Boutique Business Quotes

Trump liked to portray his business as an empire, it was actually a discrete holding company and boutique enterprise, catering more to his peculiarities as proprietor and brand representative than to any bottom line or other performance measures.

The boutique clothing store goes out of business approximately once a year, whereupon someone buys it, changes out the name and the scented candles, and proceeds to gently lose money for another year.

If you don’t ask, the answer is always no.

Success isn’t a gleaming, shiny mountain. It’s a pile of mistakes that you’re standing on instead of under.

In fact, trying to grow too big, too fast is one of the top—and perhaps the saddest—reasons that small businesses fail.

Once we realize that fear is normal, then we don’t have to wait until we aren’t scared to do the thing we want to do. We just do it scared.

You teach people how to treat you by what you allow, what you stop, and what you reinforce.

Don’t wait until you’re not scared to do the thing you want to do. You’ll never do it. Instead, just do it scared. There’s something extraordinary waiting for you on the other side.

I don’t want to be the servant who buried his treasure in the backyard because he was too scared to step out and try something new. I want to be a servant who doubles or triples or quadruples everything that I can!

You are giving something your customer needs or wants. When you stop focusing on what you’re getting from them and instead focus on what you’re giving to them, you can start to sell with more confidence and less awkwardness.

Every business needs capital. Whether we’re talking about a barbershop or a bank, a boutique e-commerce store or a hotdog stand. Whether we’re talking about a restaurant or a clothing store, a giant like Walmart, or the local bodega that’s owned by a local family. They all need capital.

When you aren’t able to spend time on things you care about, you are stressed, exhausted, and frustrated because you feel the inconsistency in your life between what you care about and what you’re actually doing. Stress and anxiety are caused when there’s a disconnect between your values and your behavior.

In addition to taking your side business full time, another way you might want to grow and expand is by moving locations. Here are some different ways you can move: Moving from Etsy to a full website Moving from online to a brick-and-mortar store Moving from having one location to opening multiple locations

Money drives the Mercedes called Manhattan. Individuality and eccentricity take the bus. Gentrification, boutique hotels, prefab Olive Gardens and Home Depots are the coils tightening around the Chelsea. No more getting on bended knee to beg Stanley Bard to give you a room. In fact, the new owner, busy with intensive renovations, isn’t admitting anyone into the hotel. No doubt, if he does, it’ll be the moneyed elite, standing surrounded by their Louis Vuitton bags, checking in while dialing their iPhones. But that’s another story.

For example, your social media schedule might look something like this for one day: (Jab) Post #1: Inspiring quote (Jab) Post #2: Live behind-the-scenes video of your business (Jab) Post #3: Helpful article with a list of tips (Right Hook) Post #4: Invitation to sign up for a contest My friend Steve, a social media professional, says, “A good brand is a generous brand.” Be generous in your marketing and social media strategy, and you will build a relationship with your followers. They will become loyal, appreciative, and ready to take the next step with you.

Giving is often more comfortable than receiving. When you’re giving, you’re in control, and you have the power. When you’re receiving, the roles are reversed. I would rather stand on a stage and give a presentation to three thousand people than stand in a room and have thirty people sing “Happy Birthday” to me. I’d rather host a baby shower for someone than have one thrown for me. Sometimes it’s hard to receive, and that’s often the same reason many of us struggle to sell. Whether you realize it or not, sales is about being willing to be vulnerable and receive.

businesses that could benefit from the way networks behave, and this approach yielded some notable successes. Richard came from a different slant. For twenty years, he was a ‘strategy consultant’, using economic analysis to help firms become more profitable than their rivals. He ended up co-founding LEK, the fastest-growing ‘strategy boutique’ of the 1980s, with offices in the US, Europe and Asia. He also wrote books on business strategy, and in particular championed the ‘star business’ idea, which stated that the most valuable venture was nearly always a ‘star’, defined as the biggest firm in a high-growth market. In the 1990s and 2000s, Richard successfully invested the money he had made as a management consultant in a series of star ventures. He also read everything available about networks, feeling intuitively that they were another reason for business success, and might also help explain why some people’s careers took off while equally intelligent and qualified people often languished. So, there were good reasons why Greg and Richard might want to write a book together about networks. But the problem with all such ‘formal’ explanations is that they ignore the human events and coincidences that took place before that book could ever see the light of day. The most

Local NGOs are like high-fashion boutiques. They sell very high-quality products – the Prada bag, the Armani frock – to a small number of people at very high prices.

