
Through her sensible attitude to business and appreciation that cashflow is king, Taylor has managed to build a business that will not just survive, but thrive.
When Taylor and her semi-retired parents first launched their business, the economy was still struggling. As such, they had to weigh up what sort of company would be likely to endure, and thus the idea for Taylor Shoes was born. ?As we were still well into the recession, and consumer spending was extremely low, I decided to narrow my business idea to include only essential products. Regardless of how bad the economy became, people would always need shoes,? she explained. Initially the business was funded with a startup loan from NatWest, on the condition that the directors matched the loan with personal investment. Taylor?s parents provided the funds from their personal savings. Once established, it quickly became apparent that this would not be the sort of business Taylor could run from her bedroom. ?To grow to a reasonable size you have to quickly expand into premises due to there being such a wide range of sizes required for each style and colour of shoe. For instance, men?s shoes start at a size six and go up to a size 12 (and beyond) and you have to stock each size in each colour and style ? there?s no ?one size fits all? for footwear.? It?s a mammoth task and a very competitive industry, and time and again Taylor has watched competitors get it wrong. ?You will always encounter people, in every industry, who will enter the market and try to drive the price down unnecessarily ? either out of ignorance of the costs involved in selling, or out of stupidity ? but eventually they will fail,? she added. ?In business you need to make a profit in order to succeed, or else you?re just a busy fool.? Read about some other inspirational growth stories:- Pop-up bars, fabulous cocktails, and the ?growth mind-set”
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