ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

The Edison Blueprint: 5 Steps to Bulletproof Your Business Startup Success

Updated on January 20, 2020

I never perfected an invention that I did not think about in terms of the service it might give others… I find out what the world needs, then I proceed to invent.

-Thomas Edison

Awaken the Thomas Edison within!

Edison claimed that coming up with ideas for inventions is easy but its “the long laborious trouble of working them out and producing apparatus which is commercial” that requires the hard work. Edison Blueprint’s theory is based on YOU playing the central role in the production of goods & services and marketing them.

This post is aimed to hold your hand (almost) and walk you through the exact steps you must take to reach your first profitable idea, verify it and get the first sale even if you have no idea of any product or service that you can provide today.

Remember, this is as far as I can take you. It is your responsibility to take action on these steps. You have to do your own push-ups. I can’t do it for you.

Edison had proved that innovation could be regularized and placed in the format of mass production. His plan was not to create some large scale enterprises, but a focused creation process to bring consumer durable to the mass market.


Source

On top of that, there are only FIVE THINGS you need to do to lay the proper foundation of your financial freedom through business start-up, the way Thomas Edison did it:

  • Find the idea with potential for profit
  • Test the idea, validate it
  • Make the first sale
  • Repeat 1, 2 & 3 if required
  • Scale like crazy

Despite creating large projects such as introducing electricity, Edison concentrated majorly on small products with high-profit potential and low capital requirements; he planned to supply small items of commerce, “useful things that every man, woman, and the child wants.

Edison’s whole business was based on the new products coming from his laboratory. In order to come up with things that every man, woman, and the child wants, he first finds what they want. He then heads to his lab, where a solution is developed. He then devises an assembly line for each new product and, if early sales were encouraging, quickly set up companies and built factories.

Edison’s every new product led to a new company and a new manufacturing facility wherever required. That's a business start-up for Edison.

Source

But this was just the beginning, the key to his powerful empire was this: Speed of moving into new areas. Once a demand is met, and he verified the profitability of an idea, he moves to scale it with a speed which in today’s time is horrific for modern businessmen (and my colleague MBAs) who prefer years of preparation and market research before embarking on a new venture.

Edison originated a method of managing his research and product development activity and organizing a business enterprise around the flow of new ideas and products coming from the lab. Exactly what Apple is doing now and you should do too. I am not saying you should have patents too (its great if you have some, but you don’t really need them).

There had been little or no planning in the assembly of Edison’s business empire. He pursued the policy of expansion without regard to the overall development of the organization, forming new companies and building factories as the need arose.

He is quoted for saying that “I honestly believe that I can build up work in 15 to 20 years that will employ 10 to 15,000 men and yield 500 percent to stockholders.”

At the time of his death in 1931, his company, Thomas A. Edison Incorporated was returning an average yearly surplus of $7 million.

Source

This is what you are going to do. You don’t need a business plan, you don't need finances yet, you don't even need staff or research. You are the staff and your computer in the lab.

working

This website uses cookies

As a user in the EEA, your approval is needed on a few things. To provide a better website experience, hubpages.com uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at: https://corp.maven.io/privacy-policy

Show Details
Necessary
HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
LoginThis is necessary to sign in to the HubPages Service.
Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
AkismetThis is used to detect comment spam. (Privacy Policy)
HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the googleapis.com or gstatic.com domains, for performance and efficiency reasons. (Privacy Policy)
Features
Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
MavenThis supports the Maven widget and search functionality. (Privacy Policy)
Marketing
Google AdSenseThis is an ad network. (Privacy Policy)
Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
Index ExchangeThis is an ad network. (Privacy Policy)
SovrnThis is an ad network. (Privacy Policy)
Facebook AdsThis is an ad network. (Privacy Policy)
Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
AppNexusThis is an ad network. (Privacy Policy)
OpenxThis is an ad network. (Privacy Policy)
Rubicon ProjectThis is an ad network. (Privacy Policy)
TripleLiftThis is an ad network. (Privacy Policy)
Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
Statistics
Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)
ClickscoThis is a data management platform studying reader behavior (Privacy Policy)