Opening a retail store in November may be a rookie mistake but we dove right into the deep end. I like to keep quotes pinned to my computer and I kept in mind “It’s okay to be scared, being scared means you are about to do something really brave”. There was no time to think about what we were doing the holiday season was going strong and we were just keeping our heads up. We closed the store the week between Christmas and New Year and like the proverbial Deer in the Headlights, we didn’t know what had just happened. Now that we had a moment to breathe, we could make a plan for what we wanted the first full year in business to look like. We added up what we would need to make to break even and I tacked on a little extra for good measure. I wanted to pick a goal that seemed like, “If everything goes right, this could happen” but enough to make my stomach flip and that little voice to say, in a snarky voice, ‘Really?”As a friend of mine calls it a Big Hairy Goal (BHG) My husband, ever the realist, reminded me that most retail businesses take 2 to 3 years to turn a profit. We had a lot of remodeling costs and inventory costs to recoup. But I’ve always been one to set my sights high so I held firm to my number and plowed forward, trying not to think about that number looming large. January, as expected, is slow. February, also expected to be slow, brings in my first true design client from the store. A woman and her friend stroll through the doors, oohing and ahhing, something that still gives me a thrill. She tells me that she lives in a three-year-old home that she wants to make, “dark, moody, and glamourous.” Not my typical look but I love a challenge! We schedule an appointment to see her home and I walk into a nearly all-white home, this is going to be fun. Over the following year we would transform her home and other clients would follow. Some walk-ins from the store, others through referrals and past real estate clients. Enough to manage, without being overwhelming, and to keep me from freaking out too much about what I had done. Not to say that there were not sleepless nights, there have been plenty of those throughout the year. Periodically I would check the year-to-date numbers to see how we were coming along, come June, halfway through the year and we were nowhere near halfway to our goal. I tried to bolster my confidence that it only takes one big client to turn things around and keep in mind that many retailers operate in the red until December. I had faith that everything that had happened to me led to this journey and I just had to keep my head down and keep moving forward. And that is just what I did. September brought in a couple of referrals from friends, a past client and before I knew it, there were just 2 weeks left before yearend. I couldn’t look, “how close are we?” I asked. 5% to go was the reply. UGHHHHH, so close…would we make it? daily I looked at the numbers, the gap slowly closing, me driving everyone crazy. Finally, with just 3 days to go, we made it to our BHG!
Now it’s year 2 and the whole thing starts all over…