18 May How to Achieve Freedom in Your Business
Today on the Boutique Chat Podcast Faith Parker, CEO of the Boho Bungalow, joins us for How to Achieve Freedom in Your Business.
Today Faith discusses the systems and processes she implemented in her 3 storefronts so can she can have the freedom to live in Costa Rica part-time. You’ll learn that not only are SOPs important, but also the culture you create in your team. Tune in to hear Faith explain how you can achieve more freedom in your business.
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Episode Rundown:
- 00:06:40 Buying for a Non-Apparel Boutique
- 00:09:10 Profit First
- 00:13:26 Opening Multiple Locations
- 00:16:56 Systems, Processes, & Team Culture
- 00:22:40 Employee Rewards & Pay
MAIN POINTS IN HOW TO ACHIEVE FREEDOM IN YOUR BUSINESS
- Customers vote for the inventory want with their dollars.
- The more you grow, the more hats you can take off.
- Building good team culture is everything! Your employees need to feel seen, heard, and understand how important they are.
FAVORITE QUOTES IN HOW TO ACHIEVE FREEDOM IN YOUR BUSINESS
“The more you grow, the more hats you can take off.” -Faith Parker
“I shine a light on them (employees) and they get to share. They feel supported and they feel a part of a community. I want them to do that for our customers, so I think it’s important I do that for them.” -Faith Parker
“Hire slow, fire fast. You know when it’s not a good fit. Don’t drag it on, pull that band-aid off and move on because there is someone out there that is going to be a better fit for that position.” -Faith Parker
Where to find & reach Faith:
Instagram: @bohobungalow
Website: https://www.thebohobungalow.com/
Today’s episode was brought to you by Management One. Learn how to make more money with your inventory, increase cash flow, and drive growth in your business. Follow this link to learn more: https://www.management-one.com/boutique-hub
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Original Air Date: May 18th, 2021
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