A great product does not guarantee success in business
May 12, 2016 6:51am CST
Many new entrepreneurs are too fixated on finding great products or producing great products. However, in the world of business, a great product is not as important as a great system. If you look at McDonald’s, you can see an example of a great system in place. You definitely can find better burgers elsewhere. However, you cannot beat the system in McDonald’s. Many McDonald’s restaurants open 24 hours a day, and 365 days a year, yet they never run out of burgers to sell to you. This will happen to many other restaurants where they run out of coffee, milk shake or fish burgers, but it will never happen to McDonald’s. This is an example of having a great system despite not having a great product. The success of a business is due to a great system, not a great product.
3 people like this
• United States
13 May 16
I have been to Mcdonalds and they were out of ketchup a few times. Once napkins as well. So they can run out! I think that the cost at Mcdonalds is so low is what gets people going back. I hate their fries. Being a vegetarian there isn't much for me to eat there.
• Guangzhou, China
12 May 16
It is very reasonable. Besides, I really appreciate the efficient service from McDonald's. Sometimes I am in a hurry and I just want to get my meal immediately and finish it as soon as possible. And McDonald's is the best choice.
13 May 16
Yes, when we think about how the business model in McDonald's breaks down all the tasks in cooking, we really appreciate the great business. Imagine asking teens just 2 years older than your son to learn cooking, and yet they are doing it very well. The instruction is clear, and the burgers are very consistent.