10 Simple Product Ideas That Made Billions

10 Simple product IDEAS THAT „Made Billions. . "I really wish I had invented the flip-flop. I love flip-flops. It's the one style of shoe I would be so proud of inventing: the Havaiana." -Christian Louboutin, French footwear designer SIMPLE IDEAS THAT BECAME HOUSEHOLD NAMES Kellogg's Corn Flakes Invented: 1894 2012: Kellogg's net revenue from Morning Foods was $ 2.8 billion in the U.S alone. Today: It is the world's #1 producer of cereal, snacks & frozen foods. It is currently produced in 18 countries & marketed in over 180 countries. Kleenex Invented: Early 1920s 2011: Consumer Tissue Spanx (incl. Kleenex) generated close to $6 billion for Kimberly-Clarke. By 2012: It was marketed in over 150 countries. Invented: 1998 The company started with just $5,000. 2012: The company was worth $1 billion. Spanx can now be found in over 40 countries. Post-It Invented:1974 Post-it Notes raked in over $2 million after the first year. 2012: They generated $1 billion. They are sold in over 100 countries. Band-Aids Invented: 1921 In its first year of production, Band-Aids generated a pitiful $3,000 in sales. 1961: At the time of the inventor's death Johnson & Johnson was selling over $30 million worth of Band-Aids per year. 2001:Over 100 billion had been sold worldwide. CORN FLAKES Slinky Under Armour Invented:1943 1945: First sold for $1/unit. The first 400 Slinkies sold out within the Invented:1995 The inventor started the company in his grandmother's basement. Start up capital came from maxing out credits cards to the tune of $40,000. By 2012: The new company's net revenues were approximately $1.82 billion first hour of hitting the shelves, on Christmas in a Gimbel's Department Store. By 2012: James Industries has produced & sold over 250 million worldwide. Frisbee Invented:1937 1955: Sold to Wham-O, the disc was named after pie tins that New England students played catch with on college campuses. By 1970: It's inventor had earned $500,000 in royalties. 2012: Over 300 million had been sold. Crocs Velcro Invented: 2002 2008: Crocs made $900 million. 2011: The brand reached $1 billion in annual sales. By 2012: 200 million pairs of shoes had been sold in over 90 countries. Invented: 1941 Velcro started out as a $60/week small business. 1988: It became an international company earning $93 million. By 2012: It is sold in over 40 countries. THE STORIES BEHIND THE IDEAS Kellogg's CORN FLAKES "Inventing is a combination of brains & materials. The more brains you use, the less material you need." Inventor - The Kellogg brothers, John & Will. Inspiration - After a pot of boiled grain was accidentally left on the stove for several days, the mixture turned moldy but the product that emerged was dry & thick. The brothers eliminated the mold Charles Kettering, American inventor, businessman, & the holder of 186 patents. part, creating corn flakes. VELCRO Kleenex Inventor - George de Mes- tral UNDER ARMOUR Inspiration - Fed up with removing cocklebur seeds from his dog & jacket, he put one under a microscope to discover the secret of its stickiness. He found velours (French for loops, in clothing) & crochets (hooks) on the burs. Taking the first syllables of the words, he replicated the fastening phenomenon synthetically to create Velcro, Inventor - Kevin Plank, football player for U of Maryland Inspiration: Noticing that the cotton T-shirts he & his teammates wore underneath Inventor - Kimberly-Clark Company Inspiration - Developing creped wadding for its first ever consumer product, Kotex, the manufacturer changed the ingredient blends & using different pulps, were able to make a softer crepe. From this, the idea of Kleenex facial tissue was born. their pads were always soaked & heavy with sweat, he felt that there must be some better material out there for their specific needs. SPANX RY SARA RLAKELY BAND-AID Inventor - Sara Blakely Inspiration - One night before going out, to eliminate "grid butt" created by regular under- wear, she cut the feet off of her pantyhose to wear under tight fitting white slacks. Inventor - Cotton buyer for Johnson & Johnson, Earle Dickson Inventor - Naval engineer, Richard Jones. Inspiration - His wife Josephine Dickson was always cutting her fingers in the kitchen while preparing food. Earle decided to invent something that would stay in place & protect small wounds better. Inspiration - He was working with tension springs when one fell to the ground. That spring kept