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Business Ideas – 3 Business Lessons From Henry Ford

Business Ideas – 3 Business Lessons From Henry Ford

 

henry ford

 

Today we’re going to look at how an entrepreneur who was told he wouldn’t last six months in business refused to give up and went on to become one of the wealthiest men in the world. This is the story of Henry Ford and the top 3 lessons that you can learn from his success.

 

“You can do anything if you have enthusiasm.” – Henry Ford

 

Henry Ford (July 30, 1863 — April 7, 1947) was an American business icon and founder of the Ford Motor Company. He was the son of Irish immigrants and from an early age showed an interest in engineering. He set out to learn as much as he could and took various apprenticeships and jobs with manufacturing companies.

 

When he was 36 years old he invented the Quadricycle in his spare time. It was two bicycles attached together, powered by a gasoline engine. It was a very primitive car. After refining the vehicle he went to see William H. Murphy, a lumber tycoon and investor in Detroit, who took it for a test drive. Murphy agreed with Ford that gasoline-powered vehicles would be fuelling the future and the two instantly formed a partnership. Henry Ford was in business.

 

Ford not only revolutionized the manufacturing industry with assembly line mass production, he also became one of the richest and most well-known people in the world. According to Forbes, his net worth in today’s dollars would be $188.1 billion, over three times richer than Bill Gates.

 

 

Action Item #1: Don’t Quit
Action Item #2: Focus on Quality
Action Item #3: Build a Team

 

 

True Story

 

When Henry Ford implemented his assembly line idea he found that his workers were quickly getting burnt out doing the same thing over and over again. To attract the best people, Ford recommended to his stockholders that they pay the workers $5 per day, twice the daily average wage. His stockholders said no so Ford bought them out, implemented his $5 a day salary and quickly had people lining up to work for him.

 

 

More Quotes

 

“Wealth, like happiness, is never attained when sought after directly. It comes as a by-product of providing a useful service.”

 

“A market is never saturated with a good product, but it is very quickly saturated with a bad one.”

 

“Most people get ahead during the time that others waste.”

 

Confessions of a Futurist: Sheryl Connelly

Confessions of a Futurist: Sheryl Connelly

Sheryl Connelly is manager of global trends and futuring for Ford Motor Company, tracking shifts and trends in topics as far reaching as the environment, politics and millennials and analyzing those shifts to predict consumer preferences. Her insights inform the company’s automotive design, product development and corporate strategy and help anticipate the needs and desires of car buyers. Sheryl, a licensed attorney with an M.B.A. and a bachelor’s degree in finance, also teaches design research at the Center for Creative Studies in Detroit, MI. She has guest lectured at Massachusetts Institute for Technology, University of Michigan, and Wharton School of Business. She has also been featured in Forbes, the Wall Street Journal, Reuters, Financial Times and on the BBC.

 

Achievement Quotes

Achievement Quotes

“There is joy in work. There is no happiness except in the realization that we have accomplished something.”
Henry Ford Founder Of Ford Motor Company (1863-1947)

“You can do anything if you have enthusiasm. Enthusiasm is the yeast that makes your hopes rise to the stars. With it, there is accomplishment. Without it there are only alibis.” 
Henry Ford Founder Of Ford Motor Company (1863-1947)

The height of your accomplishments will equal the depth of your convictions.”
Willam F. Scolavino

“If you have an important point to make, don’t try to be subtle or clever. Use a pile driver. Hit the point once. Then come back and hit it again. Then hit it a third time – a tremendous whack.”
Sir Winston Churchill British Statesman, Prime Minister, Author, Nobel Prize Winner (1874-1965)

“Patience, persistence and perspiration make an unbeatable combination for success.”
Napoleon Hill Motivational Author (1883-1970)

 

Ford CEO on Lincoln rebirth

Ford CEO on Lincoln rebirth

Alan Mullaly says that Lincoln MKZ is only the beginning of the rebirth of the 90 year old car brand.

 

Rothschild Family Fortune More Than $1 Trillion

Rothschild Family Fortune More Than $1 Trillion

The author of America: Land of the Free? provides an estimation of the Rothschild family fortune based on historical records and financial calculations.

Alan Mulally of Ford: Leaders Must Serve, with Courage

Alan Mulally of Ford: Leaders Must Serve, with Courage

Alan Mulally, President and Chief Executive Officer of the Ford Motor Company, discusses the turnaround effort at Ford, which took the automaker from an annual loss of $17 billion in 2006 to its most profitable period in more than a decade. Mulally explains that leadership takes courage, to have a point of view about the future and to pursue it in the face of resistance and doubt, in service of something great.

 

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