Hey, wondering if anyone here has started their own business?
This is a big future goal of mine and just wanting to gain some insight and advice from someone who has started their own business from the ground up (particularly in the fashion and textile milieu but all insight welcome!) Thank you
Replies15
- Its one of the most exhilerating personal growth journeys you could go on IMO!1.Make sure you have a 12-18 month runway of income (job or savings or other) while you build it - the beginning is the hardest - most businesses fail because people quit or don't evaluate.2.Create a 'minimum viable' version of your offer so you can test and iterate, get feedback, see what worked, learn how the process of putting something out from start to finish feels - do this asap - the faster you turn possibility into practicality the faster you get to the results you want.3.Employee/school mindset is all about gettign it right and pleasing authorities. Business owner mindset is the opposite - getting it wrong, taking calculated risks, failing = data, is how you succeed. The more you have your own back, and willing you are to feel and process all the emotions of that - the bigger steps you will be prepared to take, adn the bigger success.4.Network, meet people, build relationships - as many as possible, and don't have to be relevant to your business or goals. The goal of this is to exprience introducing yourself as your business owner/founder/new self - so that YOU believe this is who you are. And the side benefit is that your impact expands, unexpected connections happen. Real relationships matter much more than setting up shop, looking professional, etc.5.Build an audience by taking them on the journey with you - behind the scenes, heros journey, authenticity and transparency = connection and far more long lasting than closed mystique and trying to look like the business you are building 5 years from now.What is your first step?
- I thought that launching a startup is the most difficult thing and nothing else is required. But you need to develop your business and use the support of various experts. One day I decided to go to the site https://wow24-7.io/saas-customer-support-outsourcing and learn more about outsourcing. It turns out that such services improve the work of the company and production shows good results.
- Thanks for sharing!
- Happy to connect!
- i have a luxury accessories start up, lots of slod advise on here already so i just wanted to say that the only thing you have to fear is fear itself. just start going full speed ahead with your idea! i had my idea on the 1st October and we received confirmation if investment just yesterday and will be officially launching in feb 2020!
- Hi Daria. I have started quite a few businesses and currently 2.5 years into my latest venture which I co-founded with the brilliant @Nadya Powell - Utopia (a culture change business). You have had plenty of great advice from some fantastic entrepreneurs so will build on what they have said. 5 things I would say:1. Consider taking the pressure off a litte by firt setting up your business while it is still a side hustle while you are still earning. I ran Creative Social for 7 years while I was running other businesses and had a guaranteed income. It really takes the pressure off and means that you can test your idea without the pressure of earning money immediately2. Teach yourself about the basics of running a business. It is often the small things that can overwhelm new entrepreneurs3. Consider finding yourself a partner. I have run quite a few businesses on my own but they have never lasted that long simply because I found it very lonely. Having someone by your side means that not only do you halve the pressure but it also means you have someone to bounce ideas off. And when looking for a partner, look for someone who has complimentary skills4. Cash flow. Cash flow. Cash flow. Whatever you do make sure you stay on top of money coming in. Most businesses that fail in the first year are because they run out of cash rather than not making a profit5. Make sure you do something you love. Running your own business can be really hard work and in short term you often need to make sacrifices. So make sure you love what you are doing.But whatever you do, don't forget to have fun. Good luckDaniele
- Hi Daria,Business First. The first piece of advice I would give is to make sure that you understand how to set up a business. Even if you do a short business course that will help. I’m sure there are loads online. Then do a business plan and package it. When you sell yourself, this is as important as a portfolio or a creds deck. Then I recommend, before you do anything else, to get yourself a good accountant. Make sure you understand what your legal obligations are. Use your plan and package to pitch yourself to them. If you are convincing (accountants are the most cynical people around, I know I studied it!) then they should give you a good deal. For start-ups you can normally get massive discounts on stuff like this. Trust me, this will provide much less work and avoid problems in the future. Get out There. I would highly recommend making friends with other people that do what you do. Go to their events, meet the people in the social circle of commissioning. At one party you can meet as many people as it takes you four weeks to meet. Make yourself sociable and find out who the people you need to talk to and introduce yourself to them. Plant seeds. This will definitely be controversial, do some work for free. Working for free, offering to do things especially for charity, is like planting seeds. I’ve done it my whole career and they’ve always come to fruition in one way or another. It gives you something to talk about and shows that you can work to a brief and do great stuff. It will also help you create a database, which you can send newsletters to. If you can do it with small commissions, good for you. I’ve never been able to do that. Alternatively do your own work and make things that start conversations. This is all about having the discipline to always be working, which I cover later! Work begets work (if it’s any good). Social and Newsletters. Like planting seeds you need to do this religiously. Make sure you understand social media, plus all networking apps and sites. Be very disciplined about it. This is the window into your world, take it seriously. Again this will help you promote what you do. Think about what you’re posting and how you’re connecting. Newsletters are by far the best way of