With a history steeped in resilience, learn how an iconic shoe company survived obstacles big and small. Here are practical tips on how to use their strategies for your own small business success story in 2023.
In the realm of survival, the first rule is to stay alive. As a small business owner, the struggle for existence can feel relentless. Birkenstock serves as a guiding light for all small businesses, illuminating the importance of perseverance, exceptional products, self-worth, and the potential for greatness.
According to a letter accompanying their offering application, Oliver Reichert, the CEO of Birkenstock, draws a connection between the brand’s founding in 1774 and its present-day aspirations. Mr. Reichert proudly declares Birkenstock as the oldest startup on Earth, backed by a family tradition spanning over two and a half centuries. Their business possesses the resilience, timeless relevance, and credibility of a multigenerational enterprise.
These shoes were introduced to Americans by a German woman who stumbled upon them during a visit to Germany in the 1960s. Filling her suitcase with these unique shoes, she attempted to persuade American retailers to sell them. Although traditional shoe stores rejected the idea, health food stores embraced the Birkenstock shoes. They quickly gained a following among young individuals in search of an alternative lifestyle.
Currently, more than half of Birkenstock’s sales stem from the U.S. market. With a distribution network and an expanding online store, the brand directly reaches customers in over 75 countries.
The story of Birkenstock exemplifies valuable lessons for small businesses. First and foremost, it showcases the vital role of perseverance. Despite facing initial setbacks and rejection from traditional shoe stores, Birkenstock persevered and successfully tapped into an untapped market. This demonstrates that not all businesses will achieve immediate success, but by staying persistent and having unwavering confidence in your product, success can eventually be attained.
Additionally, Birkenstock’s story highlights the significance of discovering your unique selling proposition. In Birkenstock’s case, it was their distinctive shoe style that resonated with a specific market segment. For small businesses, identifying what sets your product or service apart from the competition can be the key to standing out and attracting customers.
Furthermore, Birkenstock’s extensive online presence reaching people in over 75 countries illustrates that small businesses can have a global reach by embracing digital platforms and strategies. Therefore, it is crucial for small businesses to invest in their online presence and explore avenues to connect with a global audience.
Undoubtedly, there will be challenges and obstacles to overcome. However, with its rich history surpassing the age of the United States itself, Birkenstock is determined to find a path forward. It serves as an invaluable lesson for many businesses in our industry.