the significance of equity and stock ownership in business

(1:08:26) Ray Kroc’s brilliance came from his power to observe value and opportunity.

(1:16:51) Business Breakdown Awards for “The Founder”

*

Thanks to our partners:

(12:02) Curotec - Check out http://www.curotec.com/twist and get $5000 off

(24:09) Northwest Registered Agent - Get a 60% discount on your next LLC at http://www.northwestregisteredagent.com/twist

(34:25) Masterworks - Skip the waitlist to invest in fine art at https://www.masterworks.com/twist

*

Follow Lon:

X: https://twitter.com/Lons

*

Follow Jason:

X: https://twitter.com/jason

Instagram: https://www.instagram.com/jason

LinkedIn: https://www.linkedin.com/in/jasoncalacanis

*

Great 2023 interviews: Steve Huffman, Brian Chesky, Aaron Levie, Sophia Amoruso, Reid Hoffman, Frank Slootman, Billy McFarland

*

Check out Jason’s suite of newsletters: https://substack.com/@calacanis

*

Follow TWiST:

Substack: https://twistartups.substack.com

Twitter: https://twitter.com/TWiStartups

YouTube: https://www.youtube.com/thisweekin

*

Subscribe to the Founder University Podcast: https://www.founder.university/podcast