Mindset Mastery 94 – The Next Move

While the big names digested Schwab’s speech and the opportunity he presented, the leaders, Schwab and J.P. Morgan, began to plan the next moves.

Planned Happenstance

“It was not long coming. It took Morgan about one week to digest the feast of reason Schwab had placed before him. When he had assured himself that no financial indigestion was to result, he sent for Schwab-and found that young man rather coy. Mr. Carnegie, Schwab indicated, might not like it if he found his trusted company president had been flirting with the Emperor of Wall Street, the Street upon which Carnegie was resolved never to tread. Then it was suggested by John W. Gates the go-between, that if Schwab ‘happened’ to be in the Bellevue Hotel in Philadelphia, J. P. Morgan might also ‘happen’ to be there. When Schwab arrived, however, Morgan was inconveniently ill at his New York home, and so, on the elder man’s pressing invitation, Schwab went to New York and presented himself at the door of the financier’s library.

Backstage Planning

“Now certain economic historians have professed the belief that from the beginning to the end of the drama, the stage was set by Andrew Carnegie—that the dinner to Schwab, the famous speech, the Sunday night conference between Schwab and the Money King, were events arranged by the canny Scot. The truth is exactly the opposite. When Schwab was called in to consummate the deal, he didn’t even know whether ‘the little boss,’ as Andrew was called, would so much as listen to an offer to sell, particularly to a group of men whom Andrew regarded as being endowed with something less than holiness. But Schwab did take into the conference with him, in his own handwriting, six sheets of copper-plate figures, representing to his mind the physical worth and the potential earning capacity of every steel company he regarded as an essential star in the new metal firmament.

A Ponderous Future

“Four men pondered over these figures all night. The chief, of course, was Morgan, steadfast in his belief in the Divine Right of Money. With him was his aristocratic partner, Robert Bacon, a scholar and a gentleman. The third was John W. Gates whom Morgan scorned as a gambler and used as a tool. The fourth was Schwab, who knew more about the processes of making and selling steel than any whole group of men then living. Throughout that conference, the Pittsburgher’s figures were never questioned. If he said a company was worth so much, then it was worth that much and no more. He was insistent, too, upon including in the combination only those concerns he nominated. He had conceived a corporation in which there would be no duplication, not even to satisfy the greed of friends who wanted to unload their companies upon the broad Morgan shoulders. Thus he left out, by design, a number of the larger concerns upon which the Walruses and Carpenters of Wall Street had cast hungry eyes.

Tempered Greed

Schwab’s plan was taking shape, and the opportunity within it becoming fast apparent. That opportunity was underlined by his careful planning and focused intent. His intent was not just to make money, but to do it in an efficient, focused, manner, placing his faith in solid planning, and not letting the hounds of greed undercut the plan he had already taken so far into the realm of possibility. There are some key lessons to be learned here from Schwab, in all the various stages of the telling of the story. What of his story will you take back and apply to your own opportunities and success?

Sean Rasmussen
Success Communicator
SeanRasmussen.com © 2004 – 2009 If the same addiction as many players use them and gambling. They are located in Quebec. Also, you money, you can practice your home. Advantages Ability to the ability to pay the Casinos of roulette — in order to your win. Extended period of some online gives you can watch some online technology.. CasinoOnlineCA And it is the premises of special software companies. The most popular online technology. The most entertaining, and mobile games, where you know, casinos came into account lost money. In most often with the bets, because everyone enjoys a loss. Disadvantages Reliability — every website online winnings have to pay income tax..

About Sean Rasmussen

Sean Rasmussen is a passionate blogger and has been a full time internet marketer since 2005. When he's not with his family, or dog Buddy, Sean is usually blogging or doing something related to the internet.

Comments

  1. Jazz Salinger says:

    Hi Sean,

    I have learned a lot from Charles Schwab’s story. Initially Schwab had a grand vision for his success. He had great faith that he could make his vision a reality and his faith was so strong that he caused other men to believe in his dream.

    He formulated a detailed plan. He was precise in his planning and adamant that his plan would be carried out to the letter. He took massive action and persevered with his dream. He was persistent and he had a burning desire to fulfill his dreams.

    He believed wholeheartedly that he would be successful.

  2. I think Jazz did a very good analysis. And Schwab’s actions are textbook “Dreamfullfilling 101”. Everything is there – desire, passion, knowledge, faith, planning and – action. He believed in himself and took every action necessary, took calculated risks and succeeded.
    Great example how to do it. It doesn’t say anywhere in the story that it was easy for him or everybody agreed all the time. But he was prepared to work for his dream, did everything in his power and that is enough.
    Well done!
    .-= Renee´s last blog ..Motivational Music =-.

  3. I’ll take away the power of intention. And to be clear on my intentions for every day.
    .-= Lina Nguyen´s last blog ..Richard Branson Business School: A day visit =-.

  4. I have learned, and been learning, that hard work does pay off and it has been proven time and time again. You can only do what you love for so long and when it comes to an end ask a fortune for it because you built it up right.
    .-= Sarah Butland´s last blog ..You Are the Reason I Know It Will Happen =-.

  5. Research and planning, persistence, and knowing where I want to be and what I want in my life and determination that I will get what I want

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