Tag Archive for: entrepreneur

5 Secrets to 5 Years of Business

Five years ago, I had no idea what in the world I was doing.

I was saying goodbye to my first company and although I knew it was the right decision, I couldn’t help feeling lost.

For the first time in years, I didn’t have direction.

I tried freelance consulting, writing a book, wardrobe clean-outs, working for a self-help author, all the while bartending in between.

After a year of falling haphazardly from one thing to the other, I finally bit the bullet and hired a business coach (that I could just barely afford).

And I finally started to feel reinvigorated by entrepreneurship.

I realized that yes, I definitely wanted to start another business  — but it took several months to get clear on two major things:

  1. What I wanted that business to look like.
  2. What my “Why” was.

Once I could identify those, and get really specific, everything else seemed to crystallize.

Just five months later, I launched Factory45 for the first time — completely terrified.

Would anyone enroll?

Would the program work?

What if everyone asked for a refund?

In the worst of times, the fear was completely paralyzing. In the best of times, the fear sat in a pit at the bottom of my stomach waiting for something to set it off.

But somehow, I was able to push past the negative self-talk.

And it paid off.

This April I’ll celebrate my FIVE year business anniversary.

*cue solo dance party AND an oat milk latte*

Just a few weeks ago, I wrote about the importance of celebrating your wins.

So, that’s what we’re going to do.

While I would prefer to have everyone over for a champagne toast, we’ll have to keep the party on the internet.

For the entire month of April, I’m going to share my five secrets to staying in business for five years.

They were definitely secrets to me when I was first starting out.

I promise, these won’t be “teamwork makes the dreamwork” cliches.

I’m talking about real, tactical advice with the personal stories and proof behind them.

I’m excited to share them with you.

Next week I’ll share the first one, so keep an eye out : )

 

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Which “Entrepreneur Type” Are You?

There are three types of entrepreneurs…

I’d love to know, which one are you? (There’s a chance to tell me at the end!)

Behind door #1, we have Taylor.

Taylor is an enthusiast. She can come up with a new business idea every week and her excitement is contagious. She loves dreaming and scheming, making vision boards, setting big goals and envisioning what her business will look like 10 years from now. She is vision-oriented.

Entrepreneur Type

Behind door #2, we have Sydney.

Sydney is a doer. She is known for sitting down to work, not getting up for eight hours straight and forgetting to eat. She is detail-oriented, thrives under pressure and is often labeled by her friends as a “workaholic.” She loves to-do lists, labeled folders and is a self-described “perfectionist.” She is action-oriented.

Entrepreneur Type

Behind door #3, we have Jaime.

Jaime is an enthusiastic doer. She sets lofty goals and the specific action steps to reach them. She loves imagining what could be, but she focuses her energy on what needs to be done to get there. Jaime knows that progress is better than perfection and that finished is better than perfect.

Entrepreneur Type

Most of us want to be Jaime.

The problem is, whichever door you fit into is already a part of your ingrained personality. It’s in your psyche, work ethic and overall human make-up which means that if you’re a Taylor or a Sydney, then it’s really hard to change.

The good news is, if you’re not already a Jaime you don’t necessarily need to change.

You just need to figure out how to make your “entrepreneur type” work for you.

How exactly?

If you’re an enthusiast (Taylor), then it’s pretty simple. You either need to find a doer (Sydney) as a business partner. Or you need to have the budget to outsource specific tasks to a team. While true Taylors are really great at seeing the big picture and coming up with fresh ideas, they have a hard time implementing on those ideas and taking action.

If you’re a Sydney, then you don’t necessarily need a business partner, but it would probably benefit you to outsource some of the tasks that aren’t “worth” your time: things like formatting your email newsletters or publishing your blog posts or scheduling your social media posts. They are time-consuming tasks that could be outsourced to a great assistant and free you up to focus on some of the bigger picture items.

If you’re a Jaime, then you’re in a good spot. But let’s be honest, most of us aren’t. And even Jaime needs a little help — she can’t do everything, especially as her business grows.

Disclaimer: This is purely for fun and obviously open to men, too — I used female pronouns but gender-neutral names : )

 

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One Thing You Can Do Today to Increase Your Long-Term Success

“That’s huge!” I say in my most celebratory voice.

