This week, Launch Youniversity is honored to have accomplished entrepreneur, Sid Mashburn, join us on today’s episode. Sid is the owner of the #1 men’s independent clothing store in the US. This is part one of our conversation with Sid, make sure to subscribe to the podcast so that you don’t miss part two next week.
HELPFUL LINKS AND RESOURCES:
THREE KEY TAKEAWAYS:
1. Do your own research. When Sid was scouting a location for his store in Atlanta, he drove down every single street within a several-mile radius. He looked at the license plates of cars driving around to see what surrounding counties they were coming from. He noted the restaurants, where people were hanging out, who his neighbors would be. After spending time finding out who the people are and what surroundings they enjoy, he was able to determine the need.
2. You can't go wrong when you put people first. Building community is part of the Sid Mashburn business model. Sid says that when people cross the threshold into his store, they are his guest. What do you do when a guest comes into your home? You offer them a drink. Simple gestures of graciousness, like offering customers a beverage, have turned a clothing store into a place where people come to hang out. The Sid Mashburn store is a place where anyone can shop and everyone is welcome.
3. Great Product. Great Price. If you can accomplish the dynamic duo of fantastic products and prices, you don't have to live in fear of the ebbs and flows of the economy. Sid launched his store at a time when everyone in retail was trying to leave retail. He knew that if he put out a really great product, at a really great price and wrapped it up in exceptional service, it would be okay. He was right.