How to get out of a shoe business rut

Do you run a shoe business? Whether you’ve had your company for years, or you’re a recent start-up, it’s easy to get stuck in a shoe business rut.

What’s a shoe business rut?

It’s any period of time in which you feel demotivated. You may have experienced a drop in sales, and don’t know how to improve those numbers. Perhaps you’ve managed to get all your new season designs down on paper, but the manufacturer you wanted to work with has let you down.

Maybe you got some great PR and were featured by the press numerous times when you launched, but you’re now struggling to get their attention.

How can I escape my shoe business rut?

So what can you do when you get that stuck feeling, and you feel like a rabbit in the headlights?

Here are my top tips on how to feel you’re really getting somewhere with your shoe business again.

1. Step away

• Take a break from your business.
• Whether you go for a week-long holiday, a short break, or just a really long walk, there’s nothing like stepping away and having some thinking time to help you refocus.

 

2. Why did you start your shoe business?

• Remembering what motivated you to start your shoe company in the first place, can help you to reignite that passion.
• Try to distil that motivation into one short phrase.
• Keep your “why” at the front of your mind. You could even print it out and put it on your wall, or use this phrase as a screen-saver on your phone or computer.

 

3. What’s your end goal?

• Do you want to grow your shoe business to sell, or will you keep it and pass it to the next generation?
• Are you keen to become a big employer in your area?
• Would you like to give some of the business’s profits to charity?
• Is there a level of lifestyle which you want the business to fund for you and your family?
• Whatever your goal, it can help motivate you to remember what your hard work is for.

4. New shoe business strategy

• Now you have your goal and motivation at the front of your mind, it’s time to strategise.
• Perform a S.W.O.T. analysis of your business, and the activities of your competitors. Analyse where the barriers are in your company, and see how other brands are overcoming those barriers.
• Create a list of objectives which will lead you towards your ultimate goal. Set an achievable deadline for each one. Now break down the steps you and your employees or freelancers need to take in order to achieve those objectives.

 

5. Get help

• If all of this seems too daunting, it’s a great idea to get some support.
• Getting an independent expert’s viewpoint can help you take those essential steps towards long-term success.
• Send me a message when you’re ready to get the support you need.