{"id":827,"date":"2021-10-21T10:16:33","date_gmt":"2021-10-21T10:16:33","guid":{"rendered":"https:\/\/veneticomagazine.gr\/?p=827"},"modified":"2022-07-15T09:40:49","modified_gmt":"2022-07-15T09:40:49","slug":"10-mathimata-diaxeirisis-apo-ton-rockefeller","status":"publish","type":"post","link":"https:\/\/veneticomagazine.gr\/en\/news\/10-mathimata-diaxeirisis-apo-ton-rockefeller\/","title":{"rendered":"The 10 most important management lessons taught by an entrepreneur"},"content":{"rendered":"<div id=\"bsf_rt_marker\"><\/div>\n<p>The year 1839 marked the birth of one of the world's greatest business titans. \u039f<strong> John Davison Rockefeller <\/strong>was born in Richford, New York, to a less fastidious father and a pious mother - fortunately. It was she who had the greatest influence on his life.<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\"><strong>Over the next 97 years that he walked the earth, Rockefeller amassed a fortune unmatched in the history of mankind. He became the world's first billionaire at a time when millionaires were a rarity.<\/strong><\/h3>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p>One of the first industrialists to make a fortune in the post-Civil War period in the United States. <strong>He was the founder and largest shareholder of the Standard Oil Company.<\/strong> Rockefeller was portrayed as an evil spirit, hungry for money and obsessed with dominating competition and markets.<\/p>\n\n\n\n<p>In fact, <strong>was a fair man who reduced the cost of kerosene <\/strong>for millions of Americans. From 58 cents the price went down to 1 cent an hour. So <strong>allowed homes across the country to be lit up at night.<\/strong><\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<figure class=\"wp-block-image size-full\"><img fetchpriority=\"high\" decoding=\"async\" width=\"768\" height=\"520\" src=\"https:\/\/veneticomagazine.gr\/wp-content\/uploads\/2021\/10\/rockefeller.jpg\" alt=\"\u039f \u03a1\u03bf\u03ba\u03c6\u03ad\u03bb\u03b5\u03c1 \u03b4\u03b9\u03b7\u03cd\u03b8\u03c5\u03bd\u03b5 \u03c4\u03b7\u03bd \u03b5\u03c0\u03b9\u03c7\u03b5\u03af\u03c1\u03b7\u03c3\u03ae \u03c4\u03bf\u03c5 \u03bc\u03b5 \u03c4\u03b7\u03bd \u03b1\u03c1\u03c7\u03ae \u03c4\u03b7\u03c2 \u03b4\u03b9\u03ba\u03b1\u03b9\u03bf\u03c3\u03cd\u03bd\u03b7\u03c2 \u03ba\u03b1\u03b9 \u03c0\u03ac\u03bd\u03c4\u03b1 \u03c0\u03bb\u03ae\u03c1\u03c9\u03bd\u03b5 \u03c7\u03c1\u03ad\u03b7.\" class=\"wp-image-784\" srcset=\"https:\/\/veneticomagazine.gr\/wp-content\/uploads\/2021\/10\/rockefeller.jpg 768w, https:\/\/veneticomagazine.gr\/wp-content\/uploads\/2021\/10\/rockefeller-300x203.jpg 300w\" sizes=\"(max-width: 768px) 100vw, 768px\" \/><\/figure>\n\n\n\n<p>Rockefeller focused on reducing overhead and increasing efficiency, which improved his margins. This strategy also allowed him to transfer savings to customers.<\/p>\n\n\n\n<p>He was also the ultimate family man, putting his loved ones ahead of his passion for business.<\/p>\n\n\n\n<p>However, his success in business has yielded fantastic results.&nbsp;<strong>The strategies and principles used<\/strong>&nbsp;to build his empire are still building his empire.<strong>&nbsp;are useful for business owners to this day.<\/strong>&nbsp;Whether it's a large international company or a small family business.<\/p>\n\n\n\n<div style=\"height:30px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Here are 10 Key Lessons from the Career of the World's Most Influential Entrepreneur.<\/h2>\n\n\n\n<h5 class=\"wp-block-heading\"><strong>1. Reducing costs can bring big profits.<\/strong><\/h5>\n\n\n\n<p><em>\u039f<\/em>&nbsp;Rockefeller focused on reducing overhead and increasing efficiency, which improved its margins. This strategy also allowed him to pass on savings to customers, making it difficult for competitors to match his prices.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><\/h4>\n\n\n\n<h5 class=\"wp-block-heading\">2. <strong>Focus on where your competitors are not looking.<\/strong><\/h5>\n\n\n\n<p>Many tried to make money from the oil refining industry, but Rockefeller saw opportunities beyond the export and refining of raw materials. His staff created products from the \u00abwaste\u00bb of oil processing that others had not thought of.