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. :-)
Access Restricted: Unlock 1,000,000+ Posts
Stop Peeking Through the Keyhole.
Open the Door.
You hit a wall because the best advice isn't free—it's earned. Since 2007, MJ DeMarco has been active here daily (99.9% active rate), building a war room for entrepreneurs who refuse to settle for mediocrity.
- Active Daily: Life-changing content posted dozens of times every day. No dead threads.
- MJ's Inner Circle: Direct access to the author of The Millionaire Fastlane.
- Vetted Network: Connect with founders scaling to 7 and 8 figures.
- Proven Roadmaps: Strategy over motivation. Execution over "hustle porn."
"SCALED TO 6-FIGURE MONTHS"
"Tips and advice here saved me from huge mistakes, others allowed me to scale my business to 6-figure months."— User MitchC
"INSANE QUALITY OF PEOPLE"
"The number of high quality people I've met from this forum has been insane. All of it predicated on building real value."— User Richard Peck
"You are the average of the five people you surround yourself with."
Are you surrounding yourself with success?
