In getting insights for this article, I was speaking to someone (who desires anonymity) that works with a fashion brand and I asked her, “at what point do you know that you have made that entrepreneurial shift and are not just seeing your fashion brand as a personal hobby or ‘passion’ but wholly as a business that you enjoy?”
After some more research, observation and interaction, I settled on one of the answers evident in every businessperson’s response and here it is:
You have made that entrepreneurial shift when you actively, willingly and deliberately spend money on getting the needs of your business met.
We can all agree that in business, we spend money on things that come up over time. However, a key differential of high-flying brands from ‘trying’ brands is the constant decision to ‘pay’ what is right for what is ‘needed’. In the context of fashion brands, that differs from brand to brand, however some things are constant and I have highlighted them below.
Neglecting this is a costly mistake for any brand. It is common to say that the way you dress is the way you will be addressed, that also goes for your social media handles. Whatever graphics and style of presentation your social handles have will have a direct say in how people see your brand and how they relate with it. Pay for quality graphics, it will portray your brand better.
New trends come up in fashion regularly and it requires designers to learn and stay skilled-up as well. When was your last training and what was it on?
- Research and development.
This is not always as big as it comes across, it simply means learning something new to make something better. What better materials can you use for your styles, what better ways can you represent your sketches, what better textiles can you use, what better suppliers can your brand patronize, how can you cut waste?
Of all responses from the successful business people that contributed to this article, perhaps what stood out for me the most is this:
As a fashion-business owner that has the growth of your brand in mind, you do not want to underpay for services. Pay what is expected and get the best quality of the work done. Pay and get it done right the first time. It improves the overall quality of what your brand turns out and is known for.
Besides spending the right quantity of money on your business needs, it is important as well to spend time in pursuits that will enrich your brand. 15 minutes daily here on Mauvelli will keep you up to date and propped with the right information and tools for your brand’s continual growth.