From going door to door to every surf shop in California, to exceeding over $1 billion dollars a year in sales, Brian Smith, Founder of UGG Boots is a prime example of how, with a little determination and persistence, you can turn an idea into profit. Brian shared this his story of success at the 2014 Small Business Summit in NYC.
In the first year of selling his product, Brian only managed to hit $1,000 in sales. Although it was disappointing at the time, when looking back at it, Brian says that his business never could have hit the billion dollar mark without going through the one thousand dollar phase. He then shares with the audience an important business reminder that like in life, “you can’t give birth to adults”. He explains that starting your business is like giving birth to a child. First the business is conceived, and then an event takes place to give birth to the business. It starts off in the infancy phase, the worst period where you are constantly changing and working and there is nothing you can do to speed up the process. Your business will then grow to the toddler phase, progressing to the youth phase, the teenager phase and then finally mature into the adult phase.
Check out the full video presentation here, or simply watch the video below.
Brian continues to share the story of his business as it goes through each phase of growth. He shares challenges that he faced and how he overcame them as well as some of the most rewarding moments of his journey. From having to change his entire marketing tactic to accidentally selling the company and then getting 100% of it back, Brian’s story is nothing less than inspiring and motivating for every entrepreneur.
Here are four philosophical statements to remember when building your business:
- Feast upon uncertainty. Even though you have no idea where your business might go, don’t let that get you down.
- Fattening upon disappointment. We all have disappointments, whether your partner burns you or someone lets you down, you just have to keep your head up and keep on going.
- Enthuse over apparent defeat. Defeat is always apparent but it is never real until you give up.
- Invigorate in the presence of difficulties. No matter what challenges you are faced with, fight through them.
Whether you are just starting your business or you’re already successfully up and running, this video is a must watch for all entrepreneurs!