[day 6] what all successful founders have in common
LESSON 6: learn to take a chill pill
Slowing down is an important skill to have when starting a business. One of the biggest complaints I get about LMCL being 6 months is that it is too long. Many people want to launch their line in as little as 3 months. And, while other courses promise that you can in as little as 6 weeks, it’s kind of a bit of false advertising in my opinion. If you are going to do it right, you need a solid 6 months to launch a brand, maybe even more.
WHAT YOU ARE DOING IS HARD - BUT YOU CAN HANDLE IT
My advice here is don't listen to the people that tell you what you want to hear. The yes-men. Like the spammy Facebook ads that promise to teach you how they make 7-figures a month and travel the world.
Yea, that sounds great, and who wouldn't want that? The problem is, it's not real, and the success rate for those programs is like less than 1%. Instead, listen and learn from the people who tell you the hard truths and care about your success, not just what you want to hear.
In the past, I have worked with startups that want to rush a product to market, and I have never seen it end well. For that reason, I refuse to do it anymore. If you want to rush, find someone else to help you.
And, isn’t that the point of the slow fashion movement, anyway?
To, you know, slow down?
WHAT HAPPENS WHEN YOU RUSH A CLOTHING LINE
Here is what happens when you rush and don’t take your time. You end up with a bunch of samples, or even worse a production order that you, and maybe your customers don’t really love.
When you slow down, it helps you create a system of checks and balances that will ensure the long-term success of your business.
Here’s an example. I have seen brands scramble to get their designs into work to meet deadlines, without ever really doing the validation work. Then when they see the samples they are like, omg, this is not what I want I have so many better ideas now. They then end up redesigning the entire collection.
And to someone whos not in the fashion startup world, this scenario might sound absolutely terrible. But, really, it’s kind of a blessing.
Yea, they lost a lot of time and money in the sampling process. But, here is the thing. At least they don’t have hundreds or thousands of pieces from their production order of styles they really don’t like, and now need to figure out how to sell.
This is why it’s important to pause and reflect at every stage of the process.
Walk away from what you are doing, then come back to it with fresh eyes. You may have different feelings and ideas tomorrow.
When you are constantly never stopping you don’t have time to reflect and grow. In that space of pause is where you will have some of your best ideas – I promise. So, take this day to think about all the work we have done so far this week. And remember to continue the exercise of taking breaks as you move forward launching your line.
MY SECRET TO NOT BURNING OUT: LEARN HOW TO SET GOOD BOUNDARIES
To prevent yourself from burning out, you need to set boundaries.
Once you know what you want from your company, and the lifestyle you need to be happy, you then need to set boundaries to make sure you don't get derailed on the way to your goals.
Set boundaries that feel right to you. And, the best way to figure out where to start setting boundaries is to look at what is stressing you out.
Figure out what about it is making you anxious, and change it.
The most recent boundary I set is only working during designated hours. Because I realized, when I am on my phone at the dinner table I’m getting the worst of both worlds. My work suffers because I am distracted by everything around me. And my personal life suffers because I’m are not present.
One of the biggest reasons I left the corporate fashion world to start my own company was for more personal time. The thing is, I am a secret work-a-holic. So, to keep that promise to myself, it’s important I constantly check-in, and set boundaries to keep that balance.
Creating this rule has been life-changing for me and my business.
I learned that I don't need to be so available to everyone all the time. They can wait an hour for me to finish my meal, or relax and watch some Netflix, or have drinks with a friend. After all, it’s fashion, not brain surgery. Remember it’s not life or death.
The rules you set up, are up to you. A popular place many of my students like to start is limiting social media time.
When you really start to pay attention to what you are doing on social media, and how much time you are spending on those platforms. You might just realize what a toxic time suck it is. Time that could be much better spent doing other things.
But, it really is up to you and what you feel you need.
The next step is to download today's worksheet. And I will see you tomorrow for our last lesson!