YearToSuccess

4 – Inspiration from Henry Ford

Henry ford was founder, VP and chief engineer of Ford Motor Company.

Success is age independent – Henry Ford constructed his first steam engine at age of 15.

Success is not formal education – Ford’s formal education was limited to be about 3 years.

Success is fueled by failure – After 2 unsuccessful attempt to establish automobile company, Ford Motor was incorporated in 1903 with Henry as VP and chief engineer.

Success is problem-solving – Even after unpleasant monotony of assembly-line work and repeated increase in production quotas assigned to workers, monthly labor turnover increased to 60 from 40 percent because of doubling daily wage and shaving one hour off the workday by Henry ford.

Success is overcoming competition – In 1905, 50 start-up companies tried into auto business, and ford succeeded.

Success is doing what you feel in your gut is right, despite public opinion – Wall street journal called raise to daily wage an “economic crime” and critics coined pejorative term “Fordism” to reflect disgust in ford’s practice.

Success is seeking out those who can help you with your goals – In 1903, ford found twelve people willing to invest a total of $28k in motor company. Ford begin production of Model A car which sold well and company’s profits reached $1,100,000 in 1907.

From book “Year to Success” by Bo Bennett

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