Mindset Mastery 93 – Details Of Opportunity

Mindset Mastery eBookCharles Schwab was able to recognize opportunity, and to understand it in ways that other men could not; and so, when he proposed his plan he proposed it thoroughly, with a strong plan for success that attracted wealth and power to him.

Refined Detail

“Schwab’s speech on the night of December 12, 1900, undoubtedly carried the inference, though not the pledge, that the vast Carnegie enterprise could be brought under the Morgan tent. He talked of the world future for steel, of reorganization for efficiency, of specialization, of the scrapping of unsuccessful mills and concentration of effort on the flourishing properties, of economies in the ore traffic, of economies in overhead and administrative departments, of capturing foreign markets.

The Error Of Past Ways

“More than that, he told the buccaneers among them wherein lay the errors of their customary piracy. Their purposes, he inferred, had been to create monopolies, raise prices, and pay themselves fat dividends out of privilege. Schwab condemned the system in his heartiest manner. The shortsightedness of such a policy, he told his hearers, lay in the fact that it restricted the market in an era when everything cried for expansion. By cheapening the cost of steel, he argued, an ever-expanding market would be created; more uses for steel would be devised, and a goodly portion of the world trade could be captured. Actually, though he did not know it, Schwab was an apostle of modern mass production.

“So the dinner at the University Club came to an end. Morgan went home, to think about Schwab’s rosy predictions. Schwab went back to Pittsburgh to run the steel business for ‘Wee Andra Carnegie,’ while Gary and the rest went back to their stock tickers, to fiddle around in anticipation of the next move.

The Right Focus

Schwab’s plan was brilliant because it went beyond the obvious and focused in on the real opportunity that had eluded all those before. He had a realistic plan for building wealth throughout the steel industry that focused on the wider world, and not narrowly on his own deep pockets. Interestingly enough, the one easily fed the other, proving that the path to wealth is not a tunnel, but a wider road that encompasses the travel of others.

Sean Rasmussen
Success Communicator
SeanRasmussen.com © 2004 – 2009

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. It’s interesting that opportunity can come of adversary and with proper preparation, the right timing, and an open mind, great things can be achieved. He was brilliant. Why have a bigger slice of the cake when you can make more than one cake? We are creatures of habit not only in our actions but also in our thoughts. Thank goodness we are now more aware of ourselves and there is so much training and knowledge out there about how we think that we really have no excuse not to become masters of our own destiny and to expand our thinking beyond the ordinary.

  2. Jazz Salinger says:

    Hi Sean,

    Charles Schwab clearly believed so deeply in his vision that he was able to make others believe and draw to him the necessary elements to make his dream a reality. He must have had such an unshakable belief that this was the right way to go forward in the Steel business that the others could not help but share his vision.

    For me, the thing that makes this story so amazing is that these were all successful men in their own right. Schwab was able to get them to expand their vision and look at something bigger than themselves that would mean greater success for all of them if they would just work together.

  3. Schwab’s idea was bolder than any of the ideas before, but he believed in it with his whole heart. And because its main focus was not his own pocket it made it even more interesting for the others.

    Its fascinating what we humans can do, if we use our creativity and have faith in ourselves.
    Thanks for that ongoing reminder!
    .-= Renee´s last blog ..Overcoming Procrastination =-.

    • Hi Renee,

      This story always reminds me of the principle; ‘the more you give, the more you get’. I’m sure on some level Schwab must have considered what this deal meant for himself financially.

      Obviously he was smart enough to realise that the deal would be far more profitable if he could get everyone to work together. It can’t have been easy. I’ll bet some of these men had huge egos.
      .-= Jazz Salinger´s last blog ..Finding Your Passion =-.

  4. Ah, the ability to recognise opportunity, especially when others don’t. To know it when you see it. Then to do something about it. A vital skill for the entrepreneur.
    .-= Lina Nguyen´s last blog ..Richard Branson Business School: A day visit =-.

  5. Schwab was obviously a just man and instead of figuring out how to better take advantage of the little guy in raising costs he took over the industry by making it feasible for the big guys to buy it. If he was living here and now what do you think he would say?
    .-= Sarah Butland´s last blog ..You Are the Reason I Know It Will Happen =-.

  6. Schwab could see an opportunity where others couldn’t and so took action. He was seeing things differently so he took steps he needed to take to succeed.

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