Tag Archive for: entrepreneurship

Does Hard Work Really Pay Off?

entrepreneur workspace with laptop iphone and planner

When I was growing up my parents always said,

“Work hard and it will pay off.”

When I knew I really shouldn’t sign up for that AP Biology class I did it anyway because, you know,

“I’ll just work harder.”

When I made an audition tape for an internship with Nike, I scripted out the entire four-minute video, storyboarded each shot and had multiple costume and set changes, because well,

“They’ll see how hard I worked.”

When I applied for a fellowship with NPR, competing against thousands of top-tier journalism grads, I told myself, I’ll get it because…

“I work really hard.”

Turns out, I got a “C” in AP Biology, didn’t get the internship with Nike and wasn’t even asked for an interview with NPR.

(My parents also have many words of wisdom for dealing with disappointment.)

Of course you need a hearty dose of hard work to accomplish your goals.

But the disclaimer of “hard work pays off” should be, “it’s also no guarantee.”

This was never more apparent than when I became an entrepreneur.

I quickly learned that hard work isn’t going to get you that much farther than the entrepreneur next you. 

Because working hard is simply a given.

I’ve spent the past 2.5 years working with and observing other entrepreneurs who have set out to start businesses of their own.

A lot of them work hard. And some of them don’t.

But there are other qualities that make far more of an impact:

>> They’re resourceful. I don’t mean they can forage for wild berries and make a bonfire with two twigs, I mean they have an attitude of, “I’ll figure this out.” Successful entrepreneurs know that every problem has a solution and they aren’t afraid to take action to find it.

>> They’re willing to take risks. Deciding to start your own business feels like a huge risk in itself, but it’s just the first one. Your entire entrepreneurial career will be made up of opportunities to take more risks.

Unfortunately, the word ‘risk’ typically comes with a negative connotation. Most of us were taught to follow the straight and narrow path that has road signs with the word “Conventional” along it.

One of the best things I ever did for my own business, and peace of mind, was start trading out the word ‘risk’ for ‘experiment.’

I’m experimenting with this marketing strategy… I’m experimenting with this type of business model… I’m experimenting with hiring this person…

>> They’re not easily derailed. The true test of an entrepreneur is when things go wrong. How will you handle it? Will it be the end of the world and cause you to curl up in the fetal position? Or will you look at it as an opportunity to try something new and come up with a new solution?

Real success is a series of baby steps and the entrepreneurs who break apart from the pack are the ones who keep their energy up.

They don’t let a tech glitch destroy their mood. They don’t let a confusing email from a supplier derail their focus. They don’t let a botched sample force them under the covers.

I once had an entrepreneur friend tell me that she starts working at 10am and is done by 5pm because, “She gets more work done during that time than the average person gets done in a 12-hour day.”

Needless to say, I appreciated her honesty.

Hard work is not the same as productivity, or attitude, or impact.

Successful entrepreneurs know that “working hard” is just another day at the office.

 

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How Much Money Do You Really Need to Launch a Fashion Brand?

A few weeks ago you may remember I sent out a questionnaire to all of you, asking one question:

What is your SINGLE biggest challenge right now when it comes to launching your clothing company?

And not too surprisingly, most of you said the exact same thing…

“I don’t have any MONEY!”

(Or something along those lines.)

A lack of funds can be a huge problem for a startup brand that has the vision and dedication to succeed but simply doesn’t have tens of thousands of dollars to invest upfront.

Even more significant is the fact that many of us have a lot of fear-based thinking when it comes to money.

Whether it’s because of the way we were raised or a feeling of lack throughout our lives, many of us operate in a cycle of scarcity rather than abundance.

When it comes to building an apparel brand there’s also a lot of confusion around how much you really need for product development. We say we want to pay the people we work with an “ethical” wage but most of us don’t really know what that means.

In the second interview for Factory45 LIVE, I talked to Nicole Giordano, founder of StartUp FASHION, about the money topic that most people don’t want to touch.

In addition to answering questions from the audience, Nicole and I covered:

  • How much money you should realistically expect to spend during product development.
  • Our top recommendations for funding your first production run without the risk.
  • Ways to determine your stage of business, develop a budget, create a financial plan — and STICK to it.
  • The personal stories of how we funded our businesses from the beginning without going into debt.
  • And other creative ways to raise money, with management advice about how to be less afraid to spend it.

