Tag Archive for: accelerator program

The Most Important Marketing Tool for Fashion Brands & How to Use It

Important Marketing Tool

So, I’m in yoga the other day and after the final “Namaste,” my teacher starts to make her daily announcements.

Instructor training begins again on Friday… Four beginner yoga classes are being offered on Saturdays… And then this:

“I also just want to let everyone know that I’m starting an email list.”

And as I’m putting my socks back on, I’m thinking, “Yes, go girl, start that email list.”

(It’s one of the first steps towards entrepreneurship, after all.)

But what begins to unfold has me cringing on my mat:

“So, um yeah, the clipboard is at the back of the room if you want to sign up… I’ll only send out, like, two emails a year…. I probably won’t send out the first email for a few months… You don’t have to sign up if you don’t want to, but I’ll just use it to stay in touch with you…”

And on it went as people started rolling up their mats.

I hung back and waited for a bit until I was one of the last people to leave the studio. As I walked past the clipboard that was sitting by the door, I looked over to see that not one person had signed up.

I wasn’t surprised. And it got me thinking about the startup brands I see online, desperately trying to build an audience, but failing to make an effective “ask.”

I should start by clarifying that your email list is your most important marketing tool — by far. It’s more important than Instagram, more important than Facebook, more important than Pinterest, more important than any other online marketing tool you can leverage.

Your email list is the fastest and most direct way to connect with your potential customers, and it’s yours. Unlike Facebook and Instagram, that now make you pay to connect with your followers, your email list belongs to you.

In the case of my yoga teacher, she was making a verbal “ask” to her studio of aspiring yogis. In the case of your online business, your “ask” is your opt-in incentive and call-to-action (CTA).

(If these terms are starting to sound like crazy-speak, consider joining Factory45 in May. We go into extensive detail about email marketing throughout the program.)

I know this isn’t very “zen” of me, but I want to analyze what my teacher did wrong so that it can help you grow your email list more effectively.

blog-image

>> She lacked confidence. If you don’t believe in what you’re offering it will show, and she seemed nervous to come across as too “salesy.” While marketing may not be a natural skill for a yoga teacher, it must become a natural skill for you if you plan to sell your collection, designs or products online.

If you’re not confident in making the “ask” and it shows through your copy, then you might as well not have an email opt-in at all.

(And don’t even think about doing that…)

>> She didn’t incentivize. So often I see email opt-ins that are as incentivizing as an annual flu shot. If your opt-in rate is low, it might be because your call-to-action is lackluster.

“Sign up to our mailing list” is not a call-to-action! That type of language doesn’t do anything to inspire people to want to hear from you. They need to know what they’re going to get and why they should care.

You can try discount codes, free shipping, and style guides to incentivize sign-ups, but the options are endless. The bottom line is that you have to provide real value to entice people to sign up.

>> She didn’t provide an expectation. She said, “I’ll just use it to stay in touch with you.”

What does that even mean?

She doesn’t know all of her students by name and if she did, “staying in touch” is a very allusive expression.

What will I receive emails about? Will I be interested in the topic? What kind of updates will be sent out?

Again, if you’re asking someone to opt into your list, instead of the email list of a competing brand, then you have to have a damn good reason why. “Staying in touch” doesn’t mean anything.

>> She didn’t sound consistent. There is a big difference between what online marketers call a “healthy list” and an “unhealthy list.”

A healthy list is engaged. You have an open rate above 25%, you have a consistent click-through rate, and your “unsubscribes” are generally low. A healthy list comes from consistency — weekly to bi-weekly emails that provide value, interest and intrigue to your following.

If you’re only going to send out two emails a year and you’re going to wait several months to send out the first one, then why bother?

By the time she sends out her first email, anyone who opted into her list will have already forgotten. And do you know what happens when people forget that they signed up?

They unsubscribe and mark the email as spam.

If you have something of value to offer to your target audience, then you need the confidence to market it. As a new business owner, you’re likely running the show on your own, so you have to be equal parts “the creative” and “the marketer.”

Building your email list is the most effective way to grow your brand, sell more products and make your mark in the industry.

But it doesn’t come easy.

It takes experimentation, rewriting your offers, asking for feedback and figuring out what value you can provide.

 

 

 

Download the "Free Spec Sheet Template for New Designers"

/by

5 Ways to Get Ahead When You’re a New Entrepreneur

new entrepreneurs

How do you ensure success? Who stands out from the crowd? What separates the pros from the amateurs?