“Yeah… but I still have to print my hangtags and my button supplier isn’t calling me back,” she tells me with a tone of defeat.

I pause for a second.

“Okay, sure, but you’ve finalized a CUSTOM sustainable fabric that you’ve been working on for MONTHS. That is a HUGE win!”

“Yeah… I guess you’re right…” she says, only slightly waning to my enthusiasm.

Why do we do this?

As entrepreneurs, why are we the last people to celebrate our own wins?

Even worse, why do we focus on all of the things that aren’t working rather than taking a moment to recognize how far we’ve come?

I’m as guilty as the next person when it comes to celebrating my own progress.

I’ll remember to send my web designer a bottle of champagne on launch day, but I won’t pour a glass for myself.

What gives?

The most obvious excuse is that there’s just too much to do.

As small business owners, we don’t have time to focus on the things that are going well because there’s always something else to be working on.

But I’m not suggesting you go on a Carnival Cruise every time your fabric order arrives on time.

What I am suggesting is that you take a beat to reflect.

To appreciate.

To sigh a breath of relief.

To recognize that in at least one way, you are doing great.

So, here’s your call to action for this week:

Come up with one small thing you can do to celebrate your wins.

Maybe it’s a five-minute office dance party to your all-time favorite song.

Maybe you take 10 minutes at night to luxuriate with a bubble bath and face mask.

Or maybe you splurge for the $5 oat milk latte instead of the $2 drip coffee.

Whatever you decide, it’s not so much the act of treating yourself as it is taking the time to acknowledge what you’ve accomplished.

And most of us need a physical trigger to remind us to do that.

Why is this important? Why do we need to celebrate our wins, you ask?

Studies have shown that when we take time to celebrate small victories, we become better at goal setting and more importantly, reaching those goals.

And I don’t know about you, but if I’m going to set a goal then I’m willing to do whatever it takes to increase the odds of accomplishing it.

So, the next time you’re busting moves to Whitney Houston’s “I Wanna Dance With Somebody,” know that you aren’t just indulging in a dance break…

What you’re really doing is increasing your odds of long term success.

And that’s something to celebrate.

 

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This is the Most Overlooked Skill by Fashion Startups

For the past three nights, I haven’t been able to fall asleep.

(Sleeping is one of my best talents, so this is highly unusual.)

And as I’m laying there, I end up doing the exact opposite of what you’re supposed to be doing when you can’t fall asleep:

I start scrolling through Instagram.

(I know, I know… I’m only human!)

But last night, as I was scrolling, I started to pay attention to which captions I clicked to read.

And I realized something…

There is one very crucial skill that I see many new fashion brands lacking.

And that’s the ability to write compelling sales copy.

If you’re not familiar with the term “copy” it refers to any text you write to represent your brand.

In other words, your emails to your list, subject lines, blog titles, any “call to action,” Instagram captions, blog posts, the “About” page of your website, the product descriptions on your shop pages, your social media bios, etc.

To be honest, if you asked me why some fashion brands are successful and others aren’t, I would boil it down to two main marketing components:

#1 Great product photography

#2 Great sales copy

And it’s #2 that I want to talk about today, because I think this skill is detrimentally overlooked by startup fashion brands.

To be able to sell *anything* online, you need to be a strong writer.

Before you throw your hands up in the air and tell me, “It’s just something you’ve never been good at!” hear me out:

I’m not talking about the type of writing you learned in high school English class.

The writing skills that are required for the internet are far more attainable than learning how to construct a 42-page essay analyzing Jane Eyre.

(Bleh, aren’t you glad those days are over?)

To write compelling sales copy, it simply requires you to write how you talk.

Back in high school, Mrs. Sullivan would have called this “the vernacular.”

That’s where I want you to start.

I want you to write in a way that’s conversational.

And as with anything you practice over and over, you’re going to get incrementally better at it.

Even if you think you “can’t write.”

But here’s what I would not recommend:

Hiring someone to write your copy for you.

(Unless you have endless amounts of money that you can pay this person for as long as your brand exists… and who really has that?)

Copywriting is a “teach a woman to fish” type of situation.

You really and truly do not want to rely on someone else to be the voice of your brand when you’re just starting out.

Sure, if you reach $1M in revenue, then go ahead and hire a marketing team — but in the beginning, your brand is relying on you to hone your chops at writing.

