Men and Rubber: The Story of Business by Harvey S. Firestone

Charlie Munger recommended I read Men and Rubber: The Story of Business by Harvey S. Firestone multiple times. It was pretty hard to track down, so when I finally got a copy, I republished it to make it more widely available.

This book is packed with timeless wisdom on starting and running a successful company.

Harvey S. Firestone was a visionary leader in American industry, and his insights remain as relevant today as they were when he first shared them. The enduring presence of Firestone tires on cars worldwide is a testament to his thoughtful approach to corporate leadership.

By reviving this classic, we’re ensuring that Firestone’s wisdom can continue to inspire and guide entrepreneurs and business leaders for generations to come.

Some Popular Highlights from the Book

“The most difficult thing in business is first getting yourself to thinking and then getting others to thinking. I say this is difficult because, in the natural course of business, an infinite number of details come up every day, and it is very easy indeed to keep so busy with these details that no time is left over for hard, quiet thought—for thinking through from the beginning to the end.”

“We try to substitute discussion for thought by organizing committees; a committee may function very well indeed as a clearinghouse for thoughts, but more commonly a committee organization is just an elaborate means of fooling oneself into believing that a spell spent in talking is the same as a spell spent in thinking.”

“Good management—that is, management with real thought behind it—does not bother trying to make its way by trickery, for it knows that fundamental honesty is the keystone of the arch of business. It knows that you will fail if you think more of matching competitors than of giving service, that you will fail if you put money or profits ahead of work, and that there is no reason why you should succeed if what you do does not benefit others.”

“Thought, not money, is the real business capital, and if you know absolutely that what you are doing is right, then you are bound to accomplish it in due season.”

“Quick decisions that have not behind them a long train of thought are exceedingly dangerous. Personally, I do not want to have around me the kind of man who can give me an instant decision on anything I may bring up, for, if he has not had the opportunity to give the question serious thought, then he is only guessing. And I can do my own guessing!”

“The test of a business man is not whether he can make money in one or two boom years, or can make money through the luck of getting into the field first, but whether in a highly competitive field, without having any initial advantage over his competitors, he can outdistance them in a perfect honourable way and keep the respect of himself and of his community.”

“Having a surplus is the greatest aid to business judgment that I know—and I bitterly know what I am talking about, for I went through years of upbuilding without being able to accumulate a surplus. Then, when I gained one, I saw it completely wiped out and turned into a deficit overnight. A man with a surplus can control circumstances, but a man without a surplus is controlled by them and often he has no opportunity to exercise judgement.”

“I notice that when all a man’s information is confined to the field in which he is working, the work is never as good as it ought to be. A man has to get a perspective, and he can get it from books or from people—preferably from both.”