One Year In…

One Year In

It’s now been a year since I started Dodimead Horology. I’m not sure whether it feels like it has gone quickly or slowly, but it does feel like a good point to take stock of where I am, what I’ve learnt and where I would like things to go from here.

Not that I consider myself old, yet, but one thing I’ve struggled with more than I expected is technology—or perhaps more specifically, social media and algorithms. At times it feels as though I’m not really achieving much of a relationship with what is still a small audience. It can be frustrating, particularly when you’re putting time and effort into something and wondering whether it’s being seen and if the audience actually find it interesting.

But I also don’t want to employ someone else simply to give things a boost. I set about this journey on my own and, for now at least, I’d like it to continue that way. Whatever audience I build, I want it to happen organically. Throwing money at growth or handing over the social media side of the business to someone who understands algorithms better than I do might get me seen by more people, but somehow it just wouldn’t feel right.

Taking into account that this isn’t my only profession, that I have four children and that time is inevitably limited, I’m generally happy with how things are going—particularly in terms of the watches I’m finding.

The limiting factor when it comes to refreshing stock, however, is that I don’t necessarily sell watches quickly. Money remains tied up in existing stock and I have to hold back from buying other pieces I would like to buy. Cashflow is cashflow, and there are times when looking at the website and seeing the same watches still there can make me feel as though I’m not doing my job properly.

I have to remind myself that I’m dealing in vintage watches, often relatively unusual ones, and finding the right person for the right watch isn’t necessarily going to happen overnight, especially when only one year ago I didn’t have a single person in my audience.

So perhaps one of the biggest things I’ve learnt during this first year is just how difficult it is to get seen. There are an enormous number of people selling watches and an equally enormous amount of content competing for everyone’s attention. Trying to become visible amongst all of that isn’t easy and I’d like this aspect to progress organically. It may take longer than I’d envisaged, but that feels more in keeping with what I set out to do.

I’ve also learnt just how much time my own attention to detail costs me. Unless otherwise stated, the watches I sell are researched and cared for in much the same way as I would want them to be if they were going into my own collection. I find it very difficult to do things any other way. Of course, commercially, there is a cost attached to that—not just the financial cost of servicing and preparation, but the hours spent researching, checking, photographing, writing and generally making sure I’m happy with a watch and its description before offering it for sale. There are undoubtedly quicker ways of doing this.

Likewise, I’ve made a conscious decision that I don’t particularly just want to sell watches into the trade simply to turn stock over more quickly. I’d rather sell directly to the person who is going to own and enjoy the watch. For me, those relationships with customers are very important, just as they are in my other business. Hopefully, over time, they become relationships that extend beyond one transaction and help build the business into something sustainable for the future.

So, one year in, I certainly haven’t got everything figured out. There are things I’d like to be doing better, more people I’d like to reach and, naturally, more watches I’d like to sell. But I’m also conscious that I’m trying to build Dodimead Horology in a particular way, and perhaps doing it that way was never going to be the quickest route.

As I start the second year, I do need to look forward rather than simply continue doing exactly the same thing and hope for more. Plans have already been made, and there are ideas I’d like to develop as Dodimead Horology continues to evolve.

More on those soon…