The truth is, if you’re creating a physical product then it requires some money — there’s no way around that.

But whereas 10 years ago, you had to have all of that capital sitting in your bank account (or have some rich relatives), the industry has changed. There are now easier and smarter ways to start your brand with very little risk to your own finances.

Listen to Factory45 LIVE with Nicole Giordano of StartUp FASHION.

 


 
 

If you know someone who would benefit from attending Factory45 LIVE, please share the recording link.

P.S. The next Factory45 LIVE will be with Michael Riddering, co-founder of Trendly.  : )

 

crowdfunding cta

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The 2 Most Important Things You Should Know About Product Testing

important product testing

Consider this scenario.

You spend years dreaming up the perfect apparel product.

You spend months meticulously creating it.

You tweak and stitch and hem and haw over it until…

It’s perfect.

To you.

But what about the lady on the other side of the country, who really wishes the zipper slid up and down a little easier?

Have you tested it to make sure it’s also perfect for your customer?

There are two phases of product development that I would say are a must.

1.) To test your product in the pre-product development process.

2.) To test your product in post-product development.

First, you want to test your concept.

The easiest way to do this is by sending out a survey to your target market (ideally through your email list). This should help you identify your ideal customer, as well as let you know how likely they are to pay for your product.

Once you receive the feedback, consider every bit of it. Make any necessary changes before you move on to develop your patterns and samples.

An important note here: People may not know what they want, but they definitely know what they don’t want. Phrase your survey questions in a way that provokes your future customer to tell you what they don’t like about similar garments on the market and how they feel they could be improved.

The second test is a user test of the product after the sample has already been made.

Start this process by checking to see what is federally mandated by your country for the manufacturer. For example, in the United States, baby clothing has required testing.

If you aren’t sure what testing may be required by law, use this page on the Consumer Product Safety Commission’s website to find out. (Note that this is specific to the U.S.)

You want to ensure that you’re offering a product of quality, value and safety. You need go that extra mile to make sure what you believe to be perfect, is actually — perfect.

Don’t let this overwhelm you. Testing agencies are out there who specialize in a wide variety of consumer products. Many of these tests are budget–friendly, as well. Do the research, find out what you need and factor it into your budget.

Your other product testing outlet is going to be much easier…

Your family and friends.

This has proven by many first-time entrepreneurs to be the most honest and easiest form of feedback. Reach out to someone in your target market who will be brutally honest and let you know what they like and what can be improved.

Once those two tests are completed, you’ll feel ready and confident to move into production.

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5 Tips for Creating a “Made in the USA” Apparel Company

So, I’ve laid it out before — new designers tend to have a bad reputation. Not to say it’s your fault, it’s just that some have, unfortunately, ruined it for others.

Suppliers and manufacturers here in the U.S. have been in this game for a long time. And they’ve seen it all — from NAFTA to their neighboring factories shutting down to the early days of a shaky revival.

They’ve also seen every type of designer and aspiring entrepreneur, and most have come to the assumption that 9 times out of 10, it isn’t worth their time to take on work with someone who is new to the industry.

While navigating the world of sewn manufacturing may be new and probably a little intimidating, there are ways to set yourself up so that you don’t come off as the “new kid on the block.”

Let me break it down for you:

>> First and foremost: Set goals. So you have an idea – that’s great. Now, get it all out of your head and put it down on paper. While keeping in mind the vision of your product, you’ll want to set both long and short term goals. This will not only help to keep you motivated (long term), but also allow you see the little wins (short term) along the way.  

>> Research. Creating your own apparel company takes a lot of time and money. You want to take all the time you need to ensure you have several reliable options for both fabric sourcing and cut and sew. Do all the research you can before narrowing down your list, this usually requires multiple prototypes, and check out any online reviews or references of past clients who have worked with the factories you’re hoping to partner with. 

>> Budget. Not only are you going to need time and a lot of patience, but you will also need startup capital. You can likely negotiate with suppliers, but err on the side of caution and take the time to figure out what your budget is for each phase of development. If money isn’t growing on the trees outside of your house, I would strongly consider launching a Kickstarter campaign.

