Over the course of human history, there has been some great business ideas that have transformed the world as we know it. Knowing about the business innovations of the past can also teach lessons to today’s business men and women. Here is a list of the five most successful business ideas in history.
1. The Mass Produced Automobile
This list must start with none other than the machine pioneered by Henry Ford. While other forms of transportation like the boat or plane may have had significant impacts on history, none have changed the business world quite like the automobile has. After its introduction, it quickly became one of the most expensive purchases that nearly every family in the United States, and shortly the world, felt they must possess. It also eased the ability to travel for millions of people, which helped fuel a consumer revolution for the entire economy.
2. Fast Food
At one time, meals took hours to produce. They usually were done at home. If not, a person had to spend a significant amount of time at a restaurant. However, during the 1900’s, this changed forever. Influenced by quickly produced carnival food and entrepreneurs selling things like sandwiches to go, fast food quickly developed into a consumer behemoth. While everyone still enjoys a home cooked meal, the ability to purchase food quickly helped expedite the American way of life like never before.
3. The Personal Computer
In the past, computers were things only owned by the government. They were large bulky machines that took up huge rooms in government installations. As technology improved, computers became smaller. Soon, making your own computer became a hobby. Some industrious young men then took the next step and began selling completed personal computers to consumers. The world has never been the same and related innovations such as online commerce have literally transformed the world economy.
4. The Assembly Line
The history of industry can’t be mentioned without the inclusion of the assembly line. At one time, consumer products were made completely by hand and usually by one or two people at most. This process was incredibly cumbersome. However, with the invention of the assembly line, products as simple as toys or as complex as cars could be produced much faster and more efficiently. This was one of the innovations that fueled the industrial revolution.
5. The Credit Card
Lastly, any such list would not be complete without the credit card. The credit card helped popularize the idea of lending money for profit. While banks had been doing this for quite some time, nothing had ever been attempted on such a grand scale before the introduction of these small plastic cards. For better or worse, the credit card’s introduction changed how consumers spend and how lenders make money.
This is a guest post from Britney Baker who writes about auto insurance quotes over at Auto Insurance Comparison .org.