WEBVTT
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00:00:03.810If you are able to state a problem, then the problem can be solved.
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00:00:09.592Every creative act is a sudden cessation of stupidity.
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00:00:13.268Optimism is a moral duty.
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00:00:17.190The only thing that keeps us alive is our brilliance.
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00:00:20.250The only thing protecting our brilliance is our patents.
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00:00:30.271There's a rule that they don't teach you at Harvard Business School If anything is worth doing, it's worth doing to excess.
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00:00:38.493Do not undertake a program unless the goal is manifestly important and its achievement is nearly impossible.
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00:00:46.692If you are right, the facts at the moment don't matter, because in course the facts will catch up with you.
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00:00:55.793A worthwhile invention must be startling, unexpected and must come into a world that is not prepared for it.
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00:01:02.472What the physical sciences teach the social sciences is how to fail without a sense of guilt.
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00:01:05.807So those are some quotes.
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00:01:07.322Those are called Landisms.
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00:01:16.968I read the book A Triumph of Genius, Edwin Land, Polaroid and the Kodak Patent War, and I just went through and read what are called Landisms.
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00:01:21.867So Edwin Land had these sayings that he would say, and there's a whole list of it in this book.
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00:01:46.953I thought a lot of them were very poignant and I think we can learn a lot from Edwin Land, especially his focus, his ability to protect his intellectual property and his knack for creating something unique and bringing it into the world, and I thought this would be a good one to cover this book in studying Edwin Land.
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00:01:58.864Edwin Land was the hero of Steve Jobs and Steve Jobs, arguably, is one of the greatest entrepreneurs in the 20th, 21st century, so far at least.
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00:02:06.272So I thought it would be an interesting episode to dive into Edwin Land.
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00:02:08.395First of all, early life.
00:02:08.395 -->
00:02:13.927Edwin Land was born in 1909 in Connecticut.
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00:02:16.596He was deeply interested in science.
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00:02:24.588Here's a quote from the book Edwin Land, still a preteen, began to read about optical science and discover the textbook Physical Optics by Robert Wood.
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00:02:26.473Read about optical science and discover the textbook physical optics by Robert Wood.
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00:02:41.284A professor of physics at Johns Hopkins University who was well known as an experimenter of great ingenuity in the areas of optics, light, electricity and photography, lands slept with woods book under his pillow and read it nightly in the way that our forefathers read the Bible.
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00:02:44.831It was an intellectual awakening that would shape his life.
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00:02:56.943So again, we see, after reading all these books on these founders, we see that they're reading voraciously.
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00:03:11.688They're reading books about history, about great inventors, great business people, about great inventors, great business people and they're building that base of knowledge so that they can bring it to the next level.
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00:03:24.830So Edwin Land he's really interested in optics, light, electricity and photography and he ends up going to Harvard and he actually never ends up completing a degree.
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00:03:34.394He's basically distracted and obsessed with these topics that he's getting into here.
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00:03:36.765So let me read a quote from the book.
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00:03:42.192Land had learned early on that total engrossment was the best way for him to work.
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00:03:48.133He strongly believed that this kind of concentrated focus could also produce extraordinary results for others.
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00:04:01.816Late in his career Land recalled that his whole life was spent trying to teach people that intense concentration for hour after hour can bring out in people resources they didn't know they had.
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00:04:14.792So Land is super focused on what he has in front of him and we see this again and again with the inventions that we'll cover here in a second.
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00:04:45.704But I think this is one big lesson that we can really take is, especially for our businesses, right, we need to set aside time to dedicate to focusing on working on our business and not in our business, and those hours we need to protect in our schedule, Cause I know, especially for even for myself, I mean things are happening day to day and you feel you feel like you're getting, you're really busy and you're you're accomplishing things, but you're really working in your business.
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00:05:00.432You're doing those, all those little tasks that you could probably could outsource to other folks to help you out where you need to be focusing on working on your business and putting in that intense concentration on building your business.
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00:05:04.550So I think that's a big takeaway, a big lesson that we can learn from Land.
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00:05:05.800He was great at this.
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00:05:14.946Here's another quote from the book Suddenly, a separateness that comes during preoccupation with a particular scientific task.
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00:05:29.016There's a need, a transient need, a violent need for being just yourself, restating, recreating, talking your own terms about what you had learned from all the cultures, scientific and non-scientific, before you and around you.
