In the 19th century, Werner von Siemens discovered the dynamo-electric principle. With these and other accomplishments, he is considered a pioneer of modern electrical engineering. In 1847, he founded Telegraphen Bau-Anstalt von Siemens & Halske in Berlin, from which emerged today’s Siemens AG, one of the world’s largest electrical and technology corporations. Werner von Siemens was most likely both a go-getting businessman and an inventive spirit. He is a prime example of how a good idea and a clever business concept usually go hand in hand.
An idea is only as successful as its business concept
What’s more, for an idea to succeed at all, entrepreneurial flair is usually indispensable. In many cases, the latter may even be the greater challenge. A flash of inspiration is sometimes all it takes to get an idea, but a business concept is far more involved. Markets have to be tapped, the competition observed, distribution channels set up, and much more. Many entrepreneurs will devote their lives to this task. Werner von Siemens would certainly have confirmed that.
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