There aren’t any definitive answers. And I’m not even going to begin to try and analyze them. What I will say, is that over the years, I’ve been observing. Working with startups and new entrepreneurs on a regular basis has provided rare insight into what makes one person get ahead of the rest.

Here are five way to set yourself up for success that go beyond conventional wisdom:

1.) Make it easy to help you.

Most people are excited and willing to help out new entrepreneurs. But the likelihood of connecting with someone who is more seasoned in the industry is largely dependent on how you make the “ask.”

The first and most obvious way to sabotage yourself is by writing an inquiry email that scrolls on for block paragraph after endless block paragraph. In most cases if you’re looking for advice, the person you’re seeking out is busy.

I implore you, keep your email to no more than two to three short paragraphs. Your chances of getting a response are incrementally higher and I promise you’ll come across as more professional — and more effective.

Bonus tip: ask a specific question. Avoid using phrases like, “Can I pick your brain?” Instead, ask the exact questions you want to know the answers to. Once you have your foot in the door and get a response, you can follow up from there.

2.) Write thank you notes.

They don’t have to be handwritten and shipped via snail mail, but if someone takes the time to jump on a call on your behalf, follow up with them. I’m always surprised when I block out a free 30 minute call to answer someone’s questions and I never hear from them again.

Regardless if the advice was good or not, it’s common courtesy to express gratitude to someone who gave their time to you.

This is especially applicable when a contact goes out on a limb to introduce you to someone. It makes that person and yourself look bad if you don’t take the time to follow up afterwards.

Good things come from gratitude. And the most successful entrepreneurs show how much they value the people who helped them along the way.

blog-post-image

3.) Start before you’re ready.

Should I launch now? Should I get more real world experience first? Should I go back to school? Only you know the answer that’s right for you, but my recommendation to most aspiring entrepreneurs is to start before you’re ready.

Building a business requires a long runway. It’s not only about the amount of hours in the day that you spend on your business, but the months and years that you take building up to it. As I tell my entrepreneurs (on repeat), launching a successful company is a marathon not a sprint.

The sooner you can start fleshing out your ideas, seeking out mentorship, connecting with industry peers and educating yourself, the better off you are in the long run. The old cliche usually holds true: Tomorrow you’ll wish you had started today.

>> Tess, that one was for you : )

4.) Be consistent.

The entrepreneurs who get ahead are calm and collected. They’re methodical, they’re strategic and they don’t get easily frazzled.

Can’t figure out how to link up your domain to your server? “No problem, I’m sure tech support can help me.”

First sample came in two sizes too big? “No worries, I’ll speak with my factory and have them fix it.”

Kickstarter video is low quality? “No big deal, we’ll reshoot.”

When you’re first starting out, your attitude and the way you handle challenges are going to dictate how you respond in the months or years of your business to come. The entrepreneurs that get ahead know there is a solution for everything. And sometimes the solution falls under the guise of a better option.

Building a business is not an overnight endeavor. It requires consistency of action, which means not giving up if something doesn’t work the first time.

5.) Ask for help.

I’m going to let you in on a secret. Nobody builds a successful business by doing it on their own. That’s right, nobody.

The entrepreneurs and mentors you see online or in fashion magazines are all getting help, seeking out mentors of their own, building advisory boards and seeking out further education.

In the past six months, I’ve taken three online courses, countless webinars, hired a consultant and sought out a mentor myself. This is in addition to the five part-time employees that help me build my business.

Solopreneurship is a farce. If you want to get ahead, then you have to seek out help from others and continue to invest in yourself.

That’s what separates the amateurs from the pros.

 


 
 
 

/by

Why Competition is a Good Thing (even when it gives you a panic attack)

“That’s, like, pretty much what I’m doing.”

“She’s selling the same thing I am.”

“I just found out X person is also making X product, so what’s the point in me even trying?”

As someone who works with and mentors new entrepreneurs on a regular basis, I’m no stranger to panicked emails popping up in my inbox about the discovery of a competitor.

“And she’s so much farther along!”

“And they already have 3,000 followers on Instagram!”

“They’re using organic cotton and making it in the USA, too!”

As soon as we discover potential competition, our cortisol levels shoot through the roof and we imagine the worst case scenario.

EVERYONE is going to buy from HER instead of ME.

