Henry Ford — From Humble Beginnings to Billions
How Henry Ford Rose from Farm Boy to Billionaire Status
👋 Hello, this is your weekly dose of inspiration and practical guidance. Every Friday you will receive a captivating visual timeline that charts the rise of a successful individual + lessons derived from that.
The Humble Beginnings
Henry Ford was born in Michigan on July 30, 1863. His father immigrated to America in 1847 and settled there. From quite a young age, Henry was fascinated by mechanics. When he was 16, he left his father’s farm to pursue mechanics in Detroit.
He worked various jobs until he joined the Edison Illuminating Company of Detroit in 1891. In just 2 years, he became chief engineer. He and Thomas Edison became lifelong friends.
In 1896, after spending every free waking hour refining his engine in the small shed of his rented home, Ford completed his first automobile — the quadricycle.
The quadricycle caused quite a stir and attracted financial investors. With their backing, Henry left Edison Illuminating Company and formed Detroit Automobile Company. This venture lasted only 18 months.
Shortly after winning a race in 1901, he founded the Henry Ford Company. Henry left the venture eventually, but this one thrived on its own and became the Cadillac Motor Car Company.
In 1902, he established a new world record during a race. One year later, in 1903, he founded Ford Motor Company. (3rd time is a charm)
The Birth of a Dream
In the span of 5 years, Henry went on to produce nine different cars. He became obsessed with streamlining the process of building the cars and perfecting it. Every new car model got Henry closer and closer to perfection. Up until that point in 1908, his most successful car, Model N, was sold over 7000 times.
The idea was simple. Build an expensive car, sell it to raise money for a cheaper one and repeat until perfection. He worked diligently to streamline the manufacturing process.
Nobody was ready for what would happen next…
The Acceleration of Ford Motor Company
The next car, Model T, changed the course of history. It went on to sell more than 15 million times, therefore “putting the world on wheels”.
Model T was quick to build and easy to drive. It was also very affordable, coming in at between $260 and $850 at that time(±$20,000 today).
Naturally, all this demand required the manufacturing process to be streamlined further.
In the fall of 1913, Henry Ford introduced the first moving automobile assembly line in the world.
One year later, he introduced the $5/day wage for an 8-hour shift. That was double what any other auto company was paying. Eventually, the 40-hours work week would be adopted worldwide.
Lessons from Henry Ford
Today, Henry Ford is remembered not only for having revolutionised the world, but also for his can-do attitude. Here are 2 important lessons from him:
If something doesn’t work, don’t get angry at it.
When Henry Ford was building the first iteration of the automobile, he encountered several problems. The car would often break down, but would not get angry at it. He understood that it is up to him to make it work. You can do that too by realising that every problem is just an opportunity in disguise, waiting for a solution.Persist.
Even after multiple failures, persist. Henry Ford knew that every problem is an opportunity, and that by fixing it, he would get closer to his vision. You did not come this far just to come this far.
Until next Friday,
The Chronicler