4 Things You Need to Do BEFORE Starting Your Business
Remember the famous saying if you fail to prepare, you prepare to fail? Although I’m a complete procrastinator at times, I couldn’t agree more. I can remember my Political History class in college and how much I hated the pop quizzes my professor planted throughout the year. Each time I felt so unprepared, which caused me to not only be a nervous wreck but to actually doubt how much I actually knew. This led me down a road of iffy class scores and resentment for the subject altogether, which would last all the way into my 30’s.
Jumping into starting a business without the proper foundation is kind of like a pop quiz. You have no time to prepare, you don’t get a chance to review your notes, and you end up in a panic when the pressure is on. Jumping into the Wild Wild West of the business world is a complete toss-up. Yes, you could totally kill it and ride on a successful wave of espresso and late nights, but you could also totally bomb under the pressure to perform, and make sales because you jumped out too soon with not enough prep work. As a fashion e-commerce entrepreneur for over 10 years, my job is to help prepare you for launching and growing your business by avoiding the mistakes and pitfalls I fell into along my journey. The following 4 things are perfect To-do’s to add to your list as you explore starting your own business in fashion.
Here are 4 Important things you should do BEFORE launching a Fashion E-Commerce Business
1. Purchase A planner, calendar, whiteboard, organizing app, etc.
One thing you will learn once you start building a brand or business is: You will have overflowing ideas for products, services, collaborations, emails, blog posts etc. If you don’t find a place to house all these ideas they will get lost in your brain and you will not be able to recall them in the future. This is why a place to jot down ideas is so important! I use a note app in my iPhone when I’m not at home, but I really enjoy seeing and making lists and checking off items when they are complete. This is why I got a dry erase board that hangs in my front hallway. Figure out what tool is the best way for you to keep track of all your ideas and make it a priority to purchase that thing ASAP. (Take a look at my messy dry erase board below where I write all my important business ideas).
2. Make A decision of how you will invest.
The reality is, most people starting a business have no clue what they are doing, where to start or which step to take first. Most new business owners will need help, and there are two ways to get it- through time or through money.
A decision to invest your time will require taking the time to learn new business-building concepts on your own through research, reading, and YouTube videos. A decision to invest your money will require paying for assistance and learning materials, templates, courses, and how-to’s from experts like myself and others. The choice is yours. But take the time to determine this early on so that you can have an easier road once you launch your fashion e-commerce business. Here are some questions to ask yourself:
Will you invest time or money? Or both?
What needs to be set up in order for you to do this?
Do you need to block out time on the weekends, save up money, take a course, organize your space etc.?
Answering these questions will put you one step ahead and help you to be more organized once you get the business ball rolling.
3. Follow 5 fashion entrepreneurs’ social media.
This will give you a good understanding of how the business works, things to look forward to & watch out for. I’ve learned so much just from following a group of amazing entrepreneurs on Instagram. Search hashtags like #fashionecommerce #fashionmarketing and #fashionentrepreneur to find experts in the online fashion space and don’t forget to also follow me on Instagram here.
4. Complete the free The Fashion to Funds guide & figure out the niche audience you want to serve.
The first step to preparing for your fashion E-commerce business is finding out what you want to sell and then niching down to figure out who is the exact audience you want to sell to. In my business Pretty Perfect Style, I’ve niched down to gemstone statement bracelets in the crowded handmade jewelry category. This helps my business stand out and serve a specific audience versus a crowded space in the online fashion world. Click HERE to take The Fashion to Funds guide to find out which niche product you should sell in fashion e-commerce.
Quote from Instagram- What Shan Wrote
Of course, you could wing it, and start your business and without laying the proper foundation and preparation, but why make it harder on yourself? Trust me, any prep work you can do to make your new business launch smoother is going to make such a huge difference in your progress and sanity! If you liked this post, feel free to share it with any other future fashionista founders, and let me know you loved this post over on my Instagram!
