The State of QP
It’s been too long since we gave a overall update, so here goes. Last week we packed and shipped the last of our popcorn from Batch 2. Six weeks ago the warehouse was so packed with pallets that it was hard to move around. Now it’s nearly empty. That wasn’t supposed to happen this fast.
Batch two rolled in around the middle of December. This was a big run for us, and our plan showed that with good sales, it would last us through March. Instead, we had blown through half of it in four weeks. We were thrilled…and bummed.
With our next batch arriving early March at the earliest, we have had to hit the brakes and preserve our inventory. In this industry you don’t let your retail stores down. You don’t let their shelves run dry. This meant that, again, we have had to let Amazon run out of stock. We didn’t look for any new stores. We even stopped demoing. We froze everything. That’s where we are right now.
Though it’s frustrating, selling too fast is much better than the alternative. Slowing things down has also allowed us to focus on some of the fundamentals of getting QP to the next step. For example, figuring out distribution has been, ahem, kinda complex. Kristy is unfolding that hazard laden enigma, and we will share some of our learnings in a post soon. Just as is the case with all of our partners, it’s all about relationships.
So, what have we learned from this? Figure out how much inventory you need and then double it. Plan the money you will need to get through, and then double that number too. When you are this far in, it’s all or nothing. Our next batch will arrive soon and it’s biggest yet. We are not going to let inventory slow us down again!