Power of Partnership
From Germany, at the age of 18, Levi Strauss, his mother and two sisters sailed for the United States where his brothers, Jonas and Louis, ran a wholesale dry goods business in New York City. They specialized in the selling of imported fine dry goods such as clothing, beddings, combs, purses, handkerchiefs etcetera.
Three years later after Levi Strauss arrived in the United States; he obtained his citizenship and was chosen by the family to open a branch of the family business in San Francisco. That was during the California Gold rush in 1853. Instead of starting off a branch of the family business, the enthusiastic 21 year old Levi had something else in his mind--He wanted to hit his luck as a gold miner in California. But the god of luck was not on his side.
Yes, the god of luck was not with Levi Strauss. For his projection to make it as a gold miner was a bad one, he failed woefully. But like Machiavelli said, "an entrepreneur does not know the difference between failure and success, and is able to use both to his advantage." Levi Strauss was that kind of entrepreneur for he quickly ruled out his badly taken decision. In business, you cannot help but take wrong decisions or projections once in a while. But how quickly you bounce back after you fail is the most important thing.
Levi Strauss braced himself and started off a branch of his brothers' business in San Francisco. But the unforgettable success story of Levi Strauss and his business came to be when he met Jacob Davis.
Jacob Davis was a Nevada tailor who frequently purchased bolts of cloth made from hemp from Levi Strauss. After one of Jacob's customers kept purchasing cloth to reinforce torn pants, Jacob had an idea--to use copper rivets to reinforce the points of strain, such as on the pocket corners and at the base of the button fly. His idea was so unique and brilliant that he had to patent it. But Jacob did not have the money to purchase a patent, so he wrote a business plan and proposal to Levi Strauss, suggesting that they go into business together. Three years later, on May 20, Levi Strauss accepted Jacob's offer. So began the endless success story of Levi jeans.
In business, when you have a unique and brilliant idea of a product or invention; make a sample and purchase a patent right for it. To patent a product is to have the official right to be the only person to make, use or sell a product or an invention. Again, don't you forget this in growing your business--know when to bring in the right partner or partners. Partnership makes the journey smoother and shorter. You have the idea; your partner has the capital. Together you will both build a mega business. This is what Davis Jacob and Levi Strauss did.
For more financial information and wealth building, contact BusinessIQ. BusinessIQ is an investment & financial Institute for young entrepreneurs, between the ages of 18-50, who are set to retire young and rich. For more enquiries, call: 2341-8540-542; 2347-6759-6254 or email us: businessiqnetwork@gmail.com
Also get your own copy of BusinessIQ latest book titled "Turning Ideas into Business" To order your copy call 01-854-0542; 0706-759-6254 or email: businessiqnetwork@gmail.com
Three years later after Levi Strauss arrived in the United States; he obtained his citizenship and was chosen by the family to open a branch of the family business in San Francisco. That was during the California Gold rush in 1853. Instead of starting off a branch of the family business, the enthusiastic 21 year old Levi had something else in his mind--He wanted to hit his luck as a gold miner in California. But the god of luck was not on his side.
Yes, the god of luck was not with Levi Strauss. For his projection to make it as a gold miner was a bad one, he failed woefully. But like Machiavelli said, "an entrepreneur does not know the difference between failure and success, and is able to use both to his advantage." Levi Strauss was that kind of entrepreneur for he quickly ruled out his badly taken decision. In business, you cannot help but take wrong decisions or projections once in a while. But how quickly you bounce back after you fail is the most important thing.
Levi Strauss braced himself and started off a branch of his brothers' business in San Francisco. But the unforgettable success story of Levi Strauss and his business came to be when he met Jacob Davis.
Jacob Davis was a Nevada tailor who frequently purchased bolts of cloth made from hemp from Levi Strauss. After one of Jacob's customers kept purchasing cloth to reinforce torn pants, Jacob had an idea--to use copper rivets to reinforce the points of strain, such as on the pocket corners and at the base of the button fly. His idea was so unique and brilliant that he had to patent it. But Jacob did not have the money to purchase a patent, so he wrote a business plan and proposal to Levi Strauss, suggesting that they go into business together. Three years later, on May 20, Levi Strauss accepted Jacob's offer. So began the endless success story of Levi jeans.
In business, when you have a unique and brilliant idea of a product or invention; make a sample and purchase a patent right for it. To patent a product is to have the official right to be the only person to make, use or sell a product or an invention. Again, don't you forget this in growing your business--know when to bring in the right partner or partners. Partnership makes the journey smoother and shorter. You have the idea; your partner has the capital. Together you will both build a mega business. This is what Davis Jacob and Levi Strauss did.
For more financial information and wealth building, contact BusinessIQ. BusinessIQ is an investment & financial Institute for young entrepreneurs, between the ages of 18-50, who are set to retire young and rich. For more enquiries, call: 2341-8540-542; 2347-6759-6254 or email us: businessiqnetwork@gmail.com
Also get your own copy of BusinessIQ latest book titled "Turning Ideas into Business" To order your copy call 01-854-0542; 0706-759-6254 or email: businessiqnetwork@gmail.com