David Schmidt of Lifewave talks about the importance of inventors

You don’t have to travel far on the internet to find someone praising the visionary work of some of today’s leading business minds. Often, this praise is heaped on business leaders who are orchestrating large-scale mergers or taking an existing business idea and repurposing it as their own. I don’t deny that this type of incremental advancement is a way to achieve a measure of success in business. However, I think that by making it our focus, we neglect the importance of another key business practice — invention. Since it’s played such an important role in my professional success, I figured I’d take some time to talk about why inventors are still the lifeblood of modern business.

Importance of Imagination

To do that, we require imagination. I like to define imagination as the ability to think of something that doesn’t yet exist. This trait is critical for advancement in business. It allows us to create entirely new products and services, and it also allows us to reimagine a purpose for an existing product or service. This is what business is largely about — imagining solutions. And the creation of those solutions through imagination is largely the purview of a specific type of person — an inventor.

Harnessing Creativity

This process is what I consider to be the meat and potatoes of inventing. In practice, it typically involves prototyping. Prototyping, which is essentially the process of bringing an idea to life, is critical to innovation, and it’s what sets apart the inventors from the daydreamers. I’ve met with my fair share of frustrations during the prototyping process, as well as my share of successes. I’m familiar enough with the process of invention at this point that I truly applaud the work of any inventor willing to get down in the mud and wrangle an idea into existence. It’s not easy work. But it sure can be fun!

How Inventors Move Business

This concept is underscored by whom we hold as some of the most esteemed businesspeople in modern history. The pantheon of modern business greats is populated by individuals who have innovated a new idea for a product or service and have doggedly pursued it. These business minds have been responsible for some of the biggest shifts in how we interact with each other and the world around us. Hewlett, Packard, Gates, Jobs, Bezos, Musk, Sikorsky, Wright Brothers, Ford, Edison, Bell… the list is long!

LifeWave and Beyond

I don’t say that to brag. Rather, I use it as a piece of data to underscore my main point: Business can be complex, and it’s not always obvious where the real innovation in any field takes place. Allow me to posit that a good deal of this work can be traced to the efforts of inventors and their abilities to tirelessly solve problems in new and innovative ways. That’s why inventors still matter greatly.

David Schmidt is the CEO of LifeWave, a leading health and wellness company he founded in 2002. More about David Schmidt at https://davidschmidtlifewave.com/