bouncing from place to place after it hit the ground, & the slinky was born. Post-it crocs" ORIGINAL Inventor - Scott Seamans, George B. Boedecker Jr., Lyndon "Duke" Hanson Inspiration - Finproject N.A. created a waterproof & bacteria resistant, proprietary plastic known as "croslite". Made into clogs for use in European day spas, Seamans saw its potential for boating shoes. FRISBEE DISC Inventor - 3M designer, Art Fry Inspiration - Frustrated by errant hymnbook page mark- ers at choir practice, he real- ized the need for a low-tack sticky note. Applying 3M's weak glue invention to yellow paper, the Post-It was born. Inventor - Walter Frederick Morrison Inspiration - He & his girlfriend tossed the circular lid of a popcorn tin around in the backyard to pass time before Thanksgiving dinner. 1. Validate your product concept. 8+ 2. Study your competition. MARKETING TIPS FOR LAUNCHING 3. Target the ideal customer. 4. Create a unique value proposition. YOUR NEW PRODUCT 5. Define your marketing strategy & tactics. 6. Test your concept & marketing approach. 7. Roll out your campaign. 8. Know your product's lifecycle. BRAND LAUNCHES THAT CONSISTENTLY MADE MILLIONS Entrepreneur - Scott Boilen Brand Launched - The Snuggie Founded - 2008 Entrepreneur - Robert Greenberg 1st Brand Launched -L.A. Gear Shoes Founded- 1983 1990 - Grossed more than $900 million 2nd Brand Launched-Skechers U.S.A. Inc. Founded - 1992 1998 - Annual sales hit $400 million 2008- With stronger marketing this blanket with sleeves generated just under $40 million dollars in the first 3 months. Entrepreneur - Gary Clegg Brand Launched-The Slanket (unpatentable) Founded - 2006 2008- Annual sale of this blanket with sleeves reached $4.2 million. America Grows Here. GrowAmerica SOURCES http://www.marketwatch.com/story/kellogg-company-announces-third-quarter-results-solid-underlying-performance-2012-11-01. http://www.startupplays.com/plays/new_product_concept - http://www.marketwatch.com/story/kellogg-company-announces- third-quarter-results-sa 5-solid-underlying-performance-2012-11-01 - http://www.startupplays.com/plays/new_product_concept · http://adage.com/article/news/humble-snuggie-marketing- s-red-hot-seller/134080V - http://www.nytimes.com/2009/02/27/business/media/27adco.html?_r=0. http://www.dynamicpatents.com/2009/02/did-the-snuggle-imitate-the-slarket/ - http://thesnuggieshop.com/snuggle-history.html - http://www.mainstreet.com/slideshow/small-business/secret-snuggles-success • http://www.underarmour.jobs/our-history.asp. http://investor.underarmour.com/releasedetal.cfm?ReleaselD=716153 - http://spanx.com/category/indexjsp?categoryld=4463905&clickld=topnav_aboutus_text • 5. http://www.independent.co.uk/news/business/news/those-ludicrous-ideas-that-made-a-bilion-7554529 html - http://honoring entorbloo S70032ega us patented html - http://company.crocs.com/our-company/about-crocs/ - http://www.entrepreneur.com/article/76364. http://sportsillustrated.cnncom/vault/article/magazine/MAG 1083894/index.htm • http://www.worldwatch.org/node/6387 http://www.fool.com/investing/general/2012/12/28/the-silver- screen-comes-to-life.aspx• http://www.kdeafinder.com/history/inwentions/bandald.htm • http://www.therichest.org/workd/accidental-millonaires-and-billionaires/: http:/216.139.227.101/interactive/kmb2011/- http://www.wipo.int/padvantage/en/detals isp?id=2658 http://www.fundinguniverse.com/company-histories/skechers-u-s-a-inc-history/ - http://www.velcro.com/About-Us/Our-Brand.aspx http//www.nytimes.com/2012/11/11/magazine/who-made-velcro.html?_r0. http://www.wham-ocom/news/press20120531html. http://nvestor kelloggs.com/history.cfm - http://www.ideafinder.com/history/inventions/kelloggefhtm • http://technologylilithezine.com/101-Inventionshtml. http://wwwantibodycommunications.com/corporate/Top1OModerninventions.pdf - http://www.qtips.com/home/abouthttp://inwentors.about.com/ibrary/weekly/aa980218.htm. http://www.kleenex.com/BrandStory.aspx-http://www.independent.co.uk/ife-style/gadgets-and-tech/features/101-gadgets-that-changed-the-workt-398535 html. http://inventors.about.com/od/bstartirventions/a/bandaid.htm - http://www.brainyquote.com/quotes/keywords/inventing html440URCABBIFEQzqOG.99. http://wwwindependent.co.uk/news/world/americas/i-never-liked-the-name-said-frisbee-inventor-who-has-died-at-90-1898160.html - http://www.businessinsider.com/these-10- inventions-were-made-by-mistake-2010-11?op-1- htp//www.businessinsider.com/these-10-inventions-were-made-by-mistake-2010-11?op-1 