How To Start Your Own Business: Part 9 - 7 Secrets To Make Your Fashion Business A Success
7 Tips For Your Business To Succeed
Be Self-Disciplined and Motivated
You're the boss and your business is nothing without you. Without disciple and motivation you will not succeed. If you have a staff, remember they are looking to you for and watching your every move. Inspire them by being a leader who is self-diciplined and encouraging!
Show Business Acumen
It is imperative to understand everything about your business - the products and their applications, market drivers and the realities of your business at every step of the way. Base your decisions on facts and figures whenever you can. Otherwise, it's vital that you trust your instincts. Never ignore a gut feeling. Be discerning and quick to size up and grab an opportunity when it presents itself.
Demand for products and services, and the way business is done in the fashion industry, are all constantly changing. As the owner of your business, you have to be alert and sensitive to these changes. Develop the ability to foresee trends and find innovative ways of staying ahead of the competition.
This is a key attribute every leader should possess. Make plans, organize your work and manage your time well. Being organized will allow you to stay in control and will help you to remain alert to new opportunities coming your way.
Use Your Powers Of Persuasion
You spend much of your waking hours persuading people to do what you want or to see things from your perspective. As the owner of a business, your powers of persuasion are crucial. You'll have to persuade:
- Your employees/staff, to see the good sense in the business strategy, office discipline and systems that you want to adopt;
- Your customers/clients, to see the advantages they gain from buying your products or services;
- Your suppliers, to understand that they get a better deal by working with you;
- Your bank; to see that your business plan is sound and that you're creditworthy;
- Your family, to see that the new business you're starting will benefit everyone in the long run.
It goes without saying that when you give up your existing job, you run the risk of not being able to get it back if you need it later. You also risk losing the capital you will invest into your new fashion business. You must be certain about your ability to take on the risk that comes with working for yourself!
As the owner of a company, you will have to lay down the ground rules from the very beginning. Setting standards for quality and for establishing your integrity and credibility are vital elements to success in your fashion business.
This is the ninth post in a series of articles on How To Start Your Own Business.