Inventions and Saleable Ideas

By Levi C. Ezidiegwu and Chris Parkes

Wealth is like a flowing river, and idea is the tool that creates the economic gradient for the flow of wealth to your direction. What makes the difference in the rate at which this economic fluid flows to your direction is determined by how saleable your idea is. So, what makes an idea saleable?

• Language: English
• Publisher: BookBaby
• Release date: Jul 6, 2018
• ISBN: 9781543937787

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AUTHOR

Chapter One

(1) - IDEAS AS FOUNDATION FOR WEALTH CREATION

The flow of wealth can be likened to a natural spring flowing across a village. It does not care who drinks or fetch from it because everybody in the village should have access to it. How come some people construct pipelines from the stream to their houses, some fill their reservoirs both underground and overhead tanks, while there are some that go to the stream with small buckets only to fetch the one they need to use for the day. Worst still, there are some that go with just a cup, and drink to their satisfaction whenever they are thirsty.

It does not necessarily mean that those men that fill their reservoirs are greedy. This is what I term the wealth creation formula. Only the wise fills up his vessel bearing in mind that there could be a period when some unforeseen disturbances could disturb the free flow of this spring. The water you used yesterday can never return to you for re-usage. Whether you like it or not, there must be outflow and it is only your inflow that can maintain equilibrium in your finance. Outflow without a proportionate inflow will only lead to economic drain. The foolish and the uninformed in the village only drink whenever they need water without creating any storage, thinking that the flow will last forever.

Why the saying, The Rich get Richer and the Poor get Poorer? Research shows that 80% of the wealth of nations and cities is in the hands of 20% of the population, while the remaining 20% of the wealth of nations are shared among the 80% of the population. The poor labour for the rich. The poor bank for the rich. The money of the poor is given to the rich as loans because the poor do not have collateral to collect loans. Bulk of the consumables sold by companies are bought by the poor, but they are not shareholders. It is the vast consumption of the poor that makes up the share dividends of the rich.

As natural stream flows freely in life, so does wealth flow freely in this global village called earth and everybody has unlimited access to it. Nobody is a minor. So, why should some people live in the region of affluence and abundance while others languish in lack and poverty even in the midst of plenty? Ignorance to the principles of wealth creation through the implementation of saleable ideas, and lack of discipline to practice same remains the problem limiting us from living the life of our dreams.

Some believe that their success is tied by some evil forces. Like I said earlier, your money exists as an economic fluid in people’s pockets, cheque books and accounts and it is only when you sell out your idea that the wealth will flow from them to you. That is when you can confidently grow to be an entrepreneur because you have a saleable solution to a societal need. One man that understood this principle is Mike Krieger - a Brazilian entrepreneur and software engineer who co-founded Instagram along with Kevin Systrom by confessing, I think the biggest challenge over time is that we stay creative and making sure that we continue to launch awesome products that people love.

I want to define Wealth creation as the process of channelling the free flow of wealth along this global village called earth to your direction using dual tools of idea and financial wisdom. In order words, wealth creation is creating reservoirs for wealth using a tool called idea and ensuring minimal leakage by applying the concept of saving. Wealth creation is a vector quantity; it has both magnitude and direction. The direction is specified by idea which creates the economic gradient for the flow of wealth to your direction while its magnitude is specified by the strength of your reservoir which is the wealth creation concept of savings.

Wealth Creation Formula

Wealth Creation = IDEA (Direction) + SAVING (Magnitude)

Life is like Mathematics, a subject you don’t have to know, yet it gives you the correct answer provided you apply the right formula and procedure. I love the words of Eleanor Roosevelt, You gain strength, courage and confidence by every experience in which you really stop to look fear in the face. You are able to say to yourself, I lived through this horror. I can take the next thing that comes along. You must do the thing you think you cannot do. In creating wealth (getting rich), the equation is incomplete if you have only idea or investment without savings, or you have only savings without