I just read The Compound Effect by Darren Hardy – for the second time.
You know you love a book when you read it multiple times.
While it is basically common sense, and we’ve heard it all before, I find it to be very motivating. Frankly, it inspires me and reminds me that I need to do certain things repeatedly over time in order to build success.
I tell my clients that in the beginning of their business it will take a while before they see results. Like riding a bicycle uphill, the first few pedals are killer, then it gets a touch easier. And before you know it, you’ve built some momentum.
But be careful!
You never want to stop and rest. Because then it’s like starting from zero all over again.
So what are the things you must consistently do as a fashion brand to build momentum?
- Always be marketing
- Consistently visit the stores buying your product. You should see what your competition is carrying and what your customers are saying.
- Do 2-3 things everyday that move your business forward. These are called M.I.T.’s or most important tasks.
- Speak to your buyers everyday. Of course not necessarily the same buyer, but the interaction is important to stay current on what is happening at retail, but also to develop rapport.
- Refining your brand. Branding is never finished. You will always need to tweek it to make it the best it can be.
- Which brings me to improving your product. You should inspect a percentage of every shipment for fit and quality.
- Be current. This is a fashion business so do your research. Watch the runways, read magazines, pay attention to pop culture.
- Know your numbers. Know your bookings, sales, inventory, and margins at all times. This way you know if a you are behind or ahead and can operate accordingly.
Remember when you were learning your times tables?
Running a business requires the same degree of consistency. You can’t just run through the dastardly 8 times table a couple of times and say you’re ready for the test. Instead, you have to wear those flashcards out.
Consistent constructive action is the key to building a lasting and profitable fashion brand.
Why not give it a try for 2017?