America is dwelling to hundreds of thousands of immigrants who journey from all elements of the globe, all for one aim – to have a style of the American dream.
Initially from South Korea, Do Gained Chang and his spouse Jin Sook, the highway to the American dream was not all rainbows and butterflies, nevertheless it was completely price it. Do Gained Chang and Jin Sook now personal the multi-billion greenback trend model, Forever 21.
5 Classes From The Story of Eternally 21
Eternally 21 is dubbed as one of many quickest rising trend retailers on the earth. They’ve 470 shops worldwide they usually purpose to develop extra within the coming years.
For the husband and spouse group, their American dream is Eternally 21. Jin Sook and Do Gained Chang proved that the American dream will not be unimaginable, that it may be achieved for those who work onerous and put within the time.
Chang as soon as stated, “Eternally 21 provides hope and inspiration to individuals who come right here with nearly nothing.”
Listed below are 5 inspiring classes which you could get from the unimaginable rags to riches story of the founders of Eternally 21.
1) Huge Issues Begin Small
Do Gained Chang was born from a low revenue household in a small district in Seoul. With little prospects and no indication of a greater life, at 21, Do Gained Chang and his spouse determined to maneuver to the US and search extra alternatives.
The couple arrived within the US with nothing. Armed solely with a highschool diploma from a overseas nation, they needed to work three jobs to make ends meet.
Do Gained Chang explains:
“I attempted all the pieces once I first arrived in America: dishwashing, cleansing, working part-time at a fuel station. I attempted my hand at no matter bodily demanding jobs I may get. Then I received considering trend and determine to start out a trend enterprise.”
With onerous work, the couple was in a position to save up some cash sufficient to open their first retailer in Highland Park, L.A., it was initially known as Style 21. Through the years, the corporate has grown right into a full-blown retail big.
Earlier than they made it massive, the couple encountered many struggles and difficulties. Nonetheless, they understood the which means of sacrifice and resilience. If you wish to be a profitable entrepreneur, you must possess these two qualities.
2) Success Takes Time
Within the phrases of Do Gained Chang, “You’ll be able to’t go into enterprise considering that success will come to you in only one or two years.”
‘Making it massive’ within the retail enterprise is very troublesome for those who’re an immigrant. With the potential of components affecting your corporation like language barrier and tradition distinction, you’ll have a restricted clientele.
Chang and his spouse have been affected person sufficient and earlier than lengthy, they have been in a position to acquire loyal prospects exterior the American Korean inhabitants.
Other than persistence, Chang recommends that entrepreneurs examine the business they’re in and the way enterprise works. Data of authorized tradition can also be essential to achieve any enterprise enterprise.
Nothing comes simple in enterprise. Chang waited for 3 years earlier than he and his spouse have been in a position to open their first retailer and much more time for it to progress. Success involves those that know learn how to patiently reap outcomes.
3) Get to Know Your Goal Inhabitants
“Our goal prospects are individuals of their 20’s. Previous individuals needed to be 21 once more, and younger individuals needed to be 21 endlessly.” – Do Gained Chang
The truth that Jin Sook and Do Gained Chang moved to the US at 21 could have influenced their enterprise identify however the thought behind the quantity is what’s extra necessary.
One of many secrets and techniques to their success is a transparent imaginative and prescient of who their goal prospects are. This is among the most necessary issues that the majority entrepreneurs neglect about. Strolling a thousand miles of their buyer’s sneakers.
If you’ll be able to decide who your prospects are, you may design services and products based mostly on their preferences. Over time you’ll construct a strong buyer base.
4) Be Persistent
Success for the Changs didn’t come with out struggles. From the very starting, they encountered plenty of hardships and even once they have been already established, larger issues got here in.
Eternally 21 has repeatedly been bombarded with copyright points and lawsuits however the firm has surpassed all of them. An financial downturn additionally occurred as the corporate was nonetheless on the method of growth and though they did must trim down the variety of shops, they survived the recession.
For Jin Sook and Do Gained Chang, persistence is the important thing to success. In the event you persevere something is feasible, even throughout essentially the most troublesome occasions.
5) All the time Be One Step Forward of Your Rivals
The husband and spouse group didn’t let their restricted tutorial background cease them from intently analyzing their opponents. The Changs understood that for his or her enterprise to succeed, they needed to standout from different retail shops.
First, they seen that different retail outlets offered too costly clothes they usually noticed this as a possibility. Eternally 21 remade high-end garments into high quality variations however at a a lot inexpensive value. Folks seen this and shortly the corporate gained a strong following of shoppers.
To succeed, you must be a tricky competitor. Research your competitors, discover their weaknesses and use that to your benefit.
Wrapping up
Jin Sook and Do Gained Chang are actually inspiring individuals. They have been immigrants who first got here to America with goals and ambitions, now, they extraordinarily profitable entrepreneurs who constructed an organization in a overseas land.
Regardless of who you’re or the place you’re from, it’s doable to start a successful business. Have a plan, work onerous, and consider in your self.
In regard to the success of Eternally 21 Do Gained Chang says:
“That may be a reward that humbles me: the truth that immigrants coming to America, very like I did, can come right into a Eternally 21 and know that each one of this was began by a easy Korean immigrant with a dream.”