Conviction and Greatness

The Unwavering Belief of Robert Chesebrough

In the annals of entrepreneurial history, there are countless stories of visionaries whose unwavering conviction propelled them to greatness. One such story is that of Robert Chesebrough, the inventor of Vaseline. His tale is not just one of innovation but of an almost obsessive belief in his creation—a belief so strong that it became a testament to the power of conviction in achieving greatness.

The Discovery of Vaseline

Robert Chesebrough, a chemist by trade, discovered Vaseline in the 1860s. While visiting oil fields in Titusville, Pennsylvania, he noticed that oil workers used a residue called "rod wax" to heal cuts and burns. Intrigued by its potential, Chesebrough took samples back to his laboratory and began refining the substance. Through extensive experimentation, he developed a purification process and produced a clear, stable jelly that he named "Vaseline."

The Power of Belief

Chesebrough was not just an inventor; he was a relentless marketer and advocate for his product. He believed so fervently in Vaseline's medicinal properties that he went to extraordinary lengths to prove its efficacy. Famously, Chesebrough claimed to have eaten a spoonful of Vaseline every day of his life, convinced of its health benefits. His dedication did not stop there. During a severe bout of pleurisy in his 50s, Chesebrough ordered his nurse to cover him from head to toe in Vaseline. He soon recovered, further cementing his belief in the product's healing powers.

Living by Example

Robert Chesebrough's life was a testament to the power of conviction. He lived to be 96 years old, attributing his longevity, in part, to his daily consumption of Vaseline. Whether or not Vaseline had any real medicinal benefit when ingested is debatable, but Chesebrough's unwavering belief in his product was undeniable. His personal endorsement and the dramatic demonstrations of Vaseline's supposed healing properties helped establish the product's reputation and success.

Conviction and Greatness

The story of Robert Chesebrough poses an intriguing question: Are conviction and greatness inherently linked? Chesebrough's success was undoubtedly fueled by his unshakable belief in Vaseline. His conviction drove him to overcome skepticism, market his product tirelessly, and turn Vaseline into a household name. It exemplifies how a steadfast belief in one's vision can lead to remarkable achievements.

However, conviction alone is not a guarantee of greatness. It must be coupled with innovation, perseverance, and the ability to adapt to challenges. Chesebrough's story shows that conviction can be a powerful force, but it must be grounded in a sound product and a willingness to prove its worth.

Are you the number one advocate of your product/service?

Building for the Future - Lessons from Wall Street

The 1987 Oscar-winning movie Wall Street, featuring Michael Douglas and Charlie Sheen, is iconic for many reasons. It captured the essence of 1980s excess with Douglas’s character, Gordon Gekko, advocating that “greed is good” and “lunch is for wimps.” It also showcased the era's cutting-edge technology through Gekko’s huge brick-like mobile phone, which was likely the first time a mobile phone took center stage in a film.

Fast forward thirty years, and Gekko’s brick-like mobile phone looks laughably outdated. It dates the movie, much like the red braces and big shoulder pads that were the fashion of the time. But back then, it was a must-have for the wealthy elite. Today, mobile phones are ubiquitous, transcending socio-economic boundaries to become essential tools even in the poorest developing countries.

This evolution underscores a significant trend: what the rich use today, the rest of us will use tomorrow. Often, it is the wealthiest who begin a trend, setting the stage for what will eventually become commonplace. Google’s chief economist, Hal Varian, highlighted this phenomenon, offering us a lens to understand future trends and opportunities.

Leveraging This Trend for Success in the Developing World

Entrepreneurs, especially those looking to make a mark in the developing world, can learn from this pattern. By observing the habits and technologies embraced by the affluent today, we can predict what might become widespread tomorrow. Here are some innovative ideas based on current trends among the wealthy that could become successful ventures in the developing world:

1. Personalized Nutrition and Health Tracking:

   • Idea: Develop affordable wearable devices and mobile apps that offer personalized nutrition and health tracking.

