Henry Ford – Clinging To Same Formula For Too Long
Henry Ford was one of the most amazing American success stories of all time. He revolutionized the moving assembly line and created the first mass-produced auto (the Model T) that was accessible to the masses. He single-handedly transformed America, ushering in our car culture and the machine age.
Ford was also a total nut. There is probably no better example of “money not buying happiness” than Henry Ford. I highly recommend reading a Ford biography.
Ford was extremely bigoted; he tormented his son and employees, and he clung to all kinds of insane conclusions like “the weight of skyscrapers will collapse the surface of the earth,” and “milk becomes unhealthy once it touches air.” B/c Ford had so much money, he was convinced he was right about everything.
One of Ford’s biggest mistakes involved clinging to the Model T. It dominated the market for many years, and he would not allow Ford engineers to make significant changes. He famously smashed up a much-improved prototype that was created behind his back as a “surprise.”
Ford clung so tenaciously to his Model T and similar designs that he almost drove Ford into the ground, allowing Chevrolet and other car companies to completely overtake him.
When it comes to business, most of us have a little Henry Ford in us, as we cling to what is working for us. This is just a reminder to always remain open to completely new ideas and ways of doing business, no matter how successful we might be now.
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