#09 Top 10 Mistakes Happening in Retail Business Today - Solo Episode with Ashley Alderson

Welcome back to episode number nine. Today is a special solo episode where we're going to be covering the top 10 mistakes happening in the retail industry today and how you can overcome them. Let's talk about your business strategy and the juicy details of what actually works, from mainstream fashion to fashion on Main street and the entire ecosystem behind it. How do we scale your company and do it with the balance and the happiness that we all seek? Let's hear from those insiders, experts, and strategists that actually make it happen. I'm your host, Ashley Alderson from the Boutique Hub, and I can't wait to chat. Hey, there. Welcome back to the show. This week I'm so excited that you're taking time out of your day to listen. This week we are going to mix it up a little bit and do something that we haven't got to do on the show yet. And I'm so excited. This week is a solo round because I want to have a conversation with you specifically today about what's happening in our industry and how you can shape the future of your business with some of these things that we're going to be talking about. You know, each week I feel so privileged to have the opportunity to work with thousands of boutiques of all shapes and sizes and types around the world, as well as hundreds of wholesale brands. And today I want to talk about what's happening both in retail and in wholesale, because it's so important today. We're going to take a look at the top 10 mistakes in the retail industry today so that you can not only avoid them, but I want to give you some key takeaways that you can put to work in your business, no matter what it is, to help grow and scale to the next level. All right, keep listening, because at the end of the show today, I'm going to ask you about the one thing that resonated the most with you, and I want you to send it to me. Sound good? We've got lots to cover, so let's dive in. All right, top 10 mistakes in the retail industry today. Number one is selling versus serving. Now, this probably sounds pretty obvious to most of you, but I'm going to say this is a really common mistake that most people don't even realize they're making in their business today. In the world of Amazon and literally hundreds of new boutiques opening nationwide each month, it seems that a lot of retailers get hung up in price and deliverability, and they feel like they have to compete with one another based on the price of their product in order to succeed. But as I review what's happening inside of thousand thousands of uber successful stores that we work with, I find that they have one major thing in common and that is that their service and the experience they provide to their customer are far more important than mass product. When they figure out how to serve and create an experience, then the selling comes without strain. As we look back at the foundations of this industry, right as boutiques, as they got started, what made them successful, what were they founded on? It was that boutiques could provide a unique personalized experience with great customer service that educated their customer on how to wear and style the product. Huge difference between boutiques and big box stores. Because the big box store came in to compete on price. They came in to compete on thousands of skus that customers could choose from, but at the same time, those customers were left alone to sift through endless racks of product. So what I want you to take away here is start adding value and stop selling on price. You are not Walmart and nor can you compete like Walmart. You can't survive on a 30% margin. So take a look at your business and make sure what you're doing is building a business and not a hobby. Until you're ordering thousands of the same piece, you can't compete in a price war. Right. So not all customers in the same right are motivated by price. If I can wear, actually my husband and I were just talking about this this week. If I can wear a shirt 30 times versus three, I'm definitely willing to pay for that. So it's up to you as the retailer to explain the value and the quality of a product to me, the consumer. Right, so why are so many retailers and wholesalers even hung up on price today as their only selling point? Well, the society that we live in today is definitely a quick win society, isn't it? It's the fastest thing they know how to turn a sale. As a retailer, if you can mark something on sale and move it out the door, you get that quick adrenaline rush, right, that you sold a product. But that's met by a pretty quick low as soon as you analyze your margin when you're doing your books. Right. So in the world of retail today, I'd rather spend 10 minutes explaining price and value than a lifetime apologizing for quality. All right, so how do you do it? How do you serve your customers both online and off? Well, a couple of quick tips before we go on. First, look for their needs. First, what is the season? What are the events your customers are going to be attending. How can your merchandise build a story and build a collection that meets the needs of your customers? Next, how can you educate them? How can you teach them how to pair your products and style it for them in a way that inspires them? Because most people are coming to you as the thought leader and the educator in terms of style so you can teach them how to wear your product rather than leave them to figure it out on their own. And finally, how can you provide an experience with your brand? How can you add value and show those products and what great quality they are? How can you create multiple touch points and messaging and leave your customers with an experience that brings them back again and again? Guys, if a customer wants cheap product, let them go to Amazon, let them go to Walmart. But if they