So I might as well quit.

And while yes, quitting is the easiest route to take (in any situation) there are many more reasons to keep going:

  • An idea is just an idea. Everyone has them. What sets you apart is your ability to execute. 99% of ideas never see the light of day, so if you’re able to get your product to market, then you’re already that much farther ahead than everyone else. So much of entrepreneurship is simply a matter of keeping your head down and doing the work. It’s not glamorous, but there’s really no alternative.
  • The “me versus them” mentality is the fastest way to sabotage yourself. As soon as you start thinking the world is against you and the universe is set up for you to fail, then it’s over. I’ve never met a successful entrepreneur who didn’t operate with an “abundance mentality.” Repeat after me: there are enough customers for me and there are enough customers for them.
  • Competition breeds creativity. Having competitors in the market forces you to innovate, think outside the box and pushes you to do better than you would have done if you had a monopoly. While it may give you anxiety at first, you have the ability to reframe how it makes you feel. It can either deflate you or empower you — and you have the power to choose.
  • Competition shows you there is a need in the marketplace. Having other players in the game means there is a big enough pool of people who want what you’re selling. The market share is there and it’s your job to find a way to take a piece of the pie.
  • The great news about being in the clothing business is that, unless you’re selling to nudists, everyone needs it. Fashion is a $1.5 trillion dollar industry. That’s a lot of people buying clothing. And the average American buys 62 pieces of clothing a year. As fast fashion continues to gross more people out, you’re there to provide an alternative ethical option. How cool is that?
  • And this. This is the best reason of all: Despite how many people are selling (or plan to sell) something similar to you, no one is ever going to do it the same way you are. That’s just fact. There is no one else on this planet that is even remotely close to the same person as you and thus, the way you create is going to be different from everyone else. 

No matter how many new kids lines or womenswear lines or outwear lines debut, they’re all going to be unique to their creator. And that’s why it’s so important to know who your target customer is. It relieves you from having to sell to “everyone” so you can focus on selling to the special group of people it’s made for. There is so much freedom in that.

I know I’ve written about competition before, but it’s the topic that continues to come up because it’s so much scarier when you’re just starting out.

Working with mostly women entrepreneurs has taught me how sensitive most of us are. We want perfection, we want everything to go the right way the first time, and we want to show everyone around us that we can do it.

As soon as we hit a bump in the road, we tend to question our intentions.

Who was I to think I could pull this off?

When really, who are you not to?

 

 

 

/by

Copycats, Knock-Offs & What to Expect from the Competition

“What if I tell someone about my product and they steal my idea?”

One of the most common questions that comes up with my entrepreneurs in the beginning of Factory45 is the concern about copycats.

I can’t count how many times I’ve been asked, “Should I have my production partner / patternmaker / samplemaker sign a nondisclosure agreement?”

I’ve worked with entrepreneurs who have spent thousands of dollars on patents and trademarks without ever having their first customer.

There is a lot of concern churning around the fashion industry about being ripped off. And with the latest scandals coming out of Etsy, Urban Outfitters and others, I can’t really blame them.

It’s not unheard of for a designer to replicate a design someone else is selling and get away with it just by adding a few buttons or changing the length of the sleeves.

When brought to court the copycat designer would win the case simply by changing a few minor specs.

Unfortunately in fashion, that’s the way the (entrepreneurial) cookie crumbles.

In Eric Ries’ book, The Lean Startup, he says early-stage entrepreneurs spend too much time worrying about their idea being stolen and not enough time telling as many people about it as possible.

As a startup, Ries says you should focus on talking about your idea to anyone and everyone willing to listen. That’s the only way to get early customer feedback, hear what your potential customers actually want and find out if your idea is a viable business.

There is a big difference between someone saying you have a great idea and actually getting out their wallet to pay for it.

Believe me, I get it. I perfectly understand how fragile and vulnerable it feels to be in the early stages of a fledgling idea.

I’ll never forget an email I got from one of my Factory45’ers last year who was stressed out over another company she had come across:

“…They are basically doing what I’m doing, like sourcing fabric in North Carolina, being ethical, unisex, drawing inspiration from travels and all of a sudden I don’t feel so original anymore.”

I talked her off the ledge and we laughed about it afterward, but feelings of panic and self-doubt are normal to every startup.

When early stage entrepreneurs worry too much about protecting their idea, Eric Ries calls this “stealth mode.”

