She established the Betty Claire McMurray Foundation in and the Gihon Foundation in ; both were dedicated to women and supporting female entrepreneurship and artistic endeavors. At the time of her death, Michael Nesmith had started his own label, combining audio records and cassettes with videos. BY Tanya Basu. Graham died in , leaving millions. And that is how the music video as we know it might not have existed without Liquid Paper. She covertly sold the correction fluid to other secretaries and, later, to wholesalers.
Four years after coming up with Mistake Out, Graham accidentally signed a bank letter with the name of her private company and got fired. This gave Graham the opportunity to devote herself to her business full-time. She settled on the name Liquid Paper and finally applied for a patent. Within 10 years, she opened an automated plant and, by , the company made 25 million bottles of Liquid Paper a year.
Graham was following one of the chanciest but most potentially lucrative paths to amassing wealth: risking her time and money in pursuit of building her dream business. Graham found a green bottle at home, wrote "Mistake Out" on a label, and gave it to her friend.
Soon, all the secretaries in the building were asking for some, too. She continued to refine her recipe in her kitchen laboratory, which was based on a formula for tempura paint she found at the local library, with assistance from a paint company employee and a chemistry teacher at a local school. In , Bette Nesmith started the Mistake Out Company: her son Michael and his friends filled bottles for her customers. Nevertheless, she made little money despite working nights and weekends to fill orders.
Bette Nesmith left her typing job at the bank in when Mistake Out finally began to succeed: her product was featured in office supply magazines, she had a meeting with IBM , and General Electric placed an order for bottles.
Although some stories say she was fired from the bank for signing her name with the "Mistake Out Company," her own Gihon Foundation biography reports she simply started working part-time then left as the company succeeded. She became a full-time small business owner, applied for a patent, and changed the name to the Liquid Paper Company.
She now had time to devote to selling Liquid Paper, and business boomed. At each step along the way, she expanded the business, moving her production out of her kitchen into her backyard, then into a four-room house.
In , she married Robert Graham, a frozen-food salesman who then took an increasingly active role in the organization. By , Liquid Paper had grown into a million-dollar business. In , she moved into her own plant and corporate headquarters in Dallas with automated operations and 19 employees. That year, Bette Nesmith Graham sold one million bottles. In , Liquid Paper moved into a 35,square-foot international headquarters building in Dallas.
The plant had equipment that could produce bottles a minute. That same year, she divorced Robert Graham. She had the lion's share of a multi-million dollar industry and Bette, now a wealthy woman, established two charitable foundations, the Gihon Foundation in , to collect paintings and other artworks by women, and the Bette Clair McMurray Foundation to support women in need, in New Player Log In.
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