>> Organize your construction methods. Before you approach a supplier or factory, you want to make sure all of your ducks are in a row. Ideally, you will have a very detailed description of the fabric and materials you need (including weight, weave and fabrication) or a detailed spec sheet. This should include measurements, materials, colors, trim, hardware, grading, labels, tags, etc. and any other important information that would be needed to create your design. This will show that you know what you’re doing, have thought things through, and are a serious potential client.

>> Communication. You want this to be a two way street and effective communication is critical to your success. When you reach out to a project manager, there are some important “do’s and don’ts”:

DO: Provide a sample, pattern, spec sheet.

DON’T: Say things like “patent,” “sign an NDA,” or “What steps do I need to take?” These are all red flags to the production partner, indicating that you’re a newbie.

Above all, be polite, professional, responsive and appreciative. The world of domestic manufacturing is complicated but once you get your foot in the door, other doors will open.

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Improve Your Marketing Strategy by Using this One Simple Trick

When I published this blog post two weeks ago it was met with an overwhelmingly positive response.

I actually got teary eyed reading some of your replies.

So thoughtful, so heartfelt and then this —

“I think I am better off unsubscribing to your blog.”

It was the only negative response I received, rolled up into a few sentences of underlying racist vitriol.

“It’s just so frustrating,” I said to my husband. “Anytime you have anything worthwhile to say, you’re either preaching to the choir or falling to deaf ears.”

“I get that,” he said, “but what’s really wrong with preaching to the choir?”

And it got me thinking about all the marketing advice I give to the entrepreneurs I work with.

Find your ideal target customer, I tell them.

Establish your niche, I say over and over.

Market yourself to a specific group of people and they’ll come out to support you faster.

Because “preaching to the choir” actually means you’ve found your tribe —

The people who are going to support you and encourage you and eventually maybe even become your customers.

As small business owners, it’s not our job to write the perfect lines that are going to appeal to everyone.

It is our job to have opinions, offer insights and try to better the world for the people who we call our target market, our customers, our niche.

And that’s who you should set your focus on.

So, the next time you think to yourself,

“Should I share this?” or “Should I say that on my About page?” or “Should I retweet that?”

Think about your ideal customer.

Envision him or her in your mind.

And decide if what you want to say will resonate with the person you want to say it to.

Because there’s a beauty and a comfort in finding your people, and when that happens —

You don’t need to worry about anyone else.

 

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7 Tips For Getting a Fabric Supplier to Respond to Your Email

Fabric Supplier

As a new business owner, it is vital that you know how to write an effective email that will earn a response.

Depending on who you’re writing to, it can be easier said than done.

When it comes to reaching out to fabric suppliers, especially, there are seven key rules to remember:

1.) Consider the audience you’re reaching out. The supplier is likely receiving hundreds of emails per week, so you want to make sure your inquiry gets straight to the point. The supplier does not care about your background or the mission of your company. At the end of the day, they just want to make a sale.

2.) Keep the email short and sweet. Yes, you will want to include a nice “Hello” and an appropriate “Thank you.” But again, make sure you are not wasting the recipient’s time.

3.) Do your due diligence. Make sure you do your own research on the supplier’s website before you reach out. Oftentimes, you can get many of your questions answered on the supplier’s About, Shop and FAQ pages.

4.) Know your stuff. Many fabric suppliers are going to want to see that you actually know what you’re talking about, so they don’t risk wasting their own time. One great way to show that you’re serious about being their customer is to send over a design, spec sheet or a visual example of the piece you’re needing the fabric for.

5.) Don’t ask about MOQ’s. Especially not in your first email. This mistake will make you come off as overly frugal and price-conscious before even making initial contact.

6.) Foster the relationship. Once you’ve received an initial response, take your time in building a relationship with the sales rep. While being courteous of their time, you want to cultivate the relationship and make it easy for them to help you. Down the road, they’ll be much more likely to negotiate MOQ’s with you later on.

7.) Stay persistent. Be mindful of not overwhelming the supplier, but don’t give up. Finding sustainable and low-impact fabrics is not an easy task for anyone. Stick to your values and keep up your search. Fabric sourcing is one of the steps in product development that can take the longest, so be patient.

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4 Ways to Negotiate Minimums with Fabric Suppliers

There are so many moving parts that go into launching a sustainable apparel company and one of the steps that can take the longest is fabric sourcing.

