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The Entrepreneur Definition: John D Rockefeller’s Oil Empire
John D. Rockefeller may well be considered one of the most successful business magnates in the history of the planet, and a prime example of the typical definition of a successful entrepreneur. He established many firsts in the business world, the most important being the first to establish “trust” in America and he can also be said to have inspired corporate monopolization. Although known for his risky and aggressive business decisions, Rockefeller was also widely known for his philanthropic acts; in a way, he defined what is now called modern philanthropy. Apart from the fact that he was indeed very successful with his businesses, his strong will combined with a tender heart is why his story is among the greatest entrepreneur stories of all time.
John D. Rockefeller was born in New York and was the second of six children. He was part of a religious Baptist family and was a serious kid growing up. From an early age, he already had the makings of a great businessman. He loved math, liked to report things, and was a very organized person. He also excelled in debates and had no problem expressing his ideas on the point.
At the age of 16, Rockefeller landed his very first job as an accounting assistant. It was here, in this job, that he developed and refined the intricacies, methods and systems needed to run a successful business. His innate organizational skills have borne fruit in his work; he was a very meticulous employee and very gifted for the financial aspects. He was able to save quite a few dollars in his job as an accounting assistant, and even at this young age he usually saved a percentage of his salary to donate to charities and foundations.
After being exposed to the world of entrepreneurship, Rockefeller and Clark began building their own business. Rockefeller was 19 when it happened. They both worked very hard and it finally paid off in earning several thousand. After some time, their business moved to refineries. It was their greatest success, after several years they became the largest refinery in Cleveland. The Standard Oil Company was born; it was a business venture that Rockefeller undertook with his brother and other partners. He was very competitive and made sharp decisions to buy up other oil refining companies. Indeed, after several years, Rockefeller was able to monopolize the oil industry in America.
At the height of his business, Rockefeller was worth around $1 billion. The great thing about Rockefeller is that even though he was widely known for making aggressive decisions when it came to his business, he remained keen on helping people. He never lost his desire to help and share all he has. He was a great businessman, but he was also a philanthropist at heart. He was very passionate about causes that could uplift humanity in every possible way; whether it was for education, health or anything else, he would always be ready to help.
It is undeniable that John D. Rockefeller contributed so much to America. He knew how to revolutionize and inspire different aspects of the company. Apart from this, he was also able to contribute greatly to charitable causes in the latter part of his life. His business genius is still an inspiration and a prime example of the true definition of a successful entrepreneur.
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