Need Motivation? Guy With a Fat Head (Literally) Starts Multi Million Dollar Business

14 replies
Check out this story guys:
Rico Elmore, Fatheadz: When Regular Glasses Just Won't Fit

Here's a guy who sees a problem, and creates the solution.

Also, very, very, important: If you read the article you'll notice that he ran into several roadblocks when first starting his business. But, he didn't give up.

That, my fellow warriors, is one of the biggest keys to success.

All of you newbies out there, keep this in mind. Yes, you REALLY can earn a very nice living from home, that's not a pipe dream. However, the path isn't paved entirely with gumdrops and candy canes. It's how you react to the roadblocks that will determine your success.
#business #dollar #fat #guy #head #literally #million #multi #starts
  • That's an interesting article, thanks.

    But did you catch the mistake he's about to make? It's a common blunder with IMers, too...

    fLufF
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    • Profile picture of the author danr62
      Originally Posted by fluffythewondercat View Post

      That's an interesting article, thanks.

      But did you catch the mistake he's about to make? It's a common blunder with IMers, too...

      fLufF
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      Striking a deal with Walmart?
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      • Profile picture of the author LegitIncomes
        Originally Posted by danr62 View Post

        Striking a deal with Walmart?
        That's the only thing I saw that stuck out.

        Financing, or hiring people? But those don't seem like mistakes to me . . . what am I missing?
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        • "We're working on clothing and a shoe line that will encompass the big man as well. So there, again, we want stylish stuff for the big man."

          Big oops.

          Lack of focus will kill a brand...or your IM business. Clothing and shoes when Fatheadz isn't even a household name? Steve Jobs would have called this guy an unprintable name.

          Some marketers get all wrapped up inside their head and think they're invincible once they've had a taste of success. What they should do is stick with it: focus on their brand, improve their products, dominate their niche.

          Fatheadz doesn't have the big head sunglasses niche locked up. In fact, their price point invites competition. It's not hard at all to have these shades replicated overseas. There's nothing proprietary about them; they're a commodity. Goodbye, $40 Fatheadz, hello $19.99 Walmart brand. No one knows or cares they're not buying genuine Fatheadz. All they want is something that fits their overlarge head.

          Mr. Elmore's job is to make sure people care about getting the "real thing." Otherwise he's just holding his lunch out and inviting passersby to eat it.

          fLufF
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          • Profile picture of the author sbucciarel
            Banned
            Originally Posted by fluffythewondercat View Post

            "We're working on clothing and a shoe line that will encompass the big man as well. So there, again, we want stylish stuff for the big man."

            Big oops.

            Lack of focus will kill a brand...or your IM business. Clothing and shoes when Fatheadz isn't even a household name? Steve Jobs would have called this guy an unprintable name.
            --
            Tell that to Amazon who started out with books .... ooops.
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            • You're obviously not a product person.

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              • Profile picture of the author sbucciarel
                Banned
                Originally Posted by fluffythewondercat View Post

                You're obviously not a product person.

                fLufF
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                Gee ... I thought that's how I made a living. I sell my products. Ok .. if Amazon isn't a good enough example of successful diversification, there are plenty of examples where diversification and expansion clearly worked out well for the companies and in cases like Hallmark, saved the company.

                Levi Straus jeans for men - expanded to jeans for women and children

                Hallmark: An Example of Diversification for Profit Stability

                Perhaps no industry is more subject to seasonal cycles that manufacturers of greeting cards. Predictably, sales are highest at traditional holidays. Privately owned, Hallmark Cards, Inc. and its Ambassador subsidiary have a 44% share of the greeting card market . In 1910 Joyce Hall as an eighteen year old started selling post cards from his rented YMCA room in Kansas City, Missouri. In 1911 Joyce's half-brother joined the fledgling enterprise and greeting cards were added to the product line. Hall Brothers store was established specializing in postcards, gifts, books and stationary. When a 1915 fire destroyed everything, the brothers obtained a loan, bought an engraving company and began producing greeting cards in time for Christmas. In 1928 the company covered the U.S. market and introduced gift wrap. In 1936 the company introduced the case display for their cards. In 1950 Hall Brothers opened their first greeting card store and in 1951 began its "Hallmark Hall of Fame" television production. The company has consistently expanded its lines of products to insure against the seasonal nature of its core product. In the 1980's Hallmark acquired Binney and Smith, manufacturer of Crayola Crayons and Magic Markers, and Univision, a Spanish language TV network. In 1990 the company acquired Dakin, manufacturer of plush toys. Hallmark also owns the portrait studio chain Picture People and continues to expand its TV programming through Hallmark Entertainment.