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00:05:34.291You want to be almost alone, with just a few friends.
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00:05:36.107You want to be undisturbed.
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00:05:43.954You want to be free to think, not for an hour at a time or three hours at a time, but for two days or two weeks, if possible, without interruption.
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00:05:47.642You don't want to drive the family car or go to parties.
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00:05:53.663You wish people would go away and leave you alone while you get something straight.
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00:06:01.107Then you get it straight and you embody it and during that period of embodiment you have a feeling of almost divine guidance.
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00:06:11.901Then it is done and suddenly you are alone and you have to go back to your friends and the world around you and to all history to be refreshed, to feel alive and human once again.
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00:06:28.136It is interplay between all that is richly human and this special, concentrated, uninterrupted mental effort that seems to me to be the source not only of science, but also of everything that is worthwhile in life.
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00:06:31.550So he's all about focus, as you can tell.
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00:06:51.593He's basically saying you need to go away from the world, shut the world out for not just a couple hours, which he's saying days or weeks, a couple days, a couple weeks to dive into whatever you have on your plate and then come back to the world and become human again, basically.
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00:06:57.333So he really took it to the next level on focus.
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00:07:00.745So moving on.
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00:07:08.523So he starts off with his focus on polarized light filters and what that is.
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00:07:17.050Basically all sunglasses nowadays they're polarized, meaning like they take out the glare of any kind of light so you can see better.
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00:07:36.449And so he's the one that invented this, invented this, and he actually quit harvard to to focus on creating this polarized these polarizing lenses and he would break into actually columbia.
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00:07:43.488They had a science department that he'd break into and and use their equipment to actually make this.
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00:07:45.012Here's a quote from the book.
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00:07:54.552Years later Land admitted that many of his early experiments were conducted at Columbia clandestinely.
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00:08:01.670He and Terry would climb out a hallway window and then along a ledge on the outside of a building.
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00:08:06.089They would climb back into a physics laboratory window and then proceed to remove the hinges of a building.
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00:08:10.310They would climb back into a physics laboratory window and then proceed to remove the hinges from a locked cabinet to get at the necessary equipment.
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00:08:16.732So he was pretty determined to get what he needed.
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00:08:20.367And obviously he's a young kid at this time.
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00:08:22.507He dropped out of college.
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00:08:24.105He doesn't have a lot of money.
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00:08:29.752He actually goes to his father to borrow some money so he can do this business.
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00:08:37.913You know this experiments and try to operationalize what he's figuring out with polarizing light.
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00:08:42.951And his dad gives him a piece of advice that he really takes to heart.
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00:08:49.309At one point he says Land recalled his father warning him Watch out, Once you develop it, the big companies will take it away from you.
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00:08:53.791It was advice that Land took to heart and filed away for future use.
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00:08:56.164So Land is not only.
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00:08:59.131He's going to make several inventions.
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00:09:09.393I think he ends up doing like over getting over 500 patents, which is like the third most amount of patents that any person has ever had.
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00:09:16.801I think Thomas Edison is number one and Edwin Land is number three, so pretty impressive, Anyway.
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00:09:20.490So he really takes that piece of advice from his father to heart.
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00:09:23.168He gets so many patents.
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00:09:33.634Everything he does he documents very carefully and patents it, and this is going to become crucial for later on in the story when he creates the instant camera.
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00:09:41.640So moving on here, the instant camera here.
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00:09:42.041So moving on here.
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00:09:45.965So he creates these polarizing filters, and this is where he kind of shows his showmanship.
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00:09:58.876So he's very focused on like, basically a scientist and very focused on inventing, but at the same time he's he's very much a showman, and this is, I think, where Steve Jobs gets his showmanship.
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00:10:10.772If you remember Steve Jobs, he was all about presenting the new product, whether it was the iPad, the iPhone, the iPod, the latest iMac, whatever it was.
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00:10:29.394He was really good at kind of presenting it and launching a product, and I believe he got that showmanship from Edwin Land, Because Edwin Land does this several times throughout his career, where he will come up with a creative way to present his product.
