After any setback, Vanderbilt would come back roaring by making that obstacle into a winning deal.
Just to prove that railroad was the future, Vanderbilt single handedly drove the price of the company up.
Vanderbilt was a short seller’s worst nightmare – Vanderbilt would keep buying shares of railroad stock, when people were speculating for the company to go bankrupt. He would always have ample cash ready for when the perfect buying opportunity came up. He believed that it was fine to take a loss, if it meant that it would result in a larger loss for the competitors.
Have a “Winning is Fun” Attitude – Vanderbilt loved winning. I’ll ruin you.Ī few years down the line, he overthrew his partners and regained his leadership position in that company. After coming back to the country and realizing what his partners did, Vanderbilt is said to have written this letter to his partners: For example – once when Vanderbilt was out of the country, he was voted out of his company’s leadership by his partners. Have a Ruthless Reputation – Throughout his business career, Vanderbilt would go after whoever cheated or conned him. He had one opportunity, and he seized it. This was the beginning of him building the largest fleet of steamships. Vanderbilt soon became Gibson’s business manager. Vanderbilt saw that although it was a small steamboat, this opportunity would give him exposure to the cutting edge steamships. Gibson asked Vanderbilt to captain Gibson’s steamboat from New York to New Jersey. At age 23, he as approached by Thomas Gibson. Recognizing and Seizing Opportunities – Vanderbilt’s original business was to ferry freight and passengers between Staten Island and Manhattan. In this blog post, I will talk about 5 lessons I learned from Cornelius Vanderbilt’s biography: Railroads were the backbone that helped US economy prosper. I do not think Carnegie or Rockefeller could’ve become the titans they are known for without Vanderbilt’s railroads. It is important to note that Vanderbilt was already powerful when Carnegie (Steel man) and Rockefeller (Oil man) started their journey to great wealth. Vanderbilt propelled the California gold rush, aided Lincoln in the Civil War with his steamships, and reshaped the transportation industry. This biography talks about the challenges Vanderbilt faced in his personal and business life, and how he ceased the opportunities that came his way. Vanderbilt rose from boatman to builder of nation’s largest fleet of steamships to lord of the railroad empire. This 29 hour audiobook is a true rags to riches story. I recently finished listening to “ The First Tycoon: The Epic Life of Cornelius Vanderbilt“, a biography of Cornelius “Commodore” Vanderbilt written by T.J.
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