Are the Inventors the Entrepreneurs without Money? (VII)
Hello to all: I hope you have all the energy and hope for your week endeavors and activities. Lots of best wishes to you in everything you are planning to do. May God and Jesus bless you endlessly. Let’s continue with the Chronicles Entrepreneurs without Money. Today´s topic is “Money for nothing?. Is the entrepreneurial activity seen as a cost or as an investment?”. We will publish it, in three parts: (1) Aujourd´hui is about a general introduction about inventors and entrepreneurs which changed the world; (2) the second share will be about showing you how entrepreneurs are financed in the different stages of their businesses evolution (who invests in them, what type of financing is available, where do they find the money, and why do they ask for money). And (3) the last portion of this topic will be why do we need to conceive a new financing model for entrepreneurs for the next generations.
Let´s start with the introduction, let me contextualize this theme beyond the financing already established for entrepreneurs. It is about understanding how to finance entrepreneurship right and correctly. It is not about showing you a punch list of historical chronicles of how to find the money for entrepreneurs’ dreams or to understand the financial support needed for entrepreneurship flourishing. Are we using the correct philosophy to finance entrepreneurs?
Let me tell you what inspired me to write this. Yesterday afternoon, I was watching a TV program on the H2 History Channel: “101 Inventions That Changed The World”. This program was produced 5 years ago. And it is a “life story of the top 101 inventions”, which impacted so profoundly the way we do things throughout history. A panel of Popular Mechanic’s magazine editors and other professionals related to inventions made a list of the 101 greatest inventions of all time. When watching the program, I took the time to write each of them on a piece of paper. If you have not seen this TV documentary, I invite you to do it. Moreover, National Geographic and the BBC have also realized their own versions of it, with rankings based on other institutions research and other variables in consideration. Find the preview below:
The History Channel website shows us the summary of the documentary: “It starts with a spark, but some ideas catch fire and in the process change the world. Necessity is the mother of invention–from darkness, man found the light (the candle) and from even the farthest distances we can still find each other (the telephone). But some inventions have transformed our lives far beyond our homes (the steam engine), our planet (the telescope), and our wildest dreams (the Internet). This countdown highlights how human ingenuity comes in all shapes and sizes. Some were born from the humblest means (the hammer) while others push the limits of what was ever believed possible (the airplane). But regardless of the ratio of inspiration to perspiration, each invention to make the cut was destined to change our lives forever”.
Moreover, our own general introduction reflections reveal the nature of the entrepreneurs. Since the beginnings of our history, inventors were the first entrepreneurs of the world. Inventors were the entrepreneurs which changed the history. There was no separation between the inventor and the entrepreneur. The concept was unique. We can name each of them as responsible for the 101 inventions we saw in the documentary. All of these inventors were also entrepreneurs. Steve Jobs was an inventor and an entrepreneur (have you followed me?).
One of the main characteristics of human beings is their constant curiosity and innovation for problem-solving, this is connected to the capacity to invent. To find innovative solutions to our problems. How to fix our needs or wants by inventing instruments or technologies or mechanical devices or apparatuses or appliances or tools which can facilitate our life?. If you watch the documentary, despite the year of the invention, the common denominator of each of the 101 inventions listed, all of them were created by human beings, regardless the profits or economic industry. The inventors created inventions to help the humanity.
Many of the inventions listed at this History Channel Documentary were outstanding solutions for the needs of the people. But the solutions were not holistic. That is the case with the non-recyclable plastics for example. The solutions did not take into account the pollution caused, or the destruction of natural resources, or the psychological damage it can cause to the humanity. The reason why we always tell you to slow down is that we have observed 100 years of inventions, and we wish you to become the new generation of entrepreneurs who will be an “integral inventor”.
Regardless of the type of the invention, let´s understand the motivation of the list. The experts who made it selected these inventions asking themselves: Has the invention changed the way in which human beings have lived? What has been this impact in the world? They changed the way we live. These inventions fluctuate from simple tools to complex machines or robots. Simple utensils such as nails, chisel, hammer, candle, oil lamps, or stirrup to more complex machines and emerging virtual technologies based in mechanics and technological advancements such as a cinema camera, steam engines, credit cards, elevators, solar panels, navigation locks, bicycles, jet engines, vapor turbines, aqueducts, nuclear energy, X Rays, light bulbs, wheels, toilets, Laser, paper, automobile, space rockets, smartphones, microchips, TV, antibiotics, vaccines, airplanes, artificial intelligence, etc.
The last paragraph brings our attention to the bottom line of this week topic:
- How did the inventors of all those tools, technologies, appliances and machines get the money to invent?
- Who paid for their inventions?
- Did the inventors ask for money first and then created the inventions?
- Or did they design and create the inventions after so many trials and errors, and then asked for the money?
- Were these inventors rich? or were they poor?
- What did it take to become an inventor? To be a Scientist? To dedicate the whole life to study and invent?
- Did the inventors sacrifice their lives without a penny until they created the invention?
- Did the inventors live a wealthy life and became rich after the inventions were sold as hotcakes?
- Are the inventors the ones who trigger entrepreneurship? Who gets the money? The inventors? Or the Sponsors or Financiers?
- Are the inventors, always, the poor actors of the history?
- Why do we end up separating the concept of the inventor from the concept of the entrepreneur?
- Nowadays, are the inventors the entrepreneurs without money? Is it fair?
To be continued…
Note: Just remember I am not a native English speaker. And I am a writer. I try to do my best by publishing in English. Sorry for the typos or the mistakes I do, every now and then. In addition, since I am an entrepreneur without money, my apologies for not showing original videos. Thanks.
Disclaimer: All the presentation slides shown on this blog are prepared by Eleonora Escalante MBA-MEng. Nevertheless, all the pictures or videos shown on this blog are not mine. I do not own any of the lovely photos or images posted unless otherwise stated.
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