GlobalBX

Henry Ford is one of the most prolific American entrepreneurs to ever have lived. Not only was he successful in his own right, but he also shaped the modern model of industry by improving his business practices and manufacturing lines. He is officially known as the founder of the assembly line today and made mass production of goods much easier and more cost effective. As a result, he is certainly an entrepreneur that individuals in the modern world can aspire to be. He was innovative, hard working and ambitious, three qualities that are essential to improve your station in the modern world.

Humble Beginnings

Henry Ford was born on July 30, 1863 in Detroit, Michigan. His parents tended a farm so the entrepreneur grew up working the land alongside his father. However, he did have an interesting hobby that was to act as a sign of things to come even at that age. He was an expert at taking watches to pieces and then reassembling them. Ford was absolutely fascinated by the mechanics of it. He had already resolved that he would not take over the family farm because he absolutely hated working the land. As such, he worked hard to achieve an apprenticeship with a machinist in Detroit.

Henry Ford moved from company to company, forming a great career as a machinist and later as an engineer at the Edison Illuminating Company, where he was promoted in 1893 to Chief Engineer. The position was extremely well paid and gave the entrepreneur the money and time he needed to be able to do what he loved – designing engines. He had discovered this passion a little earlier when he worked for a steam engine company but he wanted to experiment with engines that ran on gasoline. He did just that when he created a Ford Quadricycle in 1893. Effectively, the entrepreneur had just made his first car.

Moving Onward And Upwards

That very same year, Ford met Thomas Edison himself, who of course encouraged him to take his vision to the next level. Using this encouragement to spur him on, the entrepreneur made a second machine, which enabled him to impress William Murphy, a local lumber baron. With Murphy’s financial help, Ford opened his first business – the Detroit Automobile Company – in 1899. Unfortunately for Ford, the business failed. However, not to be discouraged, the entrepreneur looked into how the quality of the vehicles could be improved and costs lowered. Although a second venture with Murphy did work for a time, Ford refused to work with the consultant that he had brought in and left to pursue his own business ventures. The company he left became Cadillac Automobile Company, but the new company he founded became Ford Motor Company.

Ford Motor Company was founded in 1903 and soon became a huge provider of automobiles throughout the United States. At the time, people wanted affordable cars that looked as good as they ran and so the entrepreneur’s company was the obvious choice. Ford had deliberately offered his workers high wages so he did not have the problem of turnover to worry about. He had also come up with the assembly line mode of production, which made the factory much more efficient. This increased profits no end because it saved him a lot of money. It also enabled him to get more cars out on the road. The latter fact was great because every other car in America was the Model T by 1918, just 10 years after it was introduced. As a result of his dedication to providing high quality cars at affordable prices Ford saw his business go worldwide before his death in 1947. Although he may not have realised it, the entrepreneur revolutionized the motor industry and industry in general. His thinking was way ahead of his time and his methods of working are still extremely relevant today.