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00:11:20.552And so for his polarizing lenses he wants to basically sell them as sunglasses, and so he's, he's pitching that for to, uh, some, some business people, and he basically gets a hotel room that's faced towards the sun, has a, and so it's the hotel room is facing the sun, and he gets like this big goldfish bowl that he sets on the windowsill, and so the light's coming in through the hotel window and into the bowl where the goldfish is, and so he invites the business people in there and he's like, sorry about the glare, you probably can't see the fish that's in this goldfish bowl.
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00:11:29.085And so then he puts like the filter in front of the goldfish bowl and that makes it super clear and it gets rid of the glare so you can see the goldfish.
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00:11:52.379So he basically wanted to come up with a way to instantly show the power of his invention, and so that was like the first kind of big showmanship that he demonstrated with the polarizing lenses, and he ends up also pursuing polarized headlights.
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00:12:09.636So he goes to like the auto manufacturers and he tries for years and years to get them to use these polarized headlights, which would get rid of glare and probably a lot of accidents.
00:12:09.636 -->
00:12:16.373But he tries for two decades and fails on that front.
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00:12:20.345So let me read that quote After more than two decades, Land reluctantly gave up the fight.
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00:12:28.674But he learned one very important lesson I knew that I would never go into a commercial field that put a barrier between us and the customer.
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00:12:39.870Rather than deal with other companies as intermediaries, he would market his innovative products directly to the public.
00:12:39.870 -->
00:12:45.450He believed that the role of industry is to sense a deep human need, then bring science and technology to bear on fulfilling that need.
00:12:45.450 -->
00:12:48.990Any market already existing is inherently boring and dull.
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00:12:57.371Land, like Steve Jobs many decades later, believed that his company should give people products they do not even know they want.
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00:12:59.806So this is a big shift.
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00:13:13.707You know, he's initially trying to sell to other businesses these ideas or these inventions and after a lot of friction there he decides okay, I'm just going to go straight to customers and show them.
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00:13:16.393You know what they're going to want.
00:13:16.393 -->
00:13:23.446And Edwin Land didn't believe in market research Same thing I think Steve Jobs got this from him.
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00:13:27.450He literally almost quotes Land on this topic.
00:13:27.450 -->
00:13:32.551But Edwin Land didn't believe in trying to figure out what do customers want.
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00:13:44.296He just thought that you should create something that was so unique and so amazing and just create an industry out of that.
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00:13:57.989So, continuing on here, we are in the mid-1930s, at this point where he's doing the Polaroid lenses, and then we get into World War II.
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00:14:01.863And this is so.
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00:14:24.235At this point Edwin Land has the company Polaroid that he's using and he's creating these lenses and they're making money and he kind of foresees that World War II is going to pull into the United States and he wants to dedicate Polaroid's resources to help the war effort.
00:14:24.235 -->
00:14:27.587So let me read a quote here.
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00:14:31.270Roosevelt hoped to keep America out of another European war.
00:14:31.270 -->
00:14:35.390Japan's attack on Pearl Harbor extinguished that hope just a year later.
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00:14:40.065Land, however, was certain from the start that American involvement was inevitable.
00:14:40.065 -->
00:14:53.211William McCune, who had attended that Christmas meeting, recalled that Land told his employees that he believed the war going on in Europe was of much greater significance to the United States than most people felt.
00:14:53.211 -->
00:14:56.783Land predicted that the United States would be in the war within the next year.
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00:15:01.412As a result, he had decided to make a big change in Polaroid's focus.
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00:15:07.349From that moment on the company would devote itself to one sole purpose to win this war.
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00:15:18.206In his talk with Polaroid employees and in future comments, Land made it clear that he was not motivated by the chance to profit from the war effort.
00:15:18.206 -->
00:15:21.509In fact he said that he didn't expect to make much.
00:15:21.509 -->
00:15:31.751His motivation instead was to combat the disease that is spreading over the world, one that goes on for generations and does not stop when war stops.
00:15:31.751 -->
00:15:34.087So Edwin Land focuses on the war effort.
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00:15:40.231They create all these different goggles for the military to help in the war effort.
00:15:40.231 -->
00:15:46.852There's another quote Polaroid produced millions of what Land probably called the best damn goggles in the world.
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00:15:57.538None other than General George S Patton appeared on the cover of Newsweek outfitted in a pair outfitted in a pair.
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00:16:03.932So Polaroid gets millions of dollars developing these goggles and other inventions during the war.
