According to many frameworks, goals shouldn’t be editable. Having consistent, unchanging targets keeps you honest and focused in your efforts. That said, for First Peak, 2024 was the year of the pivot; the year that I threw my set goals out the window, in search of a new path. Here’s how it went down:
At the start of 2024, riding a surge of energy coming out of the prior holiday season, I set ambitious goals for First Peak. I lay out a path to double sales for the second year in a row, fueled by investment in marketing and scaled sales channels.
But just a couple weeks into January, as I rubbed my very pregnant belly, I realized that another significant growth year may not be the right target. By the time by second baby arrived in February, that hunch felt all the more material: I cared deeply about the health of this business, but I simply didn’t have the mental or physical energy to push full-force toward growth.
As with all things parenting, a compounding load of responsibilities necessitated re-prioritization and efficiency. Rather than focusing on growth, I wondered, how if I instead prioritized profitability? My business was just about to enter its third year, and I saw big opportunities to tighten up the fundamentals. I felt deeply motivated to find a path forward for First Peak that could fit alongside my growing family, while also starting to stand on its own two feet. Even though changing goals felt like a concession in some ways, my new focus felt far more aligned with my personal circumstances.
Not to give too much of a spoiler, but it worked! As we go into our final weeks of 2024, I’m proud to share that First Peak reduced costs by 35% this year, while just exceeding sales from the prior year. We’re squarely “in the black,” with ideas of how to further optimize (and grow) going forward. Here are the top three strategies that made a difference:
Find the right partners
It may seem obvious, but it’s proven true time and again that people matter. Some of my biggest sunk costs in prior years came from manufacturing errors, delays, and miscommunications. This year, I focused significant effort on finding quality manufacturing partners at each step of my supply chain. But finding them was just step 1; I also invested in each relationship, getting to know the people I was working with, and sharing more of my own story and goals.
Of all the strategies in this article, I attribute the majority of our profits this year to the incredible partners — nearly all women — that I get to work with. They’ve helped me find opportunities to produce higher quality goods more reliably and efficiently, and have operated with immense expertise, professionalism, and kindness along the way.
Double down on successful products
I feel a personal attachment to every First Peak product — each one is the result of some idea or experience I had with my own kids. That said, this was the year that I held a higher standard for each item in our line. I scrutinized margins and sell-through rates, storage needs and production hassles, ultimately evaluating each SKU to identify the “winners” and “losers.” We said goodbye to bibs and small-size Ts; I doubled down on sweatshirts and flannels. These were painful decisions in some ways, but the leanness has significantly reduced operational costs, and customers have described our offering as clearer and more cohesive.
I’m able to invest more heavily in fabrics and dye cycles that work across products, capitalizing on economies of scale that only make sense with a simpler catalog. Perhaps the most pronounced example of this came in our latest launch: the Adult All-Season Sweatshirt. I’d long wanted to great a product that I and other grown-ups could enjoy, but this new perspective of efficiency and cross-product operational alignment made the launch all the more obvious.
Try alternative marketing strategies
Marketing has long been my greatest challenge with First Peak. It’s a skillset I’m less familiar with, and one that I find less energizing. It’s also an area where the greatest monetary payoff often requires significant monetary investment.
This year, I continued to experiment with no-cost strategies to introduce First Peak to new customers. I tapped into my love of writing to contribute to national publications like Travel + Leisure and Wander Magazine. I found a wonderful wholesale partner in Natural Resources, an SF-local shop and community space that now carries our Seawool Flannels all year round. I plugged in to local moms' groups, and shared about First Peak and my story with the company. In each case, I’ve been able to expand First Peak’s reach with spikes of energy investment (e.g. writing a new piece or attending a specific event), rather than a constant, expensive stream.
Now what?
In looking ahead to 2025, I haven’t yet settled on the types of goals I’ll set. That said, I’m excited to apply each of the lessons I’ve learned as I invest this year’s profits back into the business. I expect that new products, new relationships, and hopefully many new customers await.
And before I get too caught up in planning ahead, I’m also relishing the moment to reflect and celebrate. Check out this infographic of some of First Peak’s biggest wins of the year.
