Halloween is the spookiest time of the year, so we thought what better to do than share a chilling, spine-tingling tale of failure from one of our past speakers? Cue the Vincent Price voice over.
A couple summers ago, Jen Butson decided she wanted to start an online store. “I lived in a condo, so I didn’t want to deal with inventory. Had no desire to deal with it at all, so I looked into drop shipping.” She did her research, and searched for a long time to find a supplier, but finally settled on a product – Halloween costumes.
“This should have been great. Sure, there’s a ton of competition online, but I felt like if I just peeked through the search results even a little bit, I could build off that.” She spent days sorting through 20,000 SKUs, but finally got her store up and running.
Pretty soon, sales started coming in, and she started passing them off to her supplier. However, the sales were for a handful of super popular costumes that her supplier had sold out of quickly. “The thing I learned pretty quickly was that when seasonal goods sell out, they’re gone until next year. I couldn’t get any stock for my orders, and I ended up refunding every single order that I had come in. I closed down the store soon after.”
Spooky! Happy Halloween all, and remember, if you don’t want to be haunted by the ghosts of failures future, come on out to one our events 🎃