It features Los Altos in Side Hustle Spotlight Q&A, 50 of California, Sandra Oh Lynn, 50,. He is the founder and CEO KikikoA company that provides educational activities for children, which means to solve the problem through creativity and hand playing. Reactions have been edited for length and clarity.
Image Credit: Courtesy of Keeviko. Sandra Oh Lynn.
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What was your day work or primary business when you started your side hustle?
I stepped away from seven years in eBay ink, where I launched PayPal Mobile and led the eBay fashion business. Before starting Keeviko in 2011, I was working on a new fashion-related startup idea.
Where did you get inspiration for side hustle?
When my children were young, I tried to find ways for them to use their creativity and put the skills to solve their problem to work. I wanted them to grow up and feel that they could imagine and improve the world around them. As an engineer by training, I saw construction and construction through hand activities as a way of detecting, finding and building creative confidence. At the same time, I was drawing on my childhood – I have such fond memories of making and making things with my mother, while I was getting older.
Related: After college, he spent $ 800 to start a side hustle, which became a ‘monster’ business, which was $ 35 million per year: ‘I set a rapid sales target’
What were some of the first steps you take to remove your side from the ground? How much money/investment was made in launching?
I started making hands-on projects for my children. Then, I started sharing them with friends and family during Playdates. Parents and children were so enthusiastic about those activities that it gave me the confidence to take it forward. I prepared the basis to see if there was a market for the real business. Then, I took advantage of my network to start a conversation with investors. We mobilized over $ 10 million in venture funding. From there, we were able to become profitable and cash flow positive – and fund our own growth.
Image Credit: Courtesy of Keeviko
Are there any free or paid resources that have been particularly helpful for you in starting and running this business?
I had a strong background in the product design (working in R&D in Proctor and Gambal) and ecommerce (in time of Papail and eBay). Nevertheless, I had no direct experience with supply, supply chain and operation. I had a lot to learn. So I made a conscious effort to surround myself with those who were true experts. An example is Mike Smith, the COO of Walmart. He provided invaluable guidance, and also helped our operating candidates to interview our VP while we were hiring. Advisors like Mike were very helpful for us at that time.
If you can go back to your professional journey and change a process or approach, what would it be, and how do you want you to do it in a different way?
I always heard people say that when you build a company, it is very important to define and cultivate a strong culture. In this way, you can indicate and strengthen the behavior and values that align. When I was able to gract that time academically, I put it aside when I should have addressed it first. As a result, some of our recruitment was closed in the beginning, and we definitely had to correct, which was expensive. It would be helpful to keep the structure in place from the beginning.
When it comes to this specific business, you should be particularly challenging and/or surprising that people who come in this type of work should be prepared, but not the possibility?
During the epidemic, there was a sufficient supply to increase the demand for one of our most difficult challenges. In later years, we have seen our proper part of ups and downs on that front, but one thing remains continuously: the importance of strong, reliable relationships with our suppliers. They are all incredible partners through, and those collaborations have been important to help us navigate post-pandemic development with flexibility and adaptability.
Related: This mother’s creative side began as a hobby with less than $ 100 – then developed in a business in a month: ‘It’s crazy’
Can you miss a specific example when something went very wrong? How did you fix it?
I will never forget my first alpha shipment. We had only 19 boxes to send out, and it took a team of five all day and sent them to boxing. Till the end, we were tired and watching each other, There has to be a better wayIt was a wake-up call that we needed better systems and procedures, if we were going on a scale. We understood it on the way, but the moment sticks with me how far we have come.
Image Credit: Courtesy of Keeviko
How long did you take to see continuous monthly revenue?
With the membership-based membership of our main business, we have seen continuous monthly revenue from the beginning. Kiwico has been profitable and self-funded for many years. What started in my garage has developed in a company that has sent more than 50 million crates to families in more than 40 countries and produced products and activities on more than 1,500 hands. It is surprising to see how far we have come, while why we have still started, it is true for the heart: to increase creativity and confidence in children everywhere.
What does development and revenue now look like?
To date, Keeviko has produced more than $ 1 billion in lifetime revenue. This is something that I am incredibly proud of, not only because of the number, but because it represents millions of moments of creativity and discovery for children and families. Additionally, we launched Target and Barns & Noble last year as part of the construction of our wholesale channels.
Related: He spent $ 36 to start a side hustle. Now business earns 6 figures in a year-with only 1-2 hours of work in a day: ‘Freedom.’
What do you enjoy the most in running this business?
One of my favorite parts of this trip is that my children not only understand what I do for work, but also in shaping the products of Keeviko. My children were the basic source of inspiration for the company, and they remain important testers of our products to ensure that we are creating the best hand activities for children and learn about their creativity and find them and learn about the world around them.
Image Credit: Courtesy of Keeviko
What is your best piece of specific, actionable business advice?
Finding a community of founders can be so helpful. Sharing challenges and opportunities that come from creating a business with other people that are in the same boat can be so valuable. You can collect everything from tangible, actionable advice to sympathetic ears that have gone there and have done so.
It features Los Altos in Side Hustle Spotlight Q&A, 50 of California, Sandra Oh Lynn, 50,. He is the founder and CEO KikikoA company that provides educational activities for children, which means to solve the problem through creativity and hand playing. Reactions have been edited for length and clarity.
Image Credit: Courtesy of Keeviko. Sandra Oh Lynn.
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