How to grow a small business into a large business? It is best to start with a strong foundation and long-term plan. Before you do anything, consider these four concepts for growing small business…
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How to grow a small business into a large business? It is best to start with a strong foundation and long-term plan. Before you do anything, consider these four concepts for growing small business…
Continue reading →
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…
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.
One of the first things you need to think about would be to diversify your streams of revenue:
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.
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.
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:
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.
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.
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:
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.
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…
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.
Before you even start designing your products, you should think about where you would like to situate yourself in the market.
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.
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.
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.
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:
And your internal leadership team. These official documents will be essential for securing funding and investment.
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.
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.
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.
