It was during the Depression. The world seemed to be coming to an end - the worst financial crisis the world had ever seen. Yet, out there, someone was thinking of the future. Hazel Bishop had a dream of setting up her own successful business. And she had ideas!
The lady had to end her studies because she had no money to pay for a higher degree. Her only asset was a bachelors degree in chemistry. This was enough, however. At the time the makeup market was sown up by large companies who blocked access to newcomers. Hazel could see no barriers. She set about experimenting with different ingredients for lipstick.
The old joke of a man kissing a woman then going home to his wife who could see the smear of lipstick on his face was doing the rounds - a real "found out" joke. It was common knowledge at the time that bromo acids stained the lips, the drawback being that the acid peeled the top layer of skins off.
Hazel searched for an additive which would prevent this. It took her twenty years to stumble upon lanolin. This moisturiser stopped the peeling skin if bromo acid was kept very low. Voile! She had the new revolutionary product. Getting a loan from Barnard College she started her business. In the first year she made $69,000, quite a respectable sum in those days. Four years later she was turning over 10 million.
Unfortunately, her business partner, a marketer, was much smarter in business than Hazel. He quietly gobbled up most of the stock thus freezing the inventor out. A court settlement was a measly $408,000 and loss of the business.
Long lasting lipstick is still here today. Hazel Bishop made her mark in regard to inventing. Her business career did not go so well. We see this story many times. An intelligent inventor needs a trustworthy business savvy partner to succeed in the market.
◆ Chemistry by Ty Buchanan ◆