00:16:04.700 -->
00:16:10.212Now, obviously, the war ends in the mid-1940s.
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00:16:22.062Now Edwin Land knew that the war was going to end, obviously, and he was worried that once the war ended their revenues were going to dry up really quickly.
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00:16:36.655So he was looking for an invention that he could sell directly to customers, Because once again, he didn't want to sell to other businesses, because he didn't like how that went as we talked about.
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00:16:47.432He wanted to sell directly to customers and he was trying to figure out what his next thing was going to be, and he felt it was time was of the essence, because they only had a few years to figure this out.
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00:16:50.024So let me go back to the book here.
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00:16:58.591But the year was 1943 and the high-tech camera was a Rolleiflex box model filled with Kodak roll film.
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00:17:05.171His daughter was disappointed when she learned that it would be weeks before she would be able to see the pictures her father had taken.
00:17:05.171 -->
00:17:07.526Why can't I see these pictures right now?
00:17:07.526 -->
00:17:08.710I don't want to wait.
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00:17:19.201In those days the film would have to be unloaded from the camera, taken to the pharmacy and shipped off to the laboratory to be developed into negatives.
00:17:19.201 -->
00:17:25.904That process would involve a series of baths of various chemicals, all done in a dark room at controlled temperatures.
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00:17:40.535Once dry, each negative would then have a precise amount of light projected through it, the image being focused onto photographic paper held at just the right distance so that the image was sharp.
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00:17:51.516That paper, or positive, would then next be developed to bring out the image, washed and then processed further to stabilize the print.
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00:17:59.674Finally, after drying, it could be shipped back for the little girl to see, long after the enchantment of the moment had faded away.
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00:18:14.669When confronted with an upset child asking silly questions seemingly impossible to answer, most fathers would respond with a comforting, if exasperated, because or that's just the way it is, or I don't know is or I don't know.
00:18:14.669 -->
00:18:26.123But not this father, as a colleague acknowledged many years later, this man never had an ordinary reaction to anything.
00:18:26.123 -->
00:18:34.309Instead of dismissively laughing off his daughter's frustration, he shared it, he embraced it and, on the spot at that moment, he committed himself intellectually to solving his daughter's dilemma.
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00:18:44.131He would figure out a way to create a photographic system, a revolutionary camera and film combination that would allow images to be viewed immediately after being taken.
00:18:44.131 -->
00:18:46.488He would invent one-step photography.
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00:18:51.551So this is in 1943.
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00:18:53.508He gets this idea from his daughter.
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00:18:55.227She's like I want to see the pictures now.
00:18:55.227 -->
00:18:58.404He's like, okay, that's a great point, I'm going to figure this out.
00:18:58.404 -->
00:19:08.736And he's just obsessed with trying to figure out this one-step photography and he has kind of a rough idea of how this would work.
00:19:08.736 -->
00:19:12.212He doesn't fully.
00:19:12.212 -->
00:19:14.632So they ended up.
00:19:14.632 -->
00:19:21.653He wants it to be color initially, but they're not able to do it in color.
00:19:21.653 -->
00:19:28.050They initially do it in black and white, and there's some other things that he wanted that they weren't quite able to do.
00:19:28.050 -->
00:19:32.773He wanted the size of the camera to be able to fit in the pocket.
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00:19:43.805They don't get that initially, but they do get a an instant photo camera, and that is in black and black and white by 1948.
00:19:44.926 -->
00:19:55.137And so they really had to push to get this done, because they only had a few years and and they had plummeting revenue because the war ends, World War II ends in 1945.
00:19:55.137 -->
00:20:00.176Their revenue decreases by 88%, which is crazy.
00:20:00.176 -->
00:20:05.924I mean, just like, imagine your company's revenue is decreased by almost 90%.
00:20:05.924 -->
00:20:10.348That would be very catastrophic, by almost 90%.
00:20:10.348 -->
00:20:11.009That would be very catastrophic.
00:20:11.009 -->
00:20:25.061So their revenue is just plummeting after the war and they're just racing against time to get out this camera, this black-and-white instant camera, and so he's really pushing his team.
00:20:25.061 -->
00:20:38.617He even announces the technology early to push his team further and they get out this one-step camera in black and white and it has huge success.