getting your work out there, spend time on them to make them interesting and a good example of what you do. Humour always works best in my opinion. Long Hours and Discipline. Work hard. You have to be prepared to work all hours, to knock on as many doors as you can, to keep pushing yourself and be incredibly disciplined. Giving yourself a working day is super important. Dividing your time up between the different elements; sales, accounts, creative etc is essential. Ask for Lots of Advice. One of the best piece advice I was ever given was never try to show someone your work, but instead to ask for someone’s advice on it. When you make someone feel good about themselves and what they think about you, you invite them into your world. Don’t be afraid to ask for help or to take risks. Both are invaluable experiences for making work that gains attention. Sales. The last thing I recommend. At first - do NOT rely on anyone else for sales. Sales are what drives the business, understanding them is as important as the work you create. If your business does well you can always employ somebody to do it for you. But understanding it is essential. Good luck and hope you make a success of it! rankin
- Hey Daria, lots of good advice here so I'll keep this brief. It depends what business you're planning to launch in fashion but from my experience, all businesses need to be super pointed. Why does anyone need what you're selling? Find your audience and stand out for them. Don't be scared to be divisive. I'd rather 95% of the world said "Truant isn't for me" but leave the 5% saying "I have to meet those guys". Good luck and feel free to message me if you have any more questions.David
- Hi Daria,I started multiple businesses in my life. From Games to tech, content related and a 3D printing Fashion marketplace.On my YouTube channel I share TONS of insights and advice to young aspiring entrepreneurs. They go from how to start a business, to raising money, making money, negotiate a freelance contract, build your confidence and even manage anxiety.I highly encourage you check them out on YouTube.com/BetaLuccaHere are 3 I selected for you to start with:https://youtu.be/ddhdvetFxgshttps://youtu.be/DXdnnTkyBfghttps://youtu.be/GeFKJnbDh9UTruly hope this helps you :) Keep me posted!
- I have started a couple of businesses, but one of the biggest privileges of my life has been witnessing the 5000 small businesses on Notonthehighstreet starting theirs.I’ve watched as they’ve followed their journies - all unique in there personality and products, and often feeling quite alone - but I’ve seen that however different the actual business is, they all tend to face similar hurdles.From their first time hiring, (and firing) to when to move to a bigger space, to wholesale pricing or which way to go when you're running out of cash! - I’ve been through it all myself.I am often asked what is the one piece of advice I would give to someone starting up a business - well I would have to say it is to trust your gut.There will be many people keen to give you advice or offer their opinion. As you grow you’ll take on ‘experts’ or be led by data. All these things absolutely have their place in your business, but what makes your business unique is you. You know your business like no one else ever can - I call it the founder magic. So when your gut instinct is telling you something - you must listen.I call mine, my internal compass. The biggest mistakes I ever made we’re ignoring my gut instinct. It sounds easy, but actually I am still learning and training myself to listen to it every day!I wish you all the luck - you are about to start on the most fantastic journey
- Hi Daria,What a fantastic ambition and great that you're thinking about how you might achieve this.I often work with creative services businesses' and I wrote this article to give creative people food for thought before setting out on their own - https://www.creativebloq.com/features/3-steps-to-starting-your-own-studioAlongside the practical elements of money and clients (which I cover in the article), it's really important to have fun and surround yourself with people that can support you on your journey. If you enjoy and believe in what you're doing, you'll find a way to make it work.Have a great weekend.Zena
- Hi Daria. I co-founded Cotagious - a publishing company and advisory service for the marketing industry - 15 years ago (we're still going strong, thankfully!). I would say that you have jumped the first hurdle by having a passion and a skill for something. So many people fall into the trap of launching a business just to make money, and see it as a means to an end. I always find that authenticty (and talent, obviously) wins out in the end. My advice to you - based on my own experience - would be to consider launching in partnership with someone you admire and trust. I found it invaluable having a collaborator to bounce ideas off, share the risk and double the network of people we could tap into for advice, custom and testimonials. In your case that person needn't necessarily be 'creative' - it could be someone who takes care of operations, accounting, marketing, fulfliment, etc - but I've found that if someone has some skin in the game (such as a stake in the business, share options, etc) then they are generally even more committed and feel a greater sense of ownership. It becomes a shared journey. Good luck!
- Hi Daria,There are many different kinds of business models in your industry with different potential outcomes and different levels of risk involved. A good starting place is to think about how you want your life to be, how ambitious are you and then start thinking about how a business you start can make money and how it can define itself. I would recommend you look for people who have started similar kinds of businesses and ask them to share their experience and also to go to events through places like Huckletree and General Assembly to hear people who are a bit further along from you.good luckFleur
- Hey Daria, yes I have. Also I have some contacts to connect you with in the fashion industry, feel free to DM me :)
- Hi dear Daria Iwon In particular you have to choose your target audience, whether the sales are online or on your order. In the first two years you will feel fluctuated in your business, it does not have to scare you, there are signals that tell you that you need to revise the strategy. I wish you success and perseverance! Gety Dear Creative director/owner Dear Dear Fashion
You must sign up or log in before you
add a comment.