A great business idea can have an unexpected origin. Today, “teddy bear” is a household word. Prior to 1902, it was not.
Many years ago, President Theodore Roosevelt refused to shoot a black bear while on a hunting trip. A cartoonist read about the president’s refusal to shoot a bear in 1902 and drew a cartoon about it.
Morris Michtom and his wife, who made stuffed animals, created a stuffed toy bear and called it “Teddy’s Bear” after seeing the cartoon.
Roosevelt gave Michtom permission to use his name, and that was the origin of the mass production of teddy bears.
Imagine how different toys today would be if we didn’t have teddy bears!