If you follow the world of business, you may have noticed the prominent role that innovators have played in the global economy in recent history. Visionary thinkers, especially in the technology industry, have had an outsized impact on the way we communicate, interact with data, and solve everyday problems. It seems that a predilection for innovation is a key part of finding success in the modern world.
This concept rings so true that it bears further examination, so we turned to the work of David Schmidt, CEO of LifeWave, for an example of the process in action.
Early Inspiration
When you look at the careers of some of the world’s most successful individuals, it’s common to find an early event that inspired them to embark on a lifelong journey of achievement. Often, this event was an early encounter with another successful person or, at the very least, early exposure to the work of a historical figure known for their success.
The example set by other achievers can show not only the possibilities that come from dedicating oneself to a task but also the value in tapping into one’s own ability to innovate and create something new that can then provide value to the world.
Such was the experience of David Schmidt, who has singled out his childhood visit to the Thomas Edison Museum as a formative event in his life. For the CEO, who would later become known for his many inventions, the example set by Edison was enthralling.
Popularly known as the inventor of the modern light bulb, Edison was a tireless creator who dreamt up some of the world’s most recognizable innovations. These include the phonograph, the alkaline storage battery, and the kinetograph – one of the first functioning movie cameras. Ultimately, Edison obtained 1,093 patents and was credited with pioneering many aspects of the modern research and development process.
Work in Innovation
That admiration for Edison and his work led the LifeWave CEO to embark on his own journey of exploration and innovation. After graduating from university, he started a long career in the field of business and product development that led him to make a name for himself as an original thinker and problem solver.
During the early years of his career, he created new processes for synthesizing oxygen and hydrogen, designed a bladeless turbine generator, and worked on a prototype for a combustion rocket engine. His innovations during this stage of his career were numerous and influential enough that they helped earn him an honorary doctorate from the International Hall of Fame of Inventors.
Eventually, the inventor’s work caught the eye of the U.S. Navy, which offered him an opportunity to work on an aspect of the branch’s newest generation of miniature submarines. The focus of his work was on helping the organization figure out a way to keep its service members alert and energetic during shifts that could sometimes be lengthy and grueling. The goal was to achieve that result without turning to drugs, which had potentially harmful side effects.
The work began a lifelong interest for the inventor in improving people’s relationship to health and wellness through technology.
Formation of LifeWave
This focus ultimately brought him to an exploration of phototherapy technologies. Phototherapy, the use of light to achieve therapeutic effects, has been around for thousands of years and was considered one of the primary methods of achieving lasting healing by some of the world’s most advanced ancient societies – such as the Egyptians and Greeks. These civilizations created entire cities, replete with large buildings and temples dedicated to healing, to harness the restorative powers of light for those who had fallen ill.
The inventor’s exploration into phototherapy eventually led him to a profound realization. By reflecting light that is naturally emitted by the body, to stimulate points on the skin, he was able to achieve targeted, measureable improvements in health and wellness. This idea led to the creation of LifeWave and its patented phototherapy patches. These topically applied patches are placed on the body according to observations drawn from acupuncture. Nanotechnology within the patches is activated by body heat and selectively reflects certain low-level frequencies of light, that, depending on the intended outcome of each patch, produces a range of health benefits.
Growth and Further Achievement
While plenty of emphasis in business is placed on marketing, sales, and other concentrations, it still holds true that the effectiveness of a company’s core product is one of the main predictors of its success. In the case of LifeWave, the ability of the patches created by David Schmidt to improve physical and mental health helped it expand rapidly.
As more and more customers saw the benefits of these patches firsthand, their use became increasingly widespread. With their applications addressing some of the most common complaints found in modern society, including lack of energy, chronic discomfort, and insomnia, large portions of the global population became loyal customers.
That grassroots success helped fuel a massive expansion for the company. That expansion was so pronounced that it earned the company a spot-on Inc. magazine’s list of the fastest-growing companies in three separate years. It has also helped the company expand its offerings to more than 75 countries worldwide and helped establish the creation of the company’s many offices and distribution centers.
For those who follow the world of business, it’s no surprise to hear that innovators play a pronounced role in the modern economy. Their ability to create new products and services that have mass appeal has helped some of the world’s biggest companies gain their places as behemoths of technology.
To better understand this process, we’ve turned to the example set by David Schmidt in his capacity as CEO of LifeWave. Looking to his early life and the influence that it had on his later innovations can be an instructive example of the role that inventors play in the modern economy.
Look for additional work by the innovator to further understand the connection between his creative spirit and the success of his health technology company.