5 Ways to be successful as a fashion brand
The first year of every business is always tough stuff. This guide is to help you get your priority right. in your first year, some of the cost you will incur may include branding, pricing, samples, manufacturing, marketing plan, sales plan, and a cash flow plan. for the website, you have got micserah relax 😀
To make a business successful and profitable your revenue needs to surpass your expenses. Seems simple, but it takes strict financial planning and strategy to take advantage of every Naira spent.
As a fashion brand, you are probably working from home or personal office, right? it’s cooler if you are working from home as being able to work your own hours, wear pajamas all day while enjoying the freedom of doing what you want, when you want is a great perk of being an entrepreneur.
While all of these looks great and awesome, it’s easier said than done and before you know it, you can get punched in the face.
If you are looking stay ahead of the game and successful you might have to observe these important 5 business rules:
1.Be true to yourself. No matter how much money you are making, if you know deep inside your mind that you are not satisfied with the process your products follow through production or not 100% happy with what you are doing and how you are doing it, then don’t do it. If you run a business you don’t like or don’t believe in, even if you have temporary success, it will come back to haunt you one way or another.
2.Miminimise cost as much as possible. Make a list of all the plans for the year and all the actions you think you will spend money on (marketing, photo shoots, and raw materials etc.) then start to rank them in order of costs and potential revenue (it’s tough to know exactly in year one what will make you money). Focus on only the top 1-5 product range. A lot of fashion Brands waste tons of money doing a lot of marketing activities poorly.That’s why it is wise to leave much of marketing and sales to a marketplace and concentrate on what you know how to do most which are making quality products and delivering.
3. Be true to your customers and prospects. Don’t promise what you can’t deliver. Don’t lie or exaggerate the benefits of what you sell and always deliver a quality product or service. Word-of-mouth marketing has always been one of the primary ways that fashion brands find customers. The Internet and social networking sites spread the word (good or bad) to even more potential customers. Please don’t exaggerate in the product description on write what the product can actually do or how it is and always deliver on time as promised even when you can not deliver on time always make it up to the customer. and also remember you can not control the reviews people leave on your store page on micserah.com and the better review you get the better ranked your store will be on our website.
4. focus on your product line. Start small with one product line – then develop the brand from there, in a way that feels consistent and carries forward the same design Prototype. A lot of people are running away from made in Nigeria simply because they believe enough attention are not being given to production and also that it’s always too expensive to buy.
Setting the right price for your product is crucial in finding success. Work it out by starting with the amount that a customer would be willing to pay, start small by being contented with little profit at the beginning.when you have gained the loyalty of your customer you will make more money.
I’m not disputing it, good reviews are nice to have, but always remember the only thing that will sustain your business is sales.
5. Be innovative. If your competitors are doing it, don’t. Stand out from an overcrowded marketplace where so much of the advertising and products look the same.
All the best
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