As any seasoned designer knows, the moment you realize you have found the fabric can be a mixture of relief, hope and — apprehension.

The first question that will come into your mind is:

Can I meet the supplier’s minimum order quantity (MOQ)?

Maybe you’re planning to start out with 500 yards (or less) because you’re just getting your brand up and running.

It wouldn’t be unheard of for a supplier to require an MOQ of 1,000 (or more) yards, and there may be many reasons for it depending on who you’re working with.

The first thing you need to is find out why the minimums are set at the amount that they are, keeping in mind that the exact reasons will be specific to the individual suppliers.

Once you find out their “why,” you’ll be better equipped to negotiate.

And then you can devise a plan.

Before you start to propose negotiations, make sure you’re not making one of these other fabric sourcing mistakes and take a look at the supplier’s website before you call or email.

Sometimes you can find the MOQ and the company’s capabilities right on the site, and it can help set you up to make the perfect proposal for negotiation.

Here are some things to keep in mind as you devise the right plan:

>> When a supplier sets a MOQ because of time efficiency for custom dyeing your fabric, offer to pay  a flat “dye fee” in addition to the per yard cost of the fabric. This may add to the final cost of the order, but it will likely be much cheaper than ordering three times the amount you need just to meet the MOQ.

>> If the MOQ is in place because it “costs what it costs,” then you can either offer to put down a deposit, but place smaller orders at a time OR you can see if there is the option of “piggy-backing” onto one of their existing client’s orders and splitting the cost. Keep in mind that your production schedule will need to be flexible.

>> If the MOQ is in place because it’s a custom order, let’s say there’s a very particular blue fabric you want but it’s never carried in stock, it may be worth conceding to what the supplier already has available in their warehouse. If you can meet the minimums of an in-stock fabric that is only a slightly different shade of blue, then it’s probably worth settling for it. You don’t want to be so committed to your original vision, that you can’t see the “good enough” version staring you in the face.

>> And lastly, you can try offering to pay a higher price per yard, in order to purchase less than their normal MOQ.

There are many ways that you can go about this, and you will find and choose what works best for you. Go with your instincts, but don’t force it. 

If a supplier won’t budge, then it’s better to cut your losses amicably rather than burn a bridge. When one door closes another opens…

Remember, that no matter what avenue you choose for negotiation this is your journey, your brand and your company’s future.

Give it all you got.

 

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Using Your Voice When the Words Aren’t Perfect

voice

This post was published in July 2016.

Today I had originally planned to share the process behind creating a sustainable and zero-waste wedding.

But in light of everything going on in the U.S. right now, the idea of talking about ethically-made wedding dresses and locally-sourced food is not something I could stomach.

This place of paralysis is something I’ve been thinking about a lot in the past week.

How do we write, market, message and sell our businesses and brands when all of it seems so trivial to the very real issues that are unfolding around us?

Is it a betrayal to offer a sale, feature a product, post an Instagram, promote ourselves when so much of the world is grieving?

I’m not sure.

There are platforms like Design*Sponge that took a hiatus over the weekend from posting anything. D*S founder Grace Bonney shared a heartfelt letter explaining the decision for the two-day pause in content.

Other brands have continued with regularly scheduled programming but have also used their platforms to share posts of allegiance and words of support.

And then other companies have chosen to be silent, for whatever reason feels true to them.

Tragedy occurs all around the world, every day, and if we paused every time something bad happened, we would get nothing done at all.

But the past week has felt different. And I’ve felt different about what I wanted to say to you today.

As an American-born, white female, I not only have the privilege that came with the lottery of my birth, but I also have the privilege of being an entrepreneur with a modest platform to voice my opinions.

As fellow entrepreneurs, no matter what race or gender you are, you also have a platform in which to express your beliefs.

That doesn’t mean it’s always easy to figure out what you want to say.

Last week my good friend and I were texting back and forth about how to address the murders in Minnesota, Baton Rouge and Dallas, as business owners.

The conversation went something like this:

“WTF is happening to our country?”

“I feel guilty doing other things and not saying something, but I don’t know what to say.”

“Isn’t it better to say nothing at all than to say something uninformed?”

“I feel like anything that comes out of my mouth sounds like I’m trying to be a better white person than the next.”

“Agreed. But then it’s like, get over how it makes you feel. This isn’t about you.”

