How could something get so popular and in such a short period of time become almost non-existent?
Every year there is a product that becomes the hottest thing that everyone feels like they just have to get. And then for some reason after 12-24 months no one is talking about this so called "need to have" product or service.
But why, though? What is it about these fad products that brings about their immediate rise to the top, followed by sudden disappearance in the marketplace? How could something get so popular and in such a short time period become almost non-existent?
There are many reasons why this happens to products like the Snuggie, Silly Bandz, and Beanie Babies but the most recent product I witnessed this happen to was the Hoverboard. In my opinion, you know you potentially have a fad product when the item is something that no one has ever seen before. A product that offers a unique and clever way of doing something differently than we've ever seen before.
Snuggies provided a new, fashionable, comfortable and efficient blanket. Silly Bandz took your standard bracelet and your favorite object and simply combined the two into a malleable bracelet. Beanies Babies had their own stories and poems associated with each tag, made funny "bean" sounds when you played with them, and looked more adorable than your standard stuffed animal. All of a sudden the centuries' old blanket, bracelet, and stuffed animal had been re-invented in a clever new way.
With the Hoverboard, we were re-inventing personal transportation. We were making walking and biking much cooler and efficient whilst accelerating the concept of personal transportation into the 21st century.
In the case of the Hoverboard, and just like each of the examples above, it became very popular very quickly and then dwindled in popularity. So why did this happen to the Hoverboard? Lets analyze a couple reasons below:
Believe it or not, there were dozens of more reasons why the Hoverboard turned into a fad product. Many of these other reasons will be covered in upcoming blog posts. What can definitely be stated though, is that launching a fad product business can really suck, especially when it goes viral. The reason is that during the viral growth stage, you feel like you have the best thing since sliced bread and it creates a mirage.
This viral mirage feels so good that you mentally ignore many of the signs, warnings and red flags pointed out above. When that mirage starts to clear out 6 months later, you end up realizing many of those circumstances were actually out of your control and if you knew of them ahead of time you probably wouldn't have started the business in the first place.
Written by Max Ringelheim
Max Ringelheim is a 26 year old seasoned, successful, and as many others before him failed entrepreneur. After graduating college Max co-founded and bootstrapped his own video conferencing technology company called Vonvo.com. After 3.5 years and seeing many accomplishments such as raising over $150,000 in angel funding, and having his software utilized at the United Nations, he decided to put Vonvo on hold. He then transitioned into a consulting role for various startup companies in NYC. Some of his most recent consulting roles were assisting as an SDR for an Ad-Tech startup called ListenLoop, and being responsible for co-launching the recently acclaimed "Hoverboard Movement." Some accomplishments he experienced in the Hoverboard industry were generating over 7 figures in sales revenues in less than 8 weeks, and establishing dozens of partnerships with various notable celebrities. Max is now looking for new opportunities with exciting companies where he can leverage his tireless work ethic, enormous network, and viral growth hacking abilities.
Transformemos nuestra percepción del fracaso y utilicémoslo como catalizador del crecimiento.