Beware of the Siren's Song
Are you familiar with the myth of the Greek
Sirens? (or Seirenes?)
In Greek Mythology, the Sirens were 'Sea Nymphs'
(think mermaids) who lived on an island called Sirenum
Scopuli...which was surrounded by cliffs and rocks.
Approaching sailors were drawn to them by their
enchanting singing (the 'Siren Songs'), causing them
to sail on to the cliffs and drown.
The term 'siren song' now refers to an appeal that
is hard to resist, but that if followed, will lead to a bad
Last update, I told you about the two major product
types, Demonstration and Static products. If you
missed that update, you can read it here:
However, there is actually a THIRD 'TYPE' of product
with such a strong allure, that it can draw you in....
....and potentially dash your hopes on the rocks - like the sailors
drawn in by the 'Siren's Song' - if you are not careful!
What is that third 'type' product?
It's a type I call the 'Hot, New Product!'
Potentially the next 'Beanie Baby' or 'Metabolife' or
'Radio Controlled Mini Car'....
Not a day goes by that I am not asked for that 'Hot, New
Product' to sell in the mall...the one that EVERYONE is
going to want.
A 'Hot, New Product' CAN make you a lot of money!
This product 'type' can have a HIGH profit potential! But here's the thing....it can be pretty risky.
The potential of the 'Hot, New Product' can be a lot
like the allure of the 'Siren's Song'. It can draw you in,
and then dash your hopes on the rocks.
For every 'Radio Controlled Mini Car', there are LOTS
of products that never GET hot.
You have to guess RIGHT with the 'Hot, New Product'.
There is always the RISK that you guess WRONG.
And there are so many things that can DERAIL even a
product that IS Hot from ever succeeding on a cart or
Listen to what Pat Yates, owner and president of 'Happy
Feet' points out in the latest issue of the Specialty Retail
Report ( http://www.kioskexpert.com/srr.htm ):
'Sometimes people get CAUGHT UP in something new and
unproven. The new and greatest widget CAN BE risky'
He suggests doing research on products that have
PROVEN successful, and replicating THAT success!
A HOT, NEW product CAN make you money! However,
with the stakes high - your profits ARE on the line - are
you willing to accept the consequences if it's NOT the next Beanie
Baby? If so, proceed forward!
If you are first time operator, consider avoiding the 'allure'
of the 'Hot, New Product' and stick with a product that is
PROVEN to be successful.
Once you have a season 'under your belt' and have a little
experience, you will be in a much better position to evaluate
the risks associated with 'following the Siren's Song'!
May fortune be with you!
P.S. What's the best source for new AND proven products?
Specialty Retail Report magazine, of course! Click here to