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6 Crucial Mistakes People Make When Starting a Clothing Line

StrategyDriven Business Startup Article |Starting Your Own Business | 6 Crucial Mistakes People Make When Starting a Clothing LineBuilding and marketing a clothing line these days is easier than ever with easy access to manufacturers from all over the world, private label options, and cheap marketing methods. But that also means the market is more saturated than ever, and for every clothing startup that succeeds, thousands fail. That’s just the reality of the business. However, in many cases, clothing startups with great concepts and products fail because they committed some crucial mistakes that could have easily been avoided. Let’s take a look at some common mistakes clothing startups make and how to avoid them.

Trying to Start Too Big

One of the most common mistakes is trying to start too big and having too wide a selection when getting started. Buying tons of inventory is also a bad idea.

You should only start with a handful of items, or with one signature product. A lot of clothing companies started that way and made it big. Now successful Johnny Cupcakes started by selling t-shirts with their logo on it. Jac Vanek is another example. She started by selling simple bracelets at music festivals and now owns a multi-million-dollar label. Starting small will allow you to limit your overhead and initial investment while building brand awareness.

Ignoring the Small Details

When starting, it’s important to have a solid marketing strategy and great designers, manufacturers, and distribution channels. But it’s also easy to overlook the simple things, like label design and manufacturing, for instance.

These are the kind of things you cannot ignore when you start building a brand. You want to design a label that represents you and that will leave a lasting impression. People often don’t realize how important the role labels play in a purchasing decision, but it could actually make or break a purchase. If they like your product and your label looks cheap or poorly written, it will reflect on your brand as a whole.

You not only want to work with a label designer that will be able to help you with your design and help you bring your ideas to life but you also need someone who can deliver consistent results and on time. That’s why you have to do your due diligence and work with manufacturers with a solid reputation in your business.

This label manufacturer, for instance, has worked as nominated label supplier for major brands like Calvin Klein and Ralph Lauren. That’s the type of manufacturer you should be looking for if you want to make a mark with your brand. Don’t make the mistake of cutting corners in this area – invest in quality labels for your brand if you want to give off the right impression.

Not Having the Resources

Another thing you’ll have to consider is resources. If you don’t have the resources to fulfill major orders from an important retailer, this could reflect badly on your business and you could potentially miss major opportunities. You have to make sure that you have the proper financial backing, either through a line of credit or a partner, so you can cover for any emergency. This also stresses the importance of starting small and limiting your overhead before you think of expansion.

Bad Promotion and Marketing

Yes, it’s true that social media is a cheap and simple way to market your brand these days. But it’s also very hard to stand out because of the thousands and thousands of other people marketing there. That’s why you need to use more than social media marketing and use all the options available to you. At first, you should calculate your projected revenue and spend at least 10% to 20% of it on marketing. You can then drop down to about 5% once you start getting recognition.

However, make sure that you use this money wisely and don’t assume that you need to spend tons of money on a fashion show. These can be very expensive and won’t give you much of a return on your investment. A much better idea would be to attend trade shows or have a launch party. These will give you both visibility and the chance to close some sales as well.

Not Building Good Relationships with Vendors/Stores

You’ll have to work with a lot of people when starting a clothing label and your relationships with them could play a huge role in how successful you’re going to be. You will be dealing with buyers, factories, and other businesses, all with their own agendas and timetables. So you have to make sure that you keep things cordial with them, but make sure that your objectives are met too.

If you want to sell your products to stores, you should make sure that you contact their buyer and schedule an appointment first. There’s nothing retailers hate more than walk-ins. You should also consider which stores you want to sell through at first. A bad retailer could potentially screw you over. This is why you should also have a lawyer draft proper contracts, so you’ll have legal recourse if anything happens.

Overspending

One of the most important things when you’re getting started is setting and keeping a budget. You should also avoid spending money on unnecessary things. Start learning about taxes, and how you can get deductions on things like office supplies, your company vehicle, or gas, for instance.

One of the major mistakes people make when getting started is spending thousands on a fancy website. Creating a website nowadays is extremely easy and cheap, even for someone with limited computer knowledge. Start small with a DIY website using one of the many drag and drop builders out there and wait until you have the money to have a professional site made.

Conclusion

Starting a clothing line might seem simple, but starting a successful one is a whole other ballgame. Make sure that you come prepared and have a solid plan before you even get started. And make sure that you have the proper people surrounding you that will have the skills and expertise to make sure your brand becomes a success.

