Sashen even attributes all of his good fortune to luck. He felt lucky when he met his primary business partner and future spouse, via a chance meeting at a friend’s party. He felt lucky when he discovered his future product officer, via a chance meeting while walking his dog. He felt lucky when his company gained massive attention, via two appearances on Shark Tank.
“Xero Shoes are genuine, legitimate. We don’t need to create ways to differentiate our product… it actually IS different!” It was Lena Phoenix’s attention to the math which navigated Xero Shoes through very turbulent, financial waters. One example is what they call the February problem. Inventory needs to be paid when it leaves port, so the cost hits in January, but sales can’t be made until the material is received, usually in late February. Another problem is finding capital when the COVID upheaval in the markets caused many sources of debt financing to stop offering those financial products.
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