EP#53: Walking Away to Earn More with Jay Fanelli from Cotton Bureau
Wait, it’s June already?
This year is flying by, and with it already being the half-way checkpoint of the year, now is a great time to stop, take a good look at your business, reassess the goals that you set for yourself at the beginning of the year, and possibly readjust. Even I have a few things I want to tweak, and will share my learnings with everyone. Feel free to sign-up to my newsletter if you are interested in learning more.
But, I digress. In today’s show, I invited Jay Fanelli, co-founder of Cotton Bureau. He has already faced the task of readjusting and transitioning his business and has a very interesting story and a great blog, which I encourage you to read (http://blog.unitedpixelworkers.com/2014/11/05/closing-up-shop).
[Tweet “By pulling the plug when we did…we’d rather do it too early than too late @fanelli @cottonbureau”]
Through the blog, he announced that his previous business, United Pixelworkers, a t-shirt company, had to close up shop. Because they had a big fan base, they had to explain everything to their customers honestly and rationally: that takes a lot of courage. Through this process, he transitioned and opened Cotton Bureau, a platform for designers to sell their products.
So, how can you assess when it’s time to call it quits and possibly start fresh? How do you go about making the transition? I wanted Jay to share his personal story with us, so if you’re faced with the same tough decision, you know how to go about making adjustments smoothly.
[Tweet “Being honest with yourself, I think is the most important thing @fanelli @cottonbureau”]
In today’s episode, we’ll also discuss with Jay:
- His background story on how he got started in the T-shirt making business, and why he decided to be so open on the blog with their fan base when they decided to close the United Pixelworkers.
- The history of United Pixelworkers, and when/how they decided to close up shop to shift their attention towards a new business.
- The biggest challenge of making such a transition.
- What questions his team asked themselves, and some of the pro’s and con’s they faced.
- The type of goals he set for the new business, Cotton Bureau.
- How the team was able to transition into new business and how they brought along their previous fan base.
- Recommendations for other businesses trying to assess their progress and achievements this year.
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