Top 8 golden rules to launch your brand successfully
18 November 2020
Author: Thierry Bayle
HOW TO BUILD A GLOBAL & PROFITABLE FASHION BRAND DURING TURBULENT TIMES
So, you’ve finally decided to take action and turn your business dream into reality and to build sales for your Fashion Brand.
Are you excited? You should be! 2021 is the year for you to profitably monetise your dream.
The world is your oyster. People are waiting for your product both domestically and at export.
Why focus purely on your home market when you can go global at the same time?!
As you set up and scale up the business, you will face many new and complex challenges, but if you are well-enough prepared, you have nothing to fear!
Too often Designers want to only learn about positive case studies. There is value in this approach as it motivates you however those Designers forget to ask the right questions to identify the challenges on the journey to success.
Imagine the power you will have if you know the top mistakes and you identify a solution that will either minimise this risk or eradicate it all together.
Let’s learn from the mistakes made by the competition.
This is what you need to do:
1. Set up a clear vision for your brand with strong values and measurable goals. Measurable goals are a must when it comes to building the next 6 to 12 months, e.g.: “I want 5 Buyers, 20 leads; I want to post 2 videos every week on Facebook…”.
2. Build a Team around you. It doesn’t matterif this team consists of interns, part time or freelance staff, the important thing is that you get used to training people to do what needs to be done in your business. Your key service providers should also be seen as part of your team – it’s all about managing people to reach your goals.
3. Understand who your customer is and exactly where to find him/her. Understand what other Brands work well with yours (and are bought by your customer) to answer that challenge.
4. Manage expectations: every individual or service provider you work with should receive a job description or a clear brief from you. Service providers should commit to clear deliverables. If you fail to do this, the probability for success is greatly reduced.
5. Have a solid process for all key tasks in the business. Apply the 80/20 rule to identify the processes you will work on (i.e., 20% of your efforts will produce 80% of the results).
6. Spend time on identifying customers and strengthening the selling and marketing process every single week. It is the lifeblood of your business. Dedicate time, human and financial resources to this.
7. Have a clear process for project management. This will help to deliver your project on time and reach the results you expect.
8. Have a sounding board to challenge you. The right person will help you to see a red flag where you see a green flag with the reverse being true as well. Challenge that person as much as, or more than they challenge you. Always remember to leave your ego outside when you enter the room!
Good Luck. Be safe.
Thierry Bayle – Founder Global Fashion Management
Global Fashion Management – London Fashion Business Academy
Tel +44 20 8576 6233
WhatsApp +44 7951 198 769