| 2 minutes read

2 minutes read

Tesla Founder Elon Musk Has Raised $1 Million By Selling Hats With A Simple Marketing Idea

| Published on January 2, 2018

Entrepreneur Elon Musk has sold hats worth $1 million in a very short time by following a very simple marketing idea. Having sold out an entire line of 50,000 hats in just over a month, he has proved that he can be successful in things other than making futuristic cars and launching space programmes.


The idea of starting a new entity came into Musk’s mind in December 2016 when he was stuck in traffic in gridlock on a Los Angeles freeway. “Traffic is driving me nuts. Am going to build a tunnel boring machine and just start digging…” he wrote on Twitter

The aim of opening ‘The Boring Company’ was to connect the subterranean parts of Los Angeles via the tunnel system. Along with this, he wanted to sell a bunch of hats. While the main task is yet to complete Musk has succeeded by selling more hats than he expected.

Musk launched the branded baseball cap back in March 2017 and the company was able to sell only 4,000 hats until October.

The sales were normal before Elon announced that the company will only produce 50,000 units of hats. The next update from Elon on this came after few days when the company had sold 30,000 hats.

Just after few minutes, he revealed that the company will start selling The Boring Company flamethrower after 50k sales of the hat.

And as expected, the remaining 20,000 hats were sold very quickly.

The price of one such plain black cap is $20. In this way, the Boring Company, with the simple white logo of Musk’s tunneling firm, has raised $1million for the venture.

With this, Elon has given a great lesson for marketers that if something is sold by following the basics of marketing one can still achieve success in this ever-changing world.

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