The question every business wants to know is will they achieve success, and that's no different for fashion startups. During my consultations and mentoring sessions, I get asked a lot if I think a client's idea is a good one, so here are my tips on success for fashion startups.
1. Have Belief.
First and foremost, you need to believe in your idea, brand and product. If you're feeling half-hearted about it then it's not the road for you. The clients who have most success are those who relate to a passion in their life. You might be a gym buff who's dream is to see your brand worn in an athletic setting. Or how about your passion for yoga? Do you live in your studio apparel and want to launch your own line?
Starting up a new fashion business takes courage, determination and commitment, so make sure you're choosing something that will spur you to keep going.
2. Understand Your USP.
In business circles you'll hear that you need a U.S.P. to become successful. But what is that and how does it relate to fashion? A unique selling point is something that sets your brand apart from the rest of the world.
This U.S.P. can come in lots of different formats and relate to both the product and the business. Some examples of what can make a business unique are:
your products fill a gap in the market
your prices bridge a gap in the market
the way you sell is different
the types of fabrics you use are unique
your brand supports a charity
your brand is ethical in trade and manufacturing processes
your brand is eco-friendly, organic or fair trade
3. Innovate.
I'm always amazed by my clients when they come to me with an idea for something totally new, that's never been seen before.
Innovation is a great way to boost your success. If you've tried to buy a product and couldn't find it, then you've identified a gap in the market to fill, and that's half the battle. Chances are, you're not the only person looking for that product, and there is an untapped marketshare waiting to buy it. You just have to get it out there!
Clothing that includes new technology or fabric development
Garments that perform a function
Apparel that is for a certain age, size, body type
Clothing that solves a problem
4. Be an improver.
Another set of clients that do well with their startups are those who take an existing idea but make it better. Perhaps you love a particular type of apparel but wish there was more choice on offer. Maybe you feel certain brands or markets are lacklustre and need a boost or refresh. You might already use a type of product and realise it doesn't quite perform how it should. These are all things you can improve upon by:
Making garments fit better
Manufacturing with more premium fabrics
Offering a better choice in styles
Improving how a product performs eg. in the gym or outdoors
Giving customers more accessible price points
Injecting fashion into a stale market
If you have an idea for a fashion startup, and want to chat with an expert or get help starting, just get in touch for an initial consultation here or drop me a line info@thefashionexpert.com
Michelle Ramsay
The Fashion Expert®
www.thefashionexpert.com