It’s crazy how interconnected we are today. I am not even talking about the usual suspects – the social media. But being born in ex-Soviet Union, I still remember when a Hollywood movie would reach us only in two or three years.
Now, however, a viral YouTube video or a toy that helps with stress, a fidget spinner not only has the power to take over the world overnight, but have an impact on worldwide economy.
Here’s the proof.
Way to make quick money
A fidget spinner can cost anywhere from $5 to $15, however we learned not to put caps on prices since after Kanye West’s $120 plain white T-shirt sold out.
But going back to viral trends, smart marketers catching these waves may earn fortunes via drop shipping methods that don’t require you to ever have the product. Say, hypothetically, you live in a third-world country where $100-$200 gets you by a whole month.
If you catch a viral wave, such as with fidget spinners, 20 units sold could earn you a whole month of expenses in a day. These toys were introduced in February, so in 7 months you could have sold over 4,000 units worth around $35,000-$42,000. With that money you could create a business and employ half of the town.
Of course, these are just rough numbers. Current estimate of fidget spinner units sold is 300,000, so 4,000 doesn’t seem that unlikely. On the contrary, the potential is much higher.
Hopefully you understand how much potential power to singlehandedly turn around economies is in everyone’s hands right now. Drop shipping and affiliate marketing are just two remote ways how without a business address or a product of your own, or even talking with the supplier, you could be earning hundreds of thousands of dollars every month.
And these models won’t replace how traditional economy works. The product still has to be created. But nowadays a lot of emphasis is put on the way the product finds its way to the consumer rather putting it on the shelf and waiting for it to get noticed.
It may seem like a crazy question. If there is a way, why shouldn’t you? The problem with these quick trends is that they finish fast. While you don’t risk much, you may spend lots of time for practically nothing. To earn your share, you have to build a website and promote it. People need to find you while the trend is on the rise, while hundreds of your competitors are also trying to get the audience’s attention. That’s what I don’t recommend chasing every trend you see on Twitter. But being smart and observant, slowly focusing on a couple of niches – that’s a much more viable option that could actually be worth your time.