CONTENTS Some Old Friends The Difficult Art of Getting The Standard Oil Company Some Experiences in the Oil Business Other Business Experiences and Business Principles The Difficult Art of Giving The Benevolent Trust -- The Value of the Cooperative Principle in Giving
John Davison Rockefeller Sr. was an American industrialist and philanthropist. He was, in 1870, one of the founders of the Standard Oil Company, which became the first great U.S. business trust. He was the driving force of this business until his retirement in 1897, and became the richest man in the world.
Rockefeller Sr. was also a very important philanthropist, founder of both the University of Chicago and Rockefeller University and funder of the Central Philippine University in the Philippines. Beside this he was responsable for the creation of foundations that had a major effect on medicine, education and scientific research.
"Where can I fit in so that I may be most effective in the work of the world? Where can I lend a hand in a way effectively to advance the general interests? Enter life in such a spirit, choose your vocation in that way, and you have taken the first step on the highest road to a large success. Investigation will show that the great fortunes which have been made in this country, and the same is probably true of other lands, have come to men who have performed great and far-reaching economic services - men who, with great faith in the future of their country, have done most for the development of its resources. The man will be most successful who confers the greatest service on the world. (John D. Rockefeller, Random Reminiscences of Men and Events, Page 143)
This is the autobiography of John D. Rockefeller, once the richest man in the world. He took some bookkeeping courses in school and then began to work for a company with varied business interests. In that company he got to know the ins and outs of the business. He then started his own business with his partners. The most famous and prosperous of these companies being Standard Oil.
He shares his experiences with his partners, business decisions, philanthropy and a host of other topics.
The one thing I learned most importantly is that John D. Rockefeller was a planner. He says on page 21 of his book "I expect to go on and develop the plans which have been my inspiration for a lifetime." Therefore, he had goals and these goals were like a great engine in his life. Not only did he have goals, but he planned out his goals and the steps and tasks required to reach these goals. Most people have goals, but most people don't have a detailed plan to reach their goals. They say they have these goals in their mind; however, most people who have reached their dreams have actually taken these dreams out of their mind and have written them down, as John D. Rockefeller did and he saw them turned into reality. Writing down your goals and writing out the steps and tasks required to reach your goals is one of the greatest strategies of superachievers. If you require help in mapping out your dreams, as John D. Rockefeller did, I highly recommend Steven K. Scott's Vision Mapping Journal and DVD in which he takes you step by step in mapping out your dreams. These materials are worth more than their weight in gold.
This book read like Rockefeller penned me a personal letter as a business mentor. The content is a century old but largely very applicable still. A short but great read. Highly recommended to anyone in business of any size.
That autobiography was published too early to expect controversy. I bet a primary goal of that was to convince public opinion: "look: I'm not such monopolistic devil. I strongly admire my partners, reliability, charity. What's more - I have a personal interest. So how could I be a devil?".
I thought that maybe in that book I will find how John D. Rockefeller had thought about his strategy and industry but... oh wait! If you created the monopoly those thoughts probably mean "controversy".
In his position was very difficult to write an interesting book, but it wasn't impossible. So I was a little disappointed despite the fact it was written more than 100 years ago.
But 2 things caught my attention: - these days we see the antitrust battle against big tech (Facebook, Google, Amazon, Apple). If you want to predict what can be the narration of Zuckerbergs of this world - that book may help you. John D. Rockefeller was in their position, - John D. Rockefeller said more than 100 years ago "I see that young entrepreneurs say that good times for running business are over. Earlier times were much better. Now running the business is much more difficult". Does it sound familiar?
To our great surprise, business came to us so fast that we hardly knew how to handle it, and in the first year, our sales amounted to half a million dollars.
Then, and indeed for many years after, it seemed as though there was no end to the money needed to carry on and develop the business. As our successes began to come, I seldom put my head on the pillow at night without speaking a few words to myself in this way:
“Now a little success, soon you will fall down, soon you will be overthrown. Because you have got a start, you think you are quite a merchant; look out, or you will lose your head—go steady."
These intimate conversations with myself, I am sure, had a great influence on my life. I was afraid I could not stand my prosperity, and tried to teach myself not to get puffed up with any foolish notions.
