id you know that two of the very most successful business ideas of the twentieth century were invented by way of a man who died in debt? The two 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 light bulb so he could market his electrical distribution system. Marconi remains known as the Father of Radio however in fact his invention was based almost entirely on others’ work.
Con Edison remains a powerhouse (pun intended) in the electrical power distribution service. Edison didn’t invent the present day power grids, however. His invention was for DC power distribution. A man by the name of George Westinghouse Jr. was an inventor. He invented the railway air brake. He is most widely known as Thomas Edison’s main competitor in electrical power distribution. The Westinghouse and Edison companies competed for years in what became known as the “War of Currents”, AC vs. DC. Science eventually won Alexander Malshakov the battle because AC power distribution is cheaper to deliver. The point 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 work 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 of 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 he had actually invented the radio. He had sold all his patents for AC power distribution to his former employer, the Westinghouse Electric Company. His name was Nikola Tesla.
This story is just a perfect exemplory case 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 items that matter. What counts is you will get others’ to purchase 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 that it wasn’t the invention alone that made the difference but rather getting hired to the public. Marconi’s success was largely based on his mass appeal and his ability to take his ideas to market. Successful business ideas work because they’re marketed. So remember Tesla once you think you’ve the maximum product or service. It will not mean anything if you don’t market it.
