We all have that friend who’s always coming up with “the next big idea”.

They’ll tell you about, but rarely act on them – then rant about how their idea was stolen when someone else, somewhere else, has the same idea and makes it happen.

Some entrepreneurs act on their ideas, no matter how quirky. For the following 10 folks, it was a risk that paid off in a big way, and it’s proof that thinking way outside of the box can often bring in some serious cash.

Here’s BusinessInsider with more details:

For entrepreneurs, one good idea can prove extraordinarily fruitful – even if it’s as silly as something like the Snuggie.

The Slinky, for example, was born after a naval engineer made a clumsy mistake; meanwhile, the infamous Furby was crafted after its creator was introduced to Tamagotchis, and felt an overwhelming urge to pet it.

The following 10 inventions turned quirky into money in a big way:

Beanie Babies

This fad, created by Ty Warner in 1993, was huge. Everyone had at least one of these pricey little animals.

Warner’s Ty Inc. reportedly made R10 billion in one year, selling the Beanies for R71 a piece. By 1999, the company had over R14 billion in sales.

Warner made the decision to not sell the toys at nationwide chains like Toys-R-Us and Walmart, driving up the market at small, independent stores, creating a craze. Some stores even received instructions from Ty Inc. not to sell more than a certain amount to one customer. Beanies began going up on the resale market – many with five-figure asking prices.

Since their creation, Beanie Babies have raked in an estimated R85 billion for Warner.

The Million Dollar Homepage

Alex Tew had the idea for the Million Dollar Homepage when he was in college.

He would sell 1 million pixels for $1 (R14) a piece in advertising space. The profit? You guessed it.

Million Dollar Homepage “sold out” just 4 months after it went up in 2005. It all came about because Tew was interested in making money while also attending Nottingham University in England. And after the site began to gain media attention and all ad space was bought up, he dropped out and began his career as a serial entrepreneur.

Since then, he has co-founded the newly billion-dollar unicorn startup and meditation app, Calm.

Namaste.

Snuggie

It’s a blanket you can wear, created by Scott Biolen.

Since 2008, over 30 million Snuggies have been sold, raking in over $500 million.

Many people remember the silly commercials in the early aughts for Snuggies: a family at a sports game, all wrapped in blue Snuggies, surrounded by others bundled up in coats, beanies and scarves, cheering, arms raised.

This is not to be confused with the Slanket which is similar, but also different.

The Slinky

The Slinky was created by accident by Richard James and is now in the Hall of Fame, with over 350 million sold and profits reaching R42 billion.

James dropped a tension spring he was working with and watched it slink away across the floor – and thus, the Slinky was born. In reality, though, it did not happen that quickly: James spent over two years developing just how long the toy would be and experimented with different formulas to find the perfect slink-down-the-stairs toy he imagined in his head. His wife, Betty, went on to helm the Slinky business when he moved to Bolivia to join a cult. Betty died in 2009.

James died in 1974 of a heart attack.

Pet Rock

This is genius. Put a rock in a box and market it to parents who don’t want a cat or dog.

Gary Dahl, an advertising executive, was known to joke. After listening to his friends talk about the perils of taking care of a pet, he created the Pet Rock in 1975, putting nearly R85 million in his pocket.

He sold the rocks as “hassle-free” pets, complete with a pet training manual and a cardboard box fashioned after a pet carrier. The rocks were an instant hit and turned into one of the greatest fads of all time.

Gary Dahl, I salute you.

Furby

The Furby fad didn’t last long, but it lasted long enough to make R7 billion annually at its peak.

Fun fact: The National Security Agency banned Furbies from its office in 1999, according to a CBS article with the same date, saying the children’s toy was a “Chinese-manufactured spy” with the capability to listen in on conversations pertaining to intelligence.

Furbies do not have the ability to record, according to Roger Shiffman, the man who heads Tiger Electronics, which makes the toy. They are known, however, to frequently glitch – talking, walking, and vibrating without cues, sometimes in the middle of the night.

Just when you thought they couldn’t get more creepy…

Koosh Ball

My apologies for the above image.

In the 1980s, Scott Stillinger invented the Koosh Ball — a rubbery ball with colorful fibers all over it. Hasbro bought the Koosh Ball for $100 million in 1997. Time magazine named it one of the greatest toys of all time.

The Koosh Ball came out of a want to have something in between the weight of a foam ball and a bean bag, according to a 1995 article in the Los Angeles Times.

Who knew that ‘want’ existed?

Big Mouth Billy Bass

It’s basically an annoying singing fish that attained pop culture status.

Big Mouth Billy Bass, the famed talking fish known for hanging inside garages and living rooms, was created by Gemmy Industries in 2000 and went on to make millions. Though revenue was never disclosed, some reports estimate the decade’s best gag gift made R1.4million.

It took two years of tinkering for creator Joe Pellettieri to get Billy Bass just right – the moving head, the motorized tail and mouth, all in perfect harmony while singing “Don’t Worry, Be Happy” and “Take Me to the River.”

Today, you can buy an Alexa-enabled singing bass from Amazon for R472, but you shouldn’t.

Here’s more on Billy raking in the cash.

Wacky Wall Walker

We all had one of these things. It was fun until it got coated in dirt, grime and whatever else it fell on or into. Then it became the most disgusting thing on the planet.

Ken Hakuta became a millionaire in 1985 for his Wacky Wall Walker — an eight-armed, slimy toy resembling an octopus, that, when stuck to the wall, looked like it was walking as gravity pulled it down. Millions were sold.

But Hakuta didn’t come up with the idea for the toy itself. He bought the rights for the original Chinese toy his mother sent him for R1.4 million and began marketing it in the D.C. area.

Ken Hakuta’s net worth got to around R1,1 trillion from sales, so he’ll be happy with himself.

The Chia Pet

It’s a weird looking pet-shaped potplant that grows the Mexican herb chia.

Creator Joe Pedott credits the idea to his home in San Francisco and an agent at his ad firm’s butcher of the name, ultimately leading to its infamous jingle, “ch-ch-ch-Chia!” heard for years on commercials on television well into the 2010s. The toy was even included in a New York Times time capsule.

In many ways, it was the next evolution of the pet rock. Although you do have to care it for a little, so it loses some points there.

The takeaway here is that you never know how an idea is going to play out until you make it happen.

Also, don’t make it big and then join a cult.

[source:businessinsider]