Her Startup Story: 5 Epic Fails That Almost Put Me Out of Business
If you sell a physical product or want to launch a line, you’re in the right place. This week, I’m starting a new series of episodes called “Her Startup Story”.
I’m planning to dive into YOUR stories, so I figured before I do that, I’ll start with mine.
Learning how I loved to dress my Barbie dolls as a kid doesn’t sound too exciting for you – so instead I’m sharing the underbelly of my fashion business.
In today’s video + podcast, I’m going to tell you the 5 most EPIC FAILS that happened when I owned my clothing line and retail store. Each one – in its own way – pretty much almost put me out of business.
Some were my fault, some just happened — a burglar is a burglar, just sayin’…
I’ll tell you about:
- my whirlwind first year of business
- why my second Fall Season’s designs were a NIGHTMARE
- how I listened to my frustrated team and was REACTIVE rather than actually looking at the sales data
- the very, very hard way I figured out that more sales do NOT necessarily equal more profit – ouch.
You’ll definitely learn something from my epic fails. Watch the video or have a listen below.
Want to Work Together?
- If you want to launch a profitable clothing line, we have a program for new designers, called Launch a Line. It’s a step-by-step course that gives you the blueprint to a successful launch so you don’t make the same mistakes I did when you start. You get unlimited access to the course for 3 full years plus a great community of like-minded entrepreneurs.
- If you’re currently selling online and want more consistent traffic and sales, you can join The Content Club. You’ll get expert training, LIVE marketing Hotseat reviews, Study Hall, a private Facebook community, and accountability to grow your online business.
Quotes From This Episode:
- “Fall season comes around and I just whip something together as far as products — not realizing I could repeat a lot of styles that I did the first season. I thought I had to come up with everything new. I rushed it. And it was a nightmare”
- “I wasn’t looking at the real picture, which is how much money is left over at the end of the day. It took me a long time to realize that when I niched down my product offerings my sales went down BUT I actually had more money left over! So the lesson was that SALES so not equal PROFIT.”
- “I said to myself that I can’t continue this pace with a baby and the travel and do the designing and managing my own production. I had reps in five different cities. I was selling wholesale all over the world, all over the country. Really. I was like, something’s got to give.”
Perfect is good but DONE is better. I’m rooting for you 100%!
P.S. I’d love to hear from you! Do you have a great STARTUP STORY? Let me know in the comments below, OK?