William C. Durant Success Story

The most common way people give up their power is by thinking they don’t have any. But this does not go with the life of William C. Durant, a leading pioneer of the automobile industry in the United States. He was the one who created the multi brand holding system of cars in companies. He is most popularly known as the founder of General Motors

Childhood

He has a number of companies in his name, the most famous being General Motors co-founded with Frederic L. Smith and Chevrolet with Louis Chevrolet.William was born into a wealthy family in Boston, Massachusetts. He was not interested in studies and dropped out of high school and joined his grandfather’s lumberyard.By the year 1885, William partnered with Josiah Dort in order to create the Coldwater Road Cart Company.He worked as a cigar salesman in Michigan and later started selling carriages.

Career

In the year 1886, he founded the Flint Road Cart Company. He started with $2000 and made it into a business of $2 million, which is quite remarkable.By the year 1890, the company became the number one in the list of the manufacturing of horse-drawn vehicles.Durant has been always doubtful about cars. He thinks them as dangerous and loud. At the start of the 19th century, the government regulated safety of the gas powered horseless carriages. After realizing the potential and opportunity in this business, Durant decided to purchase Buick, a local car company. And in a month, he purchased the Olds Corporation as well. General Motors continued its spree of buying.

William also helped Albert Champion’s Champion Ignition Company during its financial crisis. This made the company overextended. William started taking interest in cars and was also approached to become the General Manager of Buick in the year 1904. He accepted the offer and made a similar success with Buick as well. Before the management of William, Buick had only built 37 cars. But with his exceptional selling skills, William got the order of 1,108 cars from a New York auto show.