In short, this is an autobiography of Rockefeller, written by himself; a reflection of men and events.
Chapter 1
- Rockefeller credits his success by bringing in talented people together and work for him. It reminded me of Lee Kuan Yew and his competent team of ministers that led Singapore to success. By harnessing the capabilities of your team members, you can achieve more and scale up your success. - To resolve a conflict or decide upon a decision, Standard Oil had a policy to hear patiently and discuss frankly until the last shred of evidence is on the table, before trying to reach a conclusion and to decide finally upon a course of action. Lesson Learnt: Detailed analysis is required during decision making - Having good strong friendships can come a long way. In Rockefeller case, it has greatly benefited/saved his business. Lesson Learnt: Network around, don't burn bridges unnecessarily.
Chapter 2: Early life of Rockefeller
Chapter 3: Countering the negative image of “Rockefeller” and Standard Oil by giving his own perspective and justifications
Chapter 4: Start of Standard Oil and its development over time. Continuation of justification
- Diversification is key to continuity, especially for high risk related stuff - Don’t put all your eggs in one basket. - Keeping company private allow employees and shareholders to focus on business, rather than speculating on the stock market.
Chapter 5: Rockefeller’s other business ventures
Chapter 6: Rockefeller’s philanthropic giving
In summary, most of the stuff mentioned in the book are still relevant as of today, 100 years later. Overall, the book was quite disappointing. It has a good start but it becomes dull and dry afterwards. Rockefeller tried to give his perspectives of some business activities his company did; justifying them and tried to remove the negative image that on his company and himself. It is expected of him to do so, but it does bore readers that are not interested in reading them and it occupies quite a chunk in his book. At least to me, these are useless information as they do not benefit me
This entire review has been hidden because of spoilers.
Այսպիսով, սկսելով կարդալ գիրքը, ես սպասում էի, որ վերջապես կբացահայտեմ մի գաղտնիք, որը Ռոքֆելերին օգնեց վաստակել իր միլիարդները, և սկզբում կարծես ամեն ինչ հանգեցնում էր դրան, բայց ես կհամարձակվեմ հիասթափեցնել ձեզ, դա տեղի չունեցավ: Ավելին, գրքում շատ հազվադեպ է ասվում «Ստանդարտ նավթ» ընկերության ստեղծման մասին, այսինքն ՝ ընկերության ստեղծման և ձևավորման համար հատուկ սկզբունքներ և ռազմավարություններ չկան, ընկերության կյանքից կան անորոշ օրինակներ, որոնք, ընդհանուր առմամբ, բաժանված են չորս գլուխների:
Ընդհանուր առմամբ, գրքի բովանդակությունը մեզ գաղափար է տալիս միլիարդատիրոջ մտածելու ձևի և կյանքի նկատմամբ նրա վերաբերմունքի մասին: Նաև գրքից կարող եք մի քանի օգտակար խորհուրդներ վերցնել, եւ վերջ ։ Գիրքը կարդալիս, չգիտես ինչու, կասկածի տակ եք դնում այն ամենը, ինչ գրված է։ Այնտեղ նա շատ հարցերում փորձում է արդարանալ եւ բացատրել որոշ գործեր ,իր անունը մաքրելու համար։ Ամփոփելու համար ես կասեմ, որ կարող եք կարդալ այն, բայց գրքից շատ բան չսպասեք և այն ընկալեք որպես Ռոքֆելլերի անձնական անհատական հիշողություններ:
It’s definitely random. It’s a short book, but for the modern reader you could cut over half and nothing would be lost. He needed a ghost writer. He also gets so very defensive over various allegations about his company in such a way that makes him seem guilty.
Read some good quotes from it and you’ll get the same effect. Or just read an actual biography.
Excellent read. Things have not changed much in 100 years of business, though the consolidation strategy of Standard Oil has already been replicated in most markets where it's applicable. Growth in next 100 years will be about customization, personalization, and adding value to enable charging premium prices. The fundamentals don't change, in spite of short sighted politicians and a naive populace that would always prefer to think otherwise.
