Industry Insiders and Career Coaches give input on how to ace in fashion business and navigate the hindrances thrown at the initial stage of the career. From marketing to networking , selecting a niche and more . If not guided properly, it all can pose a challenge in the business.
The Fashion Industry can be a brutally competitive area for emerging fashion enthusiasts , no matter if you’re planning on establishing your own business or fore thinking about working with a fashion label or a conglomerate . Knowing the art of impressing potential managers, retailers , collaborators and customers is a prerequisite to set up a successful business .
On November 1, Business Of Fashion organised a panel at Jimmy Choo Academy in London, catering to fresh talent in the city to endow them with the acuity of breaking out from the challenges in the early stage of their careers. The panel involved industry experts, including Daniel Peters, Mark Eley and Sophie Soar.
What Makes A Well Established Fashion Entrepreneur
A successful entrepreneur is a risk taker , fully equipped with the do’s and don’ts of business . Someone with necessary knowledge and grasp of skills required . Not only a right mindset, but also a creative and innovative mind is a mandate to excel in fashion business.
Skills Needed To Excel In Fashion Business
Business Knowledge
An important characteristic in a successful fashion entrepreneur is knowledge of business . Insights on how to establish , run and keep a business going is the key to a successful career in fashion business. Acknowledging opportunities, Understanding Finances And Taking Right Decisions are epitome to a good businessman.
Knowing Fashion
Being well acquainted with the fashion industry you want to work in is significant. Having connections , knowing the trends and liking your niche audience are parameters required to accelerate your growth in the fashion business.
Marketing Skills
To succeed in the fashion business, one must know how to sell their product. Inculcating effective marketing strategies which aim at boosting your Brand’s fame is very crucial to widen your audience base.
Negotiation Skills
In today’s Vogue fashion world , knowing how to negotiate with retailers and manufacturers is a must. Having good convincing and communication skills is an essential to succeed in business and cut down the cost to be more efficient.
Ambition and Drive
Being a fashion enthusiast is a must, when opening a fashion business. Willingness to know how more about that specific field and being passionate about fashion and business both is what makes an entrepreneur successful
Tips To Jumpstart A Career In Fashion
Choose A Strategy
Planning out the future course of actions is necessary to avoid chaos. Choosing a niche audience you want to target and specialising in a specific range of clothing is better than trying to cater all
Financial Planning
Making a budget of the expenditure incurred. Working your way in the fashion business can be hard on your pocket. To cut the cost off, it’s important to plan your expenses ahead
Understanding The Fashion World
Knowing the strategy of your competitors and customising yours based on it . It will assist in making your business label unique and not monotonous. Knowing what your audience wants and when they want is also necessary to acknowledge
Networking
Since you’re a beginner at this game , it’s important to build connections with your competitors to know the math behind this business sector
