Posts in category 'Business Growth'

The New Normal: Bringing Your Business Out Of Lockdown Fog

Posted 21st of November 2020 by Idea Girl Media
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The New Normal_ Bringing Your Business Out Of Lockdown Fog Outlined at Idea Girl Media

Did the economic conditions during the Coronavirus global pandemic decrease your revenues? You are like any business owners looking outside the box for the new normal. Here are five steps to success…

5 Steps To The New Normal After A Global Pandemic

There is no denying that businesses struggled during 2020. We have found that the Coronavirus global pandemic and Covid-19 lockdowns caused changes to buyers’ habits due to personal financial situations. Not a year kind to businesses.

Some entrepreneurs managed to thrive under the circumstances, and have taken a different approach to the way they lived their lives and approached their business. Your company may be struggling. But there are options.

For business owners and entrepreneurs, this article discusses the key steps to setting “the new normal” — Bringing your business out of the lockdown fog.

5 Steps To The New Normal After A Global Pandemic

Diversify Your Business

One of the first things you need to think about would be to diversify your streams of revenue:

  • Adjust your client base
  • Re-calculate how money flows to your company
  • Re-align product and service offerings to new customer needs and demands

If you have not already done this, it is time to audit this area of your operation. Start thinking about fresh ideas to bring customers and clients and expand your business.

The world has changed, and it is time to embrace the new normal.

Strategically Outsource

Once you’ve evaluated your workflows and client base, you may find new tasks that need to be done, and no current team member qualified or able to add them to their work load. You might also find it is not plausible to hire on a full-time staff member or develop a dedicated department.

Take the opportunity to bring on contractors to fill any skill gaps. You’ll find expertise. Plus, you avoid the initial costs of hiring a full-time employee while finding a good working rapport.

Commonly outsourced:

You need to focus on areas where you can make the most cost-effective difference. This can be the best way to focus your energy on areas where you can make a difference stabilizing and expanding your business.

Embrace A New Approach

Maybe lockdown has made you realize that you need a new approach to the way you run your business day-to-day. Perhaps this means:

  • Your brand exists only online
  • Working from home becomes the norm
  • Operating your business in a hybrid system of in-office and online

Chances are there are ways to streamline and become more efficient. Many entrepreneurs are now operating in ways they never thought would work, but now the new methods do.

Prioritize Marketing And Social Media Presence

This is the perfect time to focus on your marketing plan and social media strategy. Now more than ever people are solidifying their online presence as a way to find new customers and collaborators.

Your marketing plan should include traditional marketing avenues to keep and attract potential customers that are not keen to online transactions. At the same time, a social media strategy will help you reach new customers in new ways, resulting in probably new and increased revenues.

Social media is a cost-effective way to share news and developments about your business, which builds trust and brand awareness.

Plan For Growth In The New Normal

Just because economic conditions are challenging does not mean your company cannot thrive. It’s about finding the pain points of your customer and meeting them at any given time. Pair that with efficient business processes, and you win!

A new year could mean it is time for a new plan. Is it time for a whole new business plan for your company? Plan for growth by closely evaluating every:

  • Team member
  • Department
  • Customer portfolio
  • Vendor portfolio
  • Workflow

And any area of your business you have not examined in awhile. This is the time. Most entrepreneurs are finding “the new normal” for their niche. You simply need to plan to ace it. Plan.

A Business Strategy For Your Award-Winning Fashion Brand

Posted 19th of November 2020 by Idea Girl Media
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A Business Strategy For Your Award-Winning Fashion Brand outlined at Idea Girl Media

Since the rise of the gig economy, several have disrupted the apparel and fashion industries with now top brands. Looking for a business strategy model to emulate them? Here are seven steps to get you there…

It Takes A Smart Business Strategy To Create A Fashion Brand Everyone Will Want To Wear

You may have always dreamt of starting your own award-winning fashion brand, but have you ever really thought about what goes into that? There are a number of critical steps that you need to take when it comes to starting your own clothing line. 

In this article, we’ll look at how you can develop your own fabulous fashion brand with a list of business strategies that make up a quick guide. Here is a business strategy for your award-winning fashion brand in seven doable steps.

Find Your Niche In The Marketplace

Before you even start designing your products, you should think about where you would like to situate yourself in the market.

  • Do you see your brand as a high street player?
  • Can you design fast fashion that sells in huge volumes?
  • Do you see your team carving a niche followed by fashionistas?

Decide where you want to position your brand and aim for that corner of the market. But be certain: there is no room for trying to cover too many bases.

Align Your Business Strategy And Your Marketing Strategy With Branding

What will your brand name look like on the hang tag? On labels? On social media?

Do some market research around some of your finest ideas and see how potential customers would react to your intended brand name and image. Once you have branding in place, you’ll want to be consistent in presentation.

Invest in quality work and get it right the first time. Re-branding should not come until many years into the future.

Create Designs That Captivate

This is the fun and creative part. You get to create the designs you’ve dreamed of selling. You probably have sketches. Now make some mock-ups.

Remember, you’ll need to generate a tech pack that a factory can follow when it comes to manufacturing your garments.

Business Strategy Must: Keep One Eye On Your Finances

Running a creative business may seem like a dream. However, it is still important you put some focus on the serious aspects of the business.

You’ll need to draft budgets and business plans for:

  • Lenders
  • Stakeholders
  • Investors

And your internal leadership team. These official documents will be essential for securing funding and investment. 

Sell Your Products Online

If you want to be a niche brand, you may want to start selling products yourself on your own website before an official launch.

Find a web developer that will make you an eCommerce platform and enlist the help of a customer service team that will help you manage all of the orders that you receive.

You will need to utilize social media platforms – particularly Instagram. Build a strong following to help create a positive brand reputation.

Market Your Products To Retailers

If you want to reach a wider market, you may want to approach some well-known retailers and department stores with similar products in the hope that they will want to sell your items. This is a great opportunity to develop regular customers that make bulk orders. 

Before you meet with them, have professionally made samples and provide as much information on your fashion brand as possible.

Produce Your Designs For The Masses

Before you have secured orders from your own website and trusted retailers, you will need to arrange for the manufacture your designs.

You may choose to run your own factory, or you may find it cheaper to outsource this. Usually, overseas.

Beware of the potential ethical issues in using cheaper labor and try to provide a fair wage. The wrong moves will bring your brand a bad reputation. Make decisions that help you avoid that situation.

Which Aspects Of Your Business Could Be Outsourced?

Posted 15th of November 2020 by Idea Girl Media
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Which Aspects Of Your Business Could Be Outsourced? Question answered at Idea Girl Media

For most small business owners, at the early stages you might not have funding to cover big teams of professionals to serve all departments of your operation. Here are seven areas that can be easily outsourced…

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