The majority of Approximately Successful Business Choices
id you realize that two of the very successful business ideas of the twentieth century were invented by a man who died in debt? The 2 inventions remain in wide use and generate a huge selection of billions in revenue each year. We consider Thomas Edison since the inventor of the light bulb. The simple truth is that Edison invented the bulb so he could market his electrical distribution system. Marconi is still referred to as the Father of Radio in fact his invention was based almost entirely on others’ work.
Con Edison is still a powerhouse (pun intended) in the electrical power distribution service. Edison didn’t invent the current power grids, however. His invention was for DC power distribution. A person by the name of George Westinghouse Jr. was an inventor. He invented the railway air brake. He is most widely referred to as Thomas Edison’s main competitor in electrical power distribution. The Westinghouse and Edison companies competed for decades in what became referred to as the “War of Currents”, AC vs. DC. Science eventually won Alexander Malshakov the battle because AC power distribution is cheaper to deliver. The idea listed here is that neither Westinghouse nor Edison invented it.
The Marconi Company was wildly successful as was Marconi himself. He was awarded the Nobel Peace Prize for his focus on the radio. He was heralded as one of many greatest inventors of most time. He later became a Senator in his native Italy. His fame and fortune were stupendous! He, however, didn’t invent the radio.
The inventor of both these died in debt and alone in the New Yorker Hotel. Which was January of 1943. Later that same year the US Supreme Court upheld his patent which, in effect, said that he had actually invented the radio. He had sold all of his patents for AC power distribution to his former employer, the Westinghouse Electric Company. His name was Nikola Tesla.
This story is really a perfect example of the truth about successful business ideas. Edison, Westinghouse and Marconi all knew the truth. Marketing could be the key. Successful business ideas aren’t the only issues that matter. What counts is that you get others’ to get them. Thomas Edison’s company didn’t fail because his DC power distribution didn’t win. He adapted his company to distribute AC. Westinghouse knew so it was not the invention alone that made the difference but instead setting it up to the public. Marconi’s success was largely centered on his mass appeal and his capability to take his suggestions to market. Successful business ideas work because they are marketed. So remember Tesla when you think you have the greatest product or service. It will not mean anything until you market it.