4 KEYS TO UNLOCKING YOUR FASHION BUSINESS STRATEGY
Article by Gretchen Harnick
Philosophy of People
Magazine: Issue #21
Maybe you’re one of those people who thinks they know exactly what to do for their business strategy. And why wouldn't you? It's been in that head of yours for years. Or maybe you’re one of those who feel they need a lot of help: from family, friends, the gal at the coffee shop. Everyone has a skill who can help you put this dream of yours together.
These may be two extremes but tragically oftentimes result in the same ending – a failed company.
- A Tight Knitter holds on, and never asks for help.
- A Loose Thread spends a lot of time and money hiring outsiders. You not only lose control of your idea, but also your brand identity.
How do you avoid being the Tight Knitter or the Loose Thread? Follow the Four Keys to Unlocking your Fashion Business Strategy:
1| Know your business strategy. Like actually write a business plan. I know it sounds painful and NOT creative. But did you notice the title of this article is fashion BUSINESS strategy? Not fashion hobby strategy. You’re in this thing to actually create a business, right?
2| Once you know all the moving parts of this business, separate yourself from it. Ask, “What does the business need? How can I feed it the highest quality nutrition?”
You do not have time to be an expert in all things.
3| Consider how far you can get without hiring someone. Go to the end of that rope, and really struggle. No one can get inside your head and organize the strategy. Only after you organize, you really see where you need to hire.
