2017 was a year for learning. Over the course of the last 12 months we have learned a lot about accounting like we talked about last week, and next on the list is customer communication/inventory management. We have come to realize, that in this industry people are generally kind and understanding. The very nature of the business being in Children’s apparel lends itself well to people generally being caring and involved in families, etc.
With this said, we realize that when we do have problems we just need to communicate well. We had some small...
The Importance of Accounting
This year I underestimated the importance of accounting. I was typically saying to myself that sales and marketing are most important, and I left accounting go to the wayside. I ran into a major issue with this when it was time to pay commissions to our reps.
What are Commissions?
A sales commission is a percentage of the sale that we agreed to pay a rep when they write an order for us. More specifically, it is after an invoice has been paid. This is very typical in the apparel industry. We care a lot about...
2017 has been a whirlwind for us. We grew in multiples this year and made a lot of mistakes along the way. We want to treat our suppliers, our reps, and our customers better and we are going to share our journey on the things we are improving. I have decided to start making a blog about it because I hope that I can help you avoid some of the same mistakes! Some of the main categories that we made mistakes are:
- Customer Communication
- Inventory Management
- Marketing Plan
- Unfocused Facebook Ads (and wasted money)