   • Impact: Help individuals in developing countries monitor their health, manage chronic diseases, and maintain balanced diets using locally available foods.

2. Advanced Water Purification Systems:

   • Idea: Create cost-effective and portable water purification systems that use advanced filtration technology or solar-powered purification.

   • Impact: Provide clean drinking water to remote and underserved communities, reducing waterborne diseases.

3. Micro-Financing Platforms with Blockchain Technology:

   • Idea: Develop blockchain-based micro-financing platforms that provide secure, transparent, and low-cost financial services to the unbanked population.

   • Impact: Enable small businesses and individuals to access credit, savings, and insurance products, fostering economic growth.

4. AI-Powered Agricultural Tools:

   • Idea: Introduce AI-driven tools and apps that offer real-time crop monitoring, pest detection, and weather forecasting to small-scale farmers.

   • Impact: Improve crop yields, reduce losses, and optimize resource usage, enhancing food security.

5. Affordable Telepresence and Remote Work Solutions:

   • Idea: Develop low-cost telepresence robots and remote work platforms that enable people to work or attend school from anywhere.

   • Impact: Increase access to education and job opportunities in remote or economically disadvantaged areas.

6. Energy-Efficient Building Materials:

   • Idea: Innovate sustainable and affordable building materials that provide better insulation and energy efficiency.

   • Impact: Reduce energy consumption, lower housing costs, and improve living conditions in developing regions.

7. On-Demand Localized Delivery Services:

   • Idea: Create scalable, app-based delivery services using electric bikes or drones for efficient logistics in urban and rural areas.

   • Impact: Improve access to goods and services, boost local economies, and reduce carbon emissions.

8. Mobile-Based Skill Development Platforms:

   • Idea: Develop mobile platforms offering vocational training and skill development courses tailored to local job markets.

   • Impact: Empower individuals with the skills needed to secure better employment and stimulate economic development.

9. Virtual Reality (VR) for Education and Training:

   • Idea: Introduce affordable VR systems for immersive learning experiences in education and professional training.

   • Impact: Enhance the quality of education and training, making it accessible to more people in diverse locations.

10. Smart Waste Management Solutions:

    • Idea: Implement IoT-enabled waste management systems that optimize waste collection and recycling processes.

    • Impact: Improve sanitation, reduce environmental impact, and create jobs in waste management and recycling industries.

In Japan, there are services where you can rent a person to listen to you talk about your problems, no advice or judgment given. It's part of Japan's booming 'rent-a-friend' industry and is meant to help people who need someone to talk to without any strings attached..

There's a word in Japanese, gaman, that translates roughly as "stoic forbearance in the face of the unbearable." It's a deep-seated Japanese value, this idea that you suck it up no matter what. A lot has been happening lately. Anxiety and depression spiked after the Fukushima nuclear disaster. The country itself is shrinking, its population plummeting and aging rapidly. And there's the apparently growing problem of people who literally work themselves to death; a third of suicides have been attributed to overwork. All of that, Yumi and Taka say, but you act like everything's fine.

Enter the rent-a-friend. Not a miracle cure, no. But maybe a pressure valve.

Is there a true subsitute for human interaction? Will/Can AI solve for this. Is there a new niche between therapy , companionship and remote “Availability To Listen As A Service -ATLAAS)

The Rebirth of Community: Startup Opportunities in the Age of Loneliness

In today's rapidly changing world, the concept of the nuclear family is undergoing a significant transformation. For decades, the trend has leaned towards smaller family units, individualism, and an increased sense of isolation. However, recent research and societal shifts suggest a resurgence in the importance of community and family connections. As entrepreneurs, this presents a unique opportunity to tap into a trend that is here to stay.

