Monthly Archives: February 2016

Men who built America – 6 characteristics of the King of Oil Industry, J.D. Rockefeller

Image by History Channel

Image by History Channel

The late 1800’s were famous for capitalism where one man can accumulate a large sum of money worth multiple hundred million dollars, and equivalent to a billion dollars today. Before we have the modern innovators of today like Mark Zuckerburg of FaceBook, Bill Gates of Microsoft and Richard Branson of Virgin Corporation, American society back then were struggling after the civil war, they don’t have any source of light in the evening no electricity yet during that time. When the Sun is down, night is the king. A man saw an opportunity to redefine the existing industry. Here are the characteristics of a man who will help you move radically, achieve your greatest potential and push you to the limits. These will focus on social behavior of big people that will help you to become bigger someday.
 
Incredible work ethic – J.D. Rockefeller came from a very poor family in Ohio; his dad was known con man and also known as a Devil Bill. His dad never supported them and on a mission trying to cheat a lot of people every day to get access to their money.  However, historian says that J.D. Rockefeller needed to quit school and supported his siblings and mom. Stuck in a dead end job, he saw that oil will be the next industry and quit to take chance. He worked his way up from a rank and file employee to a businessman who can compete and eat other existing business thru his excellent thinking and aggressive approach towards making the opportunity happens.
 
He wants to outwit the competition – I don’t know with you but other people got this feeling of pleasure whenever they outsmart, outwit, and outlast the competition.  He loved winning more than ever.  He killed the competition. Achieving greatness means letting go of your existing belief system and grab that opportunity to create more value to the market. Rockefeller got the 90% share of US Oil market and that had never happened before. His company was considered to be the first monopoly.
 
Collaborate with people who are smarter than him – Steve Jobs once said that you should hire smart people to work for you; I think he got that from Rockefeller. There are many refineries during his time and it’s really risky for him to invest more but what separates him from the rest was his love for efficiency. Massive oil flakes was being wasted so he teamed up with a scientist that can make the kerosene a lot safer. He is already ahead of the game while other are doing the same thing all over again and again.
 
 
Create his way – Successful people don’t wait for the opportunity to come. Their dreams are not going to be handed to them in a silver platter saying that’s your dream manifested. When his rival millionaire, Thom Scott and Vanderbilt discontinue the service that Rockefellers company is providing to the train, he treated it as a sign of war, Now if he’s not going to think differently he will be bankrupt, that’s when laying of pipelines was the only thing he can do, it will put the railroad business out from his oil industry and can get a massive control. After couple of years he was able to do it.
 
 
Future Oriented – His tragic life as a kid, a broken family, and the success before never hindered him to play the game of business. He didn’t define his future with his past but he let that to be his motivation to get to the top.  He let those refined him like oil being transformed to create more value to a simple household.
 
 
Philanthropy – He became a millionaire and owned almost all the gas stations in America but he remembered that life is not all about accumulating money. He figured too that materialism is the root of all anxiety but giving will ease everything, he and his rival millionaire Andrew Carnegie started to give all their massive wealth to the world till the end of their lives. 
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 D  David Isaiah Angway is a RFP and a financial consultant for IT-BPO-Banking, HealthCare Industry and Manpower Agencies. He is a conference speaker and was featured in ANC On the money, Bloomberg TV Philippines. He is also columnist at BusinessMirror, Rappler, and MoneySense magazine. He is a licensed nurse and a former Senior Fraud Specialist of the largest bank in the world, JP Morgan Chase & Co.

      He is the CEO and founder of WinLongTerm Financial Consultancy, helping young urban and educated millennial (Gen Y). It sets and achieves their long-term financial goals by empowering them through behavioral finance.

