How She Built A Billion Dollar AND Multi-Million Dollar Brands; Tap Into Your Customers' Needs; Building an Authentic Brand with Elyce Arons, Founder Frances Valentine & Co-founder Kate Spade
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Hey, It's Alex! 💛
Welcome to your Weekly Traction Briefing - your 5-min weekly growth playbook where we break down what's happening in business, how to Get Sh!t Done, and how to grow. If this briefing is helpful to you, share it with your friends so they can grow with you & thousands of other entrepreneurs.
🍵 THIS WEEK'S TEA
We need women in the semiconductor space! There’s a shortage and government shmoney is flowing freely to solve the problem. The Biden administration is providing $40B in subsidies to manufacturers. Why? Taiwan currently produces 90%. You can learn more and apply here. Another FTX founder pled guilty to fraud. Yet, the main a**hole still has not Suprise, Suprise! Clearly, this speaks to the audacity and further proof that he's a fraud. In other privileged news, some dude tested how pattern matching is cat nip for investors using an AI-generated white male face with some other benchmarks like "Stanford dropout", "Going through YC". Homeboy's fake profile got VC outreach in 24 hours ready to invest. The eye-roll I have ready for any VC's that say they don't do pattern matching is probably not good for my health. My eyes damn near roll out of my head
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👑 Founder: Elyce Arons | Company: Frances Valentine & Kate Spade | Location: New York, NY
🧾 Receipts: From Kate Spade to Frances Valentine, Elyce Arons is a 35-year fashion veteran. She has successfully launched a wholesale apparel business with majors and specialty accounts and has so far opened 6 extremely successfully retail locations across the country..
💸 HERE'S YOUR TRACTION BRIEFING
What She Learned from Kate Spade that She Brought to Frances Valentine
Be As Scrappy As Possible - "Don’t spend any money unless it’s on product development. Be as scrappy as you can." - Elyce Arons. Elyce's biggest take away from helping run two multi-million dollar fashion brands is to be scrappy - especially in the beginning when funding is scarce and money is tight. Your product or service is the foundation of your company, and it should be your top priority. Every dollar you spend should go toward improving your product, adding features, or testing and validating your idea. Learn how she's done it twice HERE.
🛠️ MORE TOOLS TO GET IT DONE: Learn how she bootstrapped an e-commerce business to 20X growth HERE.
How to Stay On Top Of Your Customers' Needs
Keep Your Ears On The Ground - "Be in touch with your customer. I try to go to the stores as often as I can and hang out in the stores because customers will come and tell you exactly what they want." - Elyce Arons. If you want to build a business that customers love, you need to tune in and listen to their needs. By putting your ears to the ground and staying connected with your customers, you'll be able to anticipate their needs, improve your offerings, and build a loyal customer base. HERE's how Elyce does this.
🛠️ MORE TOOLS TO GET IT DONE: Learn 7 effective methods to identify and meet your customers' needs HERE.
How to Grow A Multi-Million Dollar Brand In A Difficult Economy
Stay True To Your Brand - "We have been true to our brand. We aim to be unique, different and fun. It’s product, product, product - I think that makes all the difference in the world " - Elyce Arons. In a world where there is increasing competition for the same products and services - being authentic and sticking to their core values has helped Frances Valentine consistently grow. By being true to their brand identity, they have been able to attract a loyal customer base that values your unique offering and is willing to invest in your business. Learn more HERE.
🛠️ MORE TOOLS TO GET IT DONE :Learn how to build brand authenticity (+ why it's important) HERE.
RSVP TO THIS MONTH'S TRACTION TRAINING
Thursday, March 9th @ 6pm EST: Make Sh!t Funny: How to Use Humor In Business & Get More Done Happy Hour with Gold Comedy Club. RSVP
Wednesday, March 15th @ 1pm EST: How to NOT Suck at Pitching Your Startup. RSVP
Thursday, March 23rd @ 1pm EST: Q2 2023 Planning Party: Create Your Growth Strategy, Plan & KPIs. RSVP
Wednesday, March 29th @ 1pm EST: Ethical Storytelling for Founders: How to Sell Your Vision with Confidence. RSVP
Thursday, March 30th @ 7pm EST: Tea & Town Hall ☕. RSVP
THIS WEEK'S GROWTH GUIDE
Learn how to find, pitch & secure the bag from investors.
Learn how to scale by mastering different growth channels in the Traction Library.
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With Love & Impact,
Alex Batdorf
Chief Get Sh!t Done Officer