An Organizational Expert Took a Risk with a Product Extension, and It Paid Off Big
It's not often a service-based business will start to offer tangible products for sale, but for Justin Klosky, it was a risk he was willing to take.
In 2008, Klosky founded the Los Angeles, Calif.-based O.C.D. Experience, a national organizational consulting firm. Since then, he's gone on to make TV appearances on Today Show and Good Morning America, and has worked with high-profile clients like the Osbournes, Topher Grace and Bryce Dallas Howard. He's even worked with top businesses including PricewaterhouseCoopers, Mattel, Saks Fifth Avenue and many others.
Adding to his list of accomplishments, he's also a published author of the highly-rated book Organize and Create Discipline: An A-to-Z Guide to an Organized Existence, and is the creator of the O.C.D. RFID Wallet – a product extension he says was one of the riskiest business decisions he's made to date.
Klosky will be appearing on a panel at the upcoming 2016 Entrepreneur 360™ Conference, happening on November 16 in sunny Long Beach, Calif. Learn more about the organizational expert's business experiences and advice for other entrepreneurs in the short Q&A below.
The following interview was lightly edited for brevity and clarity.
Why do you do what you do?
Klosky: To survive. I also do what I do because I love creation. I learned right away that a lot of the things that I have taken part in and have developed help people. Life is very short, so when you help others there’s really nothing more gratifying.
How has the closest person in your life inspired you and your business?
Klosky: I have been very fortunate to have many people close in my life inspire and continue to inspire me in all of my business ventures. The biggest thing is having people help you overcome those moments when you feel like nothing can go right. I also have a lot of very successful people around me who inspire me to be better versions of myself every day and remind me that nothing is impossible.
What has been the most difficult part of growing your business?
Klosky: The unknown. And then getting comfortable in the unknown becomes easier. Businesses have ups and downs so when you have that wave, catch it and ride it all the way in because you’re going to have to swim back out eventually to catch the next.
What’s the riskiest move you’ve taken in your business? Any lessons learned?
Klosky: The riskiest move was starting a division of my business that's product-related. Learning the manufacturing business was very scary due to the language barrier, the overseas transport of goods and exchange of money. Spending hundreds of thousands of dollars on a product that you may not receive is risky at first, but once the process becomes clear and relationships and trust start to form, the sky is the limit.
What milestone are you most proud of?
Klosky: A few key milestones that I’m proud of: having my first book published, getting my first design patent, hitting my 20,000 units sold mark on my O.C.D. RFID Wallets, and getting out of bed on the days where life just doesn’t want to work for you.
When do you know to say “no” to something? Yes?
Klosky: These days saying "no" is a powerful thing. Holding your ground and understanding your value is a key part of running a successful business. It’s not always easy to say "no" but sometimes it can save you a lot of time, energy, hassle and money if you just trust your instincts.
You know when it's time to say "yes." It’s taken me a little while not be so impulsive. I think I still am a little bit. When you want to say yes, let it simmer first and then say "yes" just a little later after that impulse has gone.
How do you keep yourself and your employees open to new ideas?
Klosky: Create a place of safety, with no judgments. Always ask opinions and give credit when it’s due. This will allow your business to always flourish regardless of how successful those ideas may be.
Interested in applying for the 2017 Entrepreneur 360™ List? Click Here.