In this episode we discuss :

• The 80/20 rule: 80% of your sales will come from 20% of your products so ‘If it’s ain’t broke, then don’t fix it.’ If you have a best seller, relaunch it in different colour ways and styles, don’t try to always reinvent the wheel. 

• The importance of going to see your manufacturers in person: you get things done quicker, you can build relationships, you can check that they fit in with your values and they are likely to work harder for you after you’ve made the effort to come and see them. 

• The power of taking a break and space from your business: sometimes the most productive thing you can do is pausing and taking a holiday to reignite the creativity in you and help you get out of a negative cycle. 

In this episode we discuss :

• The importance of knowing who your customer is. This goes beyond just the normal demographics, but really understanding them in and out, what drives them, what frustrates them, how they shop. 

• Discounts and promotional strategies. Understanding the psychology behind customer decisions, how to use promotional tactics without damaging your brand reputation. 

• Understanding your numbers. All your decisions are based around your finances (product costs, margins, promotional discounts) so its important to get your head around this early on.