Skip to content

MuggleNet

  • Site
    • Contact Us & FAQ
    • History
    • Meet the Team
    • MuggleNet Live!
    • Press
    • Publications
    • Special Projects
    • Volunteer with Us!
    • Year in Review
  • Podcasts
    • Alohomora!
    • Full Circle
    • LITHAPPENS
    • Potterversity
    • Promptly Potter
    • SpeakBeasty
  • Harry Potter
    • Book Quotes
    • Book Series
    • Coloring Books
    • Film Companions
    • Film Series
    • Hogwarts Library
    • Little Things
    • Music
    • Video Games
  • Fantastic Beasts
    • Book
    • Coloring Books
    • Film Companions
    • Fantastic Beasts Film Quotes
    • Film Series
    • Little Things
    • Music
    • Video Games
  • The Quibbler
    • Owl Post
    • Bathilda’s Notebook
    • The Department of MYTHteries
    • The Dirigible Plum
    • Into the Floo
    • Muggle Studies
    • The Pensieve Papers
    • The Three Broomsticks
    • April Fools’
    • The Quibbler Vault
  • The Daily Prophet
    • Book Trolley
    • Editorials
    • Event Reports
    • Exclusive Interviews
    • Features
    • Giveaways
    • Listicles
    • Merchandise Reviews
    • Movie Reviews
    • Television Reviews
    • Theater Reviews
    • Wizolympics
  • Muggle World
    • Charity
    • Exhibitions
    • J.K. Rowling
    • MinaLima
    • Quadball
    • Studio Tours
    • Theatrical Play
    • Theme Parks
    • Wizarding World Digital
  • Fans & Fun
    • Crazy Caption Contest
    • Fan Focus
    • Fandom
    • Fandom Sortings
    • Fandom Timeline
    • Fun Lists
    • Games and Trivia
    • GNOMEs
    • Potter DIY
    • Potter Weddings
    • #PotterItForward
    • Rosmerta’s Recipes
    • Song Parodies
    • Wizard Rock
    • Wizarding Wordle
  • Site
    • Contact Us & FAQ
    • History
    • Meet the Team
    • MuggleNet Live!
    • Press
    • Publications
    • Special Projects
    • Volunteer with Us!
    • Year in Review
  • Podcasts
    • Alohomora!
    • Full Circle
    • LITHAPPENS
    • Potterversity
    • Promptly Potter
    • SpeakBeasty
  • Harry Potter
    • Book Quotes
    • Book Series
    • Coloring Books
    • Film Companions
    • Film Series
    • Hogwarts Library
    • Little Things
    • Music
    • Video Games
  • Fantastic Beasts
    • Book
    • Coloring Books
    • Film Companions
    • Fantastic Beasts Film Quotes
    • Film Series
    • Little Things
    • Music
    • Video Games
  • The Quibbler
    • Owl Post
    • Bathilda’s Notebook
    • The Department of MYTHteries
    • The Dirigible Plum
    • Into the Floo
    • Muggle Studies
    • The Pensieve Papers
    • The Three Broomsticks
    • April Fools’
    • The Quibbler Vault
  • The Daily Prophet
    • Book Trolley
    • Editorials
    • Event Reports
    • Exclusive Interviews
    • Features
    • Giveaways
    • Listicles
    • Merchandise Reviews
    • Movie Reviews
    • Television Reviews
    • Theater Reviews
    • Wizolympics
  • Muggle World
    • Charity
    • Exhibitions
    • J.K. Rowling
    • MinaLima
    • Quadball
    • Studio Tours
    • Theatrical Play
    • Theme Parks
    • Wizarding World Digital
  • Fans & Fun
    • Crazy Caption Contest
    • Fan Focus
    • Fandom
    • Fandom Sortings
    • Fandom Timeline
    • Fun Lists
    • Games and Trivia
    • GNOMEs
    • Potter DIY
    • Potter Weddings
    • #PotterItForward
    • Rosmerta’s Recipes
    • Song Parodies
    • Wizard Rock
    • Wizarding Wordle
  • Listicles / The Daily Prophet

Entrepreneurship 101 by Fred and George Weasley

by Pranjal Tipnis · April 3, 2021

The wizarding world is far from a business-friendly environment. Most of the adults are either employed by the Ministry of Magic or rolling around in inheritance. Then there are all the trade restrictions and a grossly underdeveloped credit system… No wonder there’s a thriving black market for the likes of Mundungus Fletcher to make a career in.

But these dismal economic conditions did not deter Fred and George Weasley. Their career trajectory sure does make for some Forbes-worthy lessons on successful entrepreneurship.

 

 

 

1. Find your niche.

Not everyone has to be a Steve Jobs (definitely a Ravenclaw, btw). The Weasley twins didn’t have some big, unheard-of idea, but what set Weasleys’ Wizard Wheezes apart was their innovations that filled the gaps in Zonko’s offerings. Often, a great business idea is simply an improvement over its past iterations.

Capitalize on your strengths, no matter how silly. Who thought troublemaking could become a lucrative source of income?

 

2. Know your market.

While finding your niche, it’s also essential to consider your consumer’s needs/wants. Your idea could be ingenious by all accounts, but what’s the point if no one cares about it? The trick is bridging the gap between what you’ve got to offer and what the customer needs.

The Weasley twins, avid pranksters themselves, were able to understand the needs of their peers and had already built their personal brand in their careers as Hogwarts’s resident pranksters. Hence, it didn’t take much for their admirers to turn into eager customers when they ventured into business. 

