We had a great session with Tony Surtees last week - talking “the great reset” and the opportunities at are coming from COVID-19.
Loved the story of “Monty Python and the Holy Grail having to imitate horses with coconuts - because of a lack of budget !!!
Tony also shared a pictorial of David Thodey’s Talk on how we might capture the CoVid-19 opportunity - from Gavin Blake
Some insites from the pictorial
- we must be ambitious and realistic
- identify that there are sectors that are seriously struggling - and will continue to struggle - airlines , cafes and events - what will replace the latent demand?
- the Aus Government have been amazing
- we must not ignore the human element - working from home and balance of life improved
- 7000cases and 102 deaths
- NBN and technology (such as zoom) has been a huge enabler
- China and 5G
- using renewables
- innovating using real time data
The Drivers of Innovation
Corporate Australia
digital enablement
small Business - having time innovate to survive
technology enablement
research and development
more investment in g th he private sector
I reckon - the opportunity to connect and collaborate and realising the importance of contribution and community!
Tony identified the 6 pivotal technologies that he believes will drive the next wave of innovation
I look forward to sharing with you insites from Tony’s talk - That came from our #BBGthinktank
Great work by Spencer Maughan and Ingrid Fung leading our latest FVIII investment in Enko Chem with our good friends at Anterra Capital and Germin8 Ventures joining in a ground breaking round for new chemical discovery. Congrats also to CEO Jacqueline Heard!
In 2019, Canva launched a workplace collaboration platform that allows designers to share tools and marketing materials.
In response to the coronavirus outbreak, the company teamed withFedEx this month to create a digital design marketplace to help small and medium-sized businesses develop branding materials.
#Chutzpah, # Change ,#Action #Vision , #Franchising, #Systems,the value of a #brand
Anthony James posted a great Insite today that popped up a day after I was having a conversation with my colleague and friends Bill Mclellan about the opportunity to buy a franchise and how to look to do something different post Covid
“Be willing to see the impossible change. Consider things you never have before. Blow the lid off your life.”
“Envision and live life without limits! - Eunice C “
Learn from those who have done it before and became successful
John Maxwell in his book - the 21 laws of leadership - a must read - talks about “breaking through “ the leadership lid -
The dude - roger bannister - who broke the 4 minute mile - no one had Don this - once he did - and people saw that it could be done - many people broke through
Experiment of bees - put in a jar -with lid. - when lid was taken off over a few days - bees could not leave the jar - they were conditioned that there was a lid there.
The dude who “started McDonald’s “ - ray kroc did a deal with the McDonald brothers - he saw a vision - the brothers did not want to change from their one store - but eventually they agreed
The McDonald’s Story
Taking Action
Kroc’s story is about vision, persistence and chutzpah - he was selling milkshake makers to restaurants - business was failing - he landed a whale - McDonald’s - whose business was growing - And who kept on ordering more shakers -
He saw a vision - left his job - to partner with them to build franchises
When Kroc had created 6 franchises he bought them out ....and paid them each $1m and a small royalty .
He pivoted - left his deadens job and state and started again - major change
Made a partnership with brothers to franchise in 1955. In 1961 n 1961, he bought the company for $2.7 million, calculated so as to ensure each brother $1 million after taxe - plus 0.5pc royalty - they had no regrets!
Standards , systems, franchise system - resulted in annual sales of $8b in 1983!
Ray Kroc fortune of $600m at time of death
Married to
Ethel 1922-1961 - 39 years
Jane 1962-1968
Joan 1968 - time of his death 1984
At time of her death in 2003 - she left her $2.7b estate to charities - $2.5b to Salvation Army to help under priviliged
Richard McDonald died leaving a will of $1.6m
The Value of the brand
The one thing that makes McDonald’s special - not just the system - that glorious name ....
About the McDonald’s Franchise
About the franchise - who makes the money ? Become a franchisee or be a part of the franchisor - An investor or a worker ?
They both do ok!!!!
$1m - Sales $2.7m pa - yearly profit of $150k - 6pc net
Contributes innovation and products
$45k up front and - rental fee 10pc And 5pc franchise - 2014 $24b revenue - $20b franchises
McDonald’s - the Franchisor makes the money
Ray Kroc and the McDonald’s Insite
They were busy - they made the best burger and the systems- they did not have the DESIRE to expand ....
It took another to blow the leadership lid and expand the vision
Some Comments from Anthony James’s article about breaking the leadership lid
This is great and inspiring Anthony J James we have to believe in ourselves and try new adventure, we have to trust and enjoy them, we can grow when we leave our comfort zone which is dreams killer to embrace new things ,keep motivating people around the world
Syveda J - a lecturer from India
Absolutely... if at all we are willing to see the impossible change, we need to change our mindset, broaden outlook, be insightful and change the way we normally think... we need to consider things we never came across before, we need to think out of the box... we need to take the risk and just let things happen as per the plan...
And
In another article he wrote
our actions are driven by the situation... generally, nobody hurts others intentionally... it's the situation, that makes one behave in a certain way. Emotional intelligence, is all that is needed, in such a situation. People who possess such a quality definitely show maturity to deal with the situation where others hurt them, intentionally or unintentionally... we need to be empathetic and definitely, mature, to understand people and their situation...
Clare Evans
Seeing the #change makes the #impossible #possible
The #problem in the #past is that #people seem to have #lost their #vision as well as #lost #sight of the #real #problem at #hand.
#micromanaging #largescale #globalproblems will never be #successful.
#identify the #rootcause then find the #system for the #solution.
One of our gems that we invested in through ADI (an incubator we owned and managed) was a company called BCODE led by an amazing 32 year old entrepreneur called Michael Mak.
He presented at our BSI investor forum - to a room packed with HnI and VCs and there was effectively a bidding war to invest in this amazing company with patented technology led by an energetic smart actuary.
Together with our small fund , we partnered with a number of VCs and high net workers individuals and raised $5m in a mixture of debt and equity.