There are courses out there to teach you how to improve (CopyHour is run by my friend Derek and Marie Forleo has a program called The Copy Cure.)

There is also plenty of free content if you google, “How to become a better copywriter.”

But the bottom line is this:

You need to be able to effectively communicate what your brand has to offer.

That requires you to be clear, genuine, persuasive and most of all, compelling.

Because if you aren’t, then you’re going to train your followers (i.e. potential customers!) that your words aren’t worth reading.

And if your words aren’t worth reading, then how will they know that your products are worth wearing?

 

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5 Ways to Get More Engagement from Your Email List

designing working on computer in design studio

I talk a lot about your email list being the most valuable marketing asset you have as a fashion brand.

If you’re not building your list, then you are missing out in a big way.

In fact, I can’t name one successful, modern-day business that doesn’t have an engaged email list that is actively growing.

But growing your number of subscribers is only half the battle. It’s making sure that they’re engaged readers that really requires the hard work.

Here are five ways to get more engagement from your email list* so you can create customers for your brand:

*Note: When I’m talking about your email list I’m not referring to your list of contacts in Gmail. An email list for your business has likely been created on Mailchimp or another email marketing platform and your subscribers have “opted in” to receive marketing emails about your brand.

1. Subject lines, subject lines, subject lines.

It doesn’t matter if you have the most compelling, beautifully designed and articulately written email if your subscriber doesn’t open it.

Your “open rate” is largely dependent on the intrigue of your subject line. It has to elicit a curious response from your subscribers that entices them to read it.

As an example, what’s a more interesting subject line to you?

5 email marketing tips

OR

This is why your subscribers aren’t reading your emails

Of course this takes practice. For every email I send out to you, I write five subject lines before I narrow it down to the winner.

Your subject line should be a focal point of your entire email — not an afterthought.

2. Don’t underestimate the “readability” of your emails.

This is the simplest and most basic rule of email marketing, but I can’t tell you how many emails I receive from new brands that make me question if I need reading glasses.

When in doubt, use a 12 point sans serif font in black. If you make your readers squint at their screens, then they’re going to click delete.

Other “readability” factors: avoid large block paragraphs, bold phrases are your friend, create plenty of white space.

Take note of the emails that you’re subscribed to and notice the formatting – what stands out? What makes it an easy read for you?

3. Start with a story.

Research has shown that when a person starts reading a (compelling, well written) story, it’s very difficult for them to stop.

What does that tell us about email marketing?

Start with a personal anecdote.

Your subscriber is not only more likely to read to the end, but starting with a personal anecdote also builds trust and connection with your reader.

And it’s trust and connection that turns a reader into a customer.

4. Give one “call to action.”

Your call to action is what you want your reader to do after they open and read your email. Your CTA is essentially the whole point of sending out an email in the first place.

If you’re already selling, then your only goal is to move your reader from your email to the shop page of your website.

If you aren’t selling yet, then the goal of your CTA can be something else that helps you grow your following (forward this email to a friend, follow us on Instagram, read last week’s blog post, etc.)

The key thing to avoid here is giving multiple calls to action. I see a lot of emails that ask the reader to shop AND follow us on Instagram AND read our blog AND forward to a friend AND…

Asking for too much creates decision paralysis for your reader and instead of doing everything, they’ll do nothing.

Pick one CTA and test it one week. Choose a different CTA and test it another week. Use another CTA and test it the next week…

Which leads me to,

5. Track your analytics.

No matter which email marketing platform you’re using (Mailchimp, ActiveCampaign, Klaviyo, etc.), there is a dashboard that gives you a series of very important stats. Do not overlook these!

For every email you send out, you need to be tracking your open rate and your click-through rate, with an additional glance at your unsubscribe rate.

I say “glance” because I don’t want you to obsess over how many people unsubscribe from your list. It’s normal for a healthy list to have unsubscribers so don’t dwell on it. However, if you notice a significant increase at any point, then you’ll want to be aware of what could have possibly triggered it.

Above all, tracking your analytics will provide insight into sending better emails. It will help you become better at writing subject lines, it will give you valuable data about what your readers want to see and it will help you increase traffic to your online store.

A final thought: So often new brands get caught up in the number of subscribers they have. And while yes, the goal is to grow your list as much as possible, I would much rather have a small highly-engaged list than a large list that isn’t engaged.

