Lee Iacocca On Henry Ford


wealthymatters.comThe following is an article from Time Magazine.It is the best short write up I could find on the life of Henry Ford.This is probably the best thing you could read to understand Henry Ford other than his own autobiography Henry Ford: My Life and Work .You can get a copy here of the autobiography here:http://www.gutenberg.org/ebooks/7213

The only time I ever met Henry Ford, he looked at me and probably wondered, “Who is this little s.o.b. fresh out of college?” He wasn’t real big on college graduates, and I was one of 50 in the Ford training course in September 1946, working in a huge drafting room at the enormous River Rouge plant near Detroit.

One day there was a big commotion at one end of the floor and in walked Henry Ford with Charles Lindbergh. They walked down my aisle asking men what they were doing. I was working on a mechanical drawing of a clutch spring (which drove me out of engineering forever), and I was worried that they’d ask me a question because I didn’t know what the hell I was doing–I’d been there only 30 days. I was just awestruck by the fact that there was Colonel Lindbergh with my new boss, coming to shake my hand. Read more of this post

Targeting The Mass Market


wealthymatters,com“Don’t drop the price.It will be a race to the bottom”

“Add something else of value to the deal but don’t negotiate on price”

“Target affluent customers who pay well.”

“Go for easy spenders not bargain hunters”

“Prices signal quality”

“Target high margin businesses”etc etc

Advice of the ilk is readily dished out to entrepreneurs today. Undoubtedly such advice has its place.But is this the only way to do business successfully?Read the story below and decide for yourself. Read more of this post