And so it went…

I fully recognize how unfair it is that my friend and I are able to have (and leave) this conversation at all. For many Americans, this is the life they’re living. They can’t escape it.

For the past week, I’ve gone back and forth about what to write and what to say.

And yes, I considered saying nothing.

But what I came to realize is that it’s not so much about having the perfect words as it is about having a voice.

There are writers far more articulate than I, who are far more versed on these issues, and my instinct is to tell myself, “Leave it to them. They know more. They’ll say it better.”

But that’s not the point.

As entrepreneurs, we hold the expectation and the responsibility of being the changemakers, the freedom fighters, the revolutionaries.

If you have a public platform, then you are privileged in a way that so much of the world isn’t. And I want you to know that bringing your voice to this conversation, despite how awkward or scary it may be, matters.

It doesn’t have to be perfect.

We can take action together towards fighting for justice and the fair treatment of our fellow humans — in a way that doesn’t sacrifice our brand, or go off message or lead customers astray.

Because when it comes to having a message, acceptance, tolerance and love are universal.

 

 

 

 

Additional resources:

This is the best piece I’ve found on the tangible action steps that can be taken to create change via The Huffington Post

Why do we stay silent when racism is all around us? By Nisha Moodley

Code Switch is a podcast that explores race and culture.

 

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How to Define the “Why” Behind Your Business

Last week, I was having celebratory drinks with a friend right around the time applications to Factory45 were closing.

“So…” she asked. “How did it go?! Did you have a lot of awesome people apply?”

When I told her yes, that I doubled the applicant pool and grew by 156%, her next question was:

“What’s next then? Are you going to blow this thing up or what?”

I took a sip of my drink, giving me time to try and come up with an answer that wouldn’t disappoint her.

“I don’t think so…” I said. “I like keeping things relatively small and manageable. I like having work / life balance and not being overwhelmed by a ton of other commitments.”

As the words came out of my mouth, I knew how they sounded.

Unambitious, at best.

Lazy, at worst.

My friend, on the other hand, runs a women’s clothing brand and is gunning for an IPO.

Her and her business partner dream of ringing the bell at the New York Stock Exchange, having hundreds of employees to manage, and working out of a big corporate headquarters.

Me? I just want to be able to go to yoga at noon on a Tuesday.

While there was once a time that I dreamed of running a 7-figure business, the “why” behind my work has changed over the years.

And having been on both sides of the spectrum, I can tell you there isn’t a right or a wrong motive for doing business.

What can get you in trouble is deciding to start a company and not having a “why” at all.

Thanks to Sheryl Sandberg, the “Lean In” movement, feminism and the amazing work that female executives are doing to boost leadership, women business owners are being pushed to want it all.

Yes, we hear, you can be a CEO and be a really great mom.

And while I believe that’s absolutely true, it doesn’t mean that you have to want it.

Is it okay to start a business so your family has an extra $1,000/month in spending money? Yes.

Is it okay to start a business so you can quit your full-time job and be at home when your kids are done with school? Absolutely.

Is it okay to start a business so you can work remotely and travel the word? Of course.

And YES, it’s also okay to want to be the next Tory Burch.

At the very beginning of the Factory45 program, I ask all of my entrepreneurs to write down the “vision” for their company in a one-page business plan.

Lately, I’ve been thinking about how we should all be asking ourselves to write down the “vision” for our lives, as the owners and creators of our businesses.

As you take this big step and make the commitment to embark on entrepreneurship, ask yourself:

What is my “why?”

What are the personal reasons for wanting to start a business?

Is it for fame, for glamour, for wealth, for freedom, for security, for flexibility, for fun?

As time goes on, your answer can change. But it’s your “why” that’s going to keep you moving past the hurdles and the hard times.

It’s your “why” that’s going to define you as an entrepreneur.

And whether you’re the entrepreneur who comes home at 10pm every night, fulfilled by a hard day’s work, or the entrepreneur who works 30 hours a week and has afternoon dance parties in her home office, only you know what will move you and drive you forward.

Define your “why” and you’ll be that much closer to defining your business.

 

Photo credit: Bench Accounting

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From Journalism Student to Fashion Entrepreneur: What They Won’t Tell You

Ever since I graduated in 2008, I have been some sort of entrepreneur. Ironically, my worst grade in four years of college was in my “Entrepreneurship 101” class (heyo, Professor Rossi).