want a service that leaves them feel more confident and beautiful and cared for, knowing that they have a place to return to at the end of the day, then bring them to your boutique. Mistake number two not doing Video the single most important marketing strategy today, the one that cuts through all the noise, is simply being authentic. People want to do business with people, don't they? And in today's reality TV Kardashian loving world, the customer wants the same from you. They want to know who you are so they can build a relationship and trust with you. So the brands today that are crushing it, they're doing it because they have one thing in common. It's because they've become human. Human. And video is one key component to doing so. Whether you're going live weekly to educate your customers on trends or styling tips, or you're running an all out live sale, Facebook lives done consistently can really build lasting connections with your clients. Not to mention the algorithm engagement based perks, right when you're doing video. Facebook is rating video as a higher quality content type and therefore showing it to more and more of your followers. So video done well and done consistently is going to cut through the noise on social media. So besides Facebook Live, the second most important aspect of video in your marketing strategy should be Instagram stories. These are 15 second snapshots into your life and they're almost like a relaxed daily reality TV show that can strategically give glimpses not only into the new products that you're carrying in your store and behind the scenes in your business, but also just kind of some fun random extras that simply build relationship with your customers. I know a lot of people who are new to Instagram stories feel a little bit intimidated just when you're getting started, but it's actually quite addicting once you get going. And I know for me as a consumer of social Media, if there's one place, if I have 15 minutes just to go scroll on my phone, the one place I'm going to go is Instastories. Because I feel like I can truly relate to these businesses and these people that I follow just by having that real behind the scenes look into their brand. So don't let your customers miss out and skip over you and go to someone else just because you're not active on Instastories. All right, One key takeaway that I want to make sure you get after you listen to this podcast today in terms of using video is through our April training bundle for members of the Boutique Hub. This month's training bundle is all about Facebook ads. But on the topic of video this month in that training bundle, I'm actually going to give you one strategy as to how you can use video in your boutique to build a new customer acquisition strategy with Facebook ads. So if you haven't tried this yet and you haven't listened to that training bundle yet, you're going to want to do that after you listen to this podcast. Mistake number three Putting all of your eggs into one basket. I will never forget that major Facebook algorithm change of both 2014 and 2016 that really shaped the of so many businesses. Do you remember this? I know there were so many boutiques who got started when social media was free, right? And everything they put out there reached those who were following. But when these major algorithm changes happened, it basically washed out their engagement and their sales overnight. So how did this happen? Well, These businesses were 100% reliant on Facebook to deliver their message for free. And when that went away, so did their business. They didn't have a business plan because it was based on someone else's business. You can't do that. Sadly, I see the same thing happening today. Would you agree? Whether it's putting all of your eggs in a Facebook group or on Instagram or in your weekly live sales that happen to be crushing it at the moment. The fact is we don't own social media and we don't own our followers on social media. And as we see happening today, with one swift click tomorrow, our Facebook page could be deleted. Our group could disable your videos, could get blocked by you being in Facebook jail. There's no guarantees to using social media to get your message out to the masses. So the question becomes, what are you going to do to diversify your marketing message and build a true omnichannel strategy to reach your customers and not put all of your eggs in one basket. So a couple key places we've got to be today. Facebook pages, Facebook groups, Instagram Instastories, as we just talked about, those are the key platforms as well as Pinterest. But then what's going to drive more traffic to those platforms? And ultimately, right, the whole goal is to get them to your website or into your brick and mortar. How do you do that? Well, we've got to have an email list. And now just as important as an email list, we have to have a Facebook messenger list. Start driving traffic through Facebook Messenger. And then there's text message marketing if you want to go that route, or building an app for your store if you've got a lot of traffic and a pretty consistent customer base. I would say if you're in that at least 300,000 plus annual sales range, building an app should definitely be on your radar. So there's all these omnichannel digital marketing methods to get our message out there. But I want to remind you, don't lose sight of traditional marketing methods that also can help you cut through the noise because honestly, so few people are using them today. And that's sending traditional postcards and even calling your customers. If you've got a great point of sale system and you know who those best customers are or you know what customers are buying, certain lines or brands and you're going to build promotions around them, send out a postcard to those customers, make a phone call to those customers, reach them in a way that so