Entrepreneurialism

Entrepreneur Definition: John D Rockefeller’s Oil Empire

John D. Rockefeller could well be considered one of the most successful business tycoons to have ever lived. He is also a prime example of what it means to be a successful entrepreneur. He was an innovator in business, with the most notable being the first American “trust” to be established. You can also say that he influenced monopolization of businesses. Rockefeller was well-known for his bold and risky business decisions. But, Rockefeller was also known for his charitable acts. In a sense, he helped to define modern philanthropy. His success with his businesses was not the only reason his story is a part of the most important entrepreneur stories. He also had a strong will and a soft heart.

John D. Rockefeller was the second child of six children and was born in New York. As a child, he was raised in a Baptist household and was an intelligent and serious person. He was a natural businessman from the time he was a youngster. He enjoyed math and accounting, and was highly organized. He was also a great debater and could easily express his opinions on any topic.

Rockefeller was 16 years old when he landed his first job as an assistant to a bookkeeper. This was where he learned and perfected the complex methods and systems required to run a successful company. His natural ability to organize and be organized was evident in his work. He was a meticulous employee who was also very proficient in financial accounting. His job as assistant bookkeeper allowed him to save quite a bit of money. He would also often spare a percentage from his salary to give to charities and foundations, even though he was only 21.

Rockefeller and Clark were exposed to the entrepreneurial world. Rockefeller was just 19 when they started their own company. Both worked hard, and they were able to make several thousand. Their company eventually moved to refineries. Their greatest success was after many years, they were Cleveland’s largest refinery. Standard Oil Company was founded. This was a venture Rockefeller, his brother and other partners took on. Rockefeller was very competitive and made difficult decisions to buy other oil refinery firms. Rockefeller managed to dominate the American petroleum industry for several years.

Rockefeller’s business was worth around $1 billion at its peak. Rockefeller’s great strength was that, even though he was well-known for making tough decisions in business, he still had a heartfelt desire to help others. Rockefeller never lost his passion to share what he had and help others. Although he was a successful businessman, he was also a passionate philanthropist. He was passionate about causes that could lift mankind in any way possible.

It’s clear that John D. Rockefeller made a significant contribution to America. He was able revolutionize and incite different aspects of the company. In the latter part his life, he also contributed greatly to charitable causes. His business genius is something to be inspired by and a great example for the true definition of successful entrepreneur.

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