If there is something business people and entrepreneurs from today should value from important business men that were part of the development of the United States of America, is their experience and their achievements not only as businessmen but as persons, as individuals. More than all the legacy, transformed into companies, banks, buildings and physical assets, is it actually the knowledge behind all of that what is most valuable. The so-called “financial titans”, responsible for encouraging and making this country stronger and more developed are John D Rockefeller, Andrew Carnegie, J.P. Morgan, Cornelius Vanderbilt, and Henry Ford.
Everything they learned from their multiple moments of crisis, obstacles and hard decisions they ever faced is what helped Americans build the country of today. Great industrial developments, huge advances in capitalism and more importantly, unique accomplishments in the economy and the history of a country that became stronger because of the actions of a small group of men, who one by one, never gave up or stopped believing in what they were capable of.
Today, and according to Patrick Dwyer, all the lessons and conclusions these men acquired, are tools that can be applied even to the modern world. Take a look at the 8 most important business and life tips these financial titans would give us today if they were alive.
Click here to read our recent post about “Rockefeller: from America’s most hated to America’s greatest donor”
Money does not guarantee happiness
Even though these men were financially powerful, they had the most developed and growing businesses in that moment, nevertheless, they were never popular for having great, happy families or lives. Money seems to be their greatest achievement but that will not always include living in a happy relationship and growing a loving and caring family.
Rockefeller became rich and famous because he came up with using a product or fuel that during the refining process was being thrown away. After his innovative idea, this fuel became the number one fuel for the first version of carriages that were not pulled by horses. That is how Rockefeller became rich. He invented a better version of something that had already a good place in the market.
If you are going to risk it, risk it big
Everybody knows the bigger the risk is, the bigger the reward will be. It is actually how many things in the world work. Lower risks will offer more stability but if a big risk succeeds, the joy will not only be bigger, it will bring a much-unexpected sensation of happiness and a certain relief.
Keep your eyes open for opportunity
These titans of American history were absolutely visionary. They would recognize the smell of a good opportunity right away. The important thing here is to keep your eyes open and evaluate all the possible options that could bring many business opportunities, without even thinking about it.
Choose your partners right
Partnerships can determine the future of any organization. It doesn’t mean you found the perfect match just because you like a person. Partnerships go way beyond empathy and in this case, a good networking is actually of great value. Building the right team will start to show the good effects of it. A good partner or teammate is an additional resource you can rely on when you need it the most.
The biggest rule is there are no rules
Everything is possible and allowed, as long as it will bring profit and benefits. Adaptability has a lot do with the plans these businesses are headed to. Since it was the first time for many things, rules didn’t really matter. Any new idea was welcome and everyone tried being open about the new decisions.
Success and wealth come when your product or service resolves a problem or a need many people have
This tip has a lot to do with being visionary, but also with always paying attention to those things people need or complain about. In the case of the titans, for instance, Henry Ford, provided cars that anyone could purchase, because of the low price, but the good quality at the same time, on the other hand, John D, Rockefeller provided kerosene to those who needed the light. This way each one of them became the author of revolutionary ideas that had the power to change the world forever.
Never underestimate consumers
Consumers have the power to transform the importance of a product or service, once a need is solved. They will be the authors of new trends which is why it is so important to always pay attention, to every single step consumers take and therefore how the market starts changing, responding or adapting to the new needs of those consumers that need it the most.