5 Most Common Business Mistakes Fashion Designers Make and How to Avoid Them
I work with a lot of new fashion designers who are launching a line, or they have a line that isn’t making money, and many get stuck on the same issues.Here are the top mistakes I see fashion designers make over and over, along with ideas on how to avoid them and build a thriving fashion business.1. Not clear on business goalsWhen you’re launching a line or coming up with a new product you just get so excited – I’ve done it too! We’re designers, we’re super creative, and we just want to GO. The problem is, if all your work doesn’t get your line into stores to make money, your time and effort is going to amount to a hamster running on a wheel.To define your business goals, you need to ask yourself some hard questions, like:
How much do I need in startup capital?
How do I price my line to make money?
What’s the best sales avenue: online? Trunk shows? Home parties?
Who’s my competition?
Knowing where you want to end up can make a huge difference in how you start and what you design.2. A designer first, business person second.Although you’re a creative person, you really need to be a business person FIRST. I used to make mistakes like this all the time. For example, when I owned a store I would buy clothing that looked great in the store without thinking about who would buy it and how much money I would make. What I should have done was buy clothes that were good for the business. You have to use your business mind first – only when you’re focused can you let creativity flow towards a specific goal.3. Don’t use money for decision makingHere’s a typical conversation with a new client:Jane: “Which are your best sellers?”Client: “Oh, these are selling like crazy!”Jane: “And which items in your line are the most profitable?”Client: “I’m not sure, but these are selling like crazy!”Well, you could sell one or 100, but if the item’s not making money, neither are you. You need to make your design decisions based on:
How long you (and your business) can survive making little or no money
How much it’s going to cost you to start your business
How much you are going to charge for your items
4. You don’t have a nicheIf you don’t have a tight niche, people won’t know what you sell, or why or when they should buy your product over someone else’s.Focus on an apparel or accessory product that you can make better, faster, easier, or have better customer service than anyone else. Just one great thing about it that’s better than the competition (and this refers back to #1: know your competition). Pick a category, and do it GREAT. And then you can expand. You can design a whole collection. But I recommend you start with a niche.5. You try to do everything at onceI can tell you from personal experience: trying to do everything at once is not a sustainable business model. It comes down to my favorite topic in the world, which is time management. Creative people get interested in about 100 things a day, and there’s multiple ideas in your head at any time. Unfortunately, these distractions can be the kiss of death.You need to focus on the action items you can take NOW to make your goals achievable. For example: tell yourself, “I want to be selling to six stores in the next 4 months.” Then, focus all your efforts towards that goal and don’t let yourself get distracted. Focus and time management are big issues that really separate the men from the boys when it comes to business.If you think you’re ready to launch a line, or make more money on the line you have, visit the Fashion Brain Academy on Facebook to meet up with like-minded, creative fashion designers like you!