He says: “Part of the special challenge of being a startup is the near impossibility of having your idea company, or product be noticed by anyone, let alone a competitor.”

Makes sense, right? Stealing an idea is a lot different than stealing an idea and actually implementing it — especially an idea that hasn’t proven to be successful yet.

If you do reach a degree of success down the road, then competitors are bound to enter the market. People see something that works, and they want to have a piece of it — this comes with the territory.

I recently went through this with Factory45 when I found out that a friend and close colleague had ripped off, rebranded and launched her own version of a sustainable fashion incubator.

So much so that a mutual colleague asked her, “Isn’t this the same program that Shannon is running?”

Should I feel flattered? Maybe. But that’s definitely not how it feels in reality. And anyone who has gone through it will likely agree.

The thing is, as hard as it may be to take it gracefully in the moment, competition is a good thing — it pushes us to continue innovating and prevents us from getting stagnant.

After all is said and done, here’s what I’ve found to be helpful when dealing with competition, copycats and knock-offs:

1.) Before trying to get all Zen about it, spend 20 minutes screaming into your pillow. It will help you move past the anger and frustration faster.

2.) Seek to understand and assume positive intent. This can be applied to so much in life. As hard as it may be, give the benefit of the doubt and assume the similarities were not intentional.

3.) Believe in abundance. There is enough to go around. The universe offers ample opportunity for all of us to succeed. Talk yourself out of scarcity and into abundance.

4.) On the flip side, no one ever won by being a second-rate version of someone else (thanks, Judy). This is where strong brand identity comes into play.

5.) And then — there’s karma.

 

 

 

 

/by

4 Mistakes to Avoid When Sourcing Fabric

If you’ve ever tried to source fabric you know it can be, how do I put this…

…an arduous process.

Suppliers don’t answer your emails. They definitely don’t call you back. And sometimes there isn’t even a voicemail to leave a message.

Whether you’ve gone through this or you haven’t started sourcing yet, there are a few things you can do to raise your chances of getting a positive response.

And it starts with avoiding these four big mistakes:

1.) Writing a long inquiry email

I can’t tell you how many people make the mistake of writing a multi-paragraph email that is so long-winded your own mother wouldn’t even read it.

A fabric inquiry is not the time to go into an explanation of your company mission or your core values or your plan to single-handedly change the fashion industry.

The supplier doesn’t care about that stuff!

What does the supplier care about?

Sales.

What does he or she need to make a sale from you?

A very specific one-sentence description of the exact fabric you’re looking for.

What should that sentence include?

The fiber, the fabrication, the weight and the color.

The end.

(Yes, you can include a “hello” and “thank you.”)

2.) Immediately asking a sales rep for MOQ’s and pricing

MOQ stands for “minimum order quantity.” In other words, the amount of one type of fabric that you’re expected to order to meet the supplier’s requirements.

Of course you need to know if the MOQ is attainable for you (20,000 yards would be a bit ambitious when you’re first starting out…) And of course you need to know how much a yard of fabric costs so you can factor it into your Cost of Goods Sold.

But don’t ask.

When it comes to sourcing fabric, a significant part of the process is getting swatches in the door so you can feel them, put them in the wash, and compare them to one another.

The sales rep wants you to see the value and quality in the fabric just as a car dealer would want you to test drive the car before talking about price.

Let the rep offer the information or wait to ask until you have received the swatches.

There’s nothing worse than appearing overly price-conscious and frugal when you’re already looking for low minimums.

sourcing

3.) Not building a relationship with the sales rep

You can’t even imagine the awesome things a supplier or sales rep will do for you if you take the time to build a relationship.

Most days a sales rep is dealing with huge amounts of pressure. A big client needs a rush order. A new client received a bad roll. Throw in a handful of inquiry calls from newbies who don’t know what “fabric weight” is and the sales rep is tackling a pretty high-maintenance day.

If you respect their time by knowing exactly what you’re looking for, and you make it easy for them to help you then you’ll see a return.

Building a relationship can happen gradually over the course of a few emails here, a few phone calls there, but if you’re explicit about what you need you never know when a sales rep will call you up out of the blue and say, “We’ve got 300 yards of excess that just came in and we’ll sell it to you at a discount.”

4.) Not being persistent

Fabric sourcing is not for the faint of heart — especially when you’re looking for sustainable and low-impact fabrics.

