Nearly seven years ago, Funlayo Alabi’s business, Shea Radiance, was thriving. And when her company got its all-natural skin and hair care products onto the shelves of Target (one of the biggest chain retail stores in the US) , she thought it was the opportunity of a lifetime.
Shea Radiance first appeared in over 300 Target locations in 2012. But rather than heralding a new chapter of growth for the business, things quickly began to go wrong. The company didn’t have investors at the time, so they were not financially equipped to handle increased demand. Several Target stores also made pricing errors, and would-be customers had difficulty finding the products on shelves, all of which resulted in a less-than impressive debut. Within months, her products were pulled.
In that moment, Alabi was faced with a choice — cut her losses and close down Shea Radiance for good, or rebuild. Ultimately, it was the commitment she’d made to the women in Africa who provide her ingredients that tipped the scales in favor of pressing onward.
Alabi enrolled in a business accelerator for six months, where she received a cash infusion and re-strategized. And she brought the business back to basics in a bid to get Shea Radiance back on track, reducing the number of products it offered and giving the packaging a makeover. Slowly, but surely, she regrew the venture.
She credits this latest bit of success to hitting upon a “perfect product-market match,” and eco-conscious customers with her new whipped shea butter products and authentic African black soaps.
The Target debacle taught Alabi the importance of opening oneself up to collaboration. To keep up with orders at her growing venture, she teamed up with like-minded makers who help keep up, even as orders pour in.
**Source: https://www.forbes.com/sites/thestoryexchange/2019/02/20/she-got-her-products-into-target-and-it-nearly-destroyed-her-business-heres-how-she-rebuilt
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