E253: Getting a Business Back on Track after Running Out of Stock

Many successful ecommerce businesses are born out of necessity. And some of the most successful ecommerce entrepreneurs are selling products that they’re truly passionate about.

A Business Born of Necessity

Eight years ago, Jason Hsieh’s son Keanu was diagnosed with autism. Living in Japan at the time, Jason struggled to find support services and products for him. So the family moved to Seattle. In 2017, Jason himself would start developing products that would help children diagnosed with autism and ADHD. Today, his company LakiKid sells three physical product lines -  each addressing different areas where kids with autism and ADHD can benefit from the most.

The Struggle to Get Back on Track

Sales have been going fairly well for LakiKid until the end of 2018. A supply chain issue caused two of its best-selling SKUs to run out of stock right before Christmas. From averaging close to $50,000 in monthly sales, the business has been struggling to get back on track.

At present, LakiKid is over 90 percent Amazon but Jason has been exploring marketing avenues off of the platform to gain back the momentum that was lost. These efforts include a Shopify store, a blog, and hosting a weekly live talk show on Facebook.

Listen as I navigate this niche business with this passionate dad and entrepreneur and offer insights on how LakiKid can get the groove back, get more exposure and have those sales figures pick up.

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