“Experience is that marvelous thing that enables you to recognize a mistake when you make it again.” – Franklin P. Jones
Becoming an entrepreneur is about taking an idea and making a successful business from the sale of the idea. If the idea is a product, the sale of the product will require more than simple creativity and innovation.
An expert is a person who has made all the mistakes that can be made in a very narrow field. Niels Bohr
In the 1980s a father in Wyoming created a product for his daughter to play with. The invention consisted of a wheel that was roughly the size of a toy wagon wheel. A separate pole with a stabilizing device attached was used to keep the wheel upright and balanced. This invention provided hours of amusement for his daughter, but when he tried to develop a business selling the product he discovered there was absolutely no market for it. This same gentleman also attempted to prove the viability of the manufacture of cement brickettes as a cost effective substitute for lava rocks in gas grills. He rejected the idea when after a few grillings the cement literally exploded causing the destruction of his grill as...
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