Even though Trump liked to portray his business as an empire, it was actually a discrete holding company and boutique enterprise,

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This book should never have happened. If it wasn’t for the most bizarre and twisted sequence of events involving a diverse array of people it wouldn’t have. Let us explain. If someone we, the authors, had wanted to impress - a publisher, say, or a book reviewer - had asked us how it had emerged, we could have come up with all kinds of things to establish our credentials for writing it. But they would have been only a small part of the story of how it came about, and not the interesting bit either. The truth is much more human and fascinating - and it also gets to the heart of the book and shows how networks really work. Greg has always been fascinated by ‘network theory’ - the findings of sociologists, mathematicians and physicists, which seemed to translate to the real world of links between people. Early in his professional life at Auto Trader magazine in Canada he got to see an extraordinary network of buyers and sellers in operation. Later, when he became a venture capitalist - someone who invests in new or young companies, hoping that some of them will become very valuable - he applied what he’d learned. He invested in businesses that could benefit from the way networks behave, and this approach yielded some notable successes. Richard came from a different slant. For twenty years, he was a ‘strategy consultant’, using economic analysis to help firms become more profitable than their rivals. He ended up co-founding LEK, the fastest-growing ‘strategy boutique’ of the 1980s, with offices in the US, Europe and Asia. He also wrote books on business strategy, and in particular championed the ‘star business’ idea, which stated that the most valuable venture was nearly always a ‘star’, defined as the biggest firm in a high-growth market. In the 1990s and 2000s, Richard successfully invested the money he had made as a management consultant in a series of star ventures. He also read everything available about networks, feeling intuitively that they were another reason for business success, and might also help explain why some people’s careers took off while equally intelligent and qualified people often languished. So, there were good reasons why Greg and Richard might want to write a book together about networks. But the problem with all such ‘formal’ explanations is that they ignore the human events and coincidences that took place before that book could ever see the light of day. The most

ran—at separate times—a boutique investment banking firm and a small mortgage company. He served as the Treasurer for the multinational vitamin manufacturer USANA Health Sciences years before becoming CFO for MonaVie. Devin squeezed in two brief stints in government, including two years working for Jake Garn on the U.S. Senate Banking Committee Staff and another year working for an independent state agency called USTAR, where he helped foster technology entrepreneurship during Governor Jon Huntsman’s administration. Devin is proud to be a Ute, having graduated from the University of Utah David Eccles School of Business, which recognized him as a Distinguished Alum in 2006. He also earned an MBA at Cornell University where he ran the student newspaper, Cornell Business.

Let’s save our well-meaning advice, suggestions, and opinions and instead focus on loving the woman in front of us. Let’s deliberately dissolve the judgment between us and realize that each of us is on a uniquely and perfectly messy journey of our own. When we focus on that, we can sit next to a woman with a life entirely different from our own and appreciate everything she is and everything she offers without feeling envious or superior. When we stop focusing on what divides us, we can champion each other in a way that allows the women in our lives to feel supported and accepted exactly as they are, and most importantly, we can feel the freedom to accept ourselves and our own choices as well. We can unapologetically create our own version of balance, and we can finally rest in the paradox of finding comfort in our own uncomfortable choices.

The best way to identify and define your target market is to imagine your ideal customer. That’s right. I want you to dream up this person. And don’t think of a group of people; I want you to think of one person who is your ideal customer. Who is she? Why does she like what your business offers? After you think about why your business is for her, get to know her. Think about what makes her tick. Think about what she wants, what problems she has, what things she values, and so on. And since you’re really getting to know this ideal customer, just for fun, go ahead and give her a name.

