That Will Never Work #5: Walmart or Bust
Mar 16, 2021
Katie Gellhausen, inventor and founder of Socket Locket, shares her journey from a hesitant product pitch to securing a major Walmart order. Hear about the unique dual function of her phone accessory, her struggles with early sales during COVID, and the thrilling moment she pitched at Walmart's open call. Marc offers insights on scaling production, balancing U.S. manufacturing with international options, and navigating the risks of relying on a single customer. Plus, Katie discusses the unique dynamics of co-founding her business with her mom.
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College Idea To First Prototype
- Katie invented Socket Locket in college after noticing classmates used either a card holder or a phone grip but never both.
- She sketched prototypes, worked with a local engineering shop, and launched sales soon after.
From Traction To COVID Collapse
- Katie had sold roughly $150,000 and 30,000 units before COVID, with momentum from promotional conventions.
- COVID collapsed that channel, leaving revenue near zero until a Walmart open-call invitation revived the business.
Walmart Yes In One Pitch
- Katie pitched at Walmart's open call and buyers cut her off to say yes and request placement by April.
- The acceptance surprised her because she expected a limited test and long lead times.