How to avoid making launch mistakes and survive in business
You know that feeling, where you feel with every ounce of your being that you’re destined for great things?
Yeah, you know what I’m talking about.
The niggling feeling that says “I don’t want to go to the law firm to work” or “I’m way better than this stupid admin job”.
You need to listen to that feeling. That’s your calling. Your soul is telling you you’re on a path that isn’t 100% destined for you.
But what if you can’t just quit your rent-paying job and focus on your label? What do you need to do before you quit and go work on your fashion dream?
#1 Have money to invest
This can be in the form of your savings or as an investment from other people. When you start your business you will notice that for the first year or two you are constantly spending, spending, spending. Make it easy for yourself and have some funds stored away so you can survive the quiet patches.
#2 Spend your money wisely
Let’s face it, you don’t need a $20,000 website. Having an expensive website doesn’t guarantee traffic, or sales. It’s like having a retail store and decking it out then running out of money for marketing. DIS-A-STER!
Cut costs while still looking professional – you can always update certain things later.
#3 Have a business strategy!
You wouldn’t go on an overseas trip without having an itinerary or an idea of where you wanted to go and what you wanted to see. Why are you then running your business without a strategy? This is the quickest way to spend all your money on stuff you don’t need and to start making losses.
#4 Learn about marketing
To sell (and charge what you want) you need brand awareness, for people to recognise your brand and for them to desire it. How do you achieve this? Through strategic marketing efforts.
Marketing without a strategy is like trying to lose weight without a fitness program. You make an effort here and there but you don’t really see any results.
How do you learn marketing? Enrol in our online fashion business course!
#5 Learn how to price your goods properly
Do you want to work you butt of every season only to make a loss from every collection? Yeah I didn’t think so. You need to know how to price properly so that you cover ALL of your production costs AND have room for profit.
We teach pricing for fashion brands in our online course, make sure you look at the course and do yourself a favour – enrol!
#6 Learn how to sell
Everyone wants to sell online these days, because it’s easy to launch a store so people think they will create a site and BAM – millions of dollars.
If only it were that easy!
You need to consider your sales channels carefully and introduce new sales channels so that you can get regular sales every month. In our online course you will learn about sales channels like wholesale, dropship, popup shops, pop in shops and trade shows.
#7 Learn the fashion business!
You may not have the time to go work for an established label but you can learn how to run a fashion business by doing our online fashion business course. This course will give you a great foundation to launch and grow.
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