At thirteen he took to sea, as a boy before the mast, on the East India voyage to Calcutta.

It was on this voyage that he conceived the idea of the revolver and whittled out a wooden model.

On his return he went into his father's works and gained a superficial knowledge of chemistry from the manager of the bleaching and dyeing department.

Then he took to the road for three years and traveled from Quebec to New Orleans lecturing on chemistry under the name of "Dr.Coult." The main feature of his lecture was the administration of nitrous oxide gas to volunteers from the audience, whose antics and the amusing showman's patter made the entertainment very popular.
Colt's ambition, however, soared beyond the occupation of itinerant showman, and he never forgot his revolver.

As soon as he had money enough, he made models of the new arm and took out his patents; and, having enlisted the interest of capital, he set up the Patent Arms Company at Paterson, New Jersey, to manufacture the revolver.