Well that was fast.
Raycon, the consumer-electronics company founded by singer-songwriter-turned-entrepreneur, Ray J, just hit $10 million in sales. A respectable number for any e-tailer, no doubt. This time, however, the company hit the eight-figure mark in under twelve months.
Ray J, first made a name with hit singles “You Know Me,” “Tie Me Down,” and “Talk to Me,” in an earlier career on stage rapping alongside Timbaland, Rodney Jerkins and cousin Snoop Dogg. He turned to tech, launching Raytronics — which sold scooters and smartwatches, and then Ray Con in 2017.
It appears Ray J has hit his stride. Grit Daily caught up with the businessman to get a deeper look in what drove that growth — and what could be next.
GD: You’re at the $10 million mark in sales a year out. How does that feel?
RJ: It feels amazing and we’re so proud of how far we’ve come in such a short amount of time. I knew that the company would do well because I believe so much in the products but, I have to say that the success has been overwhelming so far. We have a great team assembled and we get things done. Our customers are happy so we’re happy.
GD: Before you partnered with Cowboy Wholesale you had a few up and downs. Would you start “from the ground up” again for the experience or would you call that a “mistake?”
RJ: I think everything happens for a reason and I needed to have the learning experiences that I did in order to be where I am now. In the past, I had the marketing knowhow to get people to talk about my products, but I didn’t have the infrastructure or logistics to fulfill the demand properly. Now, I have the best of both worlds with my partnership with Cowboy. I would definitely do it all again because that experience is what led me to success today.
GD: Is an “exit” on your radar? Why or why not?
RJ: No, I can’t even imagine an exit at this point because I’m the kind of person that can’t slow down even when the business is doing well. I keep going at the same pace or faster speed because there is no limit to success. Right now, I’m focusing on the long term. Of course, we never say no to offers right off the bat, but I’m never going to sell my business idea before it has come to fruition. We’ve got a big vision here at Raycon, so we’ve still got a lot of work to do!
GD: Product diversity looks to be one way you’ve “derisked” your company. But how many SKUs can consumers expect?
RJ: We like to focus on quality more than quantity and streamlining our offerings has allowed us to do that. We’re focusing on true wireless technology and our goal is to continue to grow and succeed within this very in-demand niche.
GD: What are some of the product categories you’ll attack next?
RJ: The best is still to come because we have been keeping new products under wraps for a long time. It’ll be a surprise, but it’s all mainly under the umbrella of wireless audio because that’s what has been working so well for us now. At some point in the future we may look at expanding beyond this category, but for now, we just want to continue building on the momentum that we have in this area.
GD: For your products, how do Europe and Asian markets look relative to the US?
RJ: We’re Raycon Global and that’s what we really strive to be. Looking at the big picture, of course there are a lot of wireless tech brands out there – and more to come. But we believe we’ve got an edge over competitors, both here and abroad, because of our advanced technology, accessible prices, integration with music, and more.
Jordan French is the Executive Editor of Grit Daily. An award-winning journalist, he is on the editorial staff at TheStreet.com and a Fast 50 and Inc. 500-ranked entrepreneur.
He is the founder of Notability Partners and the co-founder of BNB Shield, Lisbon Hill Farms, Status Labs, BeeHex, BlockTelegraph, and Grit Daily. A biomedical engineer and intellectual-property attorney, French is the author of upcoming book, The Gritty Entrepreneur.