The following story expresses a key quality vital to all successful entrepreneurs, and since it concerns the auto industry, I felt it was a story that those with an entrepreneurial spirit should pay attention to. It concerns a patent pursued by a team of inventors kinown as the Goldberg Brothers..
The four brothers, Lowell, Norman, Hiram, and Max, invented and developed the first automobile air-conditioner. On July 17, 1946. The temperature in Detroit was 97 degrees.
The four brothers walked into old man Henry Ford’s office and sweet-talked his secretary into telling him that four gentlemen were there with the most exciting innovation in the auto industry since the electric starter.
Henry was curious and invited them into his office. They refused and instead asked that he come out to the parking lot to their car. They persuaded him to get into the car, which was about 130 degrees, turned on the air conditioner, and cooled the car off immediately.
The old man got very excited and invited them back to the office, where he offered them $3 million for the patent. The brothers refused, saying they would settle for $2 million, but they wanted the recognition by having a label, the “Goldberg Air-Conditioner,” on the dashboard of each car in which it was installed. . Now old man Ford was more than just a little proud of his trademark name, and there was no way he was going to put the Goldberg’s name on two million Fords. They haggled back and forth for about two hours, and finally agreed on $4 million and that just their first names would be shown.
And so to this day, all Ford air conditioners show Lo, Norm, Hi, and Max on the controls.
So, now you know…
Happy Holidays to all.
P.S. Don’t lose your sense of humor during these challenging times!