few people are doing right now. All right, mistake number four being too inspired, quote, unquote, in creation. And this is a hot button topic for both retailers and brands. So I want you to listen up. We've got to have a talk about the serious subject that's really impacting a lot of businesses today. Right? Because there's definitely an epidemic happening in our industry thanks to that easy button click of a mouse that lets inspiration become emulation. And it gets our ideas pretty foggy as to what their origin is, doesn't it? So whether you're a retailer or a brand or designer, today, too many businesses are simply copying what's already been done and then calling it their own. And some are doing it on purpose and others honestly are simply ignorant to the laws and the ethics that most of us have come to understand. What does this mean? This means copying designs of T shirts. This means copying marketing strategies. This means copying social media content or stealing photos or copying customer lists out of Facebook groups. Anything that has to do with copy or being inspired by another just shouldn't exist today, should it? Because the Internet, yes, has made it so easy for others to copy or be inspired. But I also think there's something that we can do about it. And again, maybe it's just the dreamer in me, but honestly, I think that although this is happening, that same Internet that's allowing this to happen so easily is the thing that can bring us together and save us from this happening. We see this movement rising inside of the boutique hub, where retailers and brands alike are standing together to stand up for original work and to work together to spot imposters who are knocking off that original work. And you can be a part of this movement, too, if you're not already. So what do you do? What do you do if this happens to you or if you see it happening? So, first thing is, I want to be really clear here. While we're fighting against a movement of copycats in our industry today, I want to invite you to first and always lead with kindness and education. Because many times people that are new to our industry, that are just getting started in their boutique or their brand, they come in without knowing the ropes. And to them, imitation is the sincerest form of flattery. Right? Society tells us, or they feel like Pinterest is just fair game. I found this image on Pinterest, so it should be okay for me to use. Right? Well, without first understanding that retailers and brands today have been through blood, sweat and tears, and without understanding how hard it is to be successful in business, it's easy for these outsiders who are brand new to see this easy way out and not understand that any harm is being done here. So if you notice this happening, I would first invite you to just reach out with kindness to educate the people who are doing the copying. Because most often the situation can be resolved when you simply bring it to their attention. Then, as you begin to educate those who have copied you and you give them a chance to resolve, this is when you also need to be doing your own due diligence within your own company. This is trademarking your own business name, trademarking and copying your own original popular designs, and guarding your own intellectual property fiercely. And if someone's taken a stance against that and they aren't willing to resolve, that's when legal action can be taken and it should be taken swiftly if someone's going to stand against you and not resolve the issue at hand. Right. Lead with kindness and then make sure you have actually done your own due diligence. Then sometimes it simply falls back to ethics. And this is where the gray area comes in. And it does become a little bit difficult today. So what can you do when you don't have your work protected? And it just comes down to an ethics case, right? Some things are not going to be protected and it's going to be up to you to try to do what's right. And it's going to be standing up with other boutique owners and retailers and wholesalers similar to you to do what's right. And that is to stop buying from people who do infringing work. And the Internet is a small place today. So the same thing that makes it so easy for us to copy and be inspired from one another is the same place that allows us to communicate with one another than to alert one another when that type of thing is happening and to only support brands who are creating something original and not ethically infringing upon someone else's intellectual property. Right? So it takes all of us to stand together as a community to stand up for doing the right thing. So just as you don't want to be copied, this also means you not buying from the brands and retailers who are doing the copycat work, even if this means you saving a few bucks. Your word. And this movement is so much more important, right? So you can choose if you're in or you're out. Whether it's t shirt designs, earrings or even shoes, no matter what the size of the company is, everyone should be entitled to their own intellectual property and their own designs. And when you find someone that's infringing upon that, you can vote with your dollars and where you're going to spend your hard earned cash and your business to make the ch choice clear to stand up for what's right. Number five. Number five. Relying on only in person sales to drive business. And I want to talk about this in two different ways. If you're a brick and mortar today, a brick and mortar retailer, or if you're a wholesale brand who's only traveling to apparel markets and not reaching retailers and buyers online, you guys, both these two business models are missing one of the most important tools that your business could ever use to drive sales. Brick and mortar retailers definitely need a digital strategy today, not only to raise brand awareness, but to then drive