The Most Innovative Entrepreneurs of 2021

Introduction 

Madam C.J Walker and Henry Ford are two great business persons. They both had weaknesses and strengths. Madam Walker was born in 1867, and her career runs to 1915 (Gates, 2013). In a time of rapid economic change, the two developed innovative and successful approaches. For instance, initially known as Sarah Breedlove, Walker transformed herself from an uneducated laundress and a farm laborer to the first self-made black woman millionaires in the 20 th century. On the other hand, Henry Ford, who was born in 1863 and died in 1943, was an innovative engineer who designed a four-horse power gasoline engine in 1896 and later led to the birth of Ford Motor company. He also innovated model T that spark the market, making half of the cars in the market by 1918. Later, Ford became the largest automotive manufacturer, rising further after each obstacle. However, this became a disappointment later in 1931, leading to discontinuation of the company before beginning the manufacture of V-8 engines. 

History and Issues 

Sarah Breedlove was orphaned at age seven and had to face many obstacles to climb her way up to a successful businesswoman. She initially worked in the cotton fields, after which she got married at the age of 14 since Jesse Powel, her in-law was cruel. However, the beginning of her successful business journey began when she started to suffer from a scalp ailment in the 1090s (Gates, 2013). This ailment made her lose her hair, and hence she tried many home remedies, including those made by a black entrepreneur, Annie Malone, to which she became a sales agent in 1905 in Denver (Bundles, 2020). It was then that he met Joseph Walker, his third husband, and changed her name. She then had a dream and founded her own business for Hair Grower especially for black women. She devised several marketing and sales techniques that included traveling on dizzying crusades to market her product. Besides, she demonstrated her product's treatment abilities on scalps in church and also sold it door to door, making it known to the people. In 1910 she built her factory being the sole shareholder. Moreover, she organized her agents into clubs, both local and state. 

Henry Ford was born of Mary and William Ford, in Dearborn. At the age of 16, he worked as a machinist in Detroit before returning to Dearborn to work on the family farm as he also continued to work in Detroit. In 1891 he was hired in Ellison illuminating company as an engineer, where he kept rising in the ranks within two years. While working at Ellison, Ford produced a gasoline-powered, horseless carriage that he completed in 1896 and sold it to improve the prototype. Over the next seven years, Ford received support from several investors, and in 1903, Ford established the Ford Motor Company (Henry Ford, 2009). He later produced a reliable automobile, Model-T, that spark the market. As a result, he had to use techniques to increase his production to meet the high demands of the market. For instance, he standardized interchangeable parts and used large production plants. Besides, in the political realm, Ford was outspoken since he was enormously influential. During world war I, he drew controversies, and because of his anti-Semitic views, he earned widespread criticism. 

Comparison 

Madam CJ. Walker lived and sprouted in her business during a time that African-Americans were being sold into slavery or worked with low wages. However, she was determined to surpass every obstacle that came her way and take advantage of every opportunity to thrive. She did not let her lack of education pull her down (Bundles, 2020). Besides, Madam Walker had prescribed strategies for aspiring entrepreneurs. She said that faith in oneself and God, perseverance, tenacity, honest dealings, and quality products are the key to ascent from rags-to-riches. These also marked her strengths, which makes her approach more favorable compared to Ford's. Ford came from an established family and had well-paying jobs since he was 16. Therefore, when he decided to innovate his first quadricycle, starting capital was never the issue (McCormick & Folsom, 2020). However, like Madam Walker, he was also innovative and determined continuously to improve his products. He was hard working and thought critically to meet the demands of the people. His main weakness was that he did not draft a proper plan to beat his competitors and was unwilling to learn and work with others from the same industry. This later led to the discontinuation of Ford. 

Conclusion 

In conclusion, both Ford and Madam Walker were successful innovators that made a significant impact in the 2oth century. Besides, to be a successful business person, it requires consistency with the quality of products and a constant urge to improve and learn. It is also critical that as a business person, you trust in yourself and God. 

References 

Bundles, A. (2020). About Madam C.J. Walker | Madam C.J. Walker. Retrieved 21 August 2020, from http://madamcjwalker.com/about/ 

Gates, H. Madam Walker, the First Black American Woman to Be a Self-Made Millionaire | The African Americans: Many Rivers to Cross | PBS. Retrieved 21 August 2020, from https://www.pbs.org/wnet/african-americans-many-rivers-to-cross/history/100-amazing-facts/madam-walker-the-first-black-american-woman-to-be-a-self-made-millionaire/ . 

Henry Ford. (2009). Retrieved 21 August 2020, from https://www.history.com/topics/inventions/henry-ford . 

McCormick, B., & Folsom, B. W. (2020). The greatest entrepreneurs and businesspeople in American history: A replication of the 2001 ranking.  Cogent Business & Management ,  7 (1), 1735804.