In episode #79 of the Be Better Off Show, I speak with Peter Ritchie AO, the visionary who brought McDonald’s to Australia and transformed it into a powerhouse. We discuss leadership, overcoming challenges, and the impact of investing in people.

1. The value of risk-taking
   Peter’s journey with McDonald’s Australia started with an unexpected opportunity. Despite initial doubts, he took a leap of faith, setting the foundation for a transformative career.
2. Courage in leadership
   Peter emphasised that true leadership means accepting full responsibility while maintaining consistency, fairness, and justice. Leaders must project energy and foster environments where teams thrive.
3. The importance of training
   Confronted with high labour costs, Peter committed up to 30% of annual profits to training for five years. This strategy turned McDonald’s Australia into a global benchmark for productivity.
4. Building confidence through competence
   Peter stressed that genuine self-confidence in leadership comes from deep competence, cultivated through structured training, feedback, and measurable outcomes.
5. Turning failure into success
   It took McDonald’s Australia seven years to become profitable. Peter’s perseverance, backed by key figures like Fred Turner, enabled the company to overcome challenges and succeed.
6. The power of collaboration
   By involving partners, franchisees, and mentors, Peter ensured McDonald’s was built on strong relationships that fostered shared growth and success.
7. Adaptability and innovation
   Peter attributed McDonald’s success to its willingness to test, learn, and pivot—such as recognising the pivotal role of marketing in the late 1970s.
8. Focus on values
   Peter’s commitment to community and philanthropy is exemplified by his role in establishing Ronald McDonald House Charities in Australia, which continues to support families of sick children.
9. Visionary leadership
   Peter’s forward-thinking approach turned McDonald’s Australia from struggling stores into an industry leader by embracing global best practices and planning for the long term.
10. Lessons in humility
    Despite his extraordinary achievements, Peter remains grounded, acknowledging the contributions of his team and the ongoing lessons he learns from others.
    
    
    

Top 10 highlights:

1. In 1961, David’s mother rejected apartheid, leaving South Africa with four kids under seven—teaching him courage and the value of principles.

2. David chose UNSW over the traditional Sydney Grammar-to-Sydney University route, drawn to its hardworking, innovative “immigrant” culture.

3. Advising billionaires like Frank Lowy and Kerry Packer, David became their honest sounding board—unafraid to challenge or say no.

4. Early as a lawyer, David loved debate but learned that listening to clients, peers, and partners creates better outcomes.

5. As chairman, David sees himself as the conductor—ensuring every voice is heard while the CEO takes centre stage as the soloist.

6. David’s day is planned: he leaves at 7 AM, starts with 40 minutes of quiet preparation, and is home by 7:30 PM for dinner, a commitment he keeps.

7. Three mentors shaped David: Kim Santow taught balance, Fred Street inspired thoughtful giving, and Frank Lowy guided him in strategy.

8. Trusting his children in the family office taught David that giving responsibility builds confidence and capability.

9. Inspired by his father, who worked until 86, David sees work as lifelong—shifting focus to projects that energise and inspire.

10. Despite his success, David remains grounded, valuing hard work, helping others, and community. Humility, he believes, is true leadership.

Top 10 highlights:

1. John Howard’s upbringing in Earlwood, near Canterbury, shaped his early interest in politics. His family encouraged open debates about politics and religion, fostering his curiosity.
   
   

2. Cricket was a defining part of his childhood. Howard played for local teams with his brothers, relishing family connections through sport. His love for the game carried into his adult life, shaping his discipline and focus.
   
   

3. Howard credits his resilience to his upbringing and strong family bonds. Losing his father at 16 deepened his sense of responsibility and determination.
   
   

4. He believes leadership is about making your beliefs clear and staying true to them, even if controversial. “At least I know what he believes in” was a compliment he valued.
   
   

5. Howard cited Winston Churchill as his leadership model—acknowledging mistakes but getting the big decisions right. He admired Churchill’s foresight during the rise of Nazism.
   
   

6. His proudest achievements include gun law reforms, tax reform, and industrial relations changes. He recalls being approached by citizens, even critics, acknowledging the importance of the gun reforms.
   
   

7. Howard values Australia’s democratic system, crediting it for avoiding the pitfalls of U.S. presidential politics, which he sees as flawed.
   
   

8. On multiculturalism, Howard supports diversity but believes in integrating into a shared national identity rather than emphasizing differences.
   
   

9. Homeownership remains a critical issue for Howard. He sees restricted land supply as a root cause and believes younger generations deserve the opportunity for stability through owning property.
   
   

10. Reflecting on his career, Howard attributes his longevity in politics to maintaining strong connections with colleagues, being accessible, and remaining clear in his principles.