                Philip Morris: Diversification Away from the Core Business

                Anticipating that the cigarette industry would decline in the future, Philip Morris decided to diversify its product offerings and looked for acquisitions of unrelated products to decrease dependence on the future of tobacco. In 1970 it acquired Millers' Brewing for $ 227 million. Miller was the eight largest U.S. brewer with a 4.4% market share. Philip Morris increased Miller production, introduced new lines of products (Miller Malt Liquor, Milwaukee Ale, Miller Ale), acquired Meister Brau in 1972, and in 1975 introduced Miller Lite. By 1972, under Philip Morris Miller grew to the 3rd largest brewer, behind Schlitz; in 1980, Miller overtook Schlitz to become the second largest brewer. Today Philip Morris Companies is a holding company with a diversified product offering: Miller Brewing, General Foods (acquired, 1985), Kraft, Oscar Meyer (acquired, 1981), and Philip Morris. In 1989, tobacco products accounted for 40% of sales, food products ac counted for 51%, and beer accounted for 8%.
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                • Profile picture of the author AfteraDream
                  Originally Posted by sbucciarel View Post

                  Gee ... I thought that's how I made a living. I sell my products. Ok .. if Amazon isn't a good enough example of successful diversification, there are plenty of examples where diversification and expansion clearly worked out well for the companies and in cases like Hallmark, saved the company.
                  I think it's about timing of diversification not whether he should do it or not. It's too soon for Fatheadz to expand, they still need to build a bigger brand name and cement their position. THEN expand. I'm guessing Amazon did this the same way, first got huge in book selling then expanded.
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          • Profile picture of the author bwh1
            Originally Posted by fluffythewondercat View Post


            Goodbye, $40 Fatheadz, hello $19.99 Walmart brand. No one knows or cares they're not buying genuine Fatheadz. All they want is something that fits their overlarge head.
            Whenever there is a market size big enough to suit more then just one brand you WILL have competitors.

            The fact that he can land deals like with Walmart means that his idea kicks, even before he is the worldwide recon brand for special glasses.

            Fatheadz for $40. Not very expensive if you look at RAY-BAN or OAKLEY glasses where people (over) pay for special glasses.

            Don't know if a competitor has enough hunger to beat a $40 dollar product with a $20 dollar product if it isn't a mass market.

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          • Profile picture of the author Fraggler
            Originally Posted by fluffythewondercat View Post

            Lack of focus will kill a brand..
            The beautiful thing about focus is that you can always change the focal length. He seems to be seeing things pretty clearly - with his Fatheadz prescription sunglasses - just looking at a bigger picture.
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            • Profile picture of the author LegitIncomes
              Originally Posted by Fraggler View Post

              The beautiful thing about focus is that you can always change the focal length. He seems to be seeing things pretty clearly - with his Fatheadz prescription sunglasses - just looking at a bigger picture.
              I agree with you. I don't think expanding the product line is necessarily going to hurt the business. It COULD if not managed correctly....but it could also vastly increase the business if managed properly.

              He did right by starting with a single product, at some point in time you've got to branch out and expand the business. No one really knows when that right time for each business is, but at least the guy is going for it. Many others would simply be too scared to even start the business.
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  • Profile picture of the author sbucciarel
    Banned
    Great story. Never even gave that "problem" a thought.
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  • Profile picture of the author celente
    a great read and very interesting story.

    It is a common mistake yes.
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  • Profile picture of the author dadamson
    Great stuff!

    Fadheadz, I love it!

    Starting a business is a very difficult venture but as long as you believe in your product or service then you can succeed.

    This is very relatable for me.
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