The following are quotes from chapter 5 (Getting Into Production) of Henry Ford's autobiography "My Life and Work". I found these nuggets of information to be valuable in helping me make my own decisions about finances, money and running a business. The full text of the chapter can be read at CashCourse.com.
It is self-evident that a majority of the people in the world are not mentally--even if they are physically--capable of making a good living.
...it is not the employer who pays wages. He only handles the money. It is the product that pays the wages and it is the management that arranges the production so that the product may pay the wages.
...while to-day we have skilled mechanics in plenty, they do not produce automobiles--they make it easy for others to produce them.
The undirected worker spends more of his time walking about for materials and tools than he does in working; he gets small pay because pedestrianism is not a highly paid line.
We get some of our best results from letting fools rush in where angels fear to tread.
...the remaining 95 per cent. are unskilled, or to put it more accurately, must be skilled in exactly one operation which the most stupid man can learn within two days.
...every foot of space not used carries an overhead expense.
It is self-evident that a majority of the people in the world are not mentally--even if they are physically--capable of making a good living.
...it is not the employer who pays wages. He only handles the money. It is the product that pays the wages and it is the management that arranges the production so that the product may pay the wages.
...while to-day we have skilled mechanics in plenty, they do not produce automobiles--they make it easy for others to produce them.
The undirected worker spends more of his time walking about for materials and tools than he does in working; he gets small pay because pedestrianism is not a highly paid line.
We get some of our best results from letting fools rush in where angels fear to tread.
...the remaining 95 per cent. are unskilled, or to put it more accurately, must be skilled in exactly one operation which the most stupid man can learn within two days.
...every foot of space not used carries an overhead expense.
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