Is what you are doing working?

Find yourself spread too thin? As you look to manage your business are there areas or tasks that maybe have consumed more of your time and resources than the results would suggest are necessary? As an entrepreneur it can be easy to think that everything you and your business are doing is important but that may not be true. Being focused on the tasks that matter and being able to discern which ones those are is an art unto itself but can be a defining attribute of a successful entrepreneur.

Stitch Fix had found a business model with strong traction offering customers individually picked clothing and accessories in exchange for a styling fee. They would ship items to customers who are able to return any of the items that they don’t want or like. On a predetermined schedule, Stitch Fix will send out packages to their customers that match their profile and style preferences. A personal designer for a monthly fee. Recently Stitch Fix began offering individual items to their customers negating the need for the monthly service or package which was the basis for their original business model. In trying to service customers they have found themselves basically retailing individual articles of clothing which is at odds with their original business model.

You might think you are on to a good idea only to realize that maybe your business and team have strayed too far track. You may have a good business underneath the all of the activity might it take some work to dig down deep and find the core problem your business solves for customers. Every entrepreneur can benefit by examining their business.

Leave a Reply