Some of you may have noticed that we have been exploring different type of products on our page outside of just sneakers. Whether or not it’s the right thing to do right now is unknown, but one thing for sure is the from a business risk perspective, more diversification is usually better. I’ve always been a sneaker guy and I know the market really well as I’ve been in it for almost 2 decades now, but I can’t say the same for other markets out there. I’ve been heavy into Bearbricks for a good 15 years now and that taught me the concept that if you want to be an expert in a market/field, it takes lots of time experience in the market that money simply can’t buy. Some always asks me…which bearbrick should I buy that would hold or jump in value. Though to many this is a trivial question that can’t be answered easily… to me because I’ve been in it so long, it’s almost second nature to me without thought because I’ve seen the market ups and downs over the years. Keep in mind Bearbricks were once a commodity that no one really cared about and case in point….a lot of the KAWS Chompers below that are a super hot commodity now were selling for only $1,000 just 2-3 years ago and are now selling over $10,000! My point…well if you are only getting into bearbricks now…it might already be too late.
Though I can say I’m somewhat of a veteran in terms of sneakers and collectibles, I can’t say the same for other products. For example, the explosion of trading cards such as Pokemon and NBA cards in 2020, market prices in these markets has been skyrocketing. Though appealing from the outside looking in, I’m simply too late to insert myself into that market because there are simply too many experts in this field already taking advantage of this recent surge in the market. For me to get to their level could literally take years and by the time I do become an expert, the opportunity might have come and gone already. On this same note, this the exact reason why I want to start learning TODAY about markets I’m not very good at and slowly learning the ins and outs. Knowing where people buy and sell, know whom the big players are and understand the business aspect of retail/resell prices. I have been dipping my toes in the Dragon Ball figure collectibles as of late and it’s probably obvious as you do see some figures available on our website. I love Dragon Ball ever since a kid, but when it comes to business, I’m relatively novice. I don’t know the demand from the customers perspective…I don’t even know if there is resell advantage, but like everything in life, I can’t learn by just sitting there…I have to be invested in it to push myself to know.
At the end of the day, sneakers will always be my bread and butter, but I can’t say with 100% certainty that sneakers will continue to stay hot forever…I mean maybe they will, but as a business I can’t just sit there and pray that the market will remain good for the indefinite future. I always need to ask myself…what will I do if the sneaker market dies tomorrow? Being an expert in multiple fields allows me to be completely diversified in which if sneakers dies, other markets such as collectibles and apparel may remain hot. On the flip side, learning to be an expert in other fields gives me the upside if that market suddenly becomes hot. For example if Dragon ball collectibles suddenly become super hot tomorrow…I’m not struggling to learn about it…I’m already strong into it that I’m already well established in that market to take advantage of the demand upswing. Final takeaway is that don’t do something for the sake of money because you will burn out or lose interest in it really fast. You should do something just because you love it and if you love it enough…surprisingly enough, money will follow. Trust me on this one!