In the American gold rush, the people making the most money weren’t the ones panning for gold – they were the hardware retailers, selling picks, shovels and other tools that prospectors would need in what was usually a fruitless search. I’m not sure whether eBay could be classed as a modern day gold rush, but it does provide evidence that not much changes.
In 11 years of selling bubble wrap on eBay, Bubblefast has supplied over 3,000 square miles of the stuff and generated over £1 Million in revenues. The company also sells boxes and packing chips/peanuts and is run by a husband and wife team without staff. Can you see the parallel with the goldrush shovel sellers here? They are selling the ‘tools’ which people need to go about the business of making some money.
Give some thought to this? What ‘shovels’ or ‘bubblewrap’ could you sell? The exciting thing with this is that your profits aren’t dependent on striking lucky. But those hoping to do so, need your product to go about their business.