Andrew Carnegie - the Most Known and Successful Entrepreneur in America

When I supposed to think about the famous and admire entrepreneur in America. The name come in my mind is Andrew Carnegie and his steel industry. He was a social entrepreneur and the chief owner of his steel industry. He opened his first steel plant in 1875 and immediately manoeuvring to take control of the entire industry. On that time Andrew Carnegie steel was one of the largest industries in the world.

Andrew Carnegie Childhood and Early Life

Andrew Carnegie was born in 1835 in a small Scottish village called a Dunfermline. As a young man Andrew thought he would be a handloom weaver like his father but in 1840s, machines put these hands craftsman out of work. Carnegie family was nearly destitute then Andrew mother Margaret decided they would emigrate to America. Margaret had relatives living in Pittsburgh where they settled in 1848. Andrew was 12 when he got his first job at a textile factory. Where he was working 12-hour a day for dollar 20 a week. But his mother let him know she expected more from him. Carnegie’s mother goaded him by telling him repeatedly that his father had failed and that she herself felt humiliation of that failure and she wanted redemption simply through his success. spurred on by his mother Andrew Carnegie spent his free time educating himself at a local library. At the beginning Andrew was voracious reader but with their diligence he makes things possible and he managed to land a better job at a telegraph company. Ambition young man amazed everyone by teaching himself.

Career

In 1849, Carnegie became a telegraph messenger boy in the Ohio telegraph company. He was a man who working in dawn into dark for a better prospect of life and developed the ability to translate signals by ear, without the use of paperclip and with their eagerness and passion, he was promoted to an operator. Carnegie had a passion for reading which was given a boost by James Anderson who opened a library and Carnegie was a self-made man in his economic and intellectual development. His capacity and willingness for dedication soon bought him many opportunities. When Andrew turned 18, he was employed as a secretary operator by a railroad company where Andrew Carnegie gained a lot of experience and at 24, he became the superintendent of Pennsylvania railroad. He started investing in trading companies and made use of his strong connections as he established his business that supplied rails and bridges to the railroad. In 1883, Carnegie bought the rival homestead steelworks and combined his assets with his associates. In 1892, he launched the Carnegie steel company. Carnegie strategic is cut your prices still so low and still make money that no one could compete with you. Carnegie steel company became the largest and most profitable industrial enterprise in the world in 1890. Carnegie making more than 2 million dollars a year and at that time there was no income tax which means 2 million dollars is 2 million. Carnegie made his fortune in the steel industry, controlling the most extensive iron and steel operation ever owned by an individual. Interestingly, Despite being having no degree holder, he promoted education in every corner. Carnegie at an early age decided that he would not die rich as he famously said the man who dies rich dies disgraced. At the age of 65, self-educated steel king donates 350 million dollars for charity or establishing the institution, universities in the world. Carnegie founded around 3000 libraries all around the world.

Conclusion

The reason behind I chose the Andrew Carnegie first of all, he is a self-leaner without any degree holding he proves to the world that every person will educated if, he or she have the passion to learn something new or challenging in the journey of their life. Secondly, he is a great sense of humour to know about that not only how to run the large business but also knew that how to invest in large business. I inspired a lot by Andrew to their decision of spending rest of their money to the charity. He believed that one stage of life he earns money and second stage of life is giving his money away. According to me this is the perfect example of the inspired story of Andrew Carnegie. The man who have rich heart and not thinking about our profit only but also think about the opportunity of other people by donating the money to open the libraries, universities for the new generation. He develops the path and gave the opportunity to other people in the education sector. I learned lesson from the story that the person who has no background in the study, no financial support but through their passion, vision and courage towards to their work he survived. Also, no matter your work is small or big your diligence is important in the field of work. All in all, Andrew gave the message to all the youngsters that never stop, never quitting achieve your own desirable goals.