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•8 The 100 Greatest Business Ideas of All Time

However long it takes, the problems and frustrations involved in selling prod-

ucts often seem anathema to the scientist or inventor who had the idea in the first

place. At least in one part of his life, Thomas Edison decided that the problems of

manufacturing were not at all to his taste, and he left the company premises at

Newark to concentrate on the research and development side of the business, which

he much preferred.

In 1876 Edison used the profits of his last invention, the stock ticker,

However long it to build an ‘invention factory’ out in the country in Menlo Park some 25

takes, the miles from New York City. This was the first time such a laboratory had

problems and been built to pursue not academic research, but practical and commercial

frustrations inventions.

involved in The building itself was on two floors, with the factory itself above the

selling products floor that contained a library, a chemical laboratory and the necessary

often seem office space. Over time the site expanded enormously.

anathema to The expenditure on equipment was lavish. Edison supplied the best

the scientist or and latest in instruments such as microscopes and machines for measur-

inventor who ing light and electricity. He also installed his own electrical power genera-

had the idea in tors driven by a huge steam engine. In fact the factory held all the latest in

the first place. electrical devices. Edison remained a businessman as well as an inventor

and set challenging performance measures. He is said to have told a friend

that he expected the factory to come up with a minor invention every ten days, and

a ‘big thing’ every six months.

He made his own contribution, of course, roughing out sketches and draughting

ideas. The only person apart from Edison himself who had a share in the profits of

the business was his chief draughtsman, Charles Batchelor. The rest of the staff

were paid by the hour.

Incidentally, Thomas Edison in some ways behaved like the eccentric genius

characterised in cartoons by the mad professor with long wild hair. He was able to

catnap and be quickly refreshed, or sleep for periods as long as 36 hours. Prior to

the long sleep he could work more than once round the clock.