Every aspiring Designer will believe that he/she has the ability, skills, experience to become a Designer and set up and launch a global fashion brand.
And they are right.
Believing in yourself is the first step towards success. However it is not the only one.
Go and interview 10 Designers and ask them to honestly answer a few questions about their journey in the Fashion world.
Make them think about past specific events, opportunities or challenges and ask them to give you the context, process and logic around the decisions that were made.
If they were to go back to that time but with the insight of today's experience, what would they do differently and why.
What Designers often forget is that to build a successful Fashion Brand, you need to
* build the Brand as a business and not a hobby
* become a Business Designer - having a business mind
Make sure you are well funded and that you care about your products and your cash. It can be you or your partner whether from the inside or theoutside.
For some Designer, we act as their Financial Advisor ensuring they have the right pricing, margins, budgeting, cash flow projection, contracts to reduce risks...
Check what the London Fashion Business Academy can do for you.
The Academy is here for you to learn most of the golden rules to follow. It is here for you to learn the mistakes you must avoid as those will save you hudreds and thousands of £/ $ or €.
In January, a brand exhibited at a trade show however they were not familiar about the markup from wholesale to retail.
If you fail to give the retailer the sufficient margin to survive then there are no reasons for buying the collection. They invested in excess of €5000 and picked up no orders.
They lost the trade show fee, 5 days of work excluding all the preparation time before the show.