5 Technical Considerations When Starting Your Business

StrategyDriven Business Startup Article | Entrepreneurship | 5 Technical Considerations When Starting Your BusinessIf you’re starting your own business and you don’t know what technical aspects you need to consider then don’t worry, you have definitely come to the right place. There are so many different technical considerations you need to think about before starting your business, working out whether or not you need to hire help in advance. Whilst it may take a chunk out of your start-up budget, you can relax knowing you’re not going to run into any problems. With that in mind, here are 5 technical considerations to think about when starting your own business:

Do You Have A Website Up And Running?

One of the most important parts of owning a business is ensuring you have a website up and running. Although it doesn’t equal success for every business, most business owners have found that creating a website has increased their visibility ten-fold. Whilst you can set up a site on your own, often it’s better to hire both a designer and a developer who can help you put together the best possible solution. For tips and tricks when it comes to hiring a website team, you can visit this site here.

Do You Need To Consider Hosting And Servers?

Although this may sound a little too technical, you need to think about both hosting and servers, especially if you have a large business. If you have a business that has the scope to grow, you may want to consider hosting your site, your data and your systems on your own server. If that’s the case, you can visit Linux VPS for more details.

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Have You Thought About Email Addresses Across The Business?

If you’re going to be hiring a team of people when you start your business, everyone is going to need their own personal email address. Whilst this may seem unimportant to begin with, it’s important you have this set up from the start to avoid any breaches of data. Alternatively, if you want to have a variety of different inboxes depending on the enquiry, you will need to have separate email addresses for each inbox. For more information when it comes to setting up several email addresses at once, you can visit this site here.

Have You Considered Security And Protection?

When it comes to technology within your business it is important you’re doing everything you can to protect your data and your IT systems. Whether this means downloading antivirus and malware software or taking precautions when it comes to GDPR, you need to be sure your business is technologically safe.

Are You Going To Be Using Social Media?

Finally, are you going to be using social media within your business? Whilst this may not be considered a form of technology to some, using social media to grow your business requires a lot of knowledge when it comes to tech. Whether it’s setting up your accounts, building a following or using ads to reach new customers – you need to have a certain level of skill in order to use social media for business.

Are you starting a business soon? What technical considerations do you need to think about before you get started? Let me know in the comments section below.

Top Tips For Starting A Construction Business

StrategyDriven Starting Your Business Article | Top Tips For Starting A Construction BusinessStarting a construction company can be a smart move. There is always a need for skilled construction companies and it can be work that is incredibly rewarding and enjoyable, plus you will find that every project is different so it can be varied too. While there are many perks to starting a construction company, you will also find that it does pose a few challenges and it is quite different to starting a typical office-based business. With this in mind, read on for a few tips that will hopefully help you to hit the ground running and find success.

Secure Enough Funding

One of the biggest challenges for starting a construction company is securing enough funding. There are many startup and ongoing costs to cover, such as vehicles, equipment, staff, materials, marketing and insurance. You need to have a high-quality business plan in place, calculate your startup costs and then find ways to secure this funding. A few options for securing funding include:

  • Investors
  • Bank loans
  • Crowdfunding
  • Grants
  • Savings

Recruit The Right People

One of the biggest challenges when starting a construction company is recruiting the right people. Obviously, you want to find people that have the required skills and knowledge to take on different kinds of projects, but this is not the only consideration. You also need to make sure that you are recruiting people that will be a good fit, have a strong work ethic, good communication skills and the right personality for your business. Keep in mind that you can use training to bring people up to speed, so it is smart to focus on finding those that will be a good fit.

Rent Heavy-Duty Equipment

When you take on construction projects, you are likely to require heavy-duty equipment like cranes for lifting. You will find it best to rent this equipment from specialists, such as Birmingham crane hire companies that can provide you with industry-leading equipment for affordable prices. They will be able to make the best recommendations based on your needs and ensure that your projects go smoothly.

Create A Strong Online Presence

As with any industry, you need to have a strong presence online in order to win over potential clients and compete with other companies. You should invest in professional web design and digital marketing to create a strong presence for your brand and then use social media to promote your business, showcase your work and engage with potential customers. It is hard when getting started, but you need to build an online portfolio of your work that will help you to show your experience and what you are capable of.

Encourage Word-Of-Mouth Marketing

Word-of-mouth marketing remains hugely important when it comes to construction, so you need to encourage this within your network in order to find new opportunities. You will also find it helpful to network at every opportunity to build brand awareness and to form important connections that could lead to more work down the line.

Hopefully, these tips will come in useful and help you to find early success with your construction business.

