We had an interesting speaker at my local inventors group meeting last night. The guy told the story of his business life, which started when he was inspected and rejected by the Vietnam War draft due to some minor fault (he looked perfectly healthy to me). Being as he was free from Uncle Sam, he and a friend decided to travel to S. America in the early 70's.
While he was down there, the first oil shock hit and he recounted the story of reading about it and deciding to go back to the states and sell solar panels...which he did. After selling and installing solar panels for a year, he made an observation:
" Solar panels in New England save a household approx. 5 million BTU per year, the same amount that can be saved by using $10 water saving shower heads in the bathrooms!".
So, as he related it, he quickly stopped selling solar and started designing and manufacturing his own line of water saving and conservation devices. He worked as a waiter at night, went out partying after, and then came home and assembled and sold showerheads (while still in his underpants as he relates it).
Well, long story short, next thing you know he was prime supplier to Home Depot, Wal-Mart, Lowes, Target and others. He ended up with dozens of patents and made his items 100% in the USA - in fact, in Stamford, Ct. He sold out to Masco (Delta Faucet) 4 years ago for MANY million dollars.
Anyway, I thought it was an interesting story of thinking outside the box and good old American entepreneurship....and, it has me thinking real hard about those solar DHW panels. Maybe it's better that I turn the water temp down first!
Score one win for those who say Market forces win! 99% of the solar manufacturers went our of biz while this guy sold millions of his product. As he said, when it comes down to a choice between a $10 item and a $3,000 one, the $10 will win every time!
While he was down there, the first oil shock hit and he recounted the story of reading about it and deciding to go back to the states and sell solar panels...which he did. After selling and installing solar panels for a year, he made an observation:
" Solar panels in New England save a household approx. 5 million BTU per year, the same amount that can be saved by using $10 water saving shower heads in the bathrooms!".
So, as he related it, he quickly stopped selling solar and started designing and manufacturing his own line of water saving and conservation devices. He worked as a waiter at night, went out partying after, and then came home and assembled and sold showerheads (while still in his underpants as he relates it).
Well, long story short, next thing you know he was prime supplier to Home Depot, Wal-Mart, Lowes, Target and others. He ended up with dozens of patents and made his items 100% in the USA - in fact, in Stamford, Ct. He sold out to Masco (Delta Faucet) 4 years ago for MANY million dollars.
Anyway, I thought it was an interesting story of thinking outside the box and good old American entepreneurship....and, it has me thinking real hard about those solar DHW panels. Maybe it's better that I turn the water temp down first!
Score one win for those who say Market forces win! 99% of the solar manufacturers went our of biz while this guy sold millions of his product. As he said, when it comes down to a choice between a $10 item and a $3,000 one, the $10 will win every time!