Despite losing his sight a year and a half ago, Ron’s vision for the future remains undiminished. His story is a testament to resilience and the power of seeing beyond challenges.

Ron began his interview with his backstory: he was drafted during the Korean War, which allowed him to utilize the GI Bill for technical training in electronic engineering. This blend of engineering acumen and innovative thinking set the stage for his groundbreaking future achievements. Initially working as a chief engineer, Ron faced numerous challenges, each transforming into opportunities that fueled his career.

The Birth of the Magnetic Strip

The idea of the magnetic strip on credit cards was born out of a necessity to simplify and speed up the transaction process. In the early 1960s, a major department store approached Ron with a problem: the existing system for processing charge purchases was slow and cumbersome. Ron’s solution was to place a piece of tape on the back of the credit card with the account number encoded on it, enabling quicker and more reliable transactions. This innovation revolutionized the credit card industry, making transactions faster and more secure. It was a perfect example of his emphasis on simplification, enhancement, and providing tangible benefits.

"The need was there, [and] we simplified the need. What was the need? Put the burden back on the people that it should be on – the credit card companies, not the merchant," said Ron.

Creating the MLS

Before the MLS, finding properties in a new location was complicated. Ron was tapped to create a centralized database where real estate listings could be accessed from remote locations. Using early telecommunications technology, Ron developed suitcase-type terminals with acoustic couplers to communicate with a central computer. This system allowed agents to quickly and efficiently access property listings, simplifying the process for both buyers and sellers.

Smart, Daring, and Different

Remington: You invented the MLS, you invented the credit card strip. But how much of the business and salesmanship have to go into building your business and your ideas selling other people?

Ron: Okay, let me tell you how it works. I'm going to give you a little bit of phraseology. [You have] to be smart, daring, and different. What I mean by smart is not a PhD from Harvard. Smart means pay attention, learn something new every day, and be aware – street smart. Don't be afraid to make mistakes. That's your best education.

Advice for Aspiring Innovators

For young entrepreneurs and creators facing discouragement, Ron’s advice is clear: focus on solving problems, simplifying processes, and enhancing what exists. It’s essential to provide real benefits through your innovations. When times get tough, analyzing the problem and visualizing the potential solutions is crucial.

"Think about what you can enhance – what it is that you want to provide that is not being provided now. And how can you do that? How can you solve the problem," said Ron.

Ron Klein’s story is a powerful reminder that innovation is not just about having great ideas but also about resilience, adaptability, and the relentless pursuit of better solutions. His journey from engineering to groundbreaking inventions shows the incredible impact of seeing beyond immediate challenges and focusing on the broader vision. We're so thankful Ron shared his remarkable story on Real Producers Podcast.

>>Click here for Ron's full episode