This goes back to what I wrote about how you only need 100 “True Followers” to launch a fashion brand. In this case, bigger isn’t always better.

 

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Struggling with Marketing Your Fashion Brand? Follow the 30/70 Rule.

female designer typing on computer in minimal workspace

If you’re running a fashion business, it should be no surprise that marketing is a huge part of your day to day.

If you want to sell, then you have to promote — right?

We know this. It’s on our to-do list. We have a strategy in place for it. But…

How often does promotion get overlooked?

Here’s a scenario that I see too often:

  1. You’ve spent several hours crafting the perfect blog post.
  2. You finally click “Publish” and the post goes live.
  3. You sit back and wait for people to come across your post and praise its brilliance.

When put that way it sounds a little ridiculous.

And yet there are so many of us who expect it to happen like this.

The internet has made us live by the adage of, “If you build it, they will come.”

But nobody arrives.

If you’re struggling with marketing and being seen by your ideal target customer, then I have one rule for you to implement right now:

“30% content creation / 70% content promotion”

What does that mean exactly?

It means that 30% of your time should be spent on creating marketing content. We’re talking blog posts, emails to your list, guest posts, photography, etc.

But 70% of your time should be put towards promoting that content.

It’s not enough to share a blog post on Facebook one time. That same blog post should be sent out to your email list and shared on social media over… and over… and over again.

“But, Shannon, won’t my audience get sick of seeing the same stuff?”

No, because unless it’s your mom, they’re not paying attention that closely.

Don’t believe me?

Here’s an example:

For the past month I’ve been promoting the launch of Market45, an ethical fashion marketplace, that will go live on November 1st.

I’ve mentioned it upwards of six times on Instagram and it wasn’t until the sixth time that I got a text from my own sister saying, “Just saw you’re launching a marketplace! Great idea.”

And while yes, she’s busy with her own life going on — so is everyone else.

You can’t count on people to retain your message, read your blog post or engage with you on social media the very first time.

Or even the second time… or the third…

And I know what you may be thinking, “Man, this sounds exhausting. I can’t keep up with all of this marketing.”

But what I’m telling you is actually good news.

Because the content creation (i.e. the 30%) is the part that’s usually hardest for everyone.

I know how many of you worry that you’re not a good writer or that it takes forever to write a blog post or newsletter.

But with the 30/70 rule, once it’s done you get to focus the majority of your time on promoting it.

And while it still requires writing, crafting a promotional Facebook post or Instagram caption is a lot less work than writing full content.

To put it in perspective:

I spend at least 1.5 hours every Wednesday scheduling social media to promote that week’s blog post. My assistant spends another hour putting that blog post on WordPress and scheduling it to send to my email list.

That’s 2.5 to 3 hours dedicated to content that took me 30-45 minutes to write.

Do you see where I’m going with this?

So whether it’s an upcoming launch, a Kickstarter campaign or something small like a blog post, focus on doing more with less.

You can’t argue with that.

 

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Why You Only Need “100 True Followers” to Launch a Fashion Brand

true followers

To be a successful creator, designer or entrepreneur, you don’t need millions of dollars.

According to author Kevin Kelly, all you need is 1,000 true fans.

Are you familiar with this theory?

The idea is this:

If you have 1,000 true fans, and make $100 profit from each one every year, that’s enough money to sustain your creative work.

It’s not a fortune, but you get to spend your day doing what you love.

I recently recalled the “1,000 True Fans” theory that I read in 2012, and it got me thinking about how it applies to the fashion entrepreneurs that I talk to every day.

One of the biggest frustrations I hear from them is not being able to grow an audience fast enough.

“I only got 10 new Instagram followers this week.”

“I only have 50 email subscribers.”

“My Facebook post only got five ‘Likes.’”

For many of you, when you’re starting from zero, it probably seems impossible to get to 1,000.

The good news is, I don’t think you need 1,000 true fans.

To launch a fashion brand, you only need 100.

That’s it, “100 True Followers.”

Totally doable, right?

Most of you probably already have over 100 followers on Instagram.

But here’s the thing:

A “follower” is different from a “True Follower.”

And when you’re trying to build an audience to launch your brand to, the “True Followers” are the only thing you should care about.