foot traffic back to the store. If you're not online today, you're not in business today. Consumers today expect the world to be at their fingertips on their smartphone. Don't they even if you aren't an e commerce store today and you're a brick and mortar, consumers today still expect their smartphone to help drive awareness of what's around them and what's near to them. So if you're a brick and mortar, a traditional omnichannel marketing strategy has to be really clear for you today. Driving a clear call to action, what you want consumers to do and how you want consumers to meet and shop with you. And even paid traffic should be a part of your strategy today again to drive that traffic wherever those consumers can transact business with you. Now likewise, so many wholesale brands today have put 100% of their eggs into the apparel show basket or even just hiring reps to travel the country. But you and I both know the costs that are associated with each type, right? Today's boutique owner has so limited time and limited revenue to go to multiple apparel shows again and again, season after season to fill for the next season ahead. So today's retailer expects that within a few clicks of a mouse they can have their open to buy categories filled for the next month if needed, without getting on an airplane, Right? So how will you as a brand and as a wholesaler, how will you diversify to meet the changing demographic of the market today? And that is, in my opinion, you have to have a digital reach and a new customer acquisition strategy that's online. And that's our mission at the Boutique Hub today, isn't it? To drive awareness both online and offline for brands, Whether it's through our platform or other platforms we partner with like Fashion Go or in person apparel markets like Dallas and Atlanta and Chicago and Las Vegas. We believe that retailers today diversify their buying and therefore brands today have to diversify their market strategy and where they're going to connect with those retailers at. Alright, mistake number six today, competition versus collaboration. Every time I hear someone talk about their competitor quote unquote down the street, or brands who discuss their competition at apparel markets, honestly to me it's like nails on a chalkboard. I feel like they are missing what is right in front of them and that's that Today collaboration is the new disruption. Both brands and retailers alike. Who are winning today are those who can see the world for what it is and they can swallow their pride enough to work with those who are in the same business as them and they can win together. I am so, so proud of our community at the Boutique Hub for this reason because it's their genuine spirit of community over competition that honestly is changing thousands of lives. Together, the retailers and the brands that are in the community at the Boutique Hub share ideas and support and feedback, and they literally cheer one another on. They realize that the average American woman shops at multiple places and is less likely to Repeat only to 1, a single apparel line or store over a significant period of time. Yes, there is tons of brand loyalty today, but it's not very often that we see that brand loyalty to one singular location only. So build loyal customers, but know that that customer is also going to have a handful of other stores that they also shop with. How can you work in collaboration with those other stores to build a stronger business and build a stronger market for all of you and in turn to better serve those customers? You and I both know that there's power in numbers, right? And there's power in community. This has been demonstrated again and again by joint giveaways and cross promotions and recommending even the store across the street when yours can't meet a customer's need, or working with endorsees or influencers on photo shoots, working with guest designers and collaborators inside of your brand to give a whole new fresh take and spin on what you've already created and therefore attract a new market of buyers. When multiple stores work together, you build a shopping destination, right, for new customers. I'll never forget this lesson from my early days of economic development. I remember when a very successful clothing store in town came to me because the clothing store across the street went out of business. And as an economic developer, they came in and said, what can you do to help us find someone new to open a business and open a clothing store in that location? Because once that store is gone, it's less likely that we're going to attract customers even from out of town, to come and do business in our community. Because when we were both here, we've created a shopping destination. But if there's only one here, the choices are limited and fewer people are going to make the effort to come down and shop. When I first learned this, I was blown away by this strategy. But it became very evident how this impacted that business. Watching their numbers and their analytics over time drop until a new store opened across the street, right? And then it ultimately attracted more market share, more business for both of these retailers in our community. So the same is true for you. And really, that's what the entire mission of the Boutique Hub is built around. Today, when multiple stores work together, you build a shopping destination and a new cross market of customers. But when you work alone, you're a small fish in a Big pond mistake today. Number seven, and that is not using paid traffic. This month's member bundle for retailers and brands on the boutique hub again is all about Facebook ad strategy and how to build ads within your three part sales funnel. I'm so excited about this month because if there's one thing that I hear again and again, it's that people just don't understand Facebook ads or they feel intimidated