Success comes from failing forward, most people are afraid of failing, and you miss out on the lessons of success if you are afraid of failure.

Henry Ford became successful when the odds were against him.

Here are “7” lessons of success that we can learn from his experience.

Success is age independent.  At the age 15, Henry Ford constructed his first steam engine.

The success is not a formal education.  Ford was rumored to have a three-year formal education.

Success is filled by failure.  The Ford Motor Company was incorporated in 1903 with the Henry Ford as vice president and chief engineer.  He had two unsuccessful attempts to establish a company to manufacture automobiles.

Success is problem solving.  By early 1914, Ford had a monthly labor turnover rate of 40% to 60% in his factory because of the monotony of the assembly line work and increases in production.  He solved this problem by increasing the daily the wage to $5.00 which was unheard of at that time and cutting one hour off the workday.

Success is overcoming competition.  There were 50 startup companies a year in 1905 trying to get into the auto business and Ford succeeded.

Success is doing what you feel in your gut is right, despite public opinion. Ford’s daily wage increase plan was called by the Wall Street Journal “an economic crime,” and Ford was scorned by critics everywhere as “Fordism”.

Success is seeking out those who can help you with your goals.  Ford found 12 people in 1903, that were willing to invest $28,000 in another motor company.  Then he was able to begin the production of the Model A car.  In 1907, the profits reached $1,100,000 because the cars sold well.  Ford in 1909, decided to manufacture only one type of car and that was the Model T, which change automotive history forever.

Quote

“If you think you can do a thing or think you can’t do anything, you’re right.” -Henry Ford (1863-1947)