Harvey Firestone was a visionary entrepreneur and business leader in the American tire and rubber industry. Overflowing with “horse sense”, his wisdom and ideas remain as relevant today as they were over 100 years ago!
Favorite Quotes
“The management of one’s self, which gets down to controlling one’s own time and distinguishing the important from the unimportant, comes only from experience. Every man has to work out his own rules and, like all personal rules, they have to be flexible.”
“The only firm rule I have is to take up one thing at a time and to take up nothing else until my mind is free. I do not believe in quick decisions unless in an emergency. Indeed, anything that can be decided in an instant is something that ought not come to me. I want to have my time free.”
“The FIRST question I always ask myself when looking at any operation — whether in the shops or in the office — is this: Is it necessary? If I do find a process or operation necessary then I ask: Can it be simplified?”
“The most difficult thing in business is first getting yourself to thinking and then getting others to thinking. I say this is difficult because, in the natural course of business, an infinite number of details come up every day, and it is very easy indeed to keep so busy with these details that no time is left over for hard, quiet thought — for thinking through from the beginning to the end.”
“Quick decisions that have not behind them a long train of thought are exceedingly dangerous. Personally, I do not want to have around me the kind of man who can give me an instant decision on anything I may bring up, for, if he has not had the opportunity to give the question serious thought, then he is only guessing. And I can do my own guessing!”
“The commercial instinct has been over-rated. The service instinct is more important.”
Key Takeaway
Every business leader should study Harvey Firestone!
Charlie Munger thinks so, too.
A genuine first principles thinker, he endured multiple market fluctuations (including the Great Depression) on his journey to build one of the largest, most successful and enduring companies of that era.
I admire his simplicity, resourcefulness, positive attitude, and love of Firestone employees. Harvey was deeply ethical and truly understood human nature and motivation, the power of incentives, and how to align both to create amazing outcomes.
About George Livingston
George is a business leader and technologist currently leading Product and Software Development at The Escape Game. Previously, he led similar teams in healthcare and commercial real estate. Earlier in his career, he built several startups including a jerky company which grew into a nationally distributed consumer brand.