by them. Right? Is this you, you feel like you've dabbled in Facebook ads and you're not sure where to go next? Well, that's what this month's training bundle is all about because it's such a crucial part of business today. So the truth is, if you're working to scale your business, it's really easy to plateau today in today's algorithmic social media landscape, right? Facebook, Instagram, you can only reach so many. But it's that paid traffic strategy that's going to help you push through, break through that barrier and bring in new customers and retarget existing customers to get more bang for your buck. Right? So what are you going to do today ultimately to better understand Facebook ads for tomorrow? Because those who are not understanding how to use Facebook ads are going to be left in the dust very soon. So I'll keep this one brief. Head to the training library to get started with this bundle. Plus four additional videos on how to run Facebook ads and begin understanding paid traffic for your business. Mistake number eight, tracking data but not analyzing it. I remember being in high school and honestly, I hated math so bad. I would do anything and everything to get out of math. It was like I was phobic because I was so intimidated by what I didn't. No, I was a communication girl. I was a talker. I was not. I was not a math girl. So thus the reason I studied communications, PR and marketing in college, because I had fewer numbers to deal with. So it wasn't until after college, though, when I was already working in economic development, that I met a woman in my community who was an accountant and she sat on our board of economic development and she was a quickbook swiz. And now this was almost 10 years ago, but I'll never forget how she helped me because she helped the creative side of my brain understand that I could actually get math and I could actually get good at accounting and enjoy it once I understood one thing and that one thing, that difference was me understanding how to let the numbers speak to me. It was understanding that numbers, when they're analyzed, can actually tell a story. I just had to know what I was looking for. And then once trained, then I could use that fun, creative side of my brain to take the next action. But first I had to know the story so that I could then understand what action the creative side of my brain needed to take next. Make sense? I think this is a lot of boutique owners today, would you agree? And even a lot of wholesale brands today. You get so excited about the creation of your business and the marketing and the buying and the styling and the customer service. You get running with that side of your brain that the numbers kind of fall by the wayside. And as long as there's money in the bank, unfortunately there's a lot of boutique owners who are just operating and operating and operating. But this is a really, really sure way to die a slow death in your business. And it's also a really, really sure way to impact your relationship with your spouse when they come asking you about those numbers. Because at the end of the day, a business is a business and without numbers, you got no business. Right? So first things first, I hope that at minimum you're doing a great job tracking your numbers. Quickbooks, an accountant, separate banking accounts and a budget. Minimum. Right? But what comes next is what separates the hobbyists from those who are building a long term sustainable business and an empire. And that's the analyzing. Right? And any one of you can analyze if me, the communications girl, can analyze and make decisions based off of that. So can you. I promise. I promise. So where do you start to analyze? Well, first it's understanding your point of sale data. And if you don't have a point of sale system yet, that's something that should be in your near future. At minimum, begin understanding what reports you can run in shopify to get the basic data. Right. So understanding your point of sale system data and then your inventory planning are open to buy. At minimum, you need to be sitting down weekly to have a weekly coffee date with your data. Because it's really important that you build consistency in understanding these reports because a lot of these reports are based on a certain time period. So you need to be able to compare apples to apples as to when you're running these reports so that the numbers can make sense and they can speak to you. So let me give you five key things that I want you to look for on a weekly basis as you analyze your numbers and your data. Right? Number one, I want you to have a buying plan for the next month that's going to help you reach your sales goal. Right? This is simple. In Order to sell X in X category, you need to have X on hand every single week. If you are planning on having fashion go open in another tab on your computer. Or if you're hopping on an airplane to head to LA or an apparel market, you have to begin with a number in mind in each and every category you sell. Right? That starts with a plan. Number two, sales reports. Understanding each and every week what is selling what category is not only selling the fastest, but earning you the highest margin because money is made on margin. So you have to know when can you double down and win. But in the same token, what's slow. And from there you have a markdown strategy of what needs to be moved to free up your cash on hand. So you can take that cash and invest it back over in your lead horses. Right? In what's selling the fastest with the greatest amount of margin. Number three, report to look for. And that's customer data. What customer trends do you begin to notice week after week? Is it sales by certain hour of the day? Right. Which then leads you to understand when you should be staffing and when your store hours actually should be. Is it by day of the week? Is it sales by certain team