00:20:38.617 -->
00:20:59.334They have a lot of trouble actually meeting the demand of it because they were kind of really hurting on cash because the war was over, they didn't have a lot of revenues and so they were only able to make a certain amount of cameras at a time, but the demand way out weighed how much they could actually supply.
00:20:59.334 -->
00:21:04.140So that first instant camera is a success.
00:21:04.140 -->
00:21:15.656But Land he wanted to improve it because he wanted it to actually be color, like a color picture, and he wanted it to be smaller, fit in the pocket of somebody.
00:21:15.656 -->
00:21:57.537And so he continues working on that innovation through the 50s and into the early 60s, developing that vision that he had, and all along this time he's having his team document and getting patents on every part of what they're doing, and this is going to turn out to be critical because this is really going to protect their, their industry, because they created this industry with these inventions and at the time kodak is like the huge, they're the Godzilla, like they're the giant in the industry, and Polaroid is like this little company that created this one thing.
00:21:57.537 -->
00:22:12.420But Kodak has a huge, almost monopoly on the industry and so, in order to protect themselves, they're doing a great job of documenting all these inventions with these patents.
00:22:12.924 -->
00:22:14.732So I'm going to read a quote from the book here.
00:22:14.732 -->
00:22:23.200Polaroid, led by the charismatic and enigmatic land, had become the Apple computer of the mid-20th century.
00:22:23.200 -->
00:22:29.025It was arguably the most admired and glamorous technology company in the world.
00:22:29.025 -->
00:22:34.373A loyal fan base of customers and investors eagerly anticipated its new products.
00:22:34.373 -->
00:22:45.895Six years earlier, Land had made a daring gamble of committing more than half a billion dollars of Polaroid Laboratory Research Funds to pursue his ultimate instant photography system.
00:22:45.895 -->
00:22:52.557He did so without having done a single dollar's worth of market research to determine whether people would actually buy the product.
00:22:52.557 -->
00:23:03.674This leap of faith would later be characterized as the biggest gamble ever made on a consumer product, Articulating a philosophy that would later become the mantra of Apple's Steve Jobs.
00:23:03.674 -->
00:23:06.506Land proclaimed we don't do market surveys.
00:23:06.506 -->
00:23:09.188We create the markets with our products.
00:23:09.188 -->
00:23:11.269And here's another quote.
00:23:11.609 -->
00:23:14.252There's no doubt that these Kodak engineers were amazed.
00:23:14.252 -->
00:23:17.454Okay, before I read this, actually you know so.
00:23:17.454 -->
00:23:24.981In the early 60s they finally released the color version.
00:23:24.981 -->
00:23:31.685It's the SX70.
00:23:31.685 -->
00:23:32.527That's what they called it, the SX-70.
00:23:32.527 -->
00:23:34.811It's the color version instant camera where it fits in your pocket.
00:23:34.811 -->
00:23:40.608Pull it out, push the button, take a picture and then a photo comes out.
00:23:40.608 -->
00:23:44.474And so this is amazing at the time.
00:23:44.474 -->
00:23:47.720And so here's a quote from the book.
00:23:47.720 -->
00:23:51.929There's no doubt that these kodak engineers were amazed and disturbed by what they had witnessed.
00:23:52.609 -->
00:23:57.928Land demonstrated at the two events, and these two events again land.
00:23:57.928 -->
00:24:00.031When he's showing these off.
00:24:00.031 -->
00:24:07.513He's creating like a huge event and doing this launch and just amazing everybody with his his show.
00:24:07.513 -->
00:24:23.031So Lane demonstrates at these two events a sleek metallic rectangle that unfolded into a triangle-shaped camera that, with a push of a button, snapped the shutter and then ejected the film unit from the camera with the help of a small motor.
00:24:23.031 -->
00:24:26.957The film unit was square and thin and intact from start to finish.
00:24:26.957 -->
00:24:30.192No components were removed by the camera or by the user.
00:24:30.192 -->
00:24:38.244It was an elegant system of camera and film that the Kodak engineers ultimately dubbed a masterpiece of engineering.
00:24:38.807 -->
00:24:46.516It was readily apparent to all that Polaroid's system was far superior to the product Kodak had in development at the time.
00:24:46.516 -->
00:24:49.337Polaroid is just light years away from anybody competing to include Kodak had in development at the time.
