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Millionaire Rule # 1: Ask Questions

 

 

Ask Questions 300x188 - Millionaire Rule # 1: Ask Questions

 

When two brothers, named McDonald, ordered eight multi-mixers for their hamburger stand in San Bernardino, California, Ray Kroc, a multi-mixer machine salesman, knew he was on to something. He acquired the rights to the McDonald name and opened his first franchise in Des Plaines, Illinois in 1954. The rest, as they say, is history. Ray Kroc, in his fifties, seized the opportunity that was staring him in the face. It was not a complicated concept: hamburgers, French fries, and milkshakes. Today, the average McDonald restaurant franchise brings in a $1.4 million per year.

 

Ray Kroc asked questions about the business he was interested in, how things work, the economy, etc. He created a business model based on his findings by asking questions about the business and what keeps the customers coming back for more. It turned out to be a basic business that money makes money hand over fist. It doesn’t matter what the business is. It can be a product or service, and when you add your value and expertise to the mix, you can be very successful. However, making money is at its core.

 

Another example is a research chemist, Neil McCarthy who started investing in the stock market in the 70’s when he was 34 years of age. When stocks went down, he purchased more contributing to his IRA and 401K. His employer matched it 100% giving him risk-free money. It was during the 90’s bull market when he received a huge payoff because his stock doubled in three years, allowing him to reach $1 million.

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