Turn Your Brand into a Money Making Machine - The BUSINESS of FASHION - Start Your Own Online Store | Nino Via | Skillshare

Turn Your Brand into a Money Making Machine - The BUSINESS of FASHION - Start Your Own Online Store

Nino Via, Fashion Design, Instructor & Consultant

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10 Lessons (32m) View My Notes
    • 1. #1 - Intro. Overall view of class content.

      2:39
    • 2. #2 - The Business Plan (6-parts). Market research.

      3:18
    • 3. #3 - Company Overview. Market Analysis. Distribution.

      3:00
    • 4. #4 - Financials. Cash Flow. Executive Summary. Elevator Pitch.

      2:29
    • 5. #5 - Identify Your Customer. Consumer Research. Product Research.

      2:44
    • 6. #6 - Manufacturing. Production Process. Print-on-Demand. Factories.

      3:57
    • 7. #7 - Distribution. Online Presence. Shopify. Your Website.

      2:35
    • 8. #8 - Marketing. Facebook Algorithms. Trade Shows. Bloggers. M.A.G.I.C. show.

      3:37
    • 9. #9 - Vision and Purpose. Core Values. Your Unique Voice and Genius. Style.

      4:21
    • 10. #10 - Quantum Thinking in Fashion Design.

      3:38

About This Class

This Course empowers the student to turn their designs/company into a financially successful Brand. A great fashion Collection/Line is not enough to succeed. Owning your own Company is a big responsibility— you need a strong Business Plan to avoid failure. This Class will inspire the student to go out there and start their own company, successfully!

This Course covers areas on research and development, and the manufacturing process, and how to create your own Online store.  It addresses the importance of Social Media and all the different platforms.

It also includes philosophical topics such as vision and purpose fro your brand/business, and your core values for your company.

In this Course you will:

  • Develop a Business Plan: a 6-part/components Plan.

  • Executive Summary and Budgets

  • Learn Consumer Research and Product Research

  • Manufacturing: Domestic vs Overseas

  • Production Process

  • Print-on-Demand

  • E-commerce — Your own Online Store

  • Distribution and Marketing channels

  • Online Presence and Social Media

  • Shopify and similar platforms

  • Bloggers and Influentials

  • Reason/Purpose for your business

  • Creating a VISION for your Company

  • Core Values

  • Quantum thinking in fashion design

In this Course the student learns how to develop a 6-Part Business Plan that will support the model necessary to establish a successful business.  It discusses the many options available nowadays (thanks to  the internet) to start your own company from scratch without much of financial investment.

A solid Business Plan is essential is succeeding in the fast paced world of fashion.  You must be aware of all the steps and precesses of taking your fashion designs from the runway to the streets.  You must know the manufacturing available to you: should you manufacture domestic or overseas.... Nowadays an online presence is so important for the success of a fashion brand - global visibility is not only available to you but it's a must. 

This Course also address the reason and purpose of why you (the designer) do what you do, what is your motivation and purpose.  Ir also touches on the infinite possibilities available if one is aware of our thoughts and how to direct them to create what we want to create - the sky is the limit!