00:24:49.337 -->
00:24:52.128Polaroid is just light years away from anybody competing to include Kodak.
00:24:52.128 -->
00:25:32.366Kodak, you know, was trying to come up with their own system, which it wasn't really their own system, because they ended up basically copying Polaroid's patents and this this turns into a patent war that goes on for over 10 years, and because Kodak ends up launching their own instant camera and then Polaroid ends up suing them because they were using the same technology that Polaroid had developed and they ended up winning and Kodak ends up having to pay Polaroid $1 billion and this was back in the 80s, so a billion dollars.
00:25:32.366 -->
00:25:38.239Then, you know, it's like I don't know multiple billions now.
00:25:38.239 -->
00:25:45.325And this was really critical for Polaroid to win because they had a pretty singular focus on instant photography.
00:25:45.325 -->
00:25:48.093Like they didn't have other things going on.
00:25:48.093 -->
00:26:01.086They did in the beginning, they were doing the Polaroid lenses and that stuff, but once they switched over to instant photography, that was pretty much their focus and they didn't have any other kind of revenue sources.
00:26:01.086 -->
00:26:11.676So if they were, if they had not protected their patents or one, if they hadn't patented anything and then they didn't successfully protect their patents, they would have been destroyed.
00:26:12.404 -->
00:26:28.493Now, at this time, going into the 80s, you know Edwin Land is old, he's in his 70s, so he ends up stepping down as the CEO and having his team take over from there the CEO and having his team take over from there.
00:26:28.493 -->
00:26:41.268But Polaroid ends up wanting to starting to diversify and Land is really against that idea, and so he I'm going to read a quote from the book here.
00:26:41.268 -->
00:26:55.548In 1981, it had almost been a year since he had stepped down as Polaroid's chief executive, Bill McCune had reorganized top management by appointing four senior vice presidents to oversee the diversification of Polaroid's activities beyond instant photography for the amateur market.
00:26:55.548 -->
00:26:58.414This strategic move did not make Land happy.
00:26:58.414 -->
00:27:00.885It was one that he had long opposed.
00:27:00.885 -->
00:27:08.665At one shareholders meeting, he had vehemently insisted that the company had no plans to diversify.
00:27:08.665 -->
00:27:20.901It would be madness, he said, Now that we are on the 90th yard line with the other guys 30 yards behind, to make an end run around nothing.
00:27:28.684 -->
00:27:36.616Now, out of sheer frustration, he took the unusual for him step of inviting a journalist from business week to cambridge office for a series of interviews, taping the conversations himself to ensure that he would be quoted accurately.
00:27:36.616 -->
00:27:41.314Land paced his office floor as he sought to put his position on the record.
00:27:41.314 -->
00:27:50.858Land central message was to make it clear that he does not intend to allow anyone at Polaroid to devote too much of his resources to diversification.
00:27:50.858 -->
00:27:54.494Read the published account of the session.
00:27:54.494 -->
00:28:11.648While he conceded his successor's right to pursue new opportunities, Land wanted to make sure that they did not lose sight of what they believed to be the company's primary mission to make instant photography the photographic system of the masses mission to make instant photography the photographic system of the masses.
00:28:11.648 -->
00:28:45.144They are not entitled to any neglect whatsoever of making the most out of the great initial opportunity, and I honestly believe that the basic amateur field is in its infancy and not in its maturity said Land, Pledging to put his still considerable weight and ultimate power at Polaroid behind his views, citing his ownership of 12.5% of the company, his total knowledge of the terminology of the company and even a veiled threat to terminate his contract with Polaroid so as to enable him to contribute his technological prowess to another company.
00:28:45.144 -->
00:28:55.066The message Land delivered, as reported in Businessweek, was that he threatens to derail the diversification plan if the company's new managers stray too far from his original vision.
00:28:55.066 -->
00:29:11.960So, bottom line, Land believed in picking one thing you're good at and doing that one thing, and unfortunately, or as we see again and again, you know, Polaroid ends up getting overtook by digital instant photography.
00:29:11.960 -->
00:29:34.538Now, if they would have stayed focused, maybe they would have been able to stay competitive, but I think it was Sony that ended up coming up with digital instant photography and Polaroid ended up just copying them and they ended up losing copying them and they ended up losing market share and stopped being a leader in this area.