<\/p>\n\n\n\n<h4 class=\"wp-block-heading\"><\/h4>\n\n\n\n<h5 class=\"wp-block-heading\"><\/h5>\n\n\n\n<h5 class=\"wp-block-heading\">3. <strong>Take advantage of the revenue stream wherever you can.<\/strong><\/h5>\n\n\n\n<p>While Rockefeller's competitors are indifferent to waste, he is obsessed with extracting value from every stage of the refining process. He eventually created more than 300 different product lines from the crude oil extracted from the ground.<\/p>\n\n\n\n<h5 class=\"wp-block-heading\"><\/h5>\n\n\n\n<h5 class=\"wp-block-heading\">4. <strong>Be fair and honest.<\/strong><\/h5>\n\n\n\n<p>&nbsp;Despite his reputation in trading, Rockefeller always offered fair value for every competitor he bought out. One of his early associates once mentioned that if you owed him a cent he would wait to collect it, and if he owed you a cent he would not rest until he paid you.<\/p>\n\n\n\n<h5 class=\"wp-block-heading\">5. <strong>Check every step of the process.<\/strong><\/h5>\n\n\n\n<p>Rockefeller took control of every step of the process in his business. He used his own engineers and plumbers to build and repair his pipelines. He also used his own structures to make the barrels, reducing costs compared to those who supplied them from others.<\/p>\n\n\n\n<h5 class=\"wp-block-heading\">6. <strong>Sell the \u00abpicks and shovels\u00bb.<\/strong><\/h5>\n\n\n\n<p>Like those who made a fortune by selling equipment to people looking for gold instead of looking for it themselves, Rockefeller avoided the more dangerous search for oil and instead focused on perfecting the final product.<\/p>\n\n\n\n<h5 class=\"wp-block-heading\">7. <strong>Give your customers value.<\/strong><\/h5>\n\n\n\n<p>In the same way that Henry Ford made cars accessible to the everyday man, Rockefeller brought light and comfort to the masses at a price no one could have imagined.<\/p>\n\n\n\n<p>In the process, he created customers who had never before been able to buy his products, but could not live without them once they became their property.<\/p>\n\n\n\n<h5 class=\"wp-block-heading\"><strong>8. Get ready to go against public opinion.<\/strong><\/h5>\n\n\n\n<p><em>\u039f&nbsp;<\/em>Rockefeller invested heavily in Ohio oil wells that were deemed unsuitable because of the sulfur stench. He offered to take over the investment with his own money when board members disagreed.<\/p>\n\n\n\n<p>He believed that his chemists could get kerosene out of the huge amount of cheap oil, and he was proved right.<\/p>\n\n\n\n<h5 class=\"wp-block-heading\"><strong>9. Inspire and reward staff.<\/strong><\/h5>\n\n\n\n<p>Rockefeller was willing to work in the factory himself and was not afraid to pay his employees well. He rewarded his top managers with additional vacation time, recognizing their need for rest and replenishment.<\/p>\n\n\n\n<h5 class=\"wp-block-heading\"><strong>10. Follow your passion and surround yourself with good people.<\/strong><\/h5>\n\n\n\n<p>Rockefeller loved business and was also extremely devoted to his church, charitable efforts and his family. Indeed, he often turned to his wife Laura Spelman for guidance, saying: \u00abHer judgment was always better than mine. Without her strong advice, I would have been poor.\u00bb.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Although Rockefeller was established in the 19th century, a very different era from modern reality, he remains relevant.<\/h3>\n\n\n\n<p>By David Brown<\/p>","protected":false},"excerpt":{"rendered":"<p>When looking for guidance in business, follow the example of one of history's most iconic businessmen, oil baron John D. Rockefeller.<\/p>","protected":false},"author":1,"featured_media":775,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[7],"tags":[21],"class_list":["post-827","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-rockefeller"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>\u03a4\u03b1 10 \u03c0\u03b9\u03bf \u03c3\u03b7\u03bc\u03b1\u03bd\u03c4\u03b9\u03ba\u03ac \u03bc\u03b1\u03b8\u03ae\u03bc\u03b1\u03c4\u03b1 \u03b1\u03c0\u03cc \u03c4\u03bf\u03bd Rockefeller | Venetico Magazine<\/title>\n<meta name=\"description\" content=\"\u03a4\u03b1 10 \u03c0\u03b9\u03bf \u03c3\u03b7\u03bc\u03b1\u03bd\u03c4\u03b9\u03ba\u03ac \u03bc\u03b1\u03b8\u03ae\u03bc\u03b1\u03c4\u03b1 \u03b4\u03b9\u03b1\u03c7\u03b5\u03af\u03c1\u03b9\u03c3\u03b7\u03c2 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