I won’t judge you for dishes in your sink and shoes over your floor and laundry on your couch. I won’t judge you for choosing not to spend your one life weeding the garden or washing the windows or working on organizing the pantry. I won’t judge you for the size of your waist, the flatness, bigness, cut or color of your hair, the hipness or the matronliness of your clothes, and I won’t judge whether you work at a stove, a screen, a store, a steering wheel, a sink or a stage. I won’t judge you for where you are on your road, won’t belittle your offering, your creativity, your battle, your work.2

David and Neil were MBA students at the Wharton School when the cash-strapped David lost his eyeglasses and had to pay $700 for replacements. That got them thinking: Could there be a better way? Neil had previously worked for a nonprofit, VisionSpring, that trained poor women in the developing world to start businesses offering eye exams and selling glasses that were affordable to people making less than four dollars a day. He had helped expand the nonprofit’s presence to ten countries, supporting thousands of female entrepreneurs and boosting the organization’s staff from two to thirty. At the time, it hadn’t occurred to Neil that an idea birthed in the nonprofit sector could be transferred to the private sector. But later at Wharton, as he and David considered entering the eyeglass business, after being shocked by the high cost of replacing David’s glasses, they decided they were out to build more than a company—they were on a social mission as well. They asked a simple question: Why had no one ever sold eyeglasses online? Well, because some believed it was impossible. For one thing, the eyeglass industry operated under a near monopoly that controlled the sales pipeline and price points. That these high prices would be passed on to consumers went unquestioned, even if that meant some people would go without glasses altogether. For another, people didn’t really want to buy a product as carefully calibrated and individualized as glasses online. Besides, how could an online company even work? David and Neil would have to be able to offer stylish frames, a perfect fit, and various options for prescriptions. With a $2,500 seed investment from Wharton’s Venture Initiation Program, David and Neil launched their company in 2010 with a selection of styles, a low price of $95, and a hip marketing program. (They named the company Warby Parker after two characters in a Jack Kerouac novel.) Within a month, they’d sold out all their stock and had a 20,000-person waiting list. Within a year, they’d received serious funding. They kept perfecting their concept, offering an innovative home try-on program, a collection of boutique retail outlets, and an eye test app for distance vision. Today Warby Parker is valued at $1.75 billion, with 1,400 employees and 65 retail stores. It’s no surprise that Neil and David continued to use Warby Parker’s success to deliver eyeglasses to those in need. The company’s Buy a Pair, Give a Pair program is unique: instead of simply providing free eyeglasses, Warby Parker trains and equips entrepreneurs in developing countries to sell the glasses they’re given. To date, 4 million pairs of glasses have been distributed through Warby Parker’s program. This dual commitment to inexpensive eyewear for all, paired with a program to improve access to eyewear for the global poor, makes Warby Parker an exemplary assumption-busting social enterprise.

Fears establishes the limits of your life. The bigger your fear, the smaller your life. If you're scared of heights, you'll stay low. If you're scared of the outdoors, you'll stay indoors. If you're scared of failure, you'll never try anything.

By the time I’d made it to Get Mugged’s cross street, I was wetter and warmer, which is not as sexy as it sounds. I turned down the street and spotted the roofline of Get Mugged. The neighborhood had gone through some heavy reconstruction. Buildings had been torn down, leaving behind dirt, concrete, and gravel. There were two buildings left standing: Get Mugged and an empty warehouse with boarded-up windows. Get Mugged held down the corner of the block, a coffee-scented old broad wearing too much paint and plaster to cover her age but still turning over clients like a dime-store hooker. The warehouse looked like Get Mugged’s meth-mouthed sister, broken, rotting from the inside out, spongy, and frail. For years, people had wanted to turn this area into boutique shopping. A building would go up, something would move in, and before there was time to hang curtains, the business would bankrupt. Enough of that had left the whole block looking a little like an unmade bed.

boutique’ is about how you operate—it’s a model of doing business, a filter for your business decisions, and a mind-set that makes your customers say you were worth every penny.” Instead,

Businesses that compete on price can’t invade your territory. When you’re a boutique business, you’re the expert, you’re the personal consultant, you’re the teacher, you’re the person looking to thrill your customers every single time. THE

