This is an instant traction myth episode ** Hans Wilsdorf and Alfred Davis found Wilsdorf & Davis in 1905 ** Fashion in 1905 was for pocket watches ** It was called the wristlet watch ** The entrepreneurial journey; wrong...wrong...wrong...right ** Hans knew wristwatches were the future ** They were the first to focus on precision movements in wristwatches ** W&D watches are white labeled through jewelers ** Hans trademarks "Rolex"

** What is your favorite watch brand? ** What do you think of when you hear the word "Rolex"? ** They were the first wristwatch to be awarded a certificate of performance ** In 1914 they were awarded a Class "A" Precision certificate by the Kew Observatory ** In 1919 they relocated to Switzerland ** 1926 was a game changer for them ** It took 21 years to get them on the trajectory that would roll them into "Rolex" ** In 1926 they released, the Rolex Oyster case, the first waterproof wristwatch ** I'm trying to find things everyone thinks had instant traction but did not ** What if they tried to make the first dustproof/waterproof watch in 1905? ** Find the mvp. The best way to raise money is to sell product ** What do you do when you have an idea? What do you do next?

** They distributed through jewelers at first ** Packaging and distribution are the two things most people overlook ** In 1931 they had the first self-winding wristwatch

** A lot of their marketing was geared toward outdoor adventure ** They could set their price because of their innovations ** Rolex was rolled into a non-profit trust ** They produce a million watches a year and have a revenue of $13+ billion ** Get to market, understand the distribution channels and market need and get to revenue ** Innovate, iterate and keep moving forward ** Rolex is not an instant traction story.