Recently, Eileen Fisher–fashion designer–was featured in the September 26, 2011 issue of Fortune Magazine (pg 50-52). The article discussed her journey from a college graduate to becoming an owner and leader of her own fashion design company.
It was interesting to read how she launched her own business from a single idea, and to learn of the struggles she went through to become a successful leader in the fashion industry.
Eileen Fisher shared six practical lessons she learned as she rose to the top in her industry.
1. “Don’t pretend to know. If you act like a know-it-all, then no one will tell you anything. If you don’t know, people come forward and want to tell you. People like to give advice and help.”
Stevies advice: Be humble enough to ask; be wise enough to judge between the good and bad advice you get. Seek the counsel of others who may see things from a different perspective. Act upon what you feel is right for you and your business.
2. “Be authentic. Doing good can’t be a trumped up thing. It has to come from within and be what you really want to do, or else it rings hollow.”
SA: Be yourself. Be sincere. Let people see the real you.
3. “Tell the truth. You’re not just trying to sell customers something in the moment. You’re trying to get them something they’ll love that’s going to work for them.”
SA: Be honest with yourself and your customers. Under promise and over deliver. Seek to develop a long-term relationship with others. Dishonesty breaks the bonds of trust. When trust is gone, so are your customers.
4. “Accept perfect enough. We’ve adopted the saying, ‘Let it go–it’s perfect enough’. Often the first time you produce a garment (your product or service). . . you have to tweak it. In the mistake is the next success.”
SA: Learn from your mistakes. Never give up. Keep on trying. Your next success may just be around the corner, but you will never know unless you keep trying.
5. “Focus first. Because I used one fabric to start, I was able to purchase a larger amount, dye enough, move it from one style to another. Then there came a point that it was aching to break out of its little box.”
SA: Become excellent at one thing at a time before you move on to a different thing. Diversify when you are top of your game.
6. “Make it safe to tell the truth. People don’t want to say, ‘that didn’t work,’ but we want to hear the truth. You might be giving us information that will bring us to a really good place.”
SA: If your culture is to punish, people will hide behind the truth by only giving you half of it, or worse, just telling you what you want to hear. Work to develop the trust of your people so they are comfortable telling you how it really is–good or bad. Remove your ego and don’t take what they say personally. Use what you learn to grow and become better.
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