3 Essential Tips to Launch Your StartUp Venture

It’s no secret that starting a new venture can be scary. You’re putting yourself out there, taking on more responsibility, and working longer hours to get your company off the ground. But where do you start? What are some of the best ways to launch your startup?

StrategyDriven Starting Your Business Article | 3 Essential Tips to Launch Your StartUp Venture

1. Develop a Business Plan

Your business plan is your map. It’s a guide to keep you on track and ensure that all the goals and procedures stay consistent throughout your company.

A good, solid business plan can help:

  • Show investors what they’re getting into. This will give them an idea of the time frame for their returns and how much money they should expect to see in return by investing with you.
  • Help get funding from other sources such as banks or venture capitalists. Banks especially like funding businesses that have already done the research and written plans about where they want to go next, so financing could be more accessible when everything is laid out in black and white.
  • Keep employees organized and responsible because people can easily see what’s expected of them and how they’re supposed to be doing their jobs.

2. Secure the Necessary Funding

A lot of people are under the impression that you need to have millions to start a company. This isn’t necessarily true; however, it can be helpful if you do happen to have several million dollars at your disposal. Of course, there are other ways for entrepreneurs who don’t have quite as much money on hand. These include:

  • Personal savings: Put up some cash from your bank account and use it towards building or buying what’s needed for your business venture. It might take months before things begin turning around, but this is certainly better than not trying at all!
  • Crowdfunding: Ask friends, family members, neighbours — anyone willing -– to invest their hard-earned money into making your dream company become a reality. This can make the difference in getting enough funds to purchase things like office supplies and marketing materials when you’re starting.
  • Gaining investors: If you’re unable to secure enough personal savings or crowdfunding, then try investing your time into seeking out investors who are willing to support your cause. These could include venture capitalists like Jorge Hank, angel investors, or even family members who believe in you and what you’re trying to build.

3. Build a Responsive Website

The internet is a massive resource for people looking to find new companies and buy products online. Whether you’re selling T-shirts or physical goods, having a unique eCommerce website will do wonders for your business’ success. It’s how customers communicate with you and where they’ll be able to choose their orders as well as track shipments down the road. Having a responsive site also ensures that all of your visitors can easily see what’s going on whether they’re using smartphones, tablets, laptops, or desktop devices – it doesn’t matter! You want everyone across your company to have access to information about what you offer, no matter where they are in device usage.

In conclusion, starting a new company can be scary, but it’s also an exciting time. With the right amount of funding, knowledge on what you need to do, and being patient with your business as it takes off — you’ll have plenty of success stories in no time!

Why do Most Start-ups Fail? Find out Here

If you want to make sure that your start-up has the highest chance of success, then you need to make sure that you have a solid plan and that you also take the time to avoid some of the top mistakes that most entrepreneurs make. If you want to find out more, look below.

A Poor Market

A poor market is one of the biggest reasons why a lot of companies fail. It may be that you don’t have a compelling value proposition or that you don’t have a compelling reason to make your buyer purchase your product. Good sales reps will often tell you that if you want to make a lot of sales, you need to have a product that people need to have, as opposed to one that they want. If you want to make sure that this is the case with your product, then you need to take your time when planning out your business idea. You need to make sure that you have analyzed your competition, and that you have an edge. If you do not have this edge, then everything will work against you.

StrategyDriven Starting Your Business Article | Why do Most Start-ups Fail? Find out Here

Model Failure

Another mistake that a lot of entrepreneurs make is that they are far too optimistic about how easy it is going to be for them to acquire new customers. They assume that if they make an interesting website or service, that customers will come beating on their door. This may happen with your first few customers, but after that, you may find that it is a constant uphill battle to get more. You have to make sure that you are acquiring customers for less money than the sales you’re making. If you want to do this, then you have to make sure that you work out the true cost of customer acquisition. This is the best way for you to come out on top.

Bad Management

Next up, bad management. If you have a poor management team then they may have a weak product. They may end up making a product that nobody wants to buy because there wasn’t enough time spent on the research and development stage. They may also be very poor at execution, and this can lead to products not getting made properly, or on time at all. This will trickle down your business and it will make it much harder for you to generate a good income.

Running out Of Cash

When you start a business, you have to make sure that you plan out your expenses. It may be that you need Metrology Parts or that you need to invest in a commercial space. Either way, you have to make sure that your expenses are never more than the income you have coming in. Many start-ups don’t plan out their expenses as well as they could, and this can lead to major issues. Take the time to plan out every single thing you need to buy, and then work out a profit plan to get your business to where it needs to be.

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