members that are on the floor and therefore you can arrange your schedule accordingly? Or is it customer demographics in general? Right. Each and every week. Understanding what your average order value is and how many products per purchase you're averaging play a key factor in what those sales numbers are going to be at the end of the week. So upsell, add on, cross, sell. All those things become so important once you have a metric to track and analyze each and every week. Number four, report that you should be analyzing every week is a simple traffic analysis. If you're an E commerce store and you understand that online conversion rates are only about 2%, which is scary. And in person, brick and mortar stores or vendors, your conversion rate is only about 30%. So if you know these numbers from the start, how much traffic do you have to have into your operation each and every week in order to convert the average amount of sales and conversions in order to hit your sales goal? Right. It just becomes a plan that you begin to work backwards. All right, number five, last report that you should be analyzing each and every week and that is tracking your expense and operating categories, how much are you spending and does this number fall in line with your budgeted categories and your revenue percentage outlines? Right. If you aren't tracking the numbers, it's pretty easy to let them get out of hand fast. Right? Only a track Number grows. So stop throwing noodles at the wall and hoping something's going to stick. Because honestly, it's not. You have to make a plan for your data and listen for what story that data is trying to tell you. And I promise, if I can do this, you can do this. Number nine, wearing too many hats. Sound familiar? Do you ever feel like a hamster on a wheel? Because as a business owner, I have certainly been there. It's like you have 10,000 things on your list, but at the end of the day you sit there and you wonder, what did I actually accomplish today? Is this you? Because I know as business owners, we've all been there. If you are serious though, about building a company and not a hobby, just like with your financials and analyzing your data, you also have to analyze your time and you have to take ownership of your role as the CEO of your company if you're going to be serious about this long term. So the question then becomes, what is the 20% of your list that's going to yield 80% of your results? That's how you should be planning each and every week. How are you managing the waste in your day? On top of that, if only 20% of your list is going to get you 80% of the way to your results, what's the 80% of that list actually look like? Where are you wasting time throughout your day? Is it the social media scrolling? Is it the needless questions that you answer again and again from your staff and your team because you've not trained them to think for themselves? Where is it that you're spending your time? Is it on something urgent or is it on something important? One of the first things that we do with our clients in Boutique Bootcamp is we help set boundaries for them them, and that's personal boundaries with their family and their spouse so that they actually can have a family and spouse right in time for them, but also boundaries with their team? And then from there we're able to work backwards and create this four part to do list to help them find out what's most critical to be accomplished each and every week so that they can make a plan to fit it all in. So my question for you becomes, what are you going to do today with your plan that's going to get you ahead for tomorrow? So if there's one takeaway I could give you, it would be to start with only three things on your to do list each and every day. The three biggest rocks that you have that you can cross off as you go and then at the end of the day, you can reflect upon what you actually did. Three important things, not three urgent things. It's actually building awareness of your time throughout the day and which really, at the end of the day, shapes your perspective on how you get things done and how you manage your business like a true CEO. All right, last but not least, mistake number 10. And this is a big one, guys. That's not taking time. For you, burnout is a real thing. And I hate to say it, but I've been there big time. It's when you want to throw your phone at the wall and just take a nap, right? Have you been there? Or have you had your spouse complain about your social media habits or how glued that phone is to your hands? Unfortunately, it's really an easy thing to have happen to us. Or have you ever been in this place with your kids where their kids are begging you to come play outside? Right. It's beautiful out, but you feel like you just don't have time because there's too many things happening on your list. Or how about date night? When's the last time you took a date night with your spouse? House. So someone once told me that I can't fill up someone else's bucket if mine's empty, right? And that translates to every area of my life. I know that when I'm not at my best, then nothing else is. So a turning point for me to understanding how I could fill my bucket was understanding how to set a boundary for me and making sure that that boundary is the most important piece of my day. So what's that look like? Right? How do you begin setting a boundary? And how do you begin your day in such a way that it sets the rest of your day up for success? Well, for me, it starts in the morning, and it's when you can win the morning, you can win the day. You start by being proactive versus being reactive. So first thing, and I'm going to tell you, before I did this, I thought people who did this were crazy. Like psycho crazy. How could they do this? And that's. I simply started working out three days a week in the morning at 5am, which the first couple days