These are the people who “Like” 9 out of the 10 Instagram posts you publish, the ones who actually reply to your email newsletter and the ones who leave comments on your Facebook posts.

These “True Followers” are the people who are going to be your first 100 Kickstarter backers or your first 100 customers or the first 100 shoppers to show up at your pop-up store.

And then, after they buy from you…

They’re the ones who will tell their friends about you.

And that’s where the magic happens.

So, how do you find these “True Followers?”

1.) Provide value.

It’s not about you, it’s about them. And it’s about how your brand provides value to their everyday lives — whether it’s looking forward to an Instagram post, reading one of your blog posts or being able to tell their coworkers about your weekly newsletter.

2.) Don’t try to appeal to everyone.

I’ve written about this before here. The bottom line is this: The fastest way to sabotage your business is by trying to be everything to everyone.

3.) Say something different.

The easiest way to get ignored is to say the same thing every other brand is saying. Beyond the obvious of avoiding buzzwords and cliches, your brand needs to have a voice. If you don’t know what I mean by “voice,” check out the marketing messages of companies like Reformation, Thundress or Girlfriend Collective. I’ve also written about this here.

4.) Treat every new follower like gold.

This is the most important one of all and it’s often the most overlooked. Every new subscriber, follower, fan and customer should be shown value and appreciation. Instead of lamenting your small following of 10 people, focus on providing those 10 people with the absolute best experience your brand can offer.

Do you know what happens when 10 people have a memorable experience that makes them feel connected to your brand?

Each of those 10 people tells at least one more person.

Then you have 20 followers.

And in no time at all, 100 True Followers (or even 1,000 True Fans) doesn’t seem so impossible after all.

 

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How to Be More Productive as a New Entrepreneur

I looked up from my computer and thought to myself,

“Man, I should really be working.”

I glanced at the clock. Two hours had passed since I last looked at it.

It took me a second to process that in that time, I had written copy for the Market45 website (coming soon), drafted the agenda for an upcoming webinar and written captions for several days worth of Instagrams.

“Oh, so I was working.”

Has that ever happened to you?

You get so caught up in your work that you look up and realize your work didn’t actually feel like work?

It doesn’t happen every day. Sometimes it doesn’t even happen every week. But when it does happen, there’s something so satisfying about it.

It’s what productivity experts call the “flow state.”

(You may also know it as “being in the zone.”)

Psychologists describe the flow state as the most productive and creative state of mind in which to work.

Some even say it’s the secret to happiness.

Our goal as entrepreneurs, then, is to enter that flow state as often as possible so that we can create, design and build our businesses in a way that is not only efficient but also brings us joy.

I know, no pressure.

There are tips all over the internet from work performance experts who will tell you how to enter a flow state.

But most of that advice assumes you’re a top performance athlete or a top-level executive.

What if you’re hustling to build your fashion brand as a side job with limited hours in the day?

What do you do then?

Here are the four steps to being “in flow” when you’re a new entrepreneur.

(And because I think acronyms are funny, I’ve put one together so you can remember it: PACE)

1. Prioritize

When you first sit down to work — whether it’s on your computer or in the studio — focus on one task, and one task only. As you practice, you’ll be able to jump to other tasks without leaving the flow state but in the beginning, it’s important to prioritize.

In choosing your task, it should be something “long form.” In other words, it feels like an investment to sit down and complete it. Tasks that are long form are things like: writing the campaign page for your Kickstarter, or mapping out financial projections or designing next season’s collection.

When you complete the task it should feel like a significant accomplishment and take between 1.5-3 hours.

2. Ambience

For me, ambience is everything. You can’t enter a flow state with the TV on in the background or sitting in the parking lot waiting for your kids. You need to know you’ll have two hours of uninterrupted time in a space that feels good to be in.

Turn on music if you like, pour yourself a cup of coffee or tea, light a candle, put on your “writing sweater” — pick some sort of cue that tells your brain it’s time to get down to business.

3. Challenge

Challenge + Skill Set = Flow State. I didn’t come up with this — researchers say that the optimal way to enter a flow state is to present yourself with a challenging task that matches a capable skill set.

In other words, if you’re not tech savvy you’re probably not going to find your flow while trying to set up a Mailchimp account. If you’re not math-minded, then you’re not going to enter a flow state figuring out your production costs.

