If you are just starting out in the clothing industry, it is important to be both vocal and receptive in terms of shared knowledge and experience. In the clothing industry, separating good advice from bad advice is an essential skill, but feeling comfortable enough to seek out the advice in the first place is paramount. In this spirit, here are five helpful tips to keep in mind when starting your own clothing business.
1. Make Sure You Allocate Your Cash Where You Need It The Most
What’s more important, marketing or filling orders? The answer to this question should be obvious, but if you allocate all your resources for the latter then what happens when it comes to marketing and advertising? The solution here is to develop an incremental strategy where you are first and foremost filling orders while simultaneously saving enough money for future advertising and marketing plans. Here, the next step will prove to be very useful.
2. Develop an Effective Plan of Action
Having a strong business plan is essential to any successful business. Consider the example above–having a well-developed business plan will enable you to effectively allocate resources appropriately while at the same time developing a strategy for future endeavors. Thinking ahead, this is a great way to develop trust with potential investors, as it will demonstrate to them that you are serious about the success of your business, making them more likely to put capital behind your ideas and designs.
3. Do Not Ever Present At a Trade Show You Are Unfamiliar With
Knowing what to expect when presenting your collection to potential buyers and peers is important, therefore attending a trade show prior to presenting your collection there is an effective strategy for navigating the industry like a pro. Familiarizing yourself with the way the show works will help you decide what shows to attend and in what ways you could allocate your resources most effectively. Additionally, it is a great way to put your thumb on the pulse of the industry by getting a taste of what buyers want and what is popular and incorporating that sense into your designs.
4. Poor Online and Social Media Presence
Let’s face it, everything is becoming exponentially digitized. Being present in the online environment is crucial to reaching a wider audience and maximizing your chances of success, this would include having both a company website and pages across social media supporting your brand. In the clothing industry, limiting your sales and recognition to your local community is a sure way to drive your business into the ground.
5. Getting You Family Too Involved in Your Business
Getting your family involved in your business is never a good idea. It creates anopportunity for conflict and favoritism and makes it harder for genuine work to be done. Especially when starting out, it is important to keep hard work in perspective. This applies whether what you are selling is a pink Eye Map Ness shirt or something with more glitter.