There are a lot of great entrepreneurs out there, but one of my favorites is Thomas Edison. I think I’m such a fan because, like me, he failed so much more than he succeeded. Of course, he learned how to turn those failures into golden lessons.
When I was a kid, we learned about Thomas Edison in school. When I told my rich dad that we were studying Edison’s life, he asked me if they’d taught me how he became so prolific. “No,” I replied. “We only learned about how he invented the light bulb.” “Well, I'm sorry to contradict your teacher,” rich dad said. “But, Thomas Edison didn’t invent the light bulb.”
Rich dad explained that there were many other people who had invented light bulbs before Edison. The problem was that these light bulbs were not practical. They would die out too soon. Also, these inventors could not explain why a light bulb was commercially valuable.
In short, they had a great idea, but they didn’t have a business. Edison, on the other hand, not only invented a better light bulb, but he also built a business around it. He invented the first useful light bulb and he knew how to show its value.
Anyone can have a great idea, but only a great entrepreneur can make money with that idea. You probably have a great idea or product too. Just about everyone does. But do you know how to make money with it?
If you have the courage to pursue your idea, start with baby steps. Start with research, talking to people and flushing out your idea. Once you have figured out how to make money, THEN the fun begins. But, start with step one.
Thank you for reading. As always, if you find value in these emails, please share them with your friends.
Salvador Gaviola III
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