How I made My Millions

I recently saw a great show on CNBC called “How I Made My Millions”.  This show is perfect to watch if you are looking for great ideas to make your own business.  Many people I am sure would love to learn how to make millions, so of course I thought it was a great thing to watch, not just for me, but also for my readers to learn such things.  Surely it is something we could all benefit from.

What was the first thing I learned?  I found that the 3 or 4 people who were interviewed were already “positioned” into a place that they could take their product and really make it explode overnight so to speak.  Two of them were very smart marketers since they were children.  You know, the kind of people who would sell lemonade in their front yard, and somehow be able to get their friends to buy whatever they wanted them to buy.

One story I remember very well.  Jennifer Telfer invented what is now known as “My Pillow Pets”.  These are stuffed animals which when opened up become a nice fluffy pillow.  This is such a simple idea, that when you probably think about it, you wish you had come up with it.  I know I wish I had.

Jennifer’s story is a great story.  Her and her husband had been selling things at Kiosks at different malls, but she wanted to have a product all her own to sell at these kiosks.  These Kiosks allowed her to be “positioned” to sell the product that made her her millions.  Then she brainstormed with her husband but finally got an idea with the help of her oldest son to have a stuffed animal which would open up into a pillow, making it useful, rather than just a stuffed animal.  Then, Jennifer with the help of her son developed the first “Pillow Pet”.  Once the first one was made, she tested it on her younger son, who loved it.

After this, Jennifer made a few to sell at her Kiosk, but had some difficulty introducing it to people.  Many people thought that it was just another stuffed animal, so she had to come up with a pitch to explain to people what this new product really was.  After this, her success went through the roof, and now makes millions each year.

So, what have we learned from this story?

1.  Position yourself to be able to sell a great product.

2.  Think of a great, but simple product that is new to people.

3.  Overcome any obstacles which may come up, such as developing a pitch for your product.


2 Responses to “How I made My Millions”

  1. August 17, 2011 at 2:42 am

    This comes on CNBC? I will have to look through my TV Guide and see when this comes on again. I assume it is a series? I always love to watch programs on TV; where people have made a lot of money. Like the programs that focus on lottery winners. I believe this show would be fun to watch and very educational to anyone who likes to market online. I haven’t figured out any money making secrets, but I know others have, so that is enough to keep me going. Nice blog post and thanks for this information!

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