From Commandment #3 - "Fastlane Entrepreneurs are committed to providing value, fulfilling needs, and satisfying wants because they know it attracts money."
I don't have much experience with physical products, but am curious about novelty items. You see them everywhere you go, the grocery store, the gas station, the amusement parks, concerts, etc. Key chains, stuffed animals, candy necklaces, crazy sunglasses, etc. And then there's something like Silly Bandz that goes and sells hundreds of millions of dollars worth.
I understand they fulfill a "want" more-so than a need, but how does one go about determining that want when developing new novelties? Is it really just a matter of trial and error trying a large number of products? Make something, get it out there, and see if people buy 'em? Or is there a more scientific method to novelties? Can that "want" be created through the right marketing?
I don't have much experience with physical products, but am curious about novelty items. You see them everywhere you go, the grocery store, the gas station, the amusement parks, concerts, etc. Key chains, stuffed animals, candy necklaces, crazy sunglasses, etc. And then there's something like Silly Bandz that goes and sells hundreds of millions of dollars worth.
I understand they fulfill a "want" more-so than a need, but how does one go about determining that want when developing new novelties? Is it really just a matter of trial and error trying a large number of products? Make something, get it out there, and see if people buy 'em? Or is there a more scientific method to novelties? Can that "want" be created through the right marketing?
Dislike ads? Become a Fastlane member:
Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)
Membership Required: Upgrade to Expose Nearly 1,000,000 Posts
Ready to Unleash the Millionaire Entrepreneur in You?
Become a member of the Fastlane Forum, the private community founded by best-selling author and multi-millionaire entrepreneur MJ DeMarco. Since 2007, MJ DeMarco has poured his heart and soul into the Fastlane Forum, helping entrepreneurs reclaim their time, win their financial freedom, and live their best life.
With more than 39,000 posts packed with insights, strategies, and advice, you’re not just a member—you’re stepping into MJ’s inner-circle, a place where you’ll never be left alone.
Become a member and gain immediate access to...
- Active Community: Ever join a community only to find it DEAD? Not at Fastlane! As you can see from our home page, life-changing content is posted dozens of times daily.
- Exclusive Insights: Direct access to MJ DeMarco’s daily contributions and wisdom.
- Powerful Networking Opportunities: Connect with a diverse group of successful entrepreneurs who can offer mentorship, collaboration, and opportunities.
- Proven Strategies: Learn from the best in the business, with actionable advice and strategies that can accelerate your success.
"You are the average of the five people you surround yourself with the most..."
Who are you surrounding yourself with? Surround yourself with millionaire success. Join Fastlane today!
Join Today
