Avoid ostentatious displays of wealth
WealthUnlike his father who flashed rolls of bills, Rockefeller preferred to live modestly and detested showing off his riches.
Hall of Masters
John D. Rockefeller
존 D. 록펠러
Founders and company builders1839-1937
Founder of Standard Oil
392 records in all
- Principles 133
- Episodes 139
- Quotes 120
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Photo: Published by Scientific American Compiling Dep't, New York. 1907. Public domain Original cropped
Principles
20 basic records of 133
Principles are our summary of their public statements.
Professionalize through standardization
BrandA business can dominate a volatile market by setting high-quality standards that ensure safety and reliability for customers.
Leverage volume for cost efficiency
StrategyGuaranteeing high volume to suppliers or partners can be used to negotiate drastically lower rates and improve operational speed.
Stabilize Volatile Markets through Cooperation
StrategyHe sought to solve the problem of unpredictable demand and price fluctuations by creating a cooperative structure that fixed prices.
Signal Quality Through Branding
BrandRockefeller chose a name that symbolized reliable standards of quality and service to build trust in a new and chaotic industry.
Balance Conservatism with Daring
TeamSuccessful organizations need both conservative members to protect assets and aggressive members to drive necessary growth.
Supporting quotes
It has always been our 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.
Source John D. Rockefeller Random Reminiscences of Men and Events, 1909 (opens in a new tab)
2 more supporting quotes are in the member records.
Rigorous record keeping from day one
ManagementSuccess starts with tracking every receipt and expenditure, no matter how small the business or the person's age.
3 more supporting quotes are in the member records.
Treat company money with extreme care
IntegrityAn employee should view checking a bill as an executive act of responsibility, treating the employer's funds with more care than their own.
Supporting quotes
I made up my mind that such business methods could not succeed.
Source John D. Rockefeller Random Reminiscences of Men and Events (opens in a new tab)
2 more supporting quotes are in the member records.
Sell before the crash
StrategyIt is better to sell a business at a fair price during intense competition than to risk total bankruptcy by holding on too long.
2 more supporting quotes are in the member records.
Own a piece of the winner
WealthWhen selling a business to a stronger competitor, taking payment in their stock often yields much higher long-term returns than cash.
2 more supporting quotes are in the member records.
Systematic Giving from Earned Income
WealthOne should develop a habit of giving systematically from money they have personally earned, starting as early as possible.
3 more supporting quotes are in the member records.
Help people to help themselves
LeadershipThe most effective form of assistance is empowering individuals to solve their own problems rather than providing temporary relief.
Supporting quotes
The only thing which is of lasting benefit to a man is that which he does for himself.
Source John D. Rockefeller Random Reminiscences of Men and Events (opens in a new tab)
2 more supporting quotes are in the member records.
Apply business rigor to giving
ManagementPhilanthropy should be organized with the same strategic planning and efficiency used in commercial enterprises to minimize waste.
Supporting quotes
The only thing which is of lasting benefit to a man is that which he does for himself.
Source John D. Rockefeller Random Reminiscences of Men and Events (opens in a new tab)
2 more supporting quotes are in the member records.
Investigate Before You Commit
DecisionsOne should not give or invest based on emotional appeals but should conduct a scientific study of the location, management, and prospective value of an entity.
3 more supporting quotes are in the member records.
Focus on Worthy Causes
Capital allocationInvest in projects that align with personal values and have a clear, long-term social return on investment.
Adapt to New Market Demands
StrategyThe business shifted focus from kerosene to gasoline as the internal combustion engine and automobiles gained mass-market adoption.
Focus philanthropy on specific domains
BrandRockefeller established a clear identity in his giving by focusing heavily on medical research and endowments. This specialization was so well-known that even other moguls like Carnegie would redirect medical projects to him.
Preserve wealth through institutional structures
WealthThe Rockefeller family avoided the common trend of losing wealth over generations by using family trusts and professional wealth management groups. This structured approach allowed them to maintain influence and capital across seven generations.
Hold assets for long-term value
Capital allocationRockefeller believed in holding onto shares of high-quality companies because they would become increasingly valuable over time.
Invest in Institutional Longevity
StrategyRockefeller founded the University of Chicago to create a lasting impact through education and research across diverse fields.
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