‘Balloon Boy’: What Entrepreneurs can Learn from this Story

One October day, the "Balloon Boy" story captivated the nation and, not even a week later, an entrepreneurial opportunist decided to seize the moment.

A Canadian vendor is selling a "Balloon Boy" Halloween costume.  Apparently an immediate selling rage, the costume was created for wannabe pranksters. It is being sold as the "Balloon Boy Hoax Kit."

After learning more about this young boy’s parents and their history, it struck me. If nothing else, this father wanted to be one cutting-edge, world-famous entrepreneur himself.

In the end, though, the Balloon Boy’s father flopped in grand style.

In short, the buying public will always find snake-oil salesmen very distasteful. Not only that, this man was careless and took dangerous risks. He risked the welfare of his family and the general public’s good will.

If merely looking to achieve a few days of fame, that he did. You’ve got to give him this though: He was very much aware of the power of brand marketing and how a brand concept can go viral (and south) at recordbreaking speed.

So, while his marketing campaign turned out to be powerful enough to close down Denver’s international airport for a few hours, in the end, his brand was filled with more hot air than that helium-filled balloon.

In short:

1. Did this boy’s father gain fame? Yes, he is now known around the world.

2. Did he gain fortune? Not hardly; in fact, quite the opposite. In addition to creating national distress, he and his scheme cost taxpayers an estimated $2 million. And, he could end up facing prison time and a $500,000 fine.

So, given all this, I started thinking: What can we learn or gain from this spectacle?

1. Effective marketing touches the emotions of people—and it’s important to keep in mind that once you win hearts, you also have to earn and keep the trust.

2. Effective marketing doesn’t have to cost a fortune—but what matters most is that you are marketing something of value and/or meeting needs and solving problems. It should be all about them, not you!

3. Effective marketing is more than achieving one big traffic spike—it’s more about substance, so to keep consumer traffic growing exponentially, it’s important to remember: As they say, "Content is king."

Entrepreneurs, big ideas and risks go together and make our country great. And this Balloon Boy episode has served to remind us that entrepreneurial dreams are better achieved when professional HR/marketing principles and strategies are followed.  

As David Ogilvy (known as the "father of advertising") once said, "What really decides consumers to buy or not to buy is the content of your advertising, not its form."

 Related reading:

Entrepreneurial Opportunities

Energize Entrepreneurial Thinking

Entrepreneurs Turn Big Ideas into Small Business Opportunities

"What really decides consumers to buy or not to buy is the content of your advertising, not its form."