In 1930, a Hungarian inventor named Laszlo Jozsef Biro saw some children playing with balls in the water. He noticed that the balls left a trail of water as they rolled along the ground. He started thinking: Could one use a ball-shaped metal tip to write?
Biro took the idea to his brother Gyorgy, who was a chemist, and they worked together to create a new type of pen. They finally settled on the right design, which used a thin ink and a freely rotating ball that was easy to control and kept the ink from drying out.
They introduced their invention in 1931 and patented it in 1938. Then World War II erupted, and the two brothers emigrated to Argentina and founded a company in their garage.
In 1943, the pen was leased to a U.S. company for $2 million. Then, in 1950, a man named Marcel Bich bought the rights. He took the “h” off his name to found the BICGroup, leading to the ever-popular pens most of us now simply call Bic.
Another fellow sat watching a great swinging lamp as a form of meditation. Then Galileo hit on the idea of a pendulum swinging as a means of accurately measuring the passage of time.
Everyone benefits from sharing ideas with others. We become better individuals, better families and better businesses when we share ideas.
But remember, ideas have very little value on their own. Ideas without action are worthless. It is when determined people implement them that they become influential, whether in daily life or business.
Acting on ideas in business is crucial for several reasons:
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Innovation and competitive edge. Implementing new ideas can lead to innovative products, services or processes that set your business apart from competitors. This can attract new customers, retain existing ones and ultimately drive growth and profitability.
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Adaptability and resilience. Businesses that act on ideas are more adaptable to market changes and can quickly respond to new trends or disruptions, facilitating long-term sustainability and success in a rapidly changing business environment.
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Employee engagement and morale. Encouraging and acting on ideas from employees fosters a culture of inclusion and innovation. This boosts employee morale, engagement and retention as team members share in the company’s success.
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Customer satisfaction. Implementing ideas that improve customer experience can lead to higher satisfaction and loyalty. Satisfied customers are more likely to become repeat buyers and recommend your business to others, driving growth through word of mouth.
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Efficiency and cost savings. New ideas can streamline operations, reduce waste and improve efficiency, leading to significant cost savings and better resource allocation, enhancing overall business performance.
How can you effectively act on ideas?
Create an environment where employees feel comfortable sharing their ideas without fear of criticism. This opens a diverse pool of ideas that can be refined and implemented.
Develop a process for evaluating the feasibility, potential impact and alignment with business goals of each idea so that resources are allocated to the most promising ideas.
Create a clear plan for implementation and establish metrics to monitor success. This helps ensure that the idea is executed effectively and its impact is measured accurately.
Gather feedback and analyze the results of implemented ideas to learn what works and what doesn’t. This continuous improvement cycle helps refine future ideas and strategies.
Ideas are the lifeblood of business innovation and growth. Acting on them with purpose and strategy can transform your business and set you on a path to sustained success.
Mackay’s Moral: Don’t just entertain new ideas. Put them to work.
Harvey Mackay is the author of the New York Times bestseller “Swim With the Sharks Without Being Eaten Alive.” He can be reached through his website, www.harveymackay.com.
