It was do or die for tie store owner Jeremy Chen when people stopped wearing ties | #442
Tie shop owner (and serial entrepreneur) Jeremy Chen was staring business disaster in the face when the global financial crisis lead to a huge decline in tie wearing. But instead of closing shop, he and his business partner made an ever so slight pivot thanks to one customer that walked in at the right time with a request they were destined to fulfill.
“We’re on track for over $6M this year, with 10 people in Melbourne, over 5,000 SKUs and an average growth rate of 50% per annum for the last 7 years. Everything's heading in the right direction.” - Jeremy Chen, BePromotive
There’s loads more tips and insights just like this that will help you build that beautiful business of yours into the empire it deserves to be. Hit the PLAY button above to listen now, or subscribe free to hear the full interview.
Jeremy also shares:
- What he loves about small business
- Why he’s started so many businesses
- Why he decided to pivot and not shut down the tie shop
- What role marketing has played in each of his businesses
- And plenty more …
“Advertising is the price you pay for being boring!” - Jeremy Chen, BePromotive
Here’s what caught my attention from my chat with BePromotive’s Jeremy Chen:
- I loved Jeremy’s attitude to pivoting or grinding it out.
- Jeremy’s idea of approaching your captive market when things are tight is solid. These are people who already know you and want to help you out.
- Heading to the Canton Fair was a massive decision given he didn’t really know what he was going there for … yet it certainly paid off.
Resources mentioned:
- Promotional products business BePromotive’s official website
- Jeremy Chen on LinkedIN
- Interview with Clive McCorkell from Arid Zone
But the marketing gold doesn’t stop there, in this episode:
- The overall winner for 2018’s Monster Prize Draw winner is:
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