Misfit Entrepreneur May 2024 - 403: Socks, Smiles, and the Entrepreneurial Spirit; The John's Crazy Socks Story

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Dave Lukas Chats with John and Mark Cronin

403: Socks, Smiles, and the Entrepreneurial Spirit; The John's Crazy Socks Story

This week’s Misfit Entrepreneurs are John and Mark Cronin. They are the father-son team that created John’s Crazy Socks, a social enterprise with a mission to spread happiness. They bootstrapped their business into the world’s largest sock store with multi-million dollar revenues and have been named EY’s Entrepreneurs of the Year as well as multiple 30 under 30 awards.

John is not only a business owner, but he has Down syndrome. John and Mark show what people with differing abilities can do – more than half of their colleagues have differing abilities. They have testified twice before the U.S. Congress and spoken at the United Nations. They are sought after keynote speakers, have recorded two TEDx Talks and are frequent guests on network television including appearances on CBS Evening News, Good Morning America, the Today Show, Fox and Friends, CNBC, PBS, the BBC and others. And they show their gratitude through their Giving Back program that has raised over $650,000 for their charity partners.

John and Mark show us that anything is possible if you if you are determined enough and I’m excited to discuss their journey of building a 7-figure company along with the many other lessons we can learn from them.

https://johnscrazysocks.com/

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Show Notes

The company was born in suburban Long Island in 2016. John was faced with limited post-school opportunities due to Down syndrome and decided he wanted to create a job rather than settling for the unsatisfactory options available. Naturally, Mark was motivated to help John achieve his entrepreneurial dreams, leading to the creation of their business together.

How did John's Crazy Socks transform from an idea to the world's largest sock store?

It began with John’s long-time love for colorful, unique socks.
They took a lean startup approach working out of their home: quick setup, basic website, using social media for marketing.
John personally delivered the first orders, which created a memorable customer experience and fostered loyalty and grew them by word of mouth.

What unique challenges did you face in the early stages of your business?

Initially, they didn’t know what would happen, but after John delivered the first round of socks, there was an unexpected surge in orders from viral marketing campaigns showing him online. It tested their capacity to fulfill orders effectively and caused issues that they had to innovate the overcome.
Understanding and adapting to demand and the seasonal nature of the business was another big challenge. They quickly learned to scale their operations by securing a warehouse and improving their inventory management.
A huge majority of their sales come in the back half of the year and initially, they had challenges with revenue management because of the slow seasons.
Nowadays, they have built their business to thrive around these times, but they almost went out of business.

Can you share how your social mission intertwines with your business model?

The business model combines profitability with a social mission—spreading happiness and creating job opportunities for people with differing abilities.
The business gives back through donations and community service, reinforcing their commitment to social causes.
They also employ many people with differing abilities helping to make a difference in their lives and helping give them an outlet to show their talents and use them.

What pivotal moments significantly impacted your business growth?

Media features and viral videos significantly boosted their profile, leading to massive spikes in sales. Go watch a video of John and you’ll understand why he and the business caught on!
Finding the right supplier partners. They went through several and finally found a family-owned manufacturing business that provided them with the resources needed to stabilize and grow their operations.

How did the pandemic affect your business, and how did you adapt?

There were a lot of challenges. The pandemic led to canceled events and reduced sales, impacting their primary revenue streams.
They had pivot and they shifted to online activities, including virtual tours and speaking engagements, and created themed products to maintain engagement and support their community.
John event started a weekly “Dance party” online to bring joy and fun to a dreary time. This continued to grow their footprint as the videos caught on.

What has been your approach to creating a strong customer connection?

John and Mark are big on personal touches. Every order includes a handwritten note from John, custom packaging, and a thank you candy, making each delivery special.
They also customize packages based on the customer’s order history and preferences, enhancing the personal connection.
It is the little details, the small things that add up to a big difference and great customer experience.

What advice do you have for entrepreneurs looking to carve a niche in their market?

Understand the deeper purpose of your business and let that mission guide your decisions and customer interactions.
Go out of your way to create genuine connections with customers rather than merely completing transactions. Remember, the little things can make a big difference.

Best Quote

I wore crazy socks my entire life. They are fun, colorful and creative. They let me be me...

Make a Difference: Even small businesses can have a significant impact. Leverage your resources to positively influence your community and beyond.

Believe in Yourself: Find your unique path and pursue it courageously. Don’t be afraid to stand out and stay true to your values.

Spread Love and Gratitude: John’s Crazy Socks’ mission is to spread happiness. Find your mission and live into it.

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