Why Thomas Edison Was Rich and Famous “So what did you study in school today?” asked rich dad. Thinking about my day for a while, I finally replied: “We have been studying the life of Thomas Edison.” “That’s an important person to study,” said rich dad. “So did you discuss how he became rich and famous?” “No,” I replied. “We only discussed his inventions, like the light bulb.” Rich dad smiled and said, “Well, I have to contradict your teacher, but Thomas Edison did not invent the light bulb… but he did perfect it.” Rich dad explained that Thomas Edison was one of his heroes and he had studied his life. “So, why is he credited with inventing it?” I asked. “There were other light bulbs invented before his light bulb, but the problem was they were not practical. The early bulbs did not burn long enough. Also, the other inventors could not explain how the light bulb could have any commercial value.” “Commercial value?” I asked in a puzzled tone. “In other words, the other inventors did not know how to make money from their invention…and Thomas Edison did,” added rich dad. “So, he invented the first useful light bulb and he also know how to turn the bulb into a business,” I stated. Rich dad nodded his head, “And it was his business sense that made so many of his inventions so useful to millions of people. Thomas Edison was more than an inventor. He was the founder of General Electric and many other major companies. Did your teachers explain that to you?” “No,” I replied. “I wish they would have. I would have been more interested in the subject. Instead, I was bored and wondering how Thomas Edison was relevant to real life. If they have told me how he became so rich, I would have been much more interested and listened more closely.” Rich dad laughed and told me how Thomas Edison the inventor also became a multimillionaire and founder of a billion-dollar corporation. Rich dad went on to say that Edison dropped out of school because his teachers thought he was not smart enough to succeed in school. He than took a job selling candies and magazines on the railroads as a young boy. There, he developed his sales skills. Soon, he began to print his own newspaper in the back of the train and then hired a team of boys to sell not only his candies, but also his newspaper. While still a boy, he went from employee to business owner, employing a dozen other boys, in about a year. “So that is how Thomas Edison began his business career?” I asked. Rich dad nodded his head and smiled. “Why didn’t the teachers tell me that?” I asked. “I would have loved to have heard that story.” “There is more,” said rich dad as he continued with Edison’s story. Edison soon grew bored of his business on the train and began learning how to send and receive Morse code so he could get a job as a telegraph operator. Soon, Edison was one of the best telegraph operators around and he travelled from city to city using his telegraph operator skills. “It was what he learned from being a young entrepreneur and a telegraph operator that gave him the edge as a businessperson and an inventor of the light bulb. “How did being a telegraph operator help him become a better businessman?” I asked, now confused. “What does this story have to do with me becoming rich?” “Give me time to explain,” said rich dad. “You see, Thomas Edison was more than just an inventor. As a young boy, he became a business owner. That is why he became very rich and famous. Rather than going to school, he gained the business skills required for success in the real world. You asked me why the rich get rich, didn’t you?” “Yes,” I replied, nodding and feeling a little embarrassed for interrupting my rich dad. “What made him famous relative to the light bulb was his past experience as a businessperson and a telegraph operator,” rich dad said. “Being a telegraph operator, he knew that what made the inventor of the telegraph so successful was because it was a business system – a system of lines, poles, skilled people, and relay stations. As a young man, Thomas Edison understood the power of a system.” I jumped in, “You mean because he was a businessperson, he realized how important the system was. The system was more important than the invention.” Rich dad nodded. “You see, most people go to school to learn to be an employee of a system; they fail to see the big picture. Most only see the value of their job because that is all they are trained to see. So, they see the trees and not the forest.” ”So, most people work for the system rather than own the system,” I added. Nodding in agreement, rich dad said, “All they see is the invention or product, but not the system. Most people fail to see what really makes the rich rich.” “So, how does this apply to Thomas Edison and the electric light bulb?” I asked. “What made the light bulb powerful was not the light bulb, but the system of electrical lines and relay stations that powered the light bulb,” said rich dad. “What made Thomas Edison rich and famous was that he could see the big picture while other people only saw the light bulb.” “And he could see the big picture became of his business experience on the train and his experience as a telegraph operator,” I replied. Rich dad nodded. “Another word for system is ‘network.’ If you really want to learn how to be rich, you must begin to know and understand the power found in networks. The richest people in the world build networks. Everyone else is trained to look for work.” “The richest people in the world build networks. Everyone else is trained to look for work.” “Without the electrical network, the light bulb would have very little value to people,” I said. “You’re getting the idea,” smiled rich dad. “So what makes the rich rich is that they build and own the system… the network. Owning the network makes them rich.” “A network? So if I want to become rich, I need to learn how to build a business network?” I queried. “You’re getting the idea,” rich dad said, “There is more than one way to become rich, but the ultra-rich have always built networks. Just look at how John D. Rockefeller became one of the wealthiest men in the world. He did more than just drill for oil. John D. Rockerfeller became one of the richest men in the world because he built a network of gas stations, delivery trucks, ships and pipelines. He became so rich and powerful because of his network that the U.S. government forced him to break up his network, calling it a monopoly. “And, Alexander Graham Bell invented the telephone, which eventually became a telephone network called AT&T,” I added. Rich dad nodded. “And later came radio networks and then television networks. Every time a new invention came along, the people who got rich were the people who built and owned the network that supported the new invention. L Many high-paid stars and sports athletes are rich simply because radio and television networks make them rich and famous. “So why doesn’t our school system teach us to built networks? I asked. from the book business school by robert kiyosaki.
Posted on: Sat, 07 Sep 2013 06:30:58 +0000
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