The Loneliness Epidemic

The modern age has brought unprecedented technological advancements, yet it has also ushered in an era of profound loneliness. Studies show that loneliness can have severe impacts on mental and physical health, equating its effects to smoking 15 cigarettes a day. In response, people are seeking deeper connections and a sense of belonging, leading to a renewed interest in community and family-oriented lifestyles.

The Shift Back to Community

The COVID-19 pandemic accelerated this shift, forcing many to re-evaluate their social structures. With remote work becoming the norm and social distancing measures highlighting the importance of human interaction, families and communities have started to play a more central role in people's lives. This shift is not just a fleeting trend; it's a fundamental change in how we view our social fabric.

Startup Opportunities: Cashing In on the Community Trend

As an entrepreneur, recognizing and capitalizing on this transition can lead to innovative and scalable business ideas. Here are some research-backed startup concepts that align with the resurgence of community and family values:

1. Co-Living Spaces: Develop modern co-living spaces that foster a sense of community. These spaces can offer shared living environments with communal kitchens, living areas, and recreational spaces, promoting social interaction and reducing the feeling of isolation.

2. Community-Centric Platforms: Create digital platforms that connect people within local communities. These platforms can facilitate neighborhood events, group activities, and support networks, encouraging people to engage more with their local environment.

3. Family Support Services: Launch services that support families in their day-to-day lives. This could include childcare solutions, elder care services, or platforms that connect families with local tutors, coaches, and mentors.

4. Mental Health and Wellness Apps: Develop apps focused on improving mental health through community support. Features could include group therapy sessions, community challenges, and wellness tracking, all designed to foster a sense of belonging.

5. Skill Sharing and Learning Communities: Establish platforms where individuals can share skills and knowledge within their community. Whether it's cooking classes, gardening tips, or DIY projects, these platforms can help people connect over shared interests and learn from one another.

6. Local Produce and Craft Marketplaces: Create online marketplaces that connect local artisans and farmers with their communities. This not only supports local economies but also encourages community members to engage with and support each other.

The Business Case for Community

Investing in these ideas is not just about capitalizing on a trend; it's about addressing a fundamental human need for connection and belonging. By fostering community and family bonds, these startups can create sustainable business models that thrive on the inherent desire for social interaction and support. It may sound boring but it scales.

Barons of Beverage - Coca Cola and Starbucks - The CEOs of two of the biggest beverage distributors in the world discuss their business strategies. Must watch for every budding entrepreneur.

Be a Ladder in Times of Economic Peril

In the current economic climate, with major job losses and financial instability affecting millions worldwide, the value of our time and how we choose to spend it has never been more critical. As entrepreneurs, we have a unique opportunity to not just navigate our own paths to success but to become the ladders that others can climb. This week, let's focus on how one selfless act can create a ripple effect of support and opportunity in these challenging times.

Be the Ladder Others Can Climb

Economic downturns often leave individuals feeling isolated and uncertain about their future. By becoming a social and intellectual ladder, we can provide the support and guidance that many desperately need. Here’s how you can make a difference:

1. Share Your Time and Knowledge: In a world where many are struggling, your insights and experiences can be a lifeline. Offer your time to mentor others, share your learnings, and provide guidance to those navigating unemployment and career transitions.

2. Recognize and Appreciate Mentors: When you're just starting out or facing your own challenges, acknowledge those who extend a helping hand. Their guidance is invaluable, and your gratitude reinforces the importance of these connections.

3. Be a Connector: Use your network to connect people with opportunities. Often, individuals can see the ladder but are afraid to climb it alone. By introducing them to the right people and resources, you can help them overcome their fears and take the next step.

The Bi-Directional Nature of Learning

Mentoring and sharing knowledge during times of economic hardship is not just beneficial for those receiving help; it’s also immensely rewarding for those who give. Here’s why:

• Enhanced Learning: Teaching and mentoring others can solidify your own knowledge and lead to new insights. The process of explaining concepts forces you to think critically and can reveal new perspectives.

