The side histories spotlight questions and answers include Los Ultos, 50 -year -old California Sandra Oh Lin. They are founder and CEO IvekoA company that provides educational activities for children that aims to give rise to creativity and solve the problem through hand -on game. Answers of length and explanation. Amendments have been made.
Image Credit: Courtesy Keico. Sandra Oh Lin.
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What was your day job or basic profession when you started your side histl?
I had just stepped in for seven years in the eBay Inc., where I launched PayPal Mobile and led the e -fashion business. Before I launched Kyiko in 2011, I was working on a new fashion -based startup idea.
Where did you get the inspiration for the side hustle?
When my kids were young, I tried to find ways to use their creativity and work skills to solve their problems. I wanted to grow up and feel that they could imagine and improve the world around them. As an engineer by training, I saw and created through hand -on activities as a way of discovering, discovering and creating creative confidence. At the same time, I was pulling my own childhood – as I was growing up, I have so many memories of making and making things with my mother.
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Did you take some first steps to get your team off the ground? How much money/investment did it get at its inception?
I started with hand on projects for my children. Then, I started sharing them with friends and family during the play date. Parents and children were so excited about these activities that he gave me confidence to take more. I laid the foundation to see if there was a market for real business or not. After that, I took advantage of my network to start a conversation with investors. We collected more than 10 million millions in the Venture Fund. From there, we succeeded in becoming profitable and cash flow – and funding our development.
Image Credit: Courtesy Kyiko
Are there any free or paid resources that have been particularly helpful for you to start and run this business?
I had a strong background in the product design (working in R&D in the Proctor & Gamble) and e -commerce (from PayPal and E Bay time). Nevertheless, I did not have a direct experience with completion, supply chain and work. I had a lot to learn. So I consciously tried to surround myself with those who were true experts. An example of this is Mike Smith, who was the COO of Walmart. He provided invaluable guidance, and when we were hiring, he also helped our VP operations interviews. Advisors like Mike were so helpful for us at that time.
If you can go back to your business journey and change a process or approach, what will happen, and do you wish you to perform it differently?
I have always heard people say that when you make a company, it is very important to explain and cultivate a strong culture. In this way, you can identify and strengthen the behavior and values ​​that are alignment. While I was able to penetrate it in this way, I put it aside when I should have addressed it first. As a result, some of our jobs were closed at the beginning, and we had to correct, which was expensive. It would be helpful to keep the framework in place from the beginning.
When it comes to this particular business, what is the thing you are particularly challenging and/or surprising that those who come to this kind of work should be ready for, but are unlikely?
During pandemic diseases, one of our most difficult challenges was to source enough to maintain increased demand. In the years after that, we have seen a fair part of the ups and downs on this front, but one thing has been permanent: the importance of a strong, reliable relationship with our suppliers. They have been an incredible partner through all this, and this cooperation is key to helping us navigate post -postponement with flexibility and adaptation.
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Can you miss a particular example when you go wrong? How did you do it right?
I will never forget my first alpha shipment. There were only 19 crates to send us, and one of the five teams took them boxed and sent them all day. Finally, we were tired and looking like each other, Must have a better way. It was a wake -up call that if we are going on a scale, we need better system and process for completion. We found it on the way, but at that moment, as a reminder, it sticks to me to what extent we have come.
Image Credit: Courtesy Kyiko
How long did you take you to see permanent monthly income?
With our basic business subscription, we have seen a monthly income from the beginning. Kyiko has now been providing profitable and self -financing for many years. What started in my garage has become a company that has sent more than 50 million Crete families in more than 40 countries and has created more than 1,500 hand -on products and activities. It is strange to see how far we have come, while keeping on the heart of why we started: to give birth to creativity and confidence in children everywhere.
How does the growth and tax now look?
To date, Kyiko has earned more than 1 billion billion in a lifetime income. This is something I am incredibly proud of, not only because of it, but because it represents millions of moments for creativity and discovery for children and families. In addition, we launched the target and Barnes and Noble last year as part of the construction of our wholesale channels.
Related: He spent $ 36 to start the side stir. Now this business gets 6 figures a year-with just 1-2 hours of work in a day: ‘Freedom.’
What do you enjoy 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 to help the Cyico products. My kids were the real source of inspiration for the company, and they continue to be a critical tester of our products to ensure that we are creating excellent activities to discover and search for children our creativity and when they learn about the world around them.
Image Credit: Courtesy Kyiko
What is the best piece of your specific, viable business advice?
Finding a group of founders can be so helpful. It can be so valuable to share the challenges and opportunities coming up with others in the same boat. You can collect everything from solid, viable advice to sympathetic ears that are there and have done it.
The side histories spotlight questions and answers include Los Ultos, 50 -year -old California Sandra Oh Lin. They are founder and CEO IvekoA company that provides educational activities for children that aims to give rise to creativity and solve the problem through hand -on game. Answers of length and explanation. Amendments have been made.
Image Credit: Courtesy Keico. Sandra Oh Lin.
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