Opinions expressed by Entrepreneur contributors are their own.
Andrew Carnegie was at the height of his success in the early 20th century and had a perspective that would define his legacy and guide countless entrepreneurs for generations. Carnegie was born into a poor family in Scotland, but emigrated to the United States, where he rose from being a telegraph operator to owning a quarter of the American steel industry through sheer determination and strategic vision.
In 1902 he was the richest man in the world, yet he espoused a powerful, surprisingly simple philosophy of success: “No one makes a great business who wants to do it themselves or take all the credit.”
This is not a quote from the past; it’s a timeless principle that anyone building something bigger than themselves must remember. Carnegie didn’t just build a business; he built an empowerment machine using delegation and talent to reach the pinnacle he envisioned.
Here’s how Carnegie’s wisdom on leadership, teamwork and delegation still holds deep insights for today’s entrepreneurs and business leaders.
Related: How Andrew Carnegie Found Success in the Face of Failure
So why don’t visionary leaders do it all?
As entrepreneurs, we often think we have to do it all ourselves. Society’s motive is often a fierce desire to control. Sticking to every task, as Carnegie’s journey shows, is not only unsustainable—it’s counterproductive. Carnegie realized that real growth requires a structure that allows leaders to do what they do best while effectively distributing responsibility.
For Carnegie, the answer was clear: We hire talented people and empower them. It wasn’t about giving up control; it was about freeing yourself and directing your business towards bigger goals.
How to create a system that works for you
Carnegie was a master at systematizing and processing his business so that it operated efficiently. It was simple but powerful. His trusted managers reported to him every morning. He couldn’t micromanage; suggested and let them act based on their expertise. He would finish his day’s work within an hour and his team would execute his vision while he strategized and enjoyed his day.
Takeaway? If you want to grow, you need to spend less time working in your business and more time to work we it. Carnegie’s system worked because he trusted his team, had clear processes and empowered people to take responsibility. This led to a business that could function and grow without him.
Getting the “right people” — Carnegie’s biggest advantage
Carnegie was known for surrounding himself with people who were often “better” than him in certain areas. He didn’t want to be the smartest person in the room; he valued expertise and allowed people to assert their best skills. His secret was this: Hire people who are better at things than you and let them do their thing.
Imagine being able to delegate complex tasks to people who could do them better than you. That was the secret sauce that made Carnegie’s empire possible. He knew that if the right team multiplied the business, the results were much more than the sum of the parts.
Related: You don’t have to go it alone. It’s time to let go and let others help.
Investing in growth through delegation
For many entrepreneurs, delegating can feel like a loss of control. But Carnegie saw delegation in a different light — as an investment that would free up his time to focus on moving the company forward. It was about getting rid of small, repetitive tasks and focusing on high-impact decisions.
Ask yourself: Are you spending your time on $10 tasks or billion dollar ideas? It’s not just about saving time; it is a change of focus. When you delegate effectively, you don’t just save your work; you create space for innovation, strategy and growth.
Carnegie Principles of Delegation Today
-
Identify your high-value tasks: What tasks that only you can do have the biggest impact? These are the tasks you should spend your time on. The rest should be delegated.
-
Build trust with your team: Effective delegation is based on trust. If you don’t trust your team, they won’t perform to their potential. Invest in your team, train them well and give them the tools to succeed.
-
Set up clear systems and processes: By having clear guidelines and processes, you create a framework for your team to work independently. It provides consistency and quality without the need for constant supervision.
-
Gradually lose control: Start by delegating simple tasks. Gradually delegate more complex responsibilities as you build trust and see positive results. This will help you slowly move into a culture of effective delegation.
-
Celebrate success together: Carnegie knew that a team that felt appreciated would go above and beyond, and he believed in sharing the credit. Give credit where it’s due and acknowledge your team’s efforts. It’s not just moral support; it’s an investment in a motivated, loyal team.
What the Richest Man in 1902 Can Teach You About a Billion Dollar Lesson
If there’s one lesson Carnegie taught, it’s this: A business built on the strength of one man can’t grow very far. A business that relies on the strengths of many people can go to unimaginable heights. If you want to do something great, you have to stop doing it and start leading.
Ultimately, it’s not about giving up control; it’s about building a business that doesn’t require your day-to-day involvement. When you empower others, you’re not only growing your business, you’re reclaiming your time. And when you’re not overwhelmed by all the little tasks, you have more freedom to think bigger, plan ahead, and live life to the fullest, as Carnegie showed.
Related: How to reclaim your time and start focusing on the big picture of your business
Carnegie’s philosophy is a blueprint for every modern entrepreneur. The richest man in 1902 had a vision that still holds true today: Great businesses are not built by individuals; they are created by powerful teams. If you find yourself stuck in day-to-day operations, remember Carnegie’s words: “No one makes a great business who wants to do it himself or take all the credit.”
Your time is the most valuable thing you have. Invest it, protect it, use it wisely. By building a team you can trust, creating strong systems and delegating with purpose, you can transform your business and your life to focus on what really matters: growth, innovation and legacy.