John Rockefeller and his success story

Probably, there is no such person today who would be unfamiliar with the name of John Rockefeller. This world-famous man thanks to his hard work and unwavering perseverance was able to get the biggest income of the 20th century. His name is still associated with the word "wealth", and his example is another proof that, setting a goal, even from nothing you can" make " a fortune. An unambiguous answer to the question, what exactly is the basis of such a significant success of Rockefeller, it is impossible, but everyone who decides to try himself in business, one way or another, chooses him as an example to follow.

Childhood

John Rockefeller was born in 1839 in new York city. His father was a very successful businessman and his mother was a housewife. John himself said that it was his father who taught him the basics of business, since childhood, telling him about the intricacies of running his business. It was from him that Rockefeller learned how to run his business.

At the age of eight, he began to earn his first money of his own – small sums that were paid to him by the inhabitants of neighboring estates for help in caring for the garden or Pets. Even at such a young age, Rockefeller understood that accounting is important for any business, so he began to write down all his income and expenses in a notebook. So he could track his profits. It wasn't just his father who taught him. His mother also contributed to his successful future – she taught him to save, so his savings were regularly replenished.

At 13, John's savings allowed him to make his first deal – to give a loan at a small interest to a neighbor farmer.

First job

After high school, Rockefeller goes to College to learn the basics there accounting and Commerce, but after studying there quite a bit, he realizes that only wasting time. In his opinion, much more experience and knowledge can be gained in practice, so after an accelerated three-month course of accounting, he goes in search of work.

Only after two months of active search John finally take on a modest position of assistant accountant. However, thanks to his diligence and discipline, he quickly becomes one of its managers. However, he worked there for a long time – because of the too low salary assigned to him by his superiors, John had to resign. After being fired from his first job, he was never an employee again, working all his life for himself.

First own business

His first own business Rockefeller opened together with entrepreneur Maurice Clark. Together they founded a firm that sells agricultural products. With the outbreak of the civil war, the volume of applications received by them has increased dramatically, and money for their implementation was sharply lacking. The only way out in this situation was to apply to the Bank for a loan. Going to the Bank, John was absolutely sure that he would not refuse. He told the Bank the whole story, and the Manager was so impressed with his honesty that he agreed to give him a loan.

After some time, Rockefeller became a very rich man, but the desire to move on, to develop and learn something new never left him. He became interested in oil, and this interest opened up new horizons for him. John met a chemist who told him about the kerosene used for the production of oil and this once again confirmed that the desire of Rockefeller to engage in oil production is correct. So there was a company Standard Oil, producing and refining oil. After it became stronger and began to generate a steady income, John began to acquire small oil companies.

«Oil king»

In a short time, Rockefeller was able to virtually monopolize the oil industry of the United States. He owned 95% of all oil companies in the country, and in 1880 his company Standard Oil was recognized as the largest enterprise in the world. Even the emergence of antitrust laws could not destroy what so painstakingly created Rockefeller. With the adoption of the law, he simply divided his huge company into 34 small ones, which ultimately only multiplied his capital. John now ran not just one company, but an entire oil Empire. In addition to oil, he also engaged in the sale of real estate, steel business, owned banks and even orange orchards. All this together provided him with an annual income just exorbitant proportions.

However, despite his enormous financial wealth, John Rockefeller never bragged about his money. Having achieved what he had always dreamed of, he was simply happy. Another of his great dreams was to live to be a hundred years old, but it was not to be. Rockefeller died at the age of 98 from a heart attack.


27 September 2019

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