What They Don't Tell You About Growing Your Custom Apparel Business

https://www.youtube.com/watch?v=CSgzZHezDjY

How do you know if it's the right time to grow your business? On this episode of Apparel Academy, Ricoma CEO Henry Ma will give you his advice for setting realistic growth expectations, instead of biting off more than you can chew. Along the way he’ll go over some of the indicators that it might be time to scale your business, ways to track your business’s progress, and how to maintain a pragmatic, steady growth mindset instead of an overly ambitious one.

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00:00 Intro

01:31 Assess Your Current State

02:46 Track Your Progress

05:00 Break Your Goals Into Smaller Ones

06:17 Be Patient

Henry’s first tip for custom apparel business owners who want to set realistic growth expectations is to assess where your business is currently at. This means taking an honest assessment of your business – specifically looking for several key factors that it might be time to hire more staff or expand into other decorating methods. He explains how to ensure you’re taking steps to grow sustainably, instead of rushing into something you’re not quite ready for.

Next, Henry explains how to track your progress once you’ve assessed where your business is at. He offers several key metrics that will help you to know whether you’re ready to take the next steps or not, and what areas of your business may need to improve in before scaling. Henry then explains the importance of breaking up your big goals into smaller ones. He goes over how simply looking at the big picture can prevent you from making any real headway, and how examining your progress in smaller increments can help you to stay on track, and adapt if needed. Finally, Henry goes over why it’s crucial for custom apparel business owners to be patient as they grow their businesses, and how it can help you to build consistency and persistence over time.