Andrew Carnegie's Fascinating Insight for Leaders
October 31, 2024
Andrew Carnegie is one of the most successful businessman of all time. And yet, he didn't know anything about his industry.
How did he become so successful when he was so clueless?
Andrew Carnegie's Incredible Business Success
Andrew Carnegie was a businessman who led the expansion of the American steel industry in the late 19th century. He gave jobs to about 40,000 people and amassed incredible wealth. At his peak, Carnegie's wealth was estimated to be around 400 million - that's $15,000,000,000 today adjusted for inflation.
He ultimately gave away 90% of his fortune to many causes. He built around 2,500 public libraries, supported many charitable organizations and founded of the Carnegie Endowment for International Peace.
Discovering the Secret of Andrew Carnegie's Business Success
Fascinated with Carnegie's incredible success, a young man named Napoleon Hill was given permission to shadow him and learn the secrets of his amazing achievements.
"When I first talked to Andrew Carnegie, I was astounded to hear him say that he personally didn't know anything about the making or marketing of steel," noted Hill in his book, Napoleon Hill's Master Course. "Mr. Carnegie, I said, just what part do you play?"
"I'll tell you the part that I play," replied Carnegie. "My job is to keep the members of my mastermind alliance working in a state of perfect harmony."
"Is that all you have to do?" said Hill.
"Have you ever tried to get any two people to agree on anything for three minutes in succession in your life? You try it some day and see just what kind of a job it is to get people to work together in the spirit of harmony. It is one of the greatest of human achievements," said Carnegie.
Why Quality Company Culture is the Secret of Business Success
The secret to Andrew Carnegie's success was quality company culture. Specifically, he was focused on ensuring his leaders, managers and the members of his mastermind alliance were working well together.
Indeed, a positive, supportive work environment is the ultimate competitive edge. I’ve seen a great culture keep good people happy for decades, directly win more business for companies and allow small businesses to hire impressive talent away from big corporations offering better salaries and benefits. An outstanding company culture can improve every aspect of your working life.
As marketer Brian Kristofek says, “Being a great place to work is the difference between being a good company and a great company.”
While Carnegie's workplace conditions may not be impressive by modern standards, his emphasis on ensuring people feel supported and work well together is admirable.
Great leaders take the time to ensure their team feel supported and are able to work well together.
Don't get me wrong, it's important for leaders to know about their industry. But even more important than that is an emphasis on getting the right people in the right seats, helping them feel safe and supported, and emphasizing a really positive workplace.
A great workplace is like high quality soil and a garden that allows team members to grow, to flourish and produce. Andrew Carnegie understood that.
Andrew Carnegie's Impact on Napoleon Hill
So what happened to the young man, Napoleon Hill, who was allowed to spend his time with Andrew Carnegie?
Napoleon Hill wrote down the principles he learned from Carnegie in a self-help book that has influenced millions of people, outlining the principles of success of wealth accumulation through personal development and positive thinking. The book is called Think and Grow Rich. It's one of the greatest selling books in the last 100 years.