Fashion Entrepreneurs are a special breed. They tend to think creatively, they thrive on chaos, they have total faith in their products. And chances are they haven’t had any special business training. What they do have is passion, passion for the product and the industry. Many fashion entrepreneurs have dreamed of starting a business for years and feel that if they don’t begin a business they will always feel they missed out on pursuing their dreams. Of course that doesn’t mean they are all running their businesses effectively. However they increase the ability of their success if they follow these habits.
- Habit #1 – They put a substantial focus on sales and marketing. They consider this one of the most important aspects of their jobs so they spend a lot of time doing it. Every product they design is made with the goal of sales in mind. Thinking of creative ways to increasing their sales is paramount in their minds.
- Habit #2 – They are fiscally responsible. While they know they need to invest money to build their business they are careful how they do it. They know their financial picture by heart and are rigorous about keeping a good cash flow. These fashion entrepreneurs know that sales without profit is meaningless.
- Habit #3 – They stay focused on the big picture. It is very easy to get bogged down by the minutia of running a business. However effective fashion entrepreneurs know that the things that drive the business forward is the best use of their time. So if something is not a productive use of their time they don’t do it. The most effective I have seen get right to the point on phone calls and in meetings. They don’t have an open door policy but rather encourage their staff to solve their own problems so that the owners can concentrate on moving the needle forward.