John D. Rockefeller on Making Money: Advice and Words of Wisdom on Building and Sharing Wealth
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About this ebook
John D. Rockefeller is considered to be the wealthiest man to have ever lived, after adjusting for inflation. An American businessman who made his wealth as a cofounder and leading figure of the Standard Oil Company, he also had a pivotal role in creating our modern system of philanthropy.
Collected in John D. Rockefeller on Making Money are the words from the man himself, offering advice on how to successfully start and manage a booming business, as well as the most efficient ways to preserve your wealth once you have acquired it. These quotes also cover:
Happiness in the face of great wealth
Money and its effects
Thoughts on facing public criticism
Thoughts on big business in the USA
Included are John D. Rockefeller’s thoughts on the most sage and conscientious manner of distributing and sharing your wealth when your wealth is overflowing. Finally, we get a glimpse into Rockefeller’s life with the inclusion of some of his most personal correspondence.
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Reviews for John D. Rockefeller on Making Money
20 ratings5 reviews
- Rating: 5 out of 5 stars5/5Great read, with principles still relevant today for worthy living
- Rating: 3 out of 5 stars3/5Fair principles
Focus in one thing to the exclusion of Al others - Rating: 5 out of 5 stars5/5I say I love this book, I love how he did the quotes in the book to understand the wealth principles to understand money each of the quotes he put down for the majority of the man back in the day, I can tell rockfeller was different back in the day because he was manage his money to live a good life he also talk about the properties he owns like the standard oil company, and vaccum oil company, and he talk the stocks he put his money in to work for him
- Rating: 5 out of 5 stars5/5Great Principles about Life, Business ,Education & Wisdom. Duty to the World, .
Changed my Mind About John D Rockefeller. - Rating: 4 out of 5 stars4/5The book has great words of wisdom. It is short and to the point. I wish it had a better ending, as it ends with letters sent to John D. Rockefeller.
Book preview
John D. Rockefeller on Making Money - John D. Rockefeller
CHAPTER 1
BIG BUSINESS IN AMERICA
Competition is a sin.
I would rather earn one percent off one hundred people’s efforts than one hundred percent of my own efforts.
The day of individual competition in large affairs is past and gone—you might just as well argue that we should go back to hand labor and throw away our efficient machines—and the sober good sense of the people will accept this fact when they have studied and tried it out.
In all times past, the weak man in the competition dropped out and was lost sight of. These men for years were importuned to join hands with those who were stronger and ready to pull them out from their embarrassments and fit them in to be useful in the administration of the Standard Oil Company so far as they had integrity, intelligence, enterprise and industry to warrant the expectation that they could be stones in the foundation of the great structure, the likes of which the world had never seen.
It is too late to argue about advantages of industrial combinations. They are a necessity. And if Americans are to have the privilege of extending their business in all the states of the Union, and into foreign countries as well, they are a necessity on a large scale, and require the agency of more than one corporation.
The dangers are that the power conferred by combination may be abused, that combinations may be formed for speculation in stocks rather than for conducting business, and that for this purpose prices may be temporarily raised instead of being lowered.
The Standard Oil Company has been one of the greatest, if not the greatest, of upbuilders we ever had in this country—or in any country. All of which has inured to the benefit of the towns and cities the country over; not only in our country but the world over. And that is a very pleasant reflection now as I look back. I knew it at the time, though I realize it more keenly now.
The country’s resources have not been cut down nor injured by financial distrust. A gradual recovery will only tend to make the future all the more secure, and patience is a virtue in business affairs as in other things.
We had vision, saw the vast possibilities of the oil industry, stood at the center of it, and brought our knowledge and imagination and business experience to bear in a dozen—twenty, thirty—directions. There was no branch of the business in which we did not make money.
It will be said: Here was a force that reorganized business, and everything else followed it—all business, even the government itself, which legislated against it.
Beyond question there is a suspicion of corporations. There may be reason for such suspicion very often; for a corporation may be moral or immoral, just as a man may be moral or the reverse; but it is folly to condemn all corporations because some are bad, or even to be unduly suspicious of all, because some are bad. But the corporation in form and character has come to stay—that is a thing that may be depended upon.
I don’t want a nation of thinkers; I want a nation of workers.
Don’t blame the marketing department. The buck stops with the chief executive.
Good management consists of showing average people how to do the work of superior people.
The growth of a large business is merely a survival of the fittest … The American Beauty rose can be produced in the splendor and fragrance which bring cheer to its beholder only by sacrificing the early buds which grow up around it. This is not an evil tendency in business. It is merely the working-out of a law of nature and a law of God.
The day of combination is here to stay.