Which is where the next ambitious ALG project comes in: African Leadership Unleashed, or ALU. Led by Fred Swaniker, ALU is a plan to establish a network of 25 universities across the continent by the end of the decade—Africa’s Ivy League—each of which will have 10,000 students. The first ALU has already opened in Mauritius. The idea is to apply the exact same boutique model of the African Leadership Academy to tertiary education. Once the 25 colleges are built and running, it will mean that every four years 250,000 young Africans trained in business, government, ethics, social policy, medicine and the arts will be entering the workforce. Among them will be the new generation of Africa’s leaders. Says Swaniker, “Hundreds of thousands of university graduates on the continent today are not equipped with the skills to lead change. About 45 percent of university graduates in Africa today are unemployed. This is a tragedy. I want to change this by applying ALA’s model in a tertiary space to provide the critical skills and leadership experience necessary for success.” Swaniker announced the project in a powerful talk at TEDGlobal 2014 in Rio de Janeiro titled “The Leaders Who Ruined Africa, and the Generation Who Can Fix It.” The talk has been downloaded over 1 million times and is a powerful and inspiring manifesto for this, the African Century.

Whether you are formulating your business plan, or you want to find out how people perceive your established business, get yourself down to a shopping area (preferably one that houses the sort of clothing shops and boutiques with whom you are aiming to compete.) Talk to shoppers as they leave stores, introduce your business, and ask

The Suzy Kassem quote, “Fear kills more dreams than failure ever will” rings all too true for many business owners.

It’s what Joyce Meyer calls, “New levels, new devils.”2 Even if you conquer your fear of doing one thing, the moment you try something new, push your limits, or take on a new challenge, you’re going to have a whole new set of fears that come with it.

The bigger your fear, the smaller your life.

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Eventually, after years of blood, sweat, and lots of tears, you become an “overnight success.

Putting yourself out there feels vulnerable and risky, but anything worth doing usually does.

Fear isn’t a sign that you’re doing something wrong. It’s a sign that you’re doing something new. It doesn’t mean you’re not capable, qualified, or ready. It just means you’re doing something that matters to you. And fear doesn’t mean you’re doing something bad. It means you’re doing something bold.

It’s natural to want to feel like you’re working toward something, and it’s defeating when you feel like you aren’t.

Research your competition enough to learn from them but not so much to be intimidated by them. If you can look at what they do without stressing yourself out, you can: determine the industry standard (generally accepted criteria) for your particular type of business, discover best practices (a best method for accomplishing something) in your specific industry, get a baseline idea for pricing, learn from their mistakes without making them yourself, and appreciate what they do well and incorporate that into your own business.

In order for your price to work for you, you need to know who your competition is and who it’s not. It’s not big-box stores, and it’s not other business owners running hobbies. Don’t base your pricing on what the wrong people are charging. Instead price for your business and your customer.

But I’m not alone. I know that those voices may nag at you too. You discover your strengths, but you downplay them. You know what you’re good at, but you underestimate it. You want to create a product or add a new service to your business or share part of your heart with the world, but all you can think is, Everyone already knows this. Everyone already has this. Everyone already does this. We assume everyone can do what we do, so what’s the big deal? The big deal is that we’re wrong. I want to remind you of something I’ve tried to remind myself of daily for the last several years. What’s obvious to you is not obvious to everyone else. What’s easy for you is not easy for everyone else. What’s simple to you is not simple to everyone else. Your strengths are unique, valuable, and important. And friends, the world needs you to step into them. We undervalue our strengths because they may seem easy and obvious to us. But don’t let that stop you from sharing them with the world. Because what’s obvious to you might be amazing to someone else. There are people out there right now who can benefit from the gifts that come so effortlessly to you. So don’t downplay your strengths or dismiss your values. Instead, build your business around them and go for it. There are people out there right now who need what you have to offer!

Few people can truly excel at occupations about which they entertain moral reservations.

And that’s what I want for you: the power that comes from women championing other women. Whether it’s the boutique down the street that is similar to yours or someone across the globe competing for the same online customers, whether you’ve met her or not, there’s room for both of you. While you may feel pressure to elbow your way to the top, I want to share some good news: you don’t have to. Because ultimately, it doesn’t have to be her or you. It is both of you—out there busting it, doing the work you are called to do.

A man was suffering a persistent problem with his house. The floor squeaked. No matter what he tried, nothing worked. Finally, he called a carpenter who friends said was a true craftsman. The craftsman walked into the room and heard the squeak. He set down his toolbox, pulled out a hammer and nail, and pounded the nail into the floor with three blows. The squeak was gone forever. The carpenter pulled out an invoice slip, on which he wrote the total of $45. Above that total were two line items: Hammering, $2. Knowing where to hammer, $43.7 When you’re setting your price, you’re not only charging for cost of goods, expenses, and time invested, you’re also charging what you’re worth. You’re charging for the unique gifts, talents, skills, education, knowledge, perspective, ideas, quality, and style you bring to the work you do. So don’t just charge for hammering. Charge for knowing where to hammer.

