Expanding an International Business
How the Impact Lab helped this retailer find consistency while growing the business
From their first product launch — a durable, weather-resistant longboard — to their current clothing and footwear offerings, The Rad Black Kids has always wanted to share a powerful story through high-quality products.
Founder Thulani Ngazimbi comes from a diverse background in product development and sales. Currently based in Portugal, Thulani wanted to expand his business in both the US and European markets, but the currency exchange was causing him to run into some issues.
The challenge
When Thulani started working with us, he brought several challenges he wanted to address. Due to the products-based nature of his business, revenue could have been more balanced, making it difficult to forecast his finances accurately. He wanted to address this "feast or famine" cycle and level out seasonal fluctuations as much as possible.
Accounting was also more complex since he worked with euros and US dollars, and he needed help managing tax implications since he sells in the US while living abroad.
Additionally, Thulani needed guidance on optimizing his inventory management and exploring the possibility of a physical retail shop.
Where mission edge came in
We paired Thulani with a financial expert to guide him while addressing Thulani's challenges.
They discussed strategies to manage the feast or famine cycle and explored upcoming sales opportunities. Our experts also helped Thulani break down the accounting software used in Portugal while navigating tax considerations. Finally, they provided resources for Thulani's upcoming trips to Paris and Las Vegas and worked with him on inventory tracking and forecasting strategies.
The solution
After working with the Impact Lab here at Mission Edge, Thulani gained insights into making more consistent income by making the most of upcoming trade shows.
He also explored the possibility of a local retail shop, received resources for his trips to Paris and Las Vegas, worked on inventory management and forecasting, and improved his website's conversion rate.
You can see results, too
If you've ever looked into expanding your small business internationally, you know that the process can come with some massive headaches.
If, like Thulani, you're ready to seek guidance and come away with . . .
More consistent revenue
Better inventory management
Help navigating the world of international retail
. . . our program might be a great fit for you.
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