Isabel Pritchett fondly remembers her first job at Pier 1 in Solon. "I loved working in retail," she says. "I was so excited to work and help customers." Pritchett found her niche in the industry, eventually moving from home decor to clothing. "I am obsessed with clothing and style," she admits.

Years in the retail industry provided Pritchett with the training to understand customer service and sales. By 2008, she was ready to give it a go with her own store, and opened the clothing shop Sanity in Chagrin Falls with her husband, Kevin. "I realized that opening my own boutique was the only career path that made sense for me," she says.

The excitement of starting a business is usually coupled with the anxiety of making it thrive. Even the most prepared entrepreneur can be thrown by unforeseen circumstances. Adapting to such conditions is paramount to success. "Sanity had initially opened as a boutique with higher-end price points. The market took a nose dive not too long after we opened, and our customers weren't spending $250 on one shirt anymore," Pritchett explains. "We knew that if we wanted to stay in business, we had to change our prices -- and quick -- so we began seeking out new lines with lower price points." The strategy worked and Pritchett says she is wiser for the challenge. "Each hurdle is a learning experience and an opportunity to improve and grow."

Understanding what patrons want -- not what you assume they want -- is another key factor in succeeding in retail. "Listening to my customers and keeping an open mind are always important," Pritchett says. "Their style and what would look good on them goes into every buying decision I make. The season is a large factor, too, and specifically what will be on trend for that season. Colors and style trends are a big factor, but also keeping our weather in mind."

Pritchett uses social media to expand Sanity's potential customer base. "We have a lot of events at Sanity, so social media is a great way to get the word out," she says. "We will also do pop-up sales on social media, so following us on Facebook or Instagram gives you an insider's look into what's going on."

What it takes to succeed

"The most important skill, I believe, is efficiently managing your time and money," Pritchett says. "Without that, you won't be in business for long." Leadership is another important trait for the retail business. "Leadership isn't just setting the stage for employees; it is creating a culture where your employees are excited to work because they see your vision and make it their mission. They want to make each and every customer comfortable and happy just as you would." Finally, Pritchett says, lose the fear of failing. "I always tell my employees: The worst thing someone will say to you is no, and then you move on."

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