10 Simple product IDEAS THAT „Made Billions. . "I really wish I had invented the flip-flop. I love flip-flops. It's the one style of shoe I would be so proud of inventing: the Havaiana." -Christian Louboutin, French footwear designer SIMPLE IDEAS THAT BECAME HOUSEHOLD NAMES Kellogg's Corn Flakes Invented: 1894 2012: Kellogg's net revenue from Morning Foods was $ 2.8 billion in the U.S alone. Today: It is the world's #1 producer of cereal, snacks & frozen foods. It is currently produced in 18 countries & marketed in over 180 countries. Kleenex Invented: Early 1920s 2011: Consumer Tissue Spanx (incl. Kleenex) generated close to $6 billion for Kimberly-Clarke. By 2012: It was marketed in over 150 countries. Invented: 1998 The company started with just $5,000. 2012: The company was worth $1 billion. Spanx can now be found in over 40 countries. Post-It Invented:1974 Post-it Notes raked in over $2 million after the first year. 2012: They generated $1 billion. They are sold in over 100 countries. Band-Aids Invented: 1921 In its first year of production, Band-Aids generated a pitiful $3,000 in sales. 1961: At the time of the inventor's death Johnson & Johnson was selling over $30 million worth of Band-Aids per year. 2001:Over 100 billion had been sold worldwide. CORN FLAKES Slinky Under Armour Invented:1943 1945: First sold for $1/unit. The first 400 Slinkies sold out within the Invented:1995 The inventor started the company in his grandmother's basement. Start up capital came from maxing out credits cards to the tune of $40,000. By 2012: The new company's net revenues were approximately $1.82 billion first hour of hitting the shelves, on Christmas in a Gimbel's Department Store. By 2012: James Industries has produced & sold over 250 million worldwide. Frisbee Invented:1937 1955: Sold to Wham-O, the disc was named after pie tins that New England students played catch with on college campuses. By 1970: It's inventor had earned $500,000 in royalties. 2012: Over 300 million had been sold. Crocs Velcro Invented: 2002 2008: Crocs made $900 million. 2011: The brand reached $1 billion in annual sales. By 2012: 200 million pairs of shoes had been sold in over 90 countries. Invented: 1941 Velcro started out as a $60/week small business. 1988: It became an international company earning $93 million. By 2012: It is sold in over 40 countries. THE STORIES BEHIND THE IDEAS Kellogg's CORN FLAKES "Inventing is a combination of brains & materials. The more brains you use, the less material you need." Inventor - The Kellogg brothers, John & Will. Inspiration - After a pot of boiled grain was accidentally left on the stove for several days, the mixture turned moldy but the product that emerged was dry & thick. The brothers eliminated the mold Charles Kettering, American inventor, businessman, & the holder of 186 patents. part, creating corn flakes. VELCRO Kleenex Inventor - George de Mes- tral UNDER ARMOUR Inspiration - Fed up with removing cocklebur seeds from his dog & jacket, he put one under a microscope to discover the secret of its stickiness. He found velours (French for loops, in clothing) & crochets (hooks) on the burs. Taking the first syllables of the words, he replicated the fastening phenomenon synthetically to create Velcro, Inventor - Kevin Plank, football player for U of Maryland Inspiration: Noticing that the cotton T-shirts he & his teammates wore underneath Inventor - Kimberly-Clark Company Inspiration - Developing creped wadding for its first ever consumer product, Kotex, the manufacturer changed the ingredient blends & using different pulps, were able to make a softer crepe. From this, the idea of Kleenex facial tissue was born. their pads were always soaked & heavy with sweat, he felt that there must be some better material out there for their specific needs. SPANX RY SARA RLAKELY BAND-AID Inventor - Sara Blakely Inspiration - One night before going out, to eliminate "grid butt" created by regular under- wear, she cut the feet off of her pantyhose to wear under tight fitting white slacks. Inventor - Cotton buyer for Johnson & Johnson, Earle Dickson Inventor - Naval engineer, Richard Jones. Inspiration - His wife Josephine Dickson was always cutting her fingers in the kitchen while preparing food. Earle decided to invent something that would stay in place & protect small wounds better. Inspiration - He was working with tension springs when one fell to the ground. That spring kept bouncing from place