Joshua Kennon is a Managing Director of Kennon-Green & Co., a private asset management firm specializing in global value investing for affluent and high net worth individuals, families, and institutions. Nothing in this article or on this site, which is Mr. Kennon's personal blog, is intended to be, nor should it be construed as, investment advice, a recommendation, or an offer to buy or sell a security or securities. Investing can result in losses, sometimes significant losses. Prior to taking any action involving your finances or portfolio, you should consult with your own qualified professional advisor(s), such as an investment advisor, tax specialist, and/or attorney, who can help you consider your unique needs, circumstances, risk tolerance, and other relevant factors.

McDonald's Counter In New Store Copyright Joshua Kennon

Dealing with Business Rejection, the McDonald’s Franchise Disclosure Document, and a $114 Million Coffee Fortune

From time to time, I get messages from business owners or entrepreneurs who are discouraged and upset.  Their family, friends, colleagues, bank officers, or suppliers don’t believe in what they are trying to do and they take it personally.  This afternoon, as I sat in a McDonald’s restaurant having coffee and revisiting an excellent book called McDonald’s Behind the Arches that details the historical rise of one of the world’s largest real estate portfolio masquerading as a hamburger chain, I was reminded of a story I first read back in college that I think has a lot of powerful lessons.

Eurotruck Simulator 2 Orange 1

Kennon Logistics Is Off to a Rough Start

My niece and nephew were over at the house a couple of days ago and I ended up playing Eurotruck Simulator 2 with them as I had picked it up during one of the past Steam sales.  In it, you want to start a freight company but you have no money so you take driving jobs.  As you amass capital, you establish your own trucking business, setup a headquarters, acquire new equipment, and increase profits.  You can even program your radio to play your own mp3 files.