As 2021 comes to a close, our team took a moment to look back on the past 365 days to celebrate our wins, learn from our mistakes, and revel in the joy of running this rad, women owned and operated business. Before jumping into the numbers, here are some takeaways we asked our founder Emily Katz to reflect on:
What was the biggest lesson learned in 2021?
Emily: We had a few very expensive lessons this year, mostly around supply chain issues and spending money on directions that in the end didn't totally pan out. The take away from it for me, was that no matter the size of your business, you will always make mistakes. They tend to have more 0's behind them (LOL) but they are all opportunities to grow and learn to do better or differently next time. I dropped out of art school, but this year has felt like a crash course MBA.
What was the biggest mistake of the year?
Emily: Spending money on advertising. We were told by many different sources that all we needed to grow was start advertising more. We hired a company to manage it for us and even though they were well vetted, in the end, we realized we were doing better on our own.
What was your favorite achievement?
Emily: I always dreamt of opening a store, and this year we did it! With A LOT of help from the team. We have had our shipping back in house for an entire year, thanks to Courtney, our wonderful fulfillment manager, so we have had a year of being able to offer a higher quality of care to our customers, which is truly meaningful for me. We tried a lot of new things, and some stuck and some didn't, and we are ready for 2022 to be the best yet.
And that's a wrap. Thank you to everyone who has been a part of this year!
See you next year ;)
Emily and the Modern Macramé Team