sucked. They were so hard to get up at 5am but you know what? Once I did it, almost a year ago now I've been doing this, I found more energy than I have ever had. And I find that I'm in a better mood and in a better mood for longer, right? Because I started my day that way. And it's like I Get up when it's still dark and there's still peace and quiet, everyone else is sleeping. And I can simply focus on how I'm going to win the day versus how I'm going to react to the day. From there, once you know, exercise and moving my body is a key piece of that. But from there, the next piece is setting up a powerful day using Brendon Burchard's three questions. And if you've heard this, if you've read Brendan's book or follow his podcast, you're going to know these questions. They're so important. The first is asking yourself, what am I most excited about today? And building excitement and anticipation for those things that you're just going to crush today, right? Number two is asking yourself, what might trip me up today and how could I prepare for that? Now, sometimes for me, when I ask myself this question, it might be just the urge to scroll Facebook or the urge to watch other people's Insta stories. So how can I prepare myself for that? Well, I know that when I'm trying to accomplish my three biggest rocks, my phone is off and it's in the other room, right? So I can't even get next to it. Then I can set myself a reward and once my rocks are accomplished, now I can go get my phone and actually enjoy it. The third question is who can I surprise today? And I love this one because for us to be successful and for us to really feel whole and complete and that's what we're all after, right? It's understanding that my day is not about me. My day is about giving gratitude and giving more than I receive throughout my day because the whole reason I'm in business in the first place, and I'm sure the same is true for you too. Yes, you make a living and yes, you make money, but it's so that you can enjoy your loved ones and your family. So if you aren't creating space and allowing yourself to be grateful and to try to build relationship with them throughout the day, then there's really no point in the day. So the morning has to also begin with reflection and planning rather than reaction. So after we review these three questions, I love this next piece because this is what Forbes has quoted. The one thing to be that most successful CEOs have in common. And you know what it is? It's that they never start their day by looking at their email. So getting the day started off right means placing biggest rocks first and keeping them all in check, keeping social media, slack and email inboxes closed because those I heard this quote the other day. It was that an inbox is simply a holding place for other people's agendas. Right? So we never start with someone else's agenda. We start with our own. We use our sharpest moments of brain power in the morning by crossing off our biggest rocks first. Because again, once you win the morning, then you can win the day. Alright guys, that's the list for the week. That is the top 10 biggest mistakes happening in the retail industry today. Hopefully, whether you are a retailer or a wholesale brand, you found something on this list that really resonated with you, whether it's in your business or down toward the end of the list into your personal life. I hope that you listened for your one thing, for the one thing that resonated with you the most. And if you did, I would love to hear about it. So would you please send me a DM over on Instagram today? I'll be watching for your reactions to podcasts. Message me at ajalderson or on our business profile boutiquehubbusiness on Instagram and let me know what you think. I want to hear what you took away and what's the one thing you're going to put into action to change for tomorrow. Guys, I've never been more excited than I am right now for the future of both retail and wholesale in our boutique industry. Aren't you guys? I believe that we are just at the beginning of a long movement and an opportunity that's going to shape tens of thousands of lives. But it's up to each one of us to seek that opportunity daily as we continually strive to learn and grow and test new strategies in our business. And that's what we're all here for. So thanks for spending the week with me, Boutique bosses. I appreciate you listening so much and I can't wait to come back and hang out with you next Tuesday. Hey guys, thanks again for listening this week. I love spending time with you each and every week on the podcast and I love hearing your feedback. So thank you genuinely for keeping it coming on Apple Podcasts and on itunes. You can listen as well on Libsyn. As a reminder, don't forget, we want to thank our Listener of the Week each and every week. A random listener who leaves us a review and we want to give you a shout out and a thank you. This week's Listener of the Week is Lana Flint, the owner of Talented Friends Boutique, who says I'm thrilled beyond words to have these podcasts to listen to to gain so much more knowledge about the Boutique business. The Boutique Hub membership has been the very best investment and I'm looking forward to all the future podcasts and training to come in the future. Lana, thank you so much for being our Listener of the Week and for your support of community over competition and the movement here at the Boutique. Huh? Hey guys, thank you so much for listening to this episode. We hope that you loved it. Don't forget to hit subscribe and leave a rating and review down below for a chance to be one of our featured listeners each and every week. For more information on our spirit of community over competition and how to access complete show notes and bonus downloads from our guests, head on over to the boutiquehub.com and join the community. We'll see you next week. It.