00:29:34.640 -->
00:29:41.253So I think the main things that we can learn from Edwin Land is number one is focus, intense focus.
00:29:41.253 -->
00:29:45.428And this, I think, is on a micro level and a macro level.
00:29:45.428 -->
00:30:06.186So intense focus on a micro level meaning you know, really taking your time and taking time out to work on your business or on that, that creative portion of your time to create new processes for your, your service, that you provide, working on your business in some way to improve it.
00:30:06.186 -->
00:30:08.516And, as I'm.
00:30:08.516 -->
00:30:14.872We read in the quote he's not just talking about like 30 minutes in the morning or an hour or two hours.
00:30:14.872 -->
00:30:21.549He's saying like days or weeks to set aside time to really focus.
00:30:21.549 -->
00:30:38.419And that was one of the things that he was really trying to encourage people to do, because he was such a believer in that Doing that will really unlock things for creativity in yourself.
00:30:38.419 -->
00:30:42.516So that's on the micro level, is focusing.
00:30:42.516 -->
00:30:48.116And then on the macro level, he believed you should focus on one thing in your business.
00:30:48.116 -->
00:30:55.750Do that one thing very well, Innovate on that one thing, Don't get distracted, Don't try to do a bunch of other stuff.
00:30:55.750 -->
00:30:57.154Focus on one thing.
00:30:59.026 -->
00:31:02.836So the next lesson, I think, is protecting your intellectual property.
00:31:02.836 -->
00:31:08.336So we've seen mistakes from other founders that didn't do this.
00:31:08.336 -->
00:31:13.375Most recently we read about Walt Disney, who didn't do this.
00:31:13.375 -->
00:31:19.875He didn't protect his intellectual property very well, and several other founders ran into this issue.
00:31:19.875 -->
00:31:24.424And so, for a painting business, I think this is your brand.
00:31:24.424 -->
00:31:28.175So making sure you're trademarking your brand name.
00:31:28.175 -->
00:31:59.078So making sure you're trademarking your brand name, you might have some, maybe something you did develop that is patentable potentially, but I think all painting businesses, you most certainly have a brand that you're using and in order to protect that, you would want to trademark that, because otherwise you could be in business for decades and then all of a sudden, someone comes and gives you a cease and desist letter that says, hey, you're using a brand name that is trademarked by somebody else and so you don't own that.
00:31:59.078 -->
00:32:05.429So that is one thing to definitely take a look at if you haven't done so already.
00:32:06.009 -->
00:32:08.451The next thing I think we learned is understanding customers' needs.
00:32:08.451 -->
00:32:15.820So Lan didn't believe in doing any kind of market research.
00:32:15.820 -->
00:32:35.211He just basically believed that you should start from first principles and evaluate what would I want or what's like kind of natural, what would we want to see ideally Like what's the ideal situation?
00:32:35.211 -->
00:32:53.553And with the Polaroid camera, the SX-70, you know, instead of having to wait weeks to get your photos, what if you just press a button and then it's, you have your picture right then and there, um, that would be an ideal situation.
00:32:53.553 -->
00:33:01.018So he started from that vision and then tried to back engineer how would we actually get that, make that happen?
00:33:01.766 -->
00:33:08.414And so I think we could take that same idea for business, Like what's, you know what's the ideal situation?
00:33:08.414 -->
00:33:18.165You know somebody wants their house painted and then you're there, you know that same day and you're painting their house and it's done by the end of the day.
00:33:18.165 -->
00:33:19.829Maybe that's the ideal situation.
00:33:19.829 -->
00:33:21.071Is that impossible?
00:33:21.071 -->
00:33:34.939You know it's probably not impossible, It'd be very difficult, but maybe that could be some sort of innovation you could start with, Like how can we get instant gratification of our painting process, you know?
00:33:34.939 -->
00:33:41.694So, just as an example, starting for starting with, like what is the ideal situation?
00:33:41.694 -->
00:33:45.267And kind of working backwards, how can we make that happen in our business?
00:33:45.267 -->
00:33:54.156So I think those are three lessons, but I do highly recommend the book, and studying Edwin Land Definitely learned a lot.
00:33:54.156 -->
00:33:55.938And with that, see you next week.