A Lesson from Hot Wheels - What is your “added play value”?

I’m a grown man, and I play with Hot Wheels. There. I said it. With just under a thousand cars in my own collection, I've been hoarding these little gems since they were first introduced in 1968 (I was nine then…do the math). I can’t help it – they’re just that cool. There’s the racing, the collecting, bragging rights, forums to talk about them, Ebay….need I say more?

And it’s not just me – there are millions just like me worldwide. So what is it that makes these cars so desirable to so many for so long? 

At the time, Matchbox cars from Lesney Products were the premiere collectible car – they were 1:75 scale, easy to play with, original, and many of the cars had moving parts or accessories. Their operative word was authentic. They looked like the real thing. To become a major player in the die cast car market, the creators of Hot Wheels had to come up with a powerful alternative to compete. They started by asking one question – from a child’s perspective, how can they add extra play value to their cars?

While Matchbox cars were fun and authentic, they were anything but fast. Hot Wheels built their cars as being “the fastest metal cars in the world!” They found the one thing that all other collectibles were not – racing fast. But being fast wasn’t enough – they looked for other play value that included Spectraflame paint colors, fantasy car and hot rod designs, mag wheels, and cool California Customs. Some cars had moving parts, some had accessories, and all were fast. The realm of possibilities for design concepts, applications, and accessories were now endless.  

Today, Hot Wheels proclaim being “the hottest cars in the world”, surviving all comers. Eventually Mattel, the makers of Hot Wheels, purchased Matchbox.

So what are the lessons we can learn from Hot Wheels and how can we apply them? Here are a few I came up with:

Hot Wheels is a simple and compelling brand. They asked questions from their target audiences’ perspective, and created a brand that would encompass what their audience desired.

Hot Wheels constantly evolve and remain relevant. By staying in tune with its audience, Hot Wheels not only follows trends, it creates them. They define what is cool and desirable to multiple market segments. They remain “in-touch”, allowing themselves to be reached and interacted with. With the advent of the internet, Hot Wheels created a child safe environment in which one can play with their cars on-line and hold virtual races.

Hot Wheels are innovative. Their patented axle and wheel system may have launched them, but they didn't stop there. Hot Wheels are always experimenting with themes cars, paint styles, wheel designs, new accessories, track layouts, and equally collectible non-car merchandise. Only the Hot Wheels brand carrying case was good enough for my cars, and I had to have the Hot Wheels lunch box (preferably the one with my cars on it!). As early adopters grew up (namely me and those like me), Hot Wheels created cars and collectible themes that still catch my attention.

Hot Wheels remain authentic. From the beginning Hot Wheels mimicked real cars (i.e. The Beatnik Bandit), but that’s not what I mean. Hot Wheels are authentic to themselves and to their customers and audience. They sponsor forums to collect feedback. They sponsor collector clubs for kids and adults. They hold conventions. But more than this, they remain authentic to the brand.

They consistently provide added “Play Value”. Whether it’s a moving part, an attachment, a collector button, or a race track, not one car leaves the store shelf without some added play value to go along with it. It may not be obvious to the nine year old, but they instinctively know it when they see it! Every customer does.

On the surface these may be simple to understand, but it takes time and effort to create a winning combination. Ask yourself these questions in the following order:

• How do I provide "added play value"?
• Am I innovative? How?
• Am I evolving and remaining relevant?
• Am I authentic?
• What is my simple and compelling brand?

Question: What is your added play value?

Thank you for taking the time to read this post. I’d like to know what you think. Feel free to let me know in the comments section below.

Creating a Personal Plan for Growth

In John Maxwell’s Leadership Wired news letter earlier this week, he talks about things to consider when creating a plan to grow. Making growth an intentional event is something I have incorporated in my own life for a very long time. John makes the comment that without a plan, you’re growing nowhere.

Growth, I might add, is not a single event. It is a process of progressive development – good or bad. Growth and Change go hand in hand. While it is very popular to brand one’s self as a “change agent”, it’s important to qualify this in terms of positive growth. Linking the two with positive results adds value not only to you, but to your organization or team.

John also points out that growth is not a happy accident or an automatic process. He states, “if you want to guarantee growth, then you need a plan – something strategic, specific, and scheduled.” 

Here are some of his suggestions for creating a simple plan for intentional growth:

1. Set aside time to grow. All the great thinkers in the areas of leadership and time management will tell you that the secret to your success in anything will start with your daily agenda. You will never change your life until you change what you do daily.
2. Identify your areas of growth. Start with your strengths and consider expanding their boundaries. Success comes when we identify our natural talents, and then work diligently to develop them into extraordinary skills.
3. Find resources in your area of growth. Be hungry for insights and knowledge and develop a system for storing it up for eventual use.
4. Apply what you have learned. Look for opportunities to apply what you have learned and exercise your skills. One method is to share what you have learned with some else within 24 hours. 

As John states, growth is a great separator of those who succeed and those who don’t. To further help in creating a growth plan, consider asking yourself these questions:

When are you growing?

In which areas are you growing?

Who is helping you to grow?

How are you applying what you have learned?

Question: Do you have a solid answer to each of these questions?

Thank you for taking the time to read this post. I’d like to know what you think. Feel free to let me know in the comments section below.