It’s convenient to dismiss the importance of research. After all, when we first think of a business idea, spending hours on research is the last thing on our minds. Most would rather prefer making and selling products instantly instead of thinking about investing a decent amount of time and effort towards research. However, serial entrepreneurs and global leaders have time and again highlighted that research is critical in modern business; and the understanding of research over the years has helped most businesses advance. According to Victor Madu – CEO, For the Leaux Clothing, “The secret to success is to limit your mistakes by conducting research.”
As someone who has sold 20,000 products in over 50 states and 20+ countries, Madu believes the two things that have made this possible are his problem-solving skills that he developed and mastered over the years and more importantly, his dedication towards putting energy into the brand relentlessly. Having interacted with an umpteen number of entrepreneurs and large scale business owners from around the world, he has known people who like to have all of the answers prior to embarking on any journey, be it personal or professional; however, for Madu, experience holds utmost importance and happens to be the best teacher of all.
Other than spearheading For the Leaux Clothing, Madu has authored a best-selling business marketing guide, garnered one of the highest conversion rates for his store in the industry, and created a subscription base for his e-commerce business. But he affirms, he could do it all because he conducted thorough research in the respective fields, found out what the audience was looking for, discovered his consumers’ needs, and then ventured into different areas of work.
To this, he further adds, “My advice to others has always been to take things day by day, without rushing into anything. If you sharpen your problem-solving skills, understanding of the market, and consumer base overall, you’ll know how to tackle your business from a long-term perspective. There’s a reason why the biggest of leaders have said when you do your homework well, no hurdle can take a toll on you or sway your decision to move forward. And when it comes to our business, there’s no limit to how far we should go to ensure we grow, expand, and succeed.”