When you’re first experimenting with this you’ll want to purposely choose tasks that are the appropriate level of challenging.

4. Energy

Do not try to reach a flow state when you’re exhausted, grumpy, having a bad day, etc. The essence of being in flow requires positive energy — they go hand in hand. Don’t underestimate how important it is to get your energy levels up before you sit down.

Hey, look at that — I just wrote 700 words! I didn’t even realize it until now.

I must have found the PACE to just… flow…

; )

Your turn.

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Meet Factory45 for Fabric Sourcing at TexWorld USA

July is here… which means TexWorld USA — one of the largest fabric sourcing trade shows — is quickly approaching!

And registration is now open HERE.

This is a free opportunity for designers like you to not only see hundreds of different fabrics in person, but to also take advantage of the free fashion education happening at the show.

And I’m going to be there on July 24th!

I would love to meet you in person, so here’s what I’ll have going on:

Tuesday, 7/24 at 3pm | Financing Your Emerging Fashion Brand: A Look at New and Traditional Options.

Moderated by Nicole of StartUp Fashion, I’ll be part of a bigger conversation about financing your startup fashion brand.

I’ll cover the ins and outs of financing your production through fashion crowdfunding. Syama Meagher of Scaling Retail will talk about collection development and building a business based on cash flow and capital limitations. And Juliet Obodo, founder of FRWD Startup Solutions, will talk us through options available to founders who suddenly need capital to cover orders or unexpected expenses.

It’s free to attend but you need to register HERE.

Tuesday, 7/24 at 4pm | Independent Designer Meetup

Directly following the panel, join us for an afternoon break to connect with fellow designers and chat fashion business.

Come hang out, have a drink, compare notes and share stories with other entrepreneurs like you.You must be registered for TexWorld to join us, but it’s free to sign up HERE.

fabric sourcing

TexWorld is so much more than just a “fabric show” with a whole slew of free education resources available at your disposal.

It will also be my first night away from the baby, so you know it has to be good : )

If you can make it, I’d love to see you there!

You can register for free HERE.

 


 
 
 

Haven’t attended a trade show before? Make sure to read my free guide to sourcing fabric at a trade show here.

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What’s Your Relationship to Failure?

relationship to failure

The other night I was watching an interview with comedian and screenwriter Tina Fey.

She was talking about the highs and lows of her career, the missteps and the slip-ups and then she said started telling a story about her early days in stand-up comedy.

She was recalling the multiple times that she performed a set, only to leave the stage in complete misery.

No laughs, no engagement from the crowd — hardly any giggles of pity.

And then she said this:

“Everyone should experience the feeling of bombing.”

I sat with that for a minute, and I started to think about my own experiences of failure.

Like the time I spoke at Eco Fashion Week in 2013 and could barely get the words out of my mouth.

Or the time I tried working for someone else and got fired three months in.

Or the myriad other times I didn’t land the internship or the fellowship or get into my dream school.

Everyone should experience the feeling of bombing.

Because the highs will never feel as high as the lows feel low.

Tina Fey is a New York Times bestselling author, she has a net worth of $45 million, she’s won 9 Emmy Awards, 3 Golden Globe Awards, 5 SAG Awards and the list goes on.

Do you know how she got there?

By failing time and time again… and not letting it stop her.

It’s a cliche story, right?

Everyone loves the hero’s journey and I’m sure you can recount a dozen other failure to success, rags to riches stories of celebrities and athletes.

But what about your own?

As an entrepreneur, regardless of whether you’re established or aspiring, what is your relationship to failure?

Because I can tell you this:

To thrive in this industry and for your business to survive, you have to be okay with mistakes, mishaps, discomfort, frustration and yes, failure.

The only other alternative is fear.

And do you know what fear of failure does?

  1. It stifles creativity.
  2. It promotes procrastination.
  3. It feeds into victim mentality.
  4. And it holds you back from your true potential.

And I don’t think that’s a world that any of us want to live in.

So, the next time you’re tempted to hit the panic button before you can experience the feeling of bombing, I want you to pick one of these Tina Fey originals and hold onto it:

“It will never be perfect, but perfect is overrated. Perfect is boring.”

“Do your thing and don’t care if they like it.”

Or, my personal favorite:

“Confidence is 10% hard work and 90% delusion.”

 

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