If you don’t think we are entering a changing economy you are not paying attention. If you see this as a battle between capitalism and socialism you are to focused on the past. If you think that all that is necessary is maintaining a positive attitude you are indulging if foolish stuff. During the Great Depression some prospered. Those that prospered produced what clients were willing to expend resources to buy.

Alvin Toffler noted futurist and author of “The Third Wave “. Pointed out in “Powershift” that the ancients thought there were three sources of power or the ability to cause change; Muscle, mineral and mind. If Capitalism relies on controlling muscle and Socialism relies on controlling mineral riches, Entrepreneurism relies on controlling the mind. Entrepreneurism is the current wave of power and both Capitalism and Socialism are waves of the past.

If you want to profit from the current wave learn more about Entrepreneurism. Both Benjamin Franklin and Thomas Edison were leading entrepreneurs of their times. Franklin assisted in changing a country and Edison assisted in changing a world. Both were ordinary: flawed human beings who accomplished extraordinary things. You may also be an ordinary flawed human who can accomplish extraordinary things.

Many who own their own businesses will never be entrepreneurs. Many who are not self employed are entrepreneurs. The secret is not who employs you but how you serve clients. Ben Franklin was an apprentice when being an apprentice was a form of slavery. He chose to serve others even when his master chose to serve himself. Ben made the choice to be an entrepreneur even when his master did not.

Tom Edison was thrown out of school in the fourth grade; he became deaf at a young age; his first patent had no buyers. He did not allow his disabilities to handicap him. At a later age he was approached by Drs who told him that they new cures enabled them to cure his deafness. He refused because he thought of his deafness as his competitive advantage it had helped him invent some of his favorite inventions. None of his competitors would become deaf in order to compete more successfully. They would not have known how to use it anyway.

One of Edison’s favorite historic models was Benjamin Franklin and one of his favorite former employees was Henry Ford. Edison studied Franklin and mentored Ford. Edison was not able to convince Ford to produce electric autos. Ford was to caught up by the possibilities of the gasoline engine. Edison did sell Ford a lot of batteries and did invent an electric starter for Ford’s gasoline engines.

Franklin and Edison were not the only entrepreneurs in history but they may have left the most complete record. There are many biographies of both. Franklin was a prolific author and he wrote an autobiography. Edison has inspired many biographers both in books and movies. He also has left millions of pages of notes on his many experiments.

Which reminds me of a story; Edison was being interview by a reporter who asked how many failures Edison had before he found the right material to use as the element in the electric light bulb. Edison said that he had no failures. The reporter exclaimed unbelievingly “You mean the first thing you tried you found the right material to use as an element” . Edison said “I said that I had no failures; I tested over 3,000 things and found over 3,000 things that didn’t do what I wanted before I found one that did what I wanted”.

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