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Kerstin Block is the Founder of the Buffalo Exchange, a consignment-clothing store that focuses on quality and great fashion! and only obtains clothing that is visually appealing. The Buffalo Exchange started as a 400 square foot store in Tucson, Arizona and has now expanded to over 46 stores, 3 franchises and employes 700-800 people!  In this episode, Kerstin explains the adventures of starting a business, the secret to how she keeps her employees engaged, her endeavor with franchising, and much more!

Kerstin’s Kick-A$$ Quotes:

When you have a company of 800 people, you have to be able to work through others.

You have to develop yourself so that you become a better leader. You have to be excited about what you’re doing…you have to LOVE it.
 

Books that Impacted Kerstin’s Business

The Great Game of Business: The Only Sensible Way to Run a Company by Jack Stack

The Way of the Buffalo by Spencer Block

Managing Through People by Dale Carnegie

 

Katie’s Favorite Take-a-Ways

Open Book Management: Kerstin uses Open Book Management at the Buffalo Exchange, which is the practice of sharing all the company’s financials with the employees.  Kerstin believes this is a powerful tool in her company that helps each employee be engaged in the business and care about their role. 

 

Find creative ways to generate revenue in your current business model that don’t currently exists. The Buffalo Exchange relies on fast turn-around of their items in order to keep things fresh.  Years ago, they created Outlet Stores: If clothes don’t sell after a few stages of discounts, they go to a Buffalo Exchange Outlet Store where they sell for a seriously discounted rate in a market where they will sell well.  Same products, same model…now a new step for revenue generation that benefits everyone.

 

Check out the Buffalo Exchange!

Find out more about the Buffalo Exchange and find the one nearest to you! (One of my favorite stores!)