We were lucky to catch up with Mark Wallis recently and have shared our conversation below.
Mark , thank you so much for making time for us. We’ve always admired your ability to take risks and so maybe we can kick things off with a discussion around how you developed your ability to take and bear risk?
Throughout the years in the retail and wholesale industry I have had big successes and some failures. Failures are necessary in order to develop and learn, and to discover that taking risks is important if you want to grow as an entrepreneur. When I left the corporate world and started my own company, I knew not only was I taking a risk, but I wanted to do it differently than what existed in the industry. I wanted to do more, both for the retailers and the brands that I work with, than simply selling product. I wanted to be integrated with the brand, help them grow, put the brand first, and make sure that retailers were purchasing the right products that were going to sell and often help them gain exposure.
The wholesale industry has been moving in a direction of self service and B2B websites, that use perks to draw retailers away from interacting with brands and people. If the industry was moving in this direction, was it a risk to start a business that relied on having human interaction to sell? Yes, but was it the right decision, absolutely. Similar to how many small retailers believe large e-com retailers are hurting small business and removing human interaction, B2B wholesale platforms are doing the exact same thing to small businesses in the industry and many brands. I believe we need human interaction more than ever, and relationships are so important in sales. Good sales people can help retailers curate, and potentially avoid products that may not turn as quickly.
I know that I won’t always get it right, but if I take a risk and do something different it will either be a big win, or i’ll learn something valuable to help me long term. Retail and wholesale is full of risk and I feel like the risk takers are the ones that are winning. I can see this in the brands that I work with, through continuing to produce innovative new designs, and in many of the great retailers I work with through adapting and evolving.
Thanks, so before we move on maybe you can share a bit more about yourself?
When I was young I worked in retail, and continued to do that throughout University. I loved customer engagement, so when I finished my post secondary schooling, I knew I wanted to pursue sales as a career. My degree in psychology helped me work with people, and was more beneficial to my chosen career than I had originally thought. I worked with a few large wholesale brands, and eventually decided I wanted to start my own sales company, Wallis & Co. My company was positioned to help original brands expand in the North American marketplace. Wallis & Co works with a select grouping of global brands, to bring quality design to retailers. Our retailer relationships are big to small, and allow us to curate product to ensure the right retailer is seeing the right potential brands. I value my retailer relationships, many have become life long friends, and we work with some of the best retailers in the world.
Looking back, what do you think were the three qualities, skills, or areas of knowledge that were most impactful in your journey? What advice do you have for folks who are early in their journey in terms of how they can best develop or improve on these?
Be Yourself: I talk to my retailers like I would talk to my friends. I engage with people sincerely and honestly. I don’t believe in selling product that is not the right fit for the retailer. I focus on product that I think will turn well in their stores. I also work with my brands in an open manner by relaying feedback and offering as much support as needed, whether through product development, consulting, or finding new ways to drive business.
Know the Industry: Over the years I have learned to listen. There is a wealth of knowledge in the industry and if you listen to your retailers, you can decipher what they are looking for. If i’m hearing about the need for certain products, new buying patterns, or specific design requests, I can often help my brands develop into that area, depending on their expertise.
Be Open to Change: Retail changes frequently. Whether it is changing trends, or customers gravitating to different products, things keep evolving. Wholesale is evolving based on the changes in retail. Tradeshows used to be the go to resource for reaching customers, and there is still a place for tradeshows in the industry, but other avenues have become dominant. Social media plays a part, and there are always new ways to engage with your customers.
One of our goals is to help like-minded folks with similar goals connect and so before we go we want to ask if you are looking to partner or collab with others – and if so, what would make the ideal collaborator or partner?
Collaboration is import to grow. I’m always looking to support new retailers in their quest to find quality products, open to talking with new brands, and I am open to collaborating with other sales people in the industry. If anyone is looking to connect, please visit my website at www.wallisandcompany.com.
Contact Info:
- Website: www.wallisandcompany.com
- Instagram: wallisandcompany
