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Edison on Innovation: 102 Lessons in Creativity for Business and Beyond
book

Edison on Innovation: 102 Lessons in Creativity for Business and Beyond

by Alan Axelrod
February 2008
Intermediate to advanced content levelIntermediate to advanced
192 pages
4h 1m
English
Jossey-Bass
Content preview from Edison on Innovation: 102 Lessons in Creativity for Business and Beyond

4.3. Lesson 27: Invest in Assets

Why does winning the lottery so often fail to make the winner happy? One reason is the failure to turn newfound riches into wealth. Lottery winners often rush out to buy things—cars, houses, furniture, vacations, and the like—that constitute expenses rather than assets, riches rather than wealth. When Edison sold a quadruplex telegraph system to the financier Jay Gould in 1875, he immediately invested the cash proceeds from the sale in books and scientific equipment for his laboratory. He plowed his profits back into his enterprise. It was an investment in assets—really, in his biggest asset: himself.

NOTE

Create wealth rather than riches by investing in assets, which will build your enterprise by enhancing your ...

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Publisher Resources

ISBN: 9780787994594Purchase book