• Strengthening Community: By helping others, you foster a sense of solidarity and resilience within your community. This network of support can lead to new opportunities and collaborations.

• Creating Positive Change: Your efforts can inspire those you help to become mentors themselves, creating a cycle of support and empowerment that extends beyond immediate economic challenges.

Practical Steps to Become a Social and Intellectual Ladder

1. Host Knowledge-Sharing Sessions: Regularly dedicate time to hold informal sessions where you can share expertise and provide support. These can be virtual webinars, group discussions, or one-on-one mentoring.

2. Engage in Mentorship Programs: Join or establish mentorship initiatives within your community or industry. Formalizing these relationships can help structure the mentoring process and ensure consistent support.

3. Write and Share Your Insights: Utilize blogs, social media, and newsletters to share your experiences and insights. Documenting your journey can reach a broader audience and provide guidance to many.

4. Show Genuine Gratitude: Always express appreciation to those who have helped you. Recognizing their support strengthens these relationships and encourages a culture of mutual respect and gratitude.

5. Be a Connector: Actively look for opportunities to connect people in your network who can benefit from each other’s skills and experiences. Facilitate introductions and encourage collaborations that can lead to new job opportunities and career advancements.

5 Simple Business Ideas That Create Millionaires

Many industries have the potential to generate substantial wealth but remain under appreciated by most people. Here are five simple business ventures in these lesser-known industries that can serve as a guide for budding entrepreneurs:

1. Mobile Diagnostic Services

Business Example: Mobile Health Diagnostics

• Overview: Offering mobile diagnostic services such as blood tests, X-rays, and other medical tests directly to patients' homes.

• Why It Surprises: Most people think of diagnostic services as being tied to hospitals or clinics. However, mobile diagnostics cater to the growing demand for convenience and accessibility, especially for the elderly and those with mobility issues.

• Potential: The healthcare industry is rapidly growing, and with the aging population, mobile services are in high demand, leading to lucrative opportunities.

2. Renewable Energy Installations

Business Example: GreenHome Solutions

• Overview: Providing installation services for solar panels, wind turbines, and other renewable energy systems for residential and commercial properties.

• Why It Surprises: While traditional energy sectors like oil and gas are well-known, the renewable energy sector is less visible but booming due to increasing environmental awareness and government incentives.

• Potential: As more people and businesses look to reduce their carbon footprints, the demand for renewable energy solutions will continue to rise.

3. Pharmaceutical Delivery Services

Business Example: PharmaDirect

• Overview: Offering home delivery services for prescription and over-the-counter medications.

• Why It Surprises: While the pharmaceutical industry is known for its profitability, the niche of home delivery services addresses the needs of patients who prefer or need medications delivered to their doorsteps.

• Potential: With the rise of telemedicine and the convenience economy, pharmaceutical delivery services are set to grow significantly.

4. Professional Organizing Services

Business Example: TidySpaces

• Overview: Providing professional organizing services for homes and offices, helping clients declutter and create more efficient, usable spaces.

• Why It Surprises: Most people overlook the potential of this service, thinking it’s a luxury. However, with the rise of minimalism and the popularity of organization gurus, this service is becoming increasingly sought after.

• Potential: As people continue to seek ways to simplify their lives and workspaces, the demand for professional organizing services is growing.

5. Aquaculture Farming

Business Example: FreshWater Farms

• Overview: Operating fish farms to raise species such as tilapia, salmon, or shrimp for commercial sale.

• Why It Surprises: Aquaculture is less visible than traditional agriculture but is one of the fastest-growing sectors in food production due to the increasing demand for seafood.

• Potential: With overfishing concerns and a growing population, sustainable aquaculture provides a promising business opportunity.

Bonus! Thought of the week

Would you take medical advice from a therapist? Would you take financial advice from a doctor?

Then why would you take entrepreneurial advice from some one who spent the better half of their life chasing full time employment, aka a job?

Asking the right question is not enough, asking the right person is where it should start.