Friday, 26 October 2012
Lamborghini (entrepreneur fact file)
Ferruccio Elio Arturo Lamborghini
This well renowned Italian entrepreneur started of as an industrialist. His mechanical know-how led him to enter the business of tractor manufacturing in 1948, when he founded Lamborghini Trattori, which quickly became an important manufacturer of agricultural equipment in the midst of Italy's post-war economic reform. This business elevated rapidly due to demand and soon it was bringing in tons of profit. Lamborghini’s increasing wealth allowed him to purchase faster, more expensive cars than the tiny Fiats he had tinkered with during his youth. He became so rich; he experienced a variety of supercars during his average week, changing everyday. One day he decided to get a Ferrari. After he had bought it, he realized how inferior the clutch, requiring several trips to Maranello to get it fixed. Thus, one annoyed Lamborghini modified the Ferrari’s clutch and enhanced other elements to improve performance. When completing this, he took the Ferrari to Enzo Ferrari to make him aware of the issues. Ferrari was offended.
Lamborghini, later, decided to open his own automobile company, resulting in rivalry between him and Ferrari.
Judging by his actions, I think he was a very determined individual who had a strong passion for automobiles, resulting in him being successful in his business. He calculated the risk of failure well by thriving for perfection in his cars. He could have failed and his farming machinery’s (Lamborghini tractors) reputation would have been effected tremendously. However, due to his financial strength, he could afford to take an economical dent if his supercar field went down in ashes. He had little risk of losing as his cars were similar to Ferrari’s, but with enhanced features. The rewards were vast and thus he became so famous. Fortunately for him, he didn’t fail during his journey to produce Lamborghini automobiles.
In 1974, Ferruccio sold Lamborghini and went to retire. Now Lamborghini is a subsidiary of 3 famous car companies and is part of a split ownership.
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This is a very detailed account of an entrepreneur I know little about in detail. You can see from the information you have gathered that he was also a very creative and innovative entrepreneur! What else made him successful though?
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