Fashion business information, advice, guidance, and education for fashion brands
I'm not looking to raise money or bring on investors so why do I need one?
This is usually the response that we get when we ask designers if they wrote a business plan for their new start-up fashion brand.
Quite frankly, I don't blame them for thinking this way, I myself thought the same until I started my fashion brand.
When did being busy become the new measure of success?
How many times you heard someone says 'I'm so busy,' yet you couldn't stop but thinking, what are they so busy with???
Feeling busy makes someone feel successful and accomplished while giving others the impression that that person is indeed successful....more so, they might even envy them.
When I first heard about cash flow in relation to my fashion business I thought to myself: What does it have to do with fashion??? I went to fashion school not accounting, right? ....Just checking.
And my ego added: I have a great style, people love my designs, they'll buy them and my brand will be successful...
As I mentioned before...I made quite a lot of mistakes with my fashion brand and paid heavily for them, the above was one of them.
What is cash flow?
Cash flow is the net amount of cash moving into and out of a business.
Last week we looked into answering the big question of How Much Does it Cost to Start A fashion Brand, this week we’ll tackle the question of How Long Does it Take to Launch A Fashion Brand?
Similar to cost, the time question does not have only one answer and the answer depends on different aspects of your brand, such as your product, your target customer/ market, your commitment and availability (time and money), your business concept, business strategy and more.
I am currently reading the book Great By Choice. In this book the authors, business researchers: Jim Collins & Morten T. Hanson, enumerate the principals for building a truly great enterprise in fast-moving times.
What are the key points for building a successful business? Is it innovation? Do you need to be a geniuses leader who can predict the future? Is it a question of money?.....Is there a secret that we should all know of?…… maybe it’s just pure luck after all???