We naturally focus all of our time and energy on the things we care about, the fun stuff: setting up the Facebook page, printing business cards, picking colors and fonts for our website, writing cute thank-you notes, choosing ribbon for packages, and decorating our space to be “just right.” We don’t think about the business side of things until we have questions like, Do I need a business license? What taxes do I owe? Do I need patents for my products? Should I form an LLC? Do I need a lawyer? And then we hit a wall. In my research, I’ve discovered that this wall is where women take one of two paths. Some women take Path One, where they decide they aren’t “business-minded” enough. They resolve to keep their hobby a hobby and let their business dream die. But other women take Path Two, where they decide to push through. They get answers to their questions and help with things they don’t understand. Instead of turning back, these women get over the wall and go on to reach their goals and grow their business.

Think of places where your ideal customer hangs out. For instance, if your business is making custom baby gifts, you might sponsor a lunch for a local Moms of Preschoolers (MOPS) group so you can meet and build relationships with women who have little ones—and probably have friends with more little ones on the way! Or, if you offer small-business accounting services, you could bring coffee and donuts to local small businesses and introduce yourself to get your foot in the door. Whatever kind of business you have, your customers hang out somewhere. Go find them!

I had several friends from law school who were very enterprising guys, much more so than the average law student. They each started businesses after practicing law at large firms for multiple years. What kind of businesses did they start? They started boutique law firms. This is completely unsurprising if you think about it. They’d spent years becoming good at delivering legal services. It was a field that they understood and could compete in. Their credentials translated too. People learn from what they’re doing and do it again on their own. It’s not just lawyers; the consulting firm Bain and Company was started by seven former partners and managers from the Boston Consulting Group. Myriad boutique investment banks and hedge funds have spun out of large financial organizations. You can see the same pattern in the startup world. After PayPal was acquired by eBay in 2002, its founders and employees went on to found or cofound LinkedIn (Reid Hoffman), YouTube (Steve Chen, Jawed Karim, and Chad Hurley), Yelp (Russel Simmons and Jeremy Stoppelman), Tesla Motors (Elon Musk), SpaceX (Musk again), Yammer (David Sacks), 500 Startups (Dave McClure), and many other companies. PayPal’s CEO, Peter Thiel, famously made a $500,000 investment in Facebook that grew to over $1 billion. In this sense, PayPal is one of the most prolific companies of recent times. But if you look at any successful growth company you’ll start to see their alumni show up doing parallel things. Former Apple employees founded or cofounded Android, Palm, Nest, and Handspring, companies that revolve around devices. Former Yahoo! employees founded Ycombinator, Cloudera, Hunch.com, AppNexus, Polyvore, and many other web-oriented companies. Organizations give rise to other organizations like themselves.

I’m always driving to somewhere I love. When I’m driving to work, I’m driving to a place that I love. When I’m driving home, I am driving to a place that I love.

Often, the reason we’re so quick to judge other women with decisions different from our own is that we aren’t completely comfortable with our own choices. The woman with a full-time office job looks down on the stay-at-home mom while battling her own guilt about not attending every class party and field trip. The stay-at-home mom judges the woman working long hours while at the same time struggling with her own sense of identity and purpose.

I want to see women set free to pursue what they love and unapologetically make money doing it. I want to see women confident and happy and satisfied with the life they’ve created instead of just tolerating some version of life they felt pressured into or settled for.

Three bricklayers were working on the same building. When asked what they were doing, the first answered grumpily, “I’m laying bricks.” The second replied with a bit more vision, “I’m putting up a wall.” The third bricklayer’s response was different. He replied enthusiastically and with pride, “I’m building a beautiful cathedral. It will be the finest building in town, and it will be a place of peace and comfort for everyone who walks by it!” What a difference knowing why makes. When you know why you do it, even the most mundane work can become meaningful.

When you know your why, you can endure any how.