to place after it hit the ground, & the slinky was born. Post-it crocs" ORIGINAL Inventor - Scott Seamans, George B. Boedecker Jr., Lyndon "Duke" Hanson Inspiration - Finproject N.A. created a waterproof & bacteria resistant, proprietary plastic known as "croslite". Made into clogs for use in European day spas, Seamans saw its potential for boating shoes. FRISBEE DISC Inventor - 3M designer, Art Fry Inspiration - Frustrated by errant hymnbook page mark- ers at choir practice, he real- ized the need for a low-tack sticky note. Applying 3M's weak glue invention to yellow paper, the Post-It was born. Inventor - Walter Frederick Morrison Inspiration - He & his girlfriend tossed the circular lid of a popcorn tin around in the backyard to pass time before Thanksgiving dinner. 1. Validate your product concept. 8+ 2. Study your competition. MARKETING TIPS FOR LAUNCHING 3. Target the ideal customer. 4. Create a unique value proposition. YOUR NEW PRODUCT 5. Define your marketing strategy & tactics. 6. Test your concept & marketing approach. 7. Roll out your campaign. 8. Know your product's lifecycle. BRAND LAUNCHES THAT CONSISTENTLY MADE MILLIONS Entrepreneur - Scott Boilen Brand Launched - The Snuggie Founded - 2008 Entrepreneur - Robert Greenberg 1st Brand Launched -L.A. Gear Shoes Founded- 1983 1990 - Grossed more than $900 million 2nd Brand Launched-Skechers U.S.A. Inc. Founded - 1992 1998 - Annual sales hit $400 million 2008- With stronger marketing this blanket with sleeves generated just under $40 million dollars in the first 3 months. Entrepreneur - Gary Clegg Brand Launched-The Slanket (unpatentable) Founded - 2006 2008- Annual sale of this blanket with sleeves reached $4.2 million. America Grows Here. GrowAmerica SOURCES http://www.marketwatch.com/story/kellogg-company-announces-third-quarter-results-solid-underlying-performance-2012-11-01. http://www.startupplays.com/plays/new_product_concept - http://www.marketwatch.com/story/kellogg-company-announces- third-quarter-results-sa 5-solid-underlying-performance-2012-11-01 - http://www.startupplays.com/plays/new_product_concept · http://adage.com/article/news/humble-snuggie-marketing- s-red-hot-seller/134080V - http://www.nytimes.com/2009/02/27/business/media/27adco.html?_r=0. http://www.dynamicpatents.com/2009/02/did-the-snuggle-imitate-the-slarket/ - http://thesnuggieshop.com/snuggle-history.html - http://www.mainstreet.com/slideshow/small-business/secret-snuggles-success • http://www.underarmour.jobs/our-history.asp. http://investor.underarmour.com/releasedetal.cfm?ReleaselD=716153 - http://spanx.com/category/indexjsp?categoryld=4463905&clickld=topnav_aboutus_text • 5. http://www.independent.co.uk/news/business/news/those-ludicrous-ideas-that-made-a-bilion-7554529 html - http://honoring entorbloo S70032ega us patented html - http://company.crocs.com/our-company/about-crocs/ - http://www.entrepreneur.com/article/76364. http://sportsillustrated.cnncom/vault/article/magazine/MAG 1083894/index.htm • http://www.worldwatch.org/node/6387 http://www.fool.com/investing/general/2012/12/28/the-silver- screen-comes-to-life.aspx• http://www.kdeafinder.com/history/inwentions/bandald.htm • http://www.therichest.org/workd/accidental-millonaires-and-billionaires/: http:/216.139.227.101/interactive/kmb2011/- http://www.wipo.int/padvantage/en/detals isp?id=2658 http://www.fundinguniverse.com/company-histories/skechers-u-s-a-inc-history/ - http://www.velcro.com/About-Us/Our-Brand.aspx http//www.nytimes.com/2012/11/11/magazine/who-made-velcro.html?_r0. http://www.wham-ocom/news/press20120531html. http://nvestor kelloggs.com/history.cfm - http://www.ideafinder.com/history/inventions/kelloggefhtm • http://technologylilithezine.com/101-Inventionshtml. http://wwwantibodycommunications.com/corporate/Top1OModerninventions.pdf - http://www.qtips.com/home/abouthttp://inwentors.about.com/ibrary/weekly/aa980218.htm. http://www.kleenex.com/BrandStory.aspx-http://www.independent.co.uk/ife-style/gadgets-and-tech/features/101-gadgets-that-changed-the-workt-398535 html. http://inventors.about.com/od/bstartirventions/a/bandaid.htm - http://www.brainyquote.com/quotes/keywords/inventing html440URCABBIFEQzqOG.99. http://wwwindependent.co.uk/news/world/americas/i-never-liked-the-name-said-frisbee-inventor-who-has-died-at-90-1898160.html - http://www.businessinsider.com/these-10- inventions-were-made-by-mistake-2010-11?op-1- htp//www.businessinsider.com/these-10-inventions-were-made-by-mistake-2010-11?op-1