Weekly Update - Our Pivot Foot
I spend a lot of time talking to young entrepreneurs about their hopes and dreams. I enjoy playing the devil's advocate in our conversations about their ideas not because I want to be hurtful, but I wish I would have sought out such an experience for myself.
At our core, Free Radical Labs is really about helping individuals grow. The electronics side of the house is a means to that end, but it hasn't always been about that. Normally people don't want to talk about pivoting, but its a choice (or decision rather) that everyone has to face. Business is about growing or dying, you cannot be doing both.
We will always do our workshops with the kids. Electronics and coding a great way to show children their potential and gives them access to possibilities bound only by their imaginations. While we wanted this to be our flagship enterprise, the market simply has other ideas.
Over the remainder of the year, we will be slashing prices as much as we can to help us clear inventory. We will still carry kits from major names, but we are moving away from components. Its what we have to do to remain competitive (read: alive) on this side of the house.