The Henry Ford Mindset

[geekboy]

I’ve been thinking about this story quite a bit recently so thought I’d share it for those who haven’t heard it before. It always helps to keep me going if I feel like giving up or am stuck on a problem.

It’s from Napoleon Hill’s ‘Think & Grow Rich’ and is very revealing about Ford’s mindset and I think also the mindset of a lot of successful entrepreneurs:

A few years back, Ford decided to produce his now famous V-8 motor. He chose to build an engine with the entire eight cylinders cast in one block, and instructed his engineers to produce a design for the engine. The design was placed on paper, but the engineers agreed, to a man, that it was simply impossible to cast an eight-cylinder gas engine block in one piece.


Ford said, "Produce it anyway."

"But," they replied, "It’s impossible!"

"Go ahead," Ford commanded, "And stay on the job until you succeed no matter how much time is required."


The engineers went ahead. There was nothing else for them to do, if they were to remain on the Ford staff. Six months went by, nothing happened. Another six months passed, and still nothing happened. The engineers tried every conceivable plan to carry out the orders, but the thing seemed out of the question; "impossible!"


At the end of the year Ford checked with his engineers, and again they informed him they had found no way to carry out his orders. "Go right ahead," said Ford, "I want it, and I'll have it." They went ahead, and then, as if by a stroke of magic, the secret was discovered.

The Ford DETERMINATION had won once more!

This story may not be described with minute accuracy, but the sum and substance of it is correct. Deduce from it, you who wish to THINK AND GROW RICH, the secret of the Ford millions, if you can. You'll not have to look very far. Henry Ford is a success, because he understands, and applies the principles of success. One of these is DESIRE: knowing what one wants. Remember this Ford story as you read, and pick out the lines in which the secret of his stupendous achievement have been described. If you can do this, if you can lay your finger on the particular group of principles which made Henry Ford rich, you can equal his achievements in almost any calling for which you are suited. ​

Ford didn’t concern himself with what the ‘experts’ told him. Most people’s problem is they’re too influenced by what others think or say.

Ford was driven by his own internal compass. He knew what he believed and just calmly followed through with that belief, regardless of all the noise around him. He knew that that a definite goal with enough persistence can most likely be achieved. If hundreds or even thousands of people told him something cant be done, Ford wouldn't of taken the slightest bit of notice.

Always makes me laugh thinking about it:

Engineer: 'NO, you don’t understand. IT CAN NOT BE DONE'
Ford: 'Yep, go right on ahead'

 

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[MoneyDoc]

Usually most "experts" barely make a living.

 

[Deleted21704]

It extended to the way he thought about business and finance in general:

My idea was then and still is that if a man did his work well, the price he would get for that work—the profits and all financial matters—would care for themselves and that a business ought to start small and build itself up and out of its earnings. If there are no earnings, then that is a signal to the owner that he is wasting his time and does not belong in that business. I have never found it necessary to change those ideas, but I discovered that this simple formula of doing good work and getting paid for it was supposed to be slow for modern business. The plan at that time most in favor was to start off with the largest possible capitalization and then sell all the stock and all the bonds that could be sold. Whatever money happened to be left over after all the stock and bond-selling expenses and promoters, charges and all that, went grudgingly into the foundation of the business. A good business was not one that did good work and earned a fair profit. A good business was one that would give the opportunity for the floating of a large amount of stocks and bonds at high prices. It was the stocks and bonds, not the work, that mattered. I could not see how a new business or an old business could be expected to be able to charge into its product a great big bond interest and then sell the product at a fair price. I have never been able to see that.

Source:
http://www.laphamsquarterly.org/voices-in-time/henry-ford-on-the-road-to-riches.php?page=all

It sounds like he's describing the business environment we have right now. He said that in 1922.