Thursday, June 8, 2017

The Greatest Business Failure Of All Time Produced One of The Best-Selling Books Ever

Inc., May 8, 2017

by Theodore Kinni


On June 8, the original manuscript of one of the best-selling books of all time was supposed to have been sold at auction. Valued at $2-3 million, it's title is Alcoholics Anonymous, but it's better known as the Big Book and, for nearly 80 years, it's been helping alcoholics in their struggle to get and stay sober.

In late May, Alcoholics Anonymous sued to stop the sale, claiming it was the rightful owner of the manuscript. But that's hardly the most interesting part of this story. What you probably don't know about the Big Book is that it played an integral role in the greatest business failure of all time.

In 1937, Alcoholics Anonymous co-founders Bill Wilson and Dr. Bob Smith discussed publishing a book to raise awareness about alcoholism, to help promote their program for combating the disease, and to attract investors for a for-profit chain of detox centers.

Recovering alcoholics themselves, Bill W. and Dr. Bob, as they are known, almost got the business off the ground. Read the rest here

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