Monday, January 30, 2012

Price of Success

As a young man Henry Ford had a love for anything mechanical. When the German inventor, Karl Berry, patented the automobile in 1886, Ford rushed to launch his own design. He quit his job with Thomas A. Edison and focused on his high performance twenty-six horse power, two-cylinder engine.

In order to bring his automobile to production, Henry tried several partnerships. None of them worked out well. He launched the Ford Motor Company in 1903. There were more than fifty other car manufacturers in the USA at that time, but none were doing mass production. Ford's innovation was the assembly line. He was out to produce strong, dependable cars at modest prices.

By 1914, Ford had 13,000 workers on his assembly line. The competitors needed 66,350 workers to match him. His Model-T Ford cost $275, where his competitor's vehicles cost more than $1,000.

Determination is the price of success.

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