|« Previous||Next »|
I know that I have learned some hard lessons this year and not all of them have been the result of 2020 being 2020...
In this episode of the FastTrack Your Fashion Brand Podcast, I share my experience with working on liquidating my inventory with a liquidator. This is something I knew many fashion designers and business owners are a little bit nervous about but truthfully, I found so much freedom in the process. I always want my FastTrackers to be successful in their fashion business, yet sometimes, liquidating can feel like a failure. That feeling is not true.
This episode is an honest and helpful look at some of the reasons why you should liquidate and what kind of liquidators to look for to help you move your product.
One of the major fears that comes with liquidation is that the notion that you have failed as a business... Which makes sense when you think about retail stores going out of business and all you see are those huge yellow or red signs that read “EVERYTHING MUST GO!”
But one of the things I have come to realize is that working with a liquidator is actually a freeing experience for you and your business.
Think of it as a clean slate, cleansing your mind, and letting those creative juices flow back in...
Walking yourself through the process of understanding how much money it’s costing you to keep your product around, whether it's causing a creative block to keep promoting it, or constantly seeing a style that hasn’t sold as well can be a productive process.
Say it with me, out loud... ”Liquidating is not a failure.”
Didn’t that feel good?
Now, that you have some more brain space lets walk through the three reasons why you’re liquidating…
Keeping your heart, mind, and soul in check is so important when you are running your business. Remember that these are all important steps to walk through in your mind when you’re deciding if you should liquidate.
Finding a liquidator can be intimidating…
Don’t worry, Google can be your best friend in helping you find the right business to sell to.
The most important thing to remember is that when you research a liquidator you are looking to who they sell to.
Are they selling to an off price store? Small boutiques? Poshmark sellers?
All of these factors are something to consider when you are approaching a liquidator because if your customers aren’t any of these stores it can be hard to get a good price for your product.
The best thing I can recommend is doing your research and getting multiple offers on your product to find the best price that can help you recoup some of the money you lost in creating the product.
01:05-07:55 - Masterclass in Sold Out Launching
08:00-08:55 - Why You Should Liquidate
09:00-11:25 - Three Lessons on Liquidating
11:30-16:55 - Identifying Your Stand Out Style
17:00-20:00 - Are We Attached to Our Styles or Our Customers?
20:05-25:55 - How to Find a Liquidator
26:00-29:13 - Tricks of the Trade!
29:20-31:55 - RECAP!
PODCAST FB GROUP: www.facebook.com/groups/fasttrackyourfashionbrandpodcast
SUBMIT YOUR FASHION BIZ QUESTIONS: www.fashionbizmentor.com/breakthrough-coaching
SEE MY DESIGNS: www.mynicolita.com
THE SOLD OUT CHECKLIST FREE DOWNLOAD: https://bit.ly/FASHIONCHECKLIST
Hey there FastTracker!
You know how much I love ACTION TAKERS!!! So if anything on this episode inspired YOU or even lit a fire for YOU to take some action... I would LOVE to hear all about it!! Head on over to the podcast and leave a RATING + REVIEW. I read every single comment and feature listeners each week. Those reviews help other people find my podcast and they’re also fun for me to go in and read.
Our guest list for upcoming shows keeps on getting better and better so make sure you are subscribed to the show! I'm adding more bonuses so if you are not subscribed you just might miss out. Click here to subscribe in iTunes!
|« Previous||Next »|