Friday, July 18, 2008

• Fail and Go Into Debt for Financial Success ;-)

  Henry Ford didn't believe in accountants…and he was one of the most wealthy men ever! 

   

  And he wasn't scared away by failure.  Check this out:

   

  His first company (Detroit Automobile Company) went bankrupt after 2 years.

   

  His second company (The Henry Ford Company) lasted only about a year before he was forced out and the company was renamed Cadiallac.

   

  His third company (Ford and Malcomson) got in trouble almost immediately when Henry couldn't pay his suppliers (the Dodge brothers).  Fortunately, Henry's partner was able to convince the Dodge brothers to invest in the company and was reincorporated as Ford Motor Company…which made Henry a very rich man!

   

  At Ford Motors, Henry introduced the first inexpensive car for people.  He popularized the use of assembly lines.  And he paid workers high wages to attract talent and discourage employee turnover.

   

  One day Henry's son built a new office building for an accounting division.  But Henry didn't want accountants.  The day they were suppose to move into their new building, Henry had removed all of the office supplies and furniture (even the carpeting) and fired them all!

   

  (Makes me feel less bad about carrying debt…LOL)

   

  

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