Starting your own small business can be scary, especially when it’s in a field as precarious and fickle as fashion. And, no matter what area your small business will operate in, it’s a hard thing to be a successful entrepreneur. In fact, some experts estimate that up to half of all small businesses will fail within the first year, which is a daunting statistic. Luckily, there are simple steps that you can take that will increase your chances of being successful. Here are three to get you started as you embark on the adventure of a lifetime in the fabulous world of fashion.
1. Shop Around for Supplies
If you’re going to produce quality merchandise, it’s important that you’re able to use quality materials. That said, you also need to make sure that you’re getting a good price for anything that you by because a new small business can’t afford to go outside of its budget. Look for reputable companies that can sell you exactly what you need at a price that you can afford. For example, if you need sterling silver chain by the foot, look for a respected company in the field like Multi Creations NJ, which can get you the supplies you need to help you make the fashion you dream of.
2. Use Your Network to Create Your Brand
You already know the importance of creating your brand and marketing it. Make sure that you are making the most of your social network to help you spread the news about your new business and getting the most out of your reputation. Use social media to create hype around your fashion and to make your brand more appealing to retailers and to online shoppers. Don’t be afraid to share your brand with industry trendsetters. Their support can make the difference between success and failure.
3. Meet Other Entrepreneurs in Your Area
Your business may be global, but you shouldn’t neglect your local customers and partners. Join your local business group or chamber of commerce and take advantage of the knowledge that other small business owners have. They can give you advice on topics such as local taxes, finding a good attorney, and how to work with local community groups. Your brand and reputation will benefit from your working in your community to get to know your new customers.