Insights from a Legendary Toy Designer: Eddy Goldfarb's Wisdom
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Chapter 1: Who is Eddy Goldfarb?
Eddy Goldfarb, at the remarkable age of 102, is arguably the most accomplished living designer of toys and games. With a career spanning more than seven decades, he has crafted over 800 toys and holds around 300 patents. He attributes his longevity to his unwavering curiosity and creativity. "Creating something from nothing energizes both the mind and body," he asserts.
Maintain Your Curiosity and Creativity
Initially aspiring to be a physicist in the 1920s, Eddy faced financial hurdles that led him to serve in the Navy on a submarine. During this time, he conceived the idea of designing affordable toys and diligently recorded his concepts. By calculating that selling a million units could yield substantial profits, he found a way to entertain families while also succeeding financially.
Play to Your Strengths
His first major success came in 1949 with the well-known chattering teeth toy, Yakity Yak. Despite selling millions of units, he only earned $900 from the rights. This experience taught him a crucial lesson about retaining royalty rights for his future inventions.
Own Your Ideas and Learn from Mistakes
At the peak of his career, Eddy owned three buildings and employed 39 staff members. He was so prolific in his creations that he rarely had the chance to play with his own toys. Instead, he entrusted family and friends with his ideas, ensuring they kept them confidential until launch.
Keep Your Ideas Under Wraps
Eddy's philosophy for life? "Being optimistic is essential, but you must also embrace rejection." He emphasizes that the next idea you come up with could be the next big sensation.
Take a cue from Eddy Goldfarb, the mastermind behind KerPlunk, Battle Tops, Giant Bubble Gun, and Chutes Away; he certainly knows what he's talking about.
The Six Key Takeaways:
- Cultivate your curiosity and creativity.
- Focus on your strengths.
- Retain ownership of your ideas.
- Learn from your missteps.
- Keep your plans confidential until you’re ready.
- Maintain optimism and accept rejection.
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Chapter 2: Valuable Video Insights on Toy Design
To dive deeper into the toy industry, check out the following videos:
This first video, "Do You Want To Be In The Toy Industry? Watch This!", offers a compelling overview of what it takes to enter and thrive in the toy business.
In the second video, "How To Become A Toy Designer And Make 6 Figures", you’ll discover strategies and tips that can lead to a lucrative career in toy design.