When Henry Ford came up with the Model T, it was a revolutionary product because it was an accessible and affordable product to thousands of people.
Prior to that, cars were the domain of the exclusive elite few.
Cars were expensive, took long to make and as a result could only be afforded by Kings, Queens, politicians and other elites.
Through mass production, standardased process, interchangeable parts and interchangeable people, Henry Ford and his team managed to produce too many cars at cheaper rates.
As a result, ordinary people could afford to buy a car.
It was not black because it is his favorite colour, it was black because black dried quicker.
If you are going to produce cars en-masse, the painting need to dry quicker.
Henry Ford democratized access to car.
Suddenly cars became affordable to thousands of ordinary folks.
Henry Ford’s ultimate goal was to achieve total self-sufficiency by owning, operating and coordinating all the resources needed to produce complete automobiles.
His Ford Motor Company once owned 700,000 acres of forest, iron mines and limestone quarries.
Ford mined covered thousands of acres of coal-rich land.
Ford even purchased and operated a rubber plantation in Brazil.
To bring all these materials to the Rouge, Ford operated a fleet of ore freighters and an entire regional railroad company.
Ford’s ambition was never completely realized, but no one has ever come so close on such a grand scale.
At no time, for example, did Ford have fewer than 6,000 suppliers serving the Rouge plant.
At some point Ford employed about 80,000 people.
As a result, as more cars were manufactured and bought:
- It meant more people were employed to meet the increased demand;
- It meant more need for petrol stations [a new industry, employing more people];
- It meant more mining of coal for make petrol [more jobs];
- It meant more roads needed to be made for more cars to drive on [more jobs in the road construction sector]
- It meant that we can trade with our next city because it was easier to move products between cities.
From one invention, an affordable car, new and more industries were created.
Innovation precedes development, not the other way round.
Innovation leads to development, not the other way round.
For us to end poverty, to create jobs and eliminate inequality we need more innovations, innovations that solve people’s problems and are affordable and accessible to them.
Poverty will be end through innovators and entrepreneurs, being supported by an enabling environment created by other stakeholders.
It starts with innovators and entrepreneurs.
As you enjoy your Sunday afternoon drive or a road-trip with your friends or family, remember that it was made possible by an innovator and an entrepreneur.