Questions about starting a business?
Asked by
Feta (
930
)
November 15th, 2014
This isn’t something I’m betting my life on, it’s just an idea I’ve been toying with.
I’ve been reading about teenagers who have been self-made millionaires and it seems most of them made an app or started their own businesses.
I’ve been thinking for awhile about a type of clothing line I’d like to create. I’m not a designer and I don’t have very much experience in design or sewing, but I’m a bit of a connoisseur for fashion and I always find it difficult to find things that fit my personality in a decent price range.
How does one go about starting a clothing line? Do you just pitch the idea and come up with a few drawings? If so who do you contact for that sort of thing?
And if you don’t have the means to make the clothing yourself, who do you/can you hire a person/factory to do it for you?
Again, I’m just entertaining the idea. I’m not prepared to try anything yet but I’ve never been a follower and I’ve always been amused by the idea of having my own business or magazine.
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3 Answers
Starting a business unfortunately isn’t as easy as just having the idea and finding someone to make it happen. It’s going to take talent, money, and a lot of time. You need to be able to bring at least one of those to the table if you want to be involved. The more you can bring to the business, the better your chances are. What part are you going to get really good at?
If you have the talent and can design the clothes, then someone will make them for you if you also have the money to pay them.
If you have enough money I suppose, you can hire someone with talent for designing clothes, someone to make the clothes, and even someone to get them sold. But honestly, if you’re just paying everyone to do the work, why make clothes?
If you want to start your own business, and not just invest in on, you have to be willing to take on at least part of it. Either put in the time to learn to make clothes, or put in the time and learn what goes in to designing clothes, or put in the time to learn how to run a successful clothing business, preferably a little bit of all of them. Just the idea isn’t enough to build a business in any field, especially one as accessible and competitive as fashion.
So the first step for your business would be to acquire some of the skills you need.
It’s good to dream about the end result, especially if that’s motivational. Write it down, flesh it out, make it specific and exact, then go get the skills and revisit it when you need motivation to continue learning.
Good luck.
In a legal sense it’s not at all difficult to create an LLC, open a bank account and PO box, and so on. But to actually turn a profit takes a lot of work. You need to come up with a good business plan that goes over exactly what your costs will be, how you’re going to market your product, how you’re going to turn a profit.
If you’re really serious, start drafting a business plan. Start wherever, and the more you write down the more you’ll understand what else you’ll need.
Starting your own business needs to have planning and proper guidance. If you are so fond of fashion then you can start you business in it but remember you don’t have enough experience so don’t make hurry do analysis first then plan and act on it.
All d best.
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