The mainstream supplier will try to talk you out of sourcing organic cotton or wonder why you’re trying to source Tencel when rayon is so much cheaper.

Stay true to your values and the reasons you have for wanting to create a sustainably-sourced garment. Don’t try to convince them of all the reasons why sustainability is important for the future of fashion.

Keep looking, keep persisting and don’t give up until you get what you’re looking for. It may not happen immediately, but at some point, you’re going to find it.

fabric sourcing cat

 

 

 

/by

From TV Host to Traveling Mom: Meet Angela of Factory45

This a guest post by Angela Tsai, Factory45’er and co-founder of Mamachic.

There’s a lot that changes when you have a baby.

I curse less — at least out loud. I eat better. I scrutinize labels. I forego makeup. I’m alternately more patient with kids, but less patient with other adults. I’m more assertive. I take deeper breaths. I wear yoga pants even when I’m not doing yoga. I ask for help more. I’m grateful for the little things. I’ve become environmentally-conscious.

Upon having a baby, I suppose I became a grown-up.

Angela-1 jpeg

I’m not gonna lie. I often miss the “old” me, or at least parts of me, when I used to have the energy and motivation to be social, dress up and want to look my best. I love being a mom, but I do I miss that confidence that I once had in my pre-baby body.

I once felt I could be amazing, each and every day.

So, mix all of these changes that motherhood brings, with traveling full-time with your kids? When you have to pack and unpack all of your family’s worldly possessions every month from a minivan, you realize real quick what it is you want versus what it is you need. Two years ago, when my son Max and I joined my husband Mike on the North American tour of The Lion King, we learned what really constitutes “worldly possessions.” (Here is a photo of Mike in full stage-makeup as “Scar” when I went into labor during a show.)

IMG_2619

As a former TV host and broadcaster, I used to have a revolving rack of clothes to choose from; now, my day-to-day wardrobe has been winnowed down to anything that can be versatile and durable — oh, and nursing friendly. We discovered with Baby Max that we were in need a foolproof burp cloth that could protect our clothes from spit-up and drool. Max was a vomiter, and we were getting tired of changing our shirts what seemed like every hour. Most burp cloths are literally glorified dish towels, and they’d constantly slip off our shoulders or soak through.

Angela Tsai

Neither Mike nor I have any experience with garment design, so we sat down with some plain muslin and went to town. What sort of garment shape would not slip off easily and provide enough coverage, while perhaps also doubling as a sort of accessory so we didn’t have to pull it out of a bag or hunt around for it? What if it was something we were already wearing, even if we weren’t physically holding our baby?

So three years ago, we formed our company Too Cool For Drool, and the “Mamachic” was born — or as we initially called it, “The Barf Scarf.”  In a nutshell, it’s a scarf with a neck slit. It allows you to wear the fabric without it slipping off, and covers your shoulders and upper arms, the big baby “splash zone.”

tech_drawings_mamachic

It’s taken some time for our product to get made. Our design is constantly evolving, and with our nonstop traveling and parenting, our business has been a part-time effort at best. On top of it all, I just had another baby a year ago, and Eva’s not a vomiter like Max. In fact, with her, what I’ve needed is more of a nursing cover, so we’re playing around with scarf shapes so it can be used easily as such.

I’m hoping the Mamachic can accomplish three things:

1.) Streamline motherhood. Make the task of caring for my baby convenient and seamless with feeling and looking good.

2.) Lighten my travel load and only own items that can accomplish multiple tasks. The Mamachic could be an all-in-one burp cloth / nursing scarf / blanket.

3.) Be made with sustainable materials. If I can be good to the environment so that my kiddos won’t have to someday wear hazmat suits out in public, isn’t that the proverbial organic icing on the gluten-free cake?

gwyn_grey_tumblr

Through Factory45, we’re headed down an educational and supportive road to get our product made. It’s daunting and exciting to put real wheels in motion. We’re working on an updated sample using deadstock bamboo and organic cotton, and putting numbers together to launch a Kickstarter campaign in the new year to fund our first production-run.

Beautiful. Versatile. Durable. Good to the earth. Confidence-inspiring. I’m talkin’ about both the Mamachic and you mamas out there. We are amazing. We deserve to feel it, each and every day.

You can follow Angela and her family on the road here. To stay up-to-date about the launch of the Mamachic, sign up here.

Market45

/by