What I realized later on — that they don’t teach you in an academic setting — is that entrepreneurship has very little to do with getting good grades and is so much more about being able to take a risk.

My first experience with big risk-taking was during my senior year of college when I bailed on the law school entrance exam and booked a one-way ticket to Australia instead.

That one decision completely changed the trajectory of my life, and I spent two post-grad years bartending and traveling around the world, from Australia to Southeast Asia to South Africa.

When my parents thought I was coming home to get a “real job,” I would only stay for a few months, bartend every night, save up more money, and leave to travel again.

fashion entrepreneur

When I eventually returned to the States in 2010 I brought my wanderlust and relentless craving for adventure with me.

I had once been the girl who envisioned herself in the corner office — but after two years abroad, I knew that I would never get a “real job.”

I wanted to create something bigger than myself. I wanted to start a business that would allow me to wake up every morning and go after my dreams. Maybe you can relate… I didn’t want to help build someone else’s dream.

It was a divine twist of fate when I got a Facebook message from a friend shortly after I got home. She said she was going through a “quarter-life crisis,” dreading the possibility of sitting in a cubicle all day, and suggested we start something together.

That “something” turned out to be a sustainable clothing company.

Of course, it didn’t happen immediately. Little did we know, we were about to embark on a three-year journey into self-discovery, entrepreneurial freedom and the pursuit of living life on our own terms.

Our plan was to create a company that would be 100% made in the USA, using fabrics and materials that did the least amount of harm to the environment as possible.

It was called {r}evolution apparel, a sustainable clothing company for female travelers and minimalists, and it prompted my early exploration of conscious consumerism and the practice of living with less.

fashion entrepreneur

I learned about the downsides of fast fashion: the environmental damage, the humanitarian violations, and the psychological effects of modern-day consumer culture.

These realizations completely changed me, and I decided to dedicate my career to creating a more conscious world where people see the power of voting with their dollars.

That’s all to say, we quickly found out that having a “vision” wasn’t enough. We were naive, unversed in industry lingo, and had zero connections in the fashion industry. It became obvious very early on that what we were trying to accomplish wouldn’t be easy.

We spent money on the wrong things, made every mistake possible, wasted time pursuing leads that ended in dead ends and continuously took two steps back with every one step forward.

Looking back at the emails I sent to fabric suppliers, I now know that my inquiries surely got a swift click of the delete button. I didn’t know how to talk to industry veterans, I had no idea how to walk “the walk,” and it showed.

But after a year and a half, having nearly depleted both of our savings accounts, the stars aligned.

fashion entrepreneur

We received a response about a private label inquiry we had sent on a whim to a general contact form. After a few meetings, we made the decision to source and manufacture our first production run under the guidance of a company who had done it before.

The company was a startup itself but was farther along and had the production infrastructure that we lacked. They also had the knowledge, connections and reputation that we needed on our side.

After pushing forward solo for so long, we had found someone to take us by the hand and walk us through the process.

We had finally found the mentorship we needed.

More doors opened at the end of 2011 when we launched a Kickstarter campaign to fund the first production run of our signature piece, the Versalette, one garment that can be worn over 30 different ways.

fashion entrepreneur

What happened over our 30-day campaign far surpassed our wildest dreams. Not only did we acquire nearly 800 new customers, quadruple our first production order and attract the attention of The New York Times, but we finally saw a year and a half of hard work pay off.

Having gone through a unique entrepreneurial journey, I had developed a set of skills that were totally unexpected. I knew from my experience with the Versalette that breaking into the fashion industry was very difficult, and I wanted to make it easier for other aspiring entrepreneurs to do the same.

It’s my hope that I can continue to foster a space for creativity and collaboration while helping others start down their own path towards creating a business.

In the last few years, I’ve helped entrepreneurs all over the country set up supply chains in the U.S., source sustainable materials and bring their products to market.

fashion entrepreneur

Factory45 is the program I created for entrepreneurs, like me, who have a vision and a plan but need the mentorship, framework and resources to get started.

If you have your own plans to launch an apparel brand, I hope you’ll consider joining me through your journey. Mentorship is the very thing that pushed my first company forward and I would love to do the same for you.

 

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