Quickly - I just want to thank everyone that has subscribed to these publications - closing in on 2,000 of you all!If you aren’t subscribed you can do so below!
Would you ever consider doing something like a core collection (maybe the athletic line) with a few basics that are always available and besides that some special drops with creative and unique
Yes this certainly has been on my mind for a bit now. The problem I have been running into is the need to restock what has sold out so that people are able to get the things that they want. If I am pouring money into having certain pieces always in stock (and thus, sitting on cash in the warehouse in the form of product) it forces us to make less of the items that people want restocked. I guess a delicate balance that will become easier to deal with as working capital grows - excellent idea though
Yeah, probably in the current situation it’s hard and capital intensive but i think it would be a great idea for the future of minted. In the fashion scene in Europe the trend goes in this direction. A lot of brands are having a core collection always available or a core collection that’s available for a month or longer. From a perspective of a customer it’s maybe cool to have stuff not many others have but on the other side the pressure to buy the clothes within a few minutes isn’t really customer friendly. Idk in which stage of development you are minted rn but maybe as a designer it ist also nice if the appreciation of a drop/collection is higher and not everyone else is focused on the next drop a few minutes after. But it’s hard to scale.
Another thought would be to make a single piece for example the hoodie in a special Color way (eg. Black for an Black Friday event or sth like this) and making it clear upfront that everyone who orders one within a certain time period maybe a day or so will get one. I know that that means a much longer time for shipping due to production and stuff like this.
Yeah but just basically some thoughts that crossed my mind and some inspo out of the European/German fashion industry. Just keep going u are a big inspo and I’d love to share more of my thoughts with u in the future
Something I've struggled with in my own company is getting stuck in the weeds of working IN the business instead of ON the business. Seems like this might be the case with you specifically with the warehouse operations. While incredibly important, stuffing envelopes, breaking down boxes, and picking and packing are all relatively low leverage tasks. Something that can be taught and outsourced relatively easily. Your time would be better spent on the highest leverage tasks that only you can do - the things that are going to really move the business forward. Love these updates btw.
Yes I think you are absolutely right. Simple, repeatable tasks that end up being a time sink. We are working through the best possible way to outsource some of these. I think (long term) it makes sense to have full time warehouse workers... it just not in the cards at the moment.
Love reading these updates, so interesting to hear the full breakdown of everything going on within the business. I'm taking an entrepreneurship class in my computer science program at university and I can confidently say I've learned so much more about it by reading your posts. Cheers
If you're looking for a great book for budding entrepreneurship I cannot recommend Tim Ferris' The 4-hour Workweek enough. He also has sick podcasts interviewing world class athletes, doctors, and society changers where he breaks down their success for listeners. 4-Hour Workweek focuses on how to reduce micromanaging as a budding entrepreneur until you're only really working four hours a week.
Love this concept and idea for a way to put out a mass update on what’s going on. If you ever need someone to tape boxes and run to the post office you just let me know.. like seriously
Would you ever consider doing something like a core collection (maybe the athletic line) with a few basics that are always available and besides that some special drops with creative and unique
Yes this certainly has been on my mind for a bit now. The problem I have been running into is the need to restock what has sold out so that people are able to get the things that they want. If I am pouring money into having certain pieces always in stock (and thus, sitting on cash in the warehouse in the form of product) it forces us to make less of the items that people want restocked. I guess a delicate balance that will become easier to deal with as working capital grows - excellent idea though
Yeah, probably in the current situation it’s hard and capital intensive but i think it would be a great idea for the future of minted. In the fashion scene in Europe the trend goes in this direction. A lot of brands are having a core collection always available or a core collection that’s available for a month or longer. From a perspective of a customer it’s maybe cool to have stuff not many others have but on the other side the pressure to buy the clothes within a few minutes isn’t really customer friendly. Idk in which stage of development you are minted rn but maybe as a designer it ist also nice if the appreciation of a drop/collection is higher and not everyone else is focused on the next drop a few minutes after. But it’s hard to scale.
Another thought would be to make a single piece for example the hoodie in a special Color way (eg. Black for an Black Friday event or sth like this) and making it clear upfront that everyone who orders one within a certain time period maybe a day or so will get one. I know that that means a much longer time for shipping due to production and stuff like this.
Yeah but just basically some thoughts that crossed my mind and some inspo out of the European/German fashion industry. Just keep going u are a big inspo and I’d love to share more of my thoughts with u in the future
Something I've struggled with in my own company is getting stuck in the weeds of working IN the business instead of ON the business. Seems like this might be the case with you specifically with the warehouse operations. While incredibly important, stuffing envelopes, breaking down boxes, and picking and packing are all relatively low leverage tasks. Something that can be taught and outsourced relatively easily. Your time would be better spent on the highest leverage tasks that only you can do - the things that are going to really move the business forward. Love these updates btw.
Yes I think you are absolutely right. Simple, repeatable tasks that end up being a time sink. We are working through the best possible way to outsource some of these. I think (long term) it makes sense to have full time warehouse workers... it just not in the cards at the moment.
Wise words from spencer wise 💡
Love reading these updates, so interesting to hear the full breakdown of everything going on within the business. I'm taking an entrepreneurship class in my computer science program at university and I can confidently say I've learned so much more about it by reading your posts. Cheers
I am glad you enjoy them. This kind of feedback is incredible
YOU GOT IT DAWGGGG!!! ONWARD 📈📈📈
If you're looking for a great book for budding entrepreneurship I cannot recommend Tim Ferris' The 4-hour Workweek enough. He also has sick podcasts interviewing world class athletes, doctors, and society changers where he breaks down their success for listeners. 4-Hour Workweek focuses on how to reduce micromanaging as a budding entrepreneur until you're only really working four hours a week.
I have heard the name of this book thrown around a good bit. I will give it a read here shortly. Thanks for the reccomendation!
Love this concept and idea for a way to put out a mass update on what’s going on. If you ever need someone to tape boxes and run to the post office you just let me know.. like seriously
I certainly appreciate the offer! I will keep it in mind :)
Hi I know you said you have a silver restock, will the iconic wishbone pendant necklace three piece also be available in gold?
Yes!! There are wishbones & clovers coming back my friend. All of the packs of the past as well!
I found your company on Instagram, nice clothing and very inspirational Blog. Enjoyed Reading it
This means a lot to me. I appreciate this <3