- Joined
- Sep 7, 2011
- Messages
- 356
- Reaction score
- 527
At the height of my business in 2013 -2015 we had 13 employees 9 of which were full time. we sold to about 17 doors across the globe and everything seemed great. at that time I was running a business with absolutely ZERO debt.
A Slew of things happened
first a family problem that affected my work
then missing a season in Paris and losing some accounts
then sales online slowed...…...I kept the employees working, I was loyal to them. then the Cash ran out, we had good credit so to keep them working for the first time we borrowed money...……….I figured things would turn around we would grow again and pay the money back, the last thing I wanted was to lose skilled workers many of which I trained for years to produce the kind of clothing we did.
When online sales slowed we started doing deeper sales, and suddenly the cash was not coming fast enough to cover everything.
then our lease at Industry City was up and the Landlords wanted triple what we were paying. We couldn't and didn't want to do that, and so we moved...………..to a terrible location.
We could have easily folded, I had to send people home.
the one trump card I had was that I always had an idea to solve a problem, and for the FIRST TIME, I had none...….
I cried before my staff one day, and sent people home. But...……………..good ole Z is one of the most resilient, so I decided I was going to take the long road out of hell.
now we have 5 employees and I am more at peace, more happier. I have a MUCH bigger space, with a long lease and cheap rent. My friends and I took this shabby old space and built it to where it is now, nice store, almost 700 sq/ft and factory space of 1600 sq/ft
Customers are coming locally, especially WOMEN, so we are taking care of them, Online business is returning to good health, and most importantly we are almost debt free again...…….
All in all, adaptability is key, read, research and react.
I also think brands and stores should work together for the good of all. Its not easy but working together makes it more easier and a more enjoyable journey.
Sorry for the long post in your thread @Epaulet but I think sometimes people miss how a simple thing, even one that seemed good, if not managed well can put a business in a tailspin.
thanks for sharing, really cool hearing your story, the ups and the downs and hopefully the flat ground now.