MoneyMagpie

Nov 30

3 of the best business decisions ever made

Reading Time: 3 minutes

Investing money and making big decisions in life and business is a huge challenge.

The risks are big and there are no guarantees about what will happen in the future, regardless of how much planning and thinking goes into making a decision.

Just look at what happens when the wrong decisions are made by reading our article on the biggest mistakes in business and financial history here.

But sometimes, big decisions pay off big time.

So here are three of the best business and financial decisions made in recent history.

 

Henry Ford doubles workers’ wages

car insurance

As a business owner, you would think that doubling the amount of money you pay to employees would be bad practice, but not Henry Ford, founder of the Automotive giant.

Having launched the Ford Model T in the early part of the 20th century, Ford exploded in size and revenues rocketed.

As a result, Mr Ford gave his workers a big increase in wages, which had the knock-on effect of turning them into consumers of their own products.

The workers made money from Ford but effectively gave it all back when buying the Ford Model T, driving (no pun intended) sales through the roof.

 

Apple re-hires Steve Jobs

what the British pay more for

Having been removed by the board of Apple, Steve Jobs was left reeling after leaving the very company he founded 20 years previously.

However, after a succession of bad decisions and massive financial losses which rose to over $1 billion, Apple decided that it needed its creative spearhead back.

When they did, Jobs brought his new software with him, reinvigorating the failing business.

A few short years later, Apple was considered to be one of the most innovative and successful businesses of all time and, as of 2018, was valued at over $900 billion.

 

Google employees accept shares as payment

google

Back when Google was nothing more than a 40 strong team based in a single office, it could not afford to pay its employees a full wage, which meant they were offered shares to make up it.

Plenty of employees would have not accepted this as payment and many others would have walked out of the interview when told about the scheme.

However, those that decided to accept the shares ended up making the best decisions of their lives.

Over the course of 20 years, Google became one of the biggest businesses on the planet and the original team now owned shares worth billions.

Even the person providing massages ended up becoming a multi-millionaire!

For more incredible business success stories, check out our article on five of the best films, based on real life, about making money, by clicking here. 

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