There is power in focus for fashion entrepreneurs because a lack of focus leads to scattered resources. Focus involves the ability to pay attention to things that will help and avoid distractions that will hurt your business. I speak about lack of focus a lot in my blogs because to me it is one of the single most destructive thing I find fashion entrepreneurs suffering from. I call it the bright shiny penny syndrome, some people call it business ADD. But whatever you call it doing it is not a good thing to indulge in.
Recently I sat down with a client. She showed me several new lines she was thinking of taking on. She was also thinking of adding the West coast trade shows to the list of shows she was doing. The problem was she is just one person. She had not even come close to building her business with the lines she had and they had huge potentials. The new lines would be for different buyers so she wouldn’t be able to leverage existing relationships. Finally the East Coast was so underdeveloped that just building that would be a full time job. These were things that I convinced her were not something to take on yet.
When your resources are limited focusing is a powerful tool. Concentrating your activities will help your business gain momentum because each step builds on the step taken before. Instead of doing a task here and there that do not relate which builds nothing.
Think of it like you would compound interest. Albert Einstein called compound interest “the greatest mathematical discovery of all time.” In terms of money, compounding is the exponential increase of an investment. But in simpler terms, compounding is interest you earn on interest.
Applying the same principle to your fashion business by focusing your efforts you can compound your results on selling, marketing, and generally building your fashion brand. That is the power of focus!
Maria Pesin knows fashion, especially the business side of the fashion industry. Do you know how Manolo Blahnik got his start in the industry? How he leveraged a paltry 3 grand into one of the world’s most famous luxury brands? While she doesn’t take credit for Manolo’s success, Maria has walked a similar path on numerous occasions. The world of fashion is not silicon valley, and it has nothing to do with Madison Avenue marketing. In this industry there is ALWAYS room for something new and exciting, but you have to have your ducks in a row. If that’s what you need, believe me, Maria is the General Patton of fashion ducks!