 For more information and concerns subscribe to winlongterm.com Facebook page or contact me at david@winlongterm.com, here’s also my mobile number 0925-787-7796

 

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Filed under Abundance, Entrepreneurship, Mindset, Rich For Life

Men who built America part 1- Cornelius Vanderbilt

The entrepreneurialrock stars during the industrial revolution created a massive growth in the United States. When you go back in time almost 150 years ago, you will meet these visionaries who defied a lot of things to make sure their dreams come true. Studying the characteristics of these individuals will help you to move radically and achieve your great potential and think new ways. Let’s start with the man also known as  Commodore (the senior captain of a shipping line).
 
 
He was tough and decisive – At a very young age, he loaned 100 dollars to buy a ship. He thought that using his grit will help him reach financial freedom.  After a couple of years, he achieved the unthinkable; he made himself a millionaire and the leading manufacturer of the biggest ships in entire America. Vanderbilt also sees the future when he entered the railroad industry. All profit from his fleet ship manufacturing was invested to the newly formed industry. Like Vanderbilt, you can use business loans to finance your dream but remember that you need to be so obsessed with your idea and have incredible work ethic to win the game against the competition.
 
 
 
 
Hunger to win – His competitors thought that Vanderbilt can no longer compete since he’s an old man. During that time he’s already at his 70’s and the average life expectancy that time was only 55 years of age; you are either killed in war or deadly disease at late 1800’s. New businessmen came in the railroad industry, so they tried to exclude him from having deals. Later did they know, Vanderbilt saw another opportunity to declare war against his business rivals. Historians revealed that he owned the only bridge that can only pass the East coast, knowing that he decided to close it. All the competition can’t go to the other side of the country, soon they lost their profits. Wall Street heard the news and a massive fear spread to all the investors, stocks of those rival companies went down, he bought a lot of shares and Vanderbilt was able to control the majority of the railroad line. It was considered as a hostile takeover during that time but he outsmarts his competition. Failure is not an option.
 
 
 
 
Big thinkers train their successors – When he lost his favorite son from the civil war, he needed to train someone else. The old man was able to develop his younger son William in managing the business deals. Though William was less accomplished compare to his brother, Vanderbilt needed to train him like a Vanderbilt.  He understood the part that he needed to pass his entire estate to the next generation when he’s finally gone. He never let the past of losing his talented son hinder him since it will only drag misery to his business and finances.
 
 
 
 
 
 
BIG people maximize opportunities – Vanderbilt saw that the railroad industry was overbuilt during that time. Great entrepreneurs look for new opportunities to increase profits and he wanted to be back at the top. The right time came when a young oil man from Ohio named J.D. Rockefeller was introduced to the king of railroad. They made an alliance and were able to seal a deal that he can ship 60 barrels of oil everyday across America.  With the newly formed products, he was back at the top against his rival companies.
 
 
 
 
Visionaries are always ahead of the game – The king of railroad knows that he needed to differentiate himself from the rest and be better at everything. He innovates a lot and was able to control majority of the railroad line. He always keeps on giving value to a lot of people. Like what they said, innovate or your business will evaporate.
 
 
 
Entrepreneurs are ordinary people with extra ordinary dream. They think and act differently and use a lot of leverage to get ahead of the game. Profit will follow once they create value to the market. Without the creation of value you should not expect profits at all.
 
Your finances will be in a bad situationif you don't stop chilling with the wrong people (17)

David Isaiah Angway is a RFP and a financial consultant for IT-BPO-Banking, HealthCare Industry and Manpower Agencies. He is a conference speaker and was featured in ANC On the money, Bloomberg TV Philippines. He is also columnist at BusinessMirror, Rappler, and MoneySense magazine. He is a licensed nurse and a former Senior Fraud Specialist of the largest bank in the world, JP Morgan Chase & Co.

 

He is the CEO and founder of WinLongTerm Financial Consultancy, helping young urban and educated millennial (Gen Y). It sets and achieves their long-term financial goals by empowering them through behavioral finance.

 

For more information and concerns subscribe to winlongterm.com Facebook page or contact me at david@winlongterm.com, here’s also my mobile number 0925-787-7796

 

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Filed under Entrepreneurship, Personal Finance