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customers at the price and still make a profit. They would start the
process of study to find savings. Every hand must be on deck to
get this done and when they had done that successfully, they
would heave a sigh of relief. Not yet, because next year, he would
announce that the same car would be sold for 700 dollars without
knowing how to achieve that. This continued for about 8 years in
a row and they always turned a profit and the demand went
through the roof. Therefore, he had the field to himself because his
competitors were producing to order and ripping off the customers.
They were unable to match his relentless desire for improvement
in his method together with his desire to be of service to the
community. When you focus on service, the money will take care
of itself and you will get money in bundles that you wouldn't be
able to count. Did he get money in millions? He was one of the
richest men of his era. He was a broke watch repairer at age 40
but conquered the world within 10 years. Are you thinking that you
are not in manufacturing and therefore this doesn't apply to you?
Whatever business you do if you focus on delivering the best
service at the best price to people, then you don't have to worry
about competition.

Let me flip it to share the opposite extreme to Henry Ford’s
method.

Sam Walton was notorious for stealing good ideas from
competitors and implementing it better constantly and consistently.
If you don't recognize that name, he was the founder of
WALMART. He borrowed 20000 dollars from his father in law to
start just one store in a small town in the US. He quickly grew the
business to one of the biggest companies in the world. This is his
view about competition
[Learning from the competition] If you get one good idea, that’s
one more than you went into the store with, and we must try to
incorporate it into our company. - Sam Walton

When he was asked about the secret of his success this is what
he said:

Most of us don't invent ideas. We take the best ideas from
someone else.
- Sam Walton

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