Wii selling makes man $4,500 in only 6 weeks
February 5, 2008
An unnamed man made roughly $4,500 in roughly 6 weeks selling this Christmas’ most sought after toy, the Nintendo Wii. A little background on this unnamed man. He’s 40, has a masters degree, two kids, and drives a minivan. Sound like a typical Dad. So how does an ordinary Dad make so much money in such a little time off one particular toy. A few ways:
- He scammed eBay - it’s against eBay’s policy to jack up bids by having your “friends” bid on your products. It is illegal, but hey I guess you do what you have to do sometimes.
- He outsmarted/outworked everyone - simple calls to stores and asking when they’ll get the Wii’s in was a huge benefit for him. He studied the distribution schedule and worked around it. He knew when stores were getting the consoles in versus just showing up and hoping.
- He beat the holiday rush - this man made all his sales before Thanksgiving. The early bird once again gets the worm.
- He slowly entered this idea - he didn’t buy as many as he could and try and sell them. He bought one to see how it would go. If the idea failed he wasn’t gonna be out that much money. You see a lot of people jump all over an “idea” and end up losing their shirts. Slowly enter into your idea and as soon as you know it works, jump all over it.
The point of this story is not that the man made a nice little profit from selling Wiis. The point is we need to always be on the lookout for our own little money making strategies. Pay attention to what you see, what you hear, what you expect to happen. Anticipating a demand is not always easy but executed correctly you can make a nice little chunk of change.
Comments
1 Comment »
CURRENTLY READING
Total Money Makeover by Dave Ramsey
A must read for anyone who is looking for some 'average Joe' money advice. Stay tuned for my diary of The Total Money Makeover.
I hate to admit I thought of doing this myself (minus the Ebay fraud). I don’t seen anything wrong with capitalizing on supply/demand economics.