Earlier this month, Karol and Thomas and I vacationed at our favorite vacation spot: Cape Cod.
While there, Thomas and I bought our first pairs of Crocs. They’re wonderful shoes for casual wear. The woman who sold them to us told us about something that we’d never before heard of: Jibbitz. Jibbitz are little decorations that fit into any one of the many holes featured on each pair of Crocs. These tiny items are mostly ornamental — allowing each Croc wearer to express his or her individuality — but they also are functional, for they can help to identify one pair of Crocs from another.
(Neither Thomas nor I wanted any Jibbitz, by the way.)
The fascinating thing about Jibbitz, though, is that the inventor turned this idea into a business that he and his wife sold for $20 million. What a wonderful outcome!
Note that this invention isn’t high-tech — it’s about as simple as simple can be. Yet it is indeed something that enough consumers choose to buy at prices that make the product profitable to produce.
Jibbitz — another few drops of prosperity in our vast Prosperity Pool.