The Value of a Good Idea Compounds Over Time - Ode to a Brick
By 1954, a Denmark-based toy manufacturer called "The LEGO Company" had established a reputation for making high quality wooden toys. Some five years earlier they had introduced a plastic toy called “the automatic binding brick.” It met a poor reception that spawned prophesies of failure in the industry press. LEGO made good wooden toys; this brick just was not happening.
Then, something funny happened. A junior managing director of the company, Godtfred Kirk Christiansen, had an idea. He had just spoken with a toy store buyer who lamented the fact that certain things were missing from toys of the day. Toys didn't work together - there was no way for toys to interact with other toys. Toys did not provide a system of play.
Kirk Christiansen's The idea greaw into a new vision for LEGO products. Initially it was outlined in broad terms, without a specific product in mind. Then, the entire LEGO product line - some 200 different toys - were scoured to see which had the best chance of measuring up to the That vision was summarized, according to LEGO, like this:
- Unlimited play potential
- For girls and boys
- Fun for every age
- Year-round play
- Healthful, quiet play
- Long hours of play
- Development/ imagination/ creativity
- The more toys, the greater their value
- Extra sets available
- Quality in every detail
LEGO found one product with a real chance to live up to the vision. The time of the automatic binding brick - a failure according to some - had finally come.
The brick was refined. The company developed a precision mass production system around it. The idea spread and grew.
As of this writing, 5 billion hours per year are spent playing with LEGO bricks. The brick has twice won the award of "Toy of the Century." LEGO based video games are big sellers on systems like the Wii. The bricks are featured in YouTube stop motion video remakes of Star Wars. There are new character lines, and entire movies in an world of LEGO There is LEGOland.
The LEGO brick may be the most widely known - and loved - toy in the world. It is certainly the backbone of one the largest toy companies in the world. The "binding brick" has become synonymous with the company itself. I say "LEGO", you see a picture of the brick in your minds eye.
It's another example of the idea put forth in so many other disciplines and arts: that any given idea grow in value over time; that a good idea is worthy of refinement and development. This doesn't mean EVERY idea is a good idea. It does mean that even simple ideas can have their value compound the way interest compounds on an investment.
When the time is right, those ideas can offer tremendous returns. Just think about that little brick.
