“We were able to do that in four days because we had built a workflow that allowed us visibility from when that product got manufactured all the way to when it hit the shelves.”
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Said on The CPG Guys
Portland Leather Goods · Operators · 5 Things Every CMO Wishes CEOs Knew But Will Never Say to Your Face
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Started by buying leather off shelves at a local store, cutting and making products in-house, and listing them for sale the next day, avoiding mass manufacturing
“We were able to do that in four days because we had built a workflow that allowed us visibility from when that product got manufactured all the way to when it hit the shelves.”
“If you have specific partners making a ton of money… bring them in house… you're going to be increasing finances time, which puts you on their bad list because now they have more paperwork.”
“I paid people basically friends to go buy a product and create a buzz about it… ‘Do you mind going to the store and buying Spanx and I'll send you a check?’”
“By invoicing faster and in smaller batches, he cut day sales outstanding to half the industry standard, resulting in a one-time cash benefit that he values between $100,000 and $150,000.”
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