 

3. Show, don’t tell.

Once you have a good enough understanding of the market, get prototyping. You might need to spend out of your own pockets. Still, it’s worth the expense to get your prospective consumers and investors excited about your venture as well as to display your commitment to it. No one is handing you any gold for a mere musing.

Due to limited funds, Fred and George economized by concentrating on a small batch of sure hits, such as the trick wands that immensely amused Ludo Bagman. Bagman might’ve turned out to be a bad nut, but the twins’ talent was evident in their creation.

Start small and keep it simple.

 

4. Guard your gold.

Capital crunch is a pain that almost every entrepreneur inevitably needs to bear. While business is all about taking risks, it’s essential to carefully assess the payoffs of your gamble rather than getting enamored by a delicious deal. Resource constraint is all the more reason to scrutinize the legitimacy of every transaction.

There was no way for Fred and George to know that the Ludo Bagman deal would go sour, but their mistake was in staking their entire savings into the bet. Never put all your eggs in one basket, especially when the basket is a shady weirdo.

But the twins learned their lesson quickly. When Harry handed them his Triwizard winnings, they used every Galleon with extreme prudence, enabling them to grow their business and save enough for a shop in a prime property like Diagon Alley.

 

5. Prototype, test, and repeat.

Prototyping aims to get feedback and refine your offerings. The earlier you involve your consumers in the design process, the more likely you are to end up with a more marketable product and generate excitement amongst your customer base as a side effect.

Of course, follow proper procedures and precautions when testing hazardous products, and certainly don’t recruit unsuspecting underage candidates to test them out. That kind of gimmick only works in the wizarding world, where safety concerns are abysmally low, and the legal system is an absolute joke.

 

6. Find the wow factor.

Once you’ve caught your customers’ attention, you want to keep them coming. As your business starts showing potential, diversify and keep the market engaged. The best time to capture a market is when it is already abuzz with your arrival – strike when the iron is hot, as they say.

The Weasley twins were continuously expanding their product line. By the time Weasleys’ Wizard Wheezes had set up shop in Diagon Alley, they had an extensive catalog of cheeky products ready to go. As their business progressed, they found a larger potential for their Shield Charm products with the Ministry – something they hadn’t previously given much thought to – inspiring them to innovate in DADA products that turned out to become real money-spinners.

 

 

 

In the end, Fred and George’s story is one of hard work, perseverance, and an unwavering belief in their vision. When you believe in yourself and what you’ve got to offer, no amount of nagging from your mother can keep you down. 

 

Want more posts like this one? MuggleNet is 99% volunteer-run, and we need your help. With your monthly pledge of $1, you can interact with creators, suggest ideas for future posts, and enter exclusive swag giveaways!

Support us on Patreon

 

 

Social:

  • Next story Castium Revelio: The Wizarding World Turns to Crime
  • Previous story Potter DIY: Fanged Frisbee

MuggleNet Archive

Important Dates

August 2025

Sat, Aug 30

Educational Decree No. 22 is passed
Recurs yearly

1995

Sun, Aug 31

Hermione and Ron become prefects
Recurs yearly

1995

Hermione purchases Crookshanks
Recurs yearly

1993

September 2025

Mon, Sep 1

Harry and Ron travel to Hogwarts via Ford Anglia
Recurs yearly

1992

Harry's first ride on the Hogwarts Express
Recurs yearly

1991

Hermione receives Time-Turner
Recurs yearly

1993

MuggleNet Live! 2017: Nineteen Years Later
Recurs yearly

2017

Tue, Sep 2

Faux Moody transfigures Draco into a ferret
Recurs yearly

1994

Gregorovitch is murdered by Lord Voldemort
Recurs yearly

1997

Harry gets the Half-Blood Prince's Potions book
Recurs yearly

1996

Trio breaks into the Ministry of Magic and acquires Slytherin's locket
Recurs yearly

1997

Wed, Sep 3

Harry buries Alastor Moody's magical eye
Recurs yearly
Harry's first detention with Professor Umbridge
Recurs yearly
Lockhart lets Cornish pixies loose in class
Recurs yearly

1992

Thu, Sep 4

Ellie Darcey-Alden's birthday
Recurs yearly

Young Lily Evans

Hermione forms SPEW
Recurs yearly

1994

Moody's first DADA lesson
Recurs yearly

1994

Fri, Sep 5

Harry hears the Basilisk in the walls for the first time
Recurs yearly

1992

Ron's wand backfires as he tries to curse Malfoy; Eat Slugs!
Recurs yearly

1992

MuggleNet podcasts are sponsored in part by Secretlab.

Thanks to its research-backed ergonomic design, including a proprietary 4-way adaptive lumbar support system, the Secretlab TITAN Evo Harry Potter Edition will comfortably support you even when you’re up to no good.

Did You Know

Nearly Headless Nick died on October 31, 1492, after being hit in the neck 45 times with a blunt ax.

Potter History

June 26, 1997 – Harry Potter and the Philosopher’s Stone is published by Bloomsbury in the United Kingdom. Today, over 107 million copies of the story have been sold worldwide.

Potter Quote

“She’s been breaking into your broom shed in the garden since the age of six and taking each of your brooms out in turn when you weren’t looking.”

MuggleNet is an unofficial Harry Potter fansite.
Please email us if you have any questions or concerns.
© 1999–2025 MuggleNet.com. All rights reserved.
Privacy Policy | COPPA Policy | Terms of Use | Feedback


MuggleNet is a participant in the Amazon Services LLC Associates Program and Bookshop.org's affiliate program, affiliate advertising programs designed to provide a means for sites to earn advertising fees by advertising and linking to amazon.com and bookshop.org.