Turning things down is hard, but it gets easier the more you do it. Being able to say no is a muscle. If you never use it, then when you try to, it feels difficult and awkward. But the more you use that muscle, the stronger it becomes and saying the word becomes easier. Eventually, once you get the hang of it, it actually feels good. You feel more powerful—like you actually have a say in your own life. Imagine that!

It’s easy to look at people who are at the top of their game and assume they just woke up there one day, as if their success came overnight. But anyone who has ever accomplished anything in life knows that there’s no such thing as an overnight success. No one lands on the mountaintop by accident. You have to work to get there.

Starting something new feels risky and uncomfortable, but remember, the people who win in business and in life do it in spite of this.

Why this café instead of another? Because of the owner, Madame Chadly, who never seemed surprised by anything and demonstrated a certain indulgence toward her customers. Many years later, the streets of the neighborhood no longer offering anything but the windows of luxury boutiques, the site of the Condé since replaced by a leather shop, I ran into Madame Chadly on the other bank of the Seine, on the way up rue Blanche. She didn’t recognize me right away. We walked a while, side by side, talking about the Condé. Her husband, an Algerian, had purchased the business after the war. She remembered all of our names. She often wondered what had become of us, although she had no illusions. She had known right from the outset that things would turn out badly for us. Stray dogs, she told me.

Carry individual items as opposed to whole lines. We wouldn’t try to carry a whole line of spices, or bag candy, or vitamins. Each SKU (a single size of a single flavor of a single item) had to justify itself, as opposed to riding piggyback into the stores just so we had a “complete” line. Depth of assortment now was of no interest. As soon as Fair Trade ended in 1978, we began to get rid of the hundred brands of Scotch, seventy brands of bourbon, and fifty brands of gin. And slowly (it was like pulling teeth) we dismantled the broad assortment of California boutique wines. No fixtures. By 1982, the store would have most of its merchandise displayed in stacks with very little shelving. This implied a lower SKU count: a high-SKU store needs lots of shelves. The average supermarket carries about 27,000 SKUs in 30,000 square feet of sales area, or roughly one SKU per square foot. Trader Joe’s, by 1988, carried one SKU per five square feet! Price-Costco, one of my heroes, carried about one SKU per twenty square feet. As much as possible I wanted products to be displayed in the same cartons in which they were shipped by the manufacturers. This was already a key element in our wine merchandising. Each SKU would stand on its own two feet as a profit center. We would earn a gross profit on each SKU that was justified by the cost of handling that item. There would be no “loss leaders.” Above all we would not carry any item unless we could be outstanding in terms of price (and make a profit at that price per #7) or uniqueness. By the end of 1977, we increased the size of the buying staff, adding one very key person, Doug Rauch, whom we hired out of the wholesale health food trade. Leroy, Frank Kono, Bob Berning, and Doug rolled out Five Year Plan ’77, which for purposes of this history I call Mac the Knife. Back in those days we had no idea how sharp that knife would become! We just wanted to survive deregulation. Everything now depended on buying. So here we go into the next chapter, Intensive Buying.

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Most businesses have the goal of getting as big as possible. Supreme, on the other hand, strives to remain underground and boutique, growing only when they deem it will enhance the brand. As style writer Glenn O’Brien put it, “Supreme is a company that refuses to sell out.” But why? Well, first off, because it wouldn’t be authentic to who they are, what they do, and what they’re into. For instance, when asked why they wouldn’t expand into women’s wear, Jebbia simply replied, “It’s not what we know.” And that’s all they’ve done—manifest an authentic reflection of their core beliefs with unyielding discipline. Supreme is a reflection of Jebbia’s life experiences and pas- sions. It just happened that his passion for “cool and unusual things for young people” was in harmony with the global youth movement that his brand has come to represent. Supreme continues to succeed on a massive scale because they have the discipline to focus their resources on creating great products rather than over-expanding. Or, as Jebbia puts it, “Staying true to what you do best has played a major role in our longevity. I would like people to see that we’re a small, independent skate company that has done our own thing, in our own way, over many years, and will hopefully continue to do so.

We’ve been in stop-and-go traffic on a huge, busy avenue for quite a while, passing everything from ridiculously pricey boutiques to a giant natural-foods store, little restaurants and cafés with handwritten signs in the windows advertising matcha tea and kale smoothies. But

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