04.02.20 | Timestamp @21:27 | 14 Ways to Adjust Your Life to the Coronavirus
Jody’s Question or Topic
Jody is a fashion designer and has been actively developing her luxury streetwear brand named Knarli. She designs reversible knitwear produced in a virtually zero waste manner using 3D knit technology.
Jody planned to launch for public sale next month, but due to COVID-19, she had to halt her plans. However, Jody finds the halt a good opportunity as it gave her time to rethink about her production strategy. Right now, Jody needs help deciding whether to continue her original plan of starting with flat knitwear and then transition to 3D knitwear, or skip the flat knitting process and go straight with 3D knitwear. She also wants to know what Gary’s advice would be for people starting a company with zero business experience.
Gary’s Story and Advices
Since 3D knitting plays an important factor in the Knarli brand story, Gary suggests that Jody stick into it and not compromise her brand’s story for money and convenience.
Gary also asked Jody if she has tried pre-selling and told her not to be afraid to do it. Because if she fails to deliver, she can just always return the money and also send something really nice like a knitted handkerchief.
Gary’s advice for people with no business experience is (1) bring in a partner and give that person a percentage of the business. And (2) realize that many successful business people also have zero business experience, yet they figured it out over time.
Gary Vaynerchuk’s Quotes
“People make financial decisions all the time that compromise the story.” ~ Gary Vaynerchuk
“People pick ease. People pick faster. People pick money over the story.” ~ Gary Vaynerchuk
“Don’t fear pre-selling because if God forbid you can’t make it, you can return the money and do something nice because you weren’t able to deliver.” ~ Gary Vaynerchuk
“Never, never, never compromise your story.” ~ Gary Vaynerchuk
“You got very lucky that this pandemic happened because it gave you another chance to not compromise.”
~ Gary Vaynerchuk