I’m serious. These are 7 strong reasons why you shouldn’t start a fashion business. It looks glamorous from the outside but trust me, it is tough. In as much as I help fashion business enthusiasts start and grow their fashion businesses, I understand that it takes more than a wish to look fabulous to actually run a fashion business.
Launching a fashion business is the easy part. Running it requires a lot of work. Granted, you are a pro fashionista. But maybe, that’s all it is.
Having the perfect fashion taste doesn’t mean you’ll make a successful fashion business owner. You really can’t profit from all your hobbies. And maybe fashion is one of them.
So you are great at sewing? You may not be cut out for doing it professionally and succeeding. Maybe sewing for pleasure is what is best for you.
This blog will help you decided if you are cut out for the job. You’ll know the mindset, and traits you need to possess to actually succeed in fashion business.
Here Are 7 Strong Reasons Why You Shouldn’t Start a Fashion Business
1.) You Aren’t Ready for the Responsibility
RESPONSIBILITIES! You’ll be responsible for a lot of things and have to be reliable. If you are unreliable, your reputation will be ruined in no time and that is bad for business. I’m not going to tell you is will be easy. You’ll be responsible for people and your products too. Everything from marketing, negotiating salary with new employees, pricing your products for profits etc. You can’t launch your business and crawl back into your shell because you are an introvert.
You’d need to have a can do attitude and show up every day even when things aren’t going as planned. You might never get encouragement from others but be ready to dish it out to your employees because mindset matters. If your employees feel you have lost hope in your business and are as confused as they are, they’d start job hunting in anticipation of your business failing.
2.) You Have No Funding Plan For Your Business
You really shouldn’t start a fashion business. I’m serious. Even if you are super talented. Just take this as free expert advice and express permission to GIVE UP.
Don’t get me wrong.
You don’t need to have the cash ready or money in the bank. But you need to have a funding plan in place and know how you’ll fund your business. That’s why I wrote about what to do before you quit your job or you’re screwed. Funding is very important because your passion really can’t fund a business.
You’d need to have a funding plan in place before you think of launching. I can’t sugar coat that.
3.) You’re Not Willing to Network.
What’s your excuse? You’re an introvert? Launch like a pig? Don’t know what to say? I’ve heard it all. Seriously. You shouldn’t start a fashion business if you’re not willing network.
You’d be leaving money on the table if you don’t network. I have written a lot about networking in the past. My free 6 day email course on how to network in the fashion industry is still available.
In the free email course, I share all my networking strategies. I’m sure you’d love it. You need to learn to network or not start your business at all.
4.) You’re Unwilling to Hire Help
Some fashion business owners know that they are not good with social media but stubbornly refuse to outsource. What’s your customer response plan? Will you be able to reply customer queries and handle all types of complaining customers? Maybe you’re good with social media and your customer response is pretty solid.
Congratulations. What about your launch/marketing strategy? Are you sure it will fly? I know because I help fashion business owners get clarity and launch and they see a huge difference in their business.
I’m sure you know your strengths and weaknesses. You have to admit to yourself that you can’t do it all alone and need help. I have staff that work for me. Because I can’t be everywhere and do everything myself.
5.) You’re Aren’t Willing to Learn Business
Granted. You know fashion.
Do you know the business aspect?
I’m not talking about business generally. I mean specifically fashion business.
A lot of fashionpreneurs I meet don’t get their business off the ground because they are 100% fashion savvy and 0% business savvy. That’s why a lot of great pieces never get sold and some businesses close.
Last month, I exchanged a lot of emails with a couple of fashionpreneurs in my email list. I couldn’t be more proud of them for understanding that the business side of fashion is just as important. People keep paying for fashion school that imbibe fashion skills without teaching them how to actually profit off those skills. So if you are not willing to learn fashion business and are only interested in fashion. Then you really shouldn’t start a fashion business. Fashion is your hobby and you can’t profit from all of your hobbies. Make peace with it and move on.
6.) You’re Not Open to Change.
This is just annoying. Really. The fashion industry is fast paced. What worked when I started my business almost 15 years ago, isn’t working so great now. I mean, major fashion social media platforms like instagram and twitter were launched in 2010. So things are changing.
If you aren’t open to change, then you’d be left behind before you even launch your business. That would been great if you are going back in time to sell. Since you aren’t you had better open up to change or don’t start a fashion business at all. If you ignore my advice and start, your business will fail this year.
7.) You’re Impatient and Looking for Fast Money
Fashion isn’t a get rich quick business. The money won’t coming rushing in from the start. You have to invest and put in work for you to see consistent profit. You’d need to give your business time. Show up when the chips are down and continue to improve as you prepare for your big break.
If you can’t wait and need fast money, then you really shouldn’t start a fashion business. No one will hold it against you. Start something else that brings money faster
Did any of these points hit a nerve? Don’t worry about it. Maybe you can work in another fashion brand and not necessarily run your own. Entrepreneurship isn’t for everyone. Just don’t let anyone pressure you into starting.
If you need more help to launch your business then join the waiting list for my fashionpreneur Launchpad e-course coming in a couple of months.