Key Growth Techniques Term Paper

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Growth Techniques: The Entrepreneurs

Many entrepreneurs were born during this period of time and often used specific growth strategies that were key to their empires and their fortunes. None of them went about it in exactly the same way but it all came about to the same end. One of the largest entrepreneurs of the time was Gould. Most of his fortune was made in the western railroads and he also became involved with the Western Union Co., which is still around today. Although many of the enterprises he involved himself in eventually came to ruin he amassed a fortune that was over $100 million at the time of his death. The basic key growth strategy that Gould used had to do with creating great wealth for himself and not being concerned about those that he left in his wake.

Another individual that made his fortune in railroads during that time was Cornelius Vanderbilt. Originally dealing with steamboats, Vanderbilt became concerned about some of the dangers that could befall him. He turned his attention instead to railroads and used a growth strategy of buying up all of his competitors so that he would not have to worry about competition from other individuals.

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Vanderbilt was more concerned about other individuals than Gould had been, but he was still highly interested in making certain that his fortune continued to grow. He connected railroad lines from every point that he was able to and although he tried to buy up his largest competitor the competition avoided this by creating stock faster than he could buy it. That notwithstanding, however, Vanderbilt still managed to buy large areas of railroad and become involved with the Chicago market which was highly lucrative at the time.

Railroads were very important but manufactured goods were necessary to have something to transport and iron and steel were needed for the railroad tracks that were being laid all across the country.….....

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