Why I Sold Out

No, I didn't compromise my values or sell my company to a corporate giant. But TorkStrap just sold out of some key inventory, and it's got me reflecting on the wild ride of entrepreneurship.

Selling out of stock might sound like a dream come true, but it's actually a double-edged sword that perfectly encapsulates the rollercoaster of building a business. Let me explain.

It all started with a rusty hook and my dad's calloused hands. I was 15, working construction with him, when a bungee cord snapped back and caught him right in the palm. For my tough-as-nails dad, it was just another day. For me, it was the seed of an idea that would take 15 years to sprout.

I found myself tinkering with my dirt bike. I was fascinated by how it stayed secure in the truck bed during transport while nothing else ever seemed to do so. The answer? Its suspension system. That's when it hit me - what if we put the suspension in the strap itself?

Fast forward to my 30th birthday, smack in the middle of the pandemic. As a working tradesman who hauled heavy equipment regularly, I realized there was a gap in the market; ratchet straps were complicated, bungee cords were dangerous, and nothing in between existed.

While everyone else was baking sourdough, I was digging out old sketches of a "Grant Strap" - a safer, easier-to-use alternative to bungees and ratchet straps. TorkStrap was born.

The journey since then has been anything but smooth:

Garage Tinkering: I started by engineering and then hand-making straps myself. After what seemed like an eternity of slow sales, selling $4,000 overnight from a viral video felt like striking gold.

Scaling Struggles (aka Reality Check): That overnight success? It nearly broke us. Late orders, inventory shortages, burnout - we learned the hard way that steady growth beats viral spikes.

Wearing All Hats: One day I'm an inventor, the next a marketer, then a customer service rep. Entrepreneurship is a crash course in "figuring it out." This goes for everyone on our team, who admirably always roll with the changing dynamics of start-up life.

Financial Whiplash: From reinvesting every penny to navigating unexpected tax bills, money management has been a wild ride and brings about new challenges every quarter.

And now, we've sold out. It's exciting, sure. But it also means potential lost sales, anxious customers, and a race to restock without overextending ourselves.

This "success" brings new challenges:

• How do we accurately forecast demand?
• Can we scale production without sacrificing quality?
• How do we keep customers happy while we restock?

Selling out isn't just about empty shelves - it's a milestone that marks our growth and the new hurdles we face. It's a reminder that in entrepreneurship, every solution brings new problems to solve.

But you know what? I wouldn't have it any other way. Each challenge has taught us resilience, adaptability, and the importance of systems over luck.

To my fellow entrepreneurs:

Have you ever "sold out"?

How did you navigate the growth that followed?

Share your experiences below - let's learn from each other's journeys!

#Entrepreneurship #GrowthChallenges #StartupLife #SoldOut