Check out our video teaching series to help you grow your fashion brand for people, planet, and profit. Today we discuss the top 5 rookie mistages made by new fashion brand startups. Listen and learn so you can launch your business the right way.
1 | Selling to Everyone
Most brands make this mistake because they ar e scared to miss any potential sale in the early days if their business. But you must remember when you are selling to everyone, you are selling to no one.
We live in a niche world and a noisy market. So the only way you will get your customer’s attention is by speaking directly to them. This is why understanding your customer is so important. Because that will determines where you engage with them, the manner in which you speak, and what you offer. Just focus on that one target customer and then let that customer find more customers for you.
2 | Having Too Many Products
Again with the niche world! Traditionally in fashion, you’d start with a small capsule if 8-12 pieces to showcase your full range and style for your customers, but today that confuses them and wastes your time and money.
What’s better is to launch super focused on one super star product, rise in popularity, and then diversify in your product offering. Less is more. Mansur Gavriel is a great example of this. The Mansur Gavriel signature handbag paved the way for where the brand is now.
3 | Not Having Enough Capital
Double your planning because something WILL go wrong in your planning that will derail your budget. Incorrect samples or delayed shipment, etc. So plan for that to happen so you are prepared when it does.
4 | Not Planning for Enough Time
Just like you need more money that you think, you’ll need more time too. Getting your first samples right with a new factory takes time. You have to ship fabric samples back and forth, wait for changes to be made.
Do not be one of those designers that thinks they can give a factory a design and expect the production to be in their hands in 2 months. It will not happen. Best case scenario and all goes as planned, you’ll get your samples and product early. But better early than late!
5 | Having No Plan
How will you be managing your social media? How will you be selling your product? If you’re selling wholesale, who are you selling to and how are you building those sales?
No longer do we live in the days of if you build it they will come. You will more likely launch your website and hear crickets. It will take time to build up your brand awareness, website traffic, and sales.
Now that you know the top 5 rookie mistakes made by startup fashion brands, I want you to start your brand off like a pro. But, if you simply don’t want to do this alone, join Deadstock District today and get connected to other professionals running fashion brands, find resources and learn how to grow your brand for people, planet, and profit.
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