Although this book is about one of the greatest character in history of business, it is just dull. It's very easy to dose off while reading, because there's nothing that gets you in. I hardly remember what I've read. "Titan", another book about John D. was much better read and what I know about Rockefeller I know it from that book.
This barely qualifies as an autobiography. It was much more a defense of all the negative stuff people were saying about him. This was just one big ego trip of a book, which I could have seriously done without reading.
Also read it a long time ago. But I remember that it was quite fascinating to read it. Was interesting that Rockefeller was businessman from his childhood (born businessman)!!
The Autobiography of John D. Rockefeller, also known as Random Reminiscences of Men and Events, offers a rare glimpse into the life, thoughts, and business philosophy of one of America’s most influential and wealthiest men. Written in a humble and reflective tone, Rockefeller recounts his early struggles, rise through the oil industry, and the formation of Standard Oil, while placing great emphasis on thrift, hard work, and faith.
Rather than boasting of his immense wealth, Rockefeller focuses more on personal discipline, ethical business practices (as he saw them), and his philanthropic pursuits. While the book avoids delving into the controversies and criticisms surrounding Standard Oil’s monopoly, it remains a valuable primary source for understanding the mindset of a Gilded Age titan. Readers seeking a self-justified but fascinating narrative of success will find it both enlightening and historically significant.
I was curious about the persona of Mr. Rockefeller, but I was not very happy with this book. There were several downsides - it felt (and is) too short, doesn't give a high level picture of the person and kind of has too few gems inside. There were some positives though: you get to read the words of John Davison Rockefeller himself and there is a hidden gem near the end of the book where it's like a hugely successful person from the past is speaking to you personally. To a certain extent, reading this book felt slightly like reading Ray Dalio's Principles (which is one of my favourites, which is good): you have a glimpse into the mind of a business legend... But, having said this, I am not happy that the book didn't have the structure that would allow me to learn the entire story of Mr. Rockefeller from start to finish.
Nu e tocmai ceea la ce te aștepți. E o carte destul de slabă, care nu te fascinează sau captivează, respectiv o citești, dar nu prea simți plăcere din asta. Ce tine de plusuri, am putea atribui la cele din urmă anumite pareri despre afaceri care sunt bune, și anumite sfaturi care cred că ar merita să le urmeze toți..! Concluzia finală: de citit se poate, dar nu pot spune că o recomand, și precis că nu o să o recitesc cândva! Celor interesați de Rockefeller și gândurile sale, posibil o să îi placă!
Читати цікаво, особливо про те, як автор талановито поєднував консервативний підхід до бізнесу і впровадження інновацій. Та все ж це автобіографія, в якій забагато недомовок. Здається, автор жодного разу не згадав, що зробив у своєму житті хоч одну помилку чи сумнівний вчинок, або що він про щось шкодує. Від автобіографії очікуєш більшої відвертості. Втім, читати раджу, бо ця книжка дає деякі знання з історії бізнесу і показує як мислив найбагатший промисловець XIX ст.
John D Rockefeller is one of the most successful businessmen the world ever produced, listening to him not only inspiring but also provide excellent lessons on building a business based on a solid foundation and long-term financial and organizational strength rather than speculation and short-term gains.
Words from Rockefeller himself. This guy always surprises me. Yes, he was wealthiest person in history, but he also made so many other people wealthy. For instance, this quote from the book: “Go into business not for money but for association with interesting, quick-minded men”
Interesante biografía, sobretodo porque fue una persona que vivió en una época muy lucrativa y con una proyección que supo aprovechar. Ahí es también el punto que me ha faltado un poco más. Me hubiera gustado también que hablara de su vida un poco más personal y su ocio fuera de los negocios.
Amazing book written in 1904 by John D. Rockefeller! It’s full of valuable insights and easy to read. Highly recommended, written by one of the most successful businessmen of all time, this book deserves more attention.
Lo recomiendo para cualquier empresario y emprendedor, muestra una perspectiva clara y rápida de porque y como se puede triunfar en los negocios, una historia de mucho esfuerzo y zagasidad, ver las oportunidades y aprovecharlas.
Written in his old age, so he talks more about his philanthropic work and elderly events than his business career. He does give some great advice on the advantage of morality in business.