Ashley's Tip of the Week: The Secret to Success

Hey, guys, I'm back with another quick tip for you this week, and I can't wait to start another season of the entire podcast and welcome you back with some guests. But until we do, I think this week's quick tip is really, really important. And honestly, I see this question asked almost every single day, especially this time of year. And that question is, what is the secret to success? Man, if I had a dollar for every time someone asked that question. Because no matter what stage you're at, whether you're brand new and you're trying to scale your business, you're at a larger scale of your business. What is the secret? What? What do I do? What is the next thing? Tell me the one thing. And it's like there's this misconception out there that there's just this secret that only the successful people know and no one else is privy to, and that just isn't the case. There is no secret. I hate to burst your bubble, but I think the most important thing that we all should know in this industry is there is no secret and there is no shortcut to success. But it does come down to a couple of really important things. So it certainly isn't copying what other people are doing. It certainly isn't seeing what big boutiques are doing and just trying to emulate that online. It's much more than that. It's not copying what other brands boutique owners are carrying. It's not undercutting and trying to be cheaper than what other people are doing. In fact, I feel like cheap is not loyal. Cheap is definitely not loyal. If your customers want cheaper, they can go to Walmart. They always can go to Walmart. But your customers come to you for a very special and unique reason. And it has nothing to do with who you're trying to be like or who you are trying to be cheaper than. So if you want my honest opinion on what the secret what the secret is to success, it's the following couple of things. First, it's knowing your customer better than anyone else. Who is she? What makes her tick? What are her fears? What are her frustrations? What is she shopping for? What is she going to Google tomorrow? And how can you provide that today? What makes her feel strong and beautiful and smart? And how can you serve her needs quickly and easily in a way that makes her want to come back again and again? People do not buy the products that you're selling them. They buy the way that you make them feel. And copying someone else or being cheaper than someone else certainly does not Give them that same emotional experience. So know your customer better than anyone else. The second tip and secret is really it's your social content and it's having a real deal strategy around what you're posting and why you're posting it. Are you sharing branded content meaning all the behind the scenes and building the idea of your mission and vision and values and who you are as a company? Are you sharing sales content? Do you have great quality product images and try on fit videos? Do you have a real brand or are you just posting clothes on a hanger? And the third bucket is engaging content? Are you asking questions? Are you sharing stories? Are you building a two way or multidirectional conversation with your audience? Or are you just simply selling to your audience and hoping they buy something? So what is your real content strategy? The third secret is making sure you know your numbers. And there is no shortcut here, you guys. I have met boutiques and that are doing multiple million dollars a year in sales and they still don't know their numbers and they still aren't paying themselves. It is such a shame to see someone make such great revenue but reinvest everything right back into the business with no idea where their money is actually going. So from the very start, or whatever stage you're at, know your numbers. What does that mean? It's knowing my sales by category. It's knowing my sales by size, by vendor, by sales channel. It's. It's knowing my margin, it's knowing the discounts that I took. It's knowing my average order value, my conversion rate. It's knowing what is my open to buy plan, what do I need to buy next month to have enough on hand that's fresh to sell through and reach the goal that I have. So what do I have on inventory right now that's new? What do I have on inventory right now that's aging and I need to discount and move out? And then what do I need to buy? And specifically in what categories do I need to buy them in? Your numbers cannot be faked. You have to dig in and know your numbers. So huge secret to success right there. And finally, the last big secret to success, the fourth in my opinion, is being willing to ask for help. It's being willing to ask for help no matter what stage you're at. The most successful boutiques that I've been lucky enough to work with at any size are humble and they know when to come to the table and say, you know what, I need help with this or despite how great this might look, I'm still struggling with this. And they've come to the community and they've asked the questions and they aren't too prideful to admit that they don't know the answer. And really, in the same token, they're the same type of people that willingly share with others. And when they see someone who was in their situation maybe a couple of years ago, they come back and they give advice and they share wisdom and. And it really is the entire motto of community over competition. And a rising tide lifts all ships. And inside of the hub, I'm so blessed to get to see people live this mission out every single day. Once in a while, we get people that come in and maybe they don't really attach to this mission or they're too prideful to want to either ask for help or to give help or to make fun of where other people are in their journey. And those people don't last long. Right, because the light will always outshine the darkness. And so I am so, so grateful. So you get to see awesome boutique owners every single day live in community over competition. And I think that is a real secret to success. So just to recap this week's quick tip, what is the secret? The secret is there is no secret. It's four tips, which is asking for help, knowing your numbers, having a content strategy, and really knowing your customer. And it's being willing to try new things again and again and again and be consistent with how you show up. Those are the best tips I can give you. Success is not just copying what someone else is doing, what brand someone else has, or undercutting someone's price. Because cheap is not loyal. Cheap is cheap. Your customers come to you because you offer them something that no one else can. And it's the way that you make them feel. It's the way that you provide them value and education and inspiration all in the same time. So if you're here, keep on shining. Keep doing what you're doing, keep showing up every single day. Keep. Keep finding what works and what doesn't work, and make a new plan for tomorrow. And I promise you, I will be here every step of the way with you. Thanks for tuning in to this week's quick tip. I can't wait to launch the next season of the podcast. You guys, thanks so much for supporting the show. And for all of you who listen on Spotify, thank you for tagging me and including the Boutique Hub. In those of you that had the Boutique Chat listed as your top podcast for the year, we're incredibly humbled to see that. Thanks so much for sharing, guys. All right, we'll be back next week. See you soon.