Would you like to take stake in the Trillion Dollar Industry?

We are now at the beginning of the next trillion dollar industry—an industry that will impact almost every aspect of our lives and achieve $1 trillion in sales in just five more years, but one that is as unknown today as the automobile industry was in 1908 or the personal computer industry was in 1981.

As an entrepreneur, going into a well-established industry means working harder and putting in a lot more hours to beat the competition—with a smaller chance of great success.
 But when you go into a new or emerging industry, you get to work smarter instead of harder, and you can be the one distributing that new product that is suddenly in such demand because it improves so many people’s lives.

“The greatest fortunes to be made in the years ahead will not be made in what people were doing 5, 10 or 15 years ago. They will be made in industries that most people today don’t even realize exist, or do not yet think of as “industries.”

To get some perspective on where the most accessible fortunes lie in the new economy, let’s look back at two historical examples of surprising new industries—the automobile and the personal computer—and then look ahead at two new industries that are just now on the rise: direct selling or “one-to-one marketing” and wellness.
 

A tell of two industries
When Henry Ford set out to create the “affordable automobile” in 1908, it seemed absolutely ludicrous to most people. Where would you drive them? (There were hardly any paved roads.) How would you maintain them? (There were no such things as gas stations.) Who would have time? (Most people worked six days a week.) And who needed them? (Most people lived near where they worked.)
Automobiles were luxury toys for the rich. A car for the masses? What a ridiculous idea—what would they do with them?

Yet within a few generations, the nation sprouted a highway system, and the automobile had become one of the greatest industrial, technological and sociological forces of the twentieth century. From entertainment to industry, dating to demographics, there is not an aspect of human life that was not radically transformed over the last century by the automobile.

 The automobile wasn’t just a product—it was a trillion-dollar industry.

In the 1970s, the very idea of a “personal computer” was hilarious—the ultimate oxymoron! How could a computer be personal? For one thing, it cost millions of dollars. For another thing, computers in those days filled an entire room. And besides…what the heck would you do with it?
 

Twenty years ago, when Bill Gates and Michael Dell set out to create their own businesses (respectively, Microsoft and Dell Computers), they were both heading in a direction as unlikely as Henry Ford was in the 1900s: They were working in an industry that didn’t yet exist, based on a product that by definition was as ridiculous as Henry Ford’s “affordable automobile.” A decade later, they had become two of the richest men in the world.
 

The first IBM Personal Computer (PC) came out in 1981. By 1990, PC sales exceeded automobile sales, and by the turn of the century, personal computers had become a trillion-dollar industry. One trillion!

Articles by Paul Zane Pilzer, a world-renowned economist, a highly successful social entrepreneur, an adjunct professor, and the author of nine best-selling books and dozens of scholarly publications.






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