In 2014, I came across a YouTube video by a company called, the “Dollar Shave Club“.
A guy was advertising a shaving stick which he said was on sale for $1.
Now I don’t use shaving sticks because I dread having bumps on my jaws and all, so I shave anytime I go to cut my hair with a regular clipper. (now you have the secret why my jaw is smooth, hehehehe).
Anyways after watching that video, I wanted to buy that shaving stick. The dude was hilarious. See for yourself here:
The guy, Michael Dubin, said he got the idea because he got fed up with spending too much for a razor and having to go out to a shop to buy a new one each time he needed it.
So he came up with the idea of selling cheap shaving sticks on a subscription model. Each month you had it sent to you automatically and they would bill your card.
2 days ago, Unilever, yes the same guys who make your “Close Up” toothpaste bought the Dollar Shave Club for $1 Billion dollars in cash. Yes, that’s BILLION with a B.
Not too shabby for an ideas that popped into your brain for free.
P.S. Yesterday, I spoke at a seminar tagged “Social Selling Seminar” and I said “What you want to sell ideally is a superior version of a digital product, physical product or rendered service that is already selling well, with superior advertising.”
Micheal took an old concept – shaving sticks – made it cheap, made it pain free to pay for, made it automatic to buy, and today, after 4 years, it’s value is at $1 Billion.
What billion-naira idea, hobby, expertise or knowledge do you have lurking inside that smart brain of yours?
Think about it.