728: Boutique Strategy: Short-Term Fixes and Long-Term Vision

Boost Your Boutique with Emily Benson

2:16.5: There's no one path to success.

3:13.3: There's been some quick fixes or people who've started businesses really quickly and maybe seen some success. But this is where the short and longterm thinking in my mind happens because you have to be on the pulse and you also have to be thinking longterm.

4:37.4: Size inclusivity has been something that we have been fighting for from vendors, from brands for so long. This is something that, you know, we want more cute clothes and inclusive sizing period.

6:22.4: We're just kind of, again, reinforcing the fact that women fluctuate sizes no matter what.

7:05.4: And while we don't want to take our eye off the ball with making sure brands and. Vendors have inclusive sizing, also watching our customer base, watching our size selling, seeing if we're like something's changing because this might not affect you at all.

7:29.1: I think we have to recognize that as boutique owners, we have to start being really flexible. We have to start understanding that our demographic is changing kind of all the time.

9:33.2: Maybe you start to expand where you're shipping or where you're advertising to, to encompass more people. Because for sure, one of the things we always need to be doing is attracting new people.

10:46.8: I'm going to know what's the best thing for me and the best thing for me is really looking at your inventory. I think we think there's these quick fixes, um, but to grow and scale a boutique business, it really benefits from time and consistent effort.

11:12.5: If you're sending an email, sending a text, doing an app notification, all of these things, these are touch points with your customers. The more they see it, the more top of mind that you are, and the more they get closer to buying. 2 percent of people buy on their first contact with you.

12:27.2: So I want you to consider what are some areas of your business that you're really just thinking about in the short term too much. I need to fix this quickly. I need to post more. I need to make more sales.

13:37.7: Look really long and hard at what you have. What have you bought? How are you assorting it? How are you styling it? What are your, um, tips and tricks to being able to style it differently for someone who maybe can't?

16:07.4: And I think it's interesting because we forget that it takes time to build a business.

17:06.0: The hardest part is staying excited because when you first start and you're buying stuff and you're like getting quick wins or you're feeling good about stuff, it's really addictive and it's really hard because you can get really addicted to the money coming in, right?

19:02.8: And you might find that you get into boutique land and you don't like it. And that's okay too.

21:05.0: You can grow your business fast, but you have to also think longterm. You have to set yourself up for the long run.

22:11.9: If you're thinking negatively, guess what? Your longterm is going to be tough.

25:23.3: I don't wanna commute, I don't wanna have a boss. I don't want to hope that someone puts my paycheck in. I wanna know I have control over my financial future. And I think that's the longterm thinking that a lot of us need to start to shift to.

26:04.1: Whatever your decision is, make sure you're baking in what that life looks like for you.

Resources:

Visit Boutique Training Academy - If you want to make more money in your boutique or retail business you're in the right place. We'll guide you step by step in your journey through Boutiqueland. 🛍️

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Mentioned in this episode:

Sky's the Limit Boutique Business Accelerator in 2024

Sky's Boutique Business Accelerator teaches a proven, professional level framework that has been revolutionizing how boutiques scale. What if in 3-4 months you could reduce your inventory liability, become more profitable and start making passive income?

Sky's the Limit Boutique Business Accelerator