Transcripts

1. #1 - Intro. Overall view of class content.: How do you keep a fashion brand financially successful? Some professionals would say that the business plan should come before your designs. Hello, everyone. My name is Nina via, and I am your instructor. My other courses and classes were focused on the creative aspect of fashion designing classes like sketching and draping and pattern making, collection development and someone. But in all my years of experience in the industry, I have noticed that in every company there's a creative site and a business side. You know, having a great fashion collection of fashion line is not enough to succeed. Owning your own company is a big responsibility. You need a strong business side or you will fail. I have designed this class to position you to win at the business of fashion. I've broken it into three parts. In Part, one will talk about theories of business, which can be applied to any company that just fashion. And I'll walk you through how to create a strong and solid business plan. In Part two will talk about the practical site off your company like where and how is your lying manufacturer? Should you produce your collection domestically or overseas? we'll talk about having an online presence and online store your own website, and we'll talk about Shopify ing Shopify stores and print on the man and distribution channels and someone. And then in Part three, we'll talk about creating a Bishan for your company and the purpose and a mission statement . It's important to know why you do what you do and finally will talk about quantum physics. Quantum thinking in fashion, designing. Do you quantum think are your thoughts aligned with your vision? Is your thinking creating real solutions on your actions? Moving your brand forward in the global marketplace? Stick with me. It will be a very interesting subject itself. Let's get worked out. See you in class. 2. #2 - The Business Plan (6-parts). Market research.: So, as I said, a great fashion collection of fashion line is not enough to succeed. You need a strong business plan, and we're going to start with creating a business plan. I am broken it down into six parts. Six components. This is an overall view of a business plan. And then, in part two of this course, I'll get into more details. All right, so number one market research. What does that mean? Look at market trends. Look at what is trending right now. Is it activewear? Maybe at one point there was skinny jeans and then he went to baggy pants. What colors are trending right now? Is it bright colors? Pastels? What influences is it? Sixties, the eighties? What styles are trendy right now? What silhouettes and trend change all the time. Trends are always changing, so you have to be constantly researching what is trending right now. The other thing to look for is what is missing in the marketplace. If you see that there's something missing, maybe you could be the one to fill that void that need. For example, let's say that you wish they were more 100% organic, cotton, Hawaiian shirts. Just think maybe you could be the one to fill that need. Look and see what is missing. Filling a need is a sure formula for success. Also read blog's to get ideas, inspiration and social media. Follow Brand's. Follow your favorite designers and brands on Instagram, for example. And if you're looking to raise capital for your company, you shoot. Read blog's written by venture capitalists. And speaking of raising capital, it leads me to the second section off a business plan Number two Racing Capital. You need money. You need capital to run a successful company. You need money, right? So when raising funds for a business, don't forget that everyone consumes fashion. Using people around you can be very helpful. When you're plugging numbers into a business plan, Find someone with an M B A A business degree. Find someone to help you create a Financial Excel spreadsheet, which can be used to present the business plan to investors when asking for funding. This takes time, sometimes several months, so be patient. Okay, next class 3. #3 - Company Overview. Market Analysis. Distribution.: Okay, The next component Number three Company overview. This is where you describe the founders of the company. If you're the only one starting out, well, then maybe it's just you. But if you have partners, the company overview would include all the partners and their experience, their education, past jobs in a company overview. You would also describe your product specifications and manufacturing process again. You manufacturing locally or overseas and how often you will fulfill orders. Are you creating smaller groups and sending product to the stores every month? Kind of like what? Zara on the brain Zara does nowadays, where they deliver merchandise to the stores every few weeks. Or are you manufacturing a new collection, a new line 23 times a year and where and how you plan on distributing and selling your product. Another component. Number four. Market Analysis. This is where you identify and detail the size over your specific market and your competitors and your target customers. Are you designing for a small, elite group of people, or are you designing for a mass market? You would also describe your manufacturing process and operations, determine and identify your manufacturers and suppliers needed and required to produce your life. Your product. A market analysis would also include marketing and distribution. Lay out what channels you will use to sell your product. Wholesale department stores, boutiques direct to consumer. And if you plan on hiring a showroom or distributor Now, I know I gave you a lot of stuff right now, but again, in part two of this course, I will go into details and explain further what I just say. So you get a better idea off what I'm talking about? Item by item. You have time to write down answers and do some research and okay, I will see you next class. 4. #4 - Financials. Cash Flow. Executive Summary. Elevator Pitch.: Okay. Number five financials. Whether you use Excel or QuickBooks, this section includes the income statement, which is your revenues, expenses and profits and losses over a specific period of time. Basically, it's your cash flow chart and the cash needed for the future. Also, it includes a sheet with initial start up costs and finally, number six executive summary. This section covers the elevator pitch. If you don't know what an elevator pitch is, think of an elevator right and you're going from the ground floor to any four. It'll take about a minute. So in one minute, summarize. What is your big idea? What is your big brand all about? What makes it unique? What makes it special? Also, quickly outline your target market, your target revenue goals and time frame. The executive summary should be written, lest, after all the numbers have bean figure out, it could be a couple of paragraphs. So that is a business plan. Spend some time putting together a good, strong, solid business plan. Now here is a an example of a business budget. There are many variations, of course, but this is just a simple version to give you an idea off some of the items that you need to be aware off to include in a business plan and expenses. Before you start working on your business plan. Watch the rest of this course because in the next part of this course, in Part two, we'll discuss identifying your customer and manufacturing and production process and e commerce and much, much more. So I will see you next class, all right. 5. #5 - Identify Your Customer. Consumer Research. Product Research. : okay on to part two of this course, we'll start with identifying your customer. What is your niche or niche? Who is your customer? And you have to be very specific. You need to do two things. Consumer research and product research. Let me explain consumer research. Meaning who? Who is going to wear your merchandise? Your product? Who is your customer? What is their financial status and income and social status? Do they shop at Walmart or do they shop at Rodeo Drive in Beverly Hills, right. Do they go to dinner at McDonalds or some fancy, expensive five star restaurant? Do they care about designer labels? Or they couldn't care less about designer labels. What is their age range? Are you deciding for 18 year old or a 48 year old and makes a difference? What do day like? What do they like? Did you go to church on Sunday, or do they go to a yoga class on Sunday? Get as much information as possible in identifying your customer. Facebook is great for stuff like this, and I will talk more about that later on, and then Product research product. Meaning what? What are you going to design. What are you making? Menswear. Women's with Children's bridal and even if you say, Oh, it's womens wear well, What kind is an active wear evening wear Sportswear is yoga pants or business attack? You have to be specific, even if it's a simple T shirt, depending on who is going to wear it. What colors? What size is what styles, what styles when you be making Are you going to have logos and designs on the T shirt or will be solid colors? And again, be aware of fashion trends in colors, in silhouettes in fabrics, so identify your customer and product research Very, very important. Okay, got that. You got some homework. See your next class. 6. #6 - Manufacturing. Production Process. Print-on-Demand. Factories.: Okay, Next, let's talk about manufacturing. Yes, manufacturing now becomes part off your business of fashion. You have designed the product. Now you have to make it. Are you going to manufacture domestically or overseas? There are advantages and disadvantages in both approaches. If you have a factory that is local, let's say you live in Los Angeles or New York and your factory is downtown. If there is an issue with the sample or the manufacturing process, you can quickly get to the factory and speak to the manager, the supervisor, and say, You know this is wrong. This is not correct. With changed this, it's quickly a dual. But you know, if you if your factory was in se or seizing China, Vietnam, Thailand, Mexico, who knows where it would take more time off, sending emails back and forth and so on. Domestically, if you're doing something when I say domestic, I mean in America, it would cost a little more. Labor is more expensive, so if you were doing something in, say China, for example that it would be cost effective, a T shirt would cost you a fraction of what it would cost to make it in the USA, so they're pros and cons in both approaches. You have to know which way to go before you go into manufacturing before you go to production. Okay, also, are you making fast fashion or better high end products, which leads me into the next section, which is production process production process. So you've designed something, right? When I have to make it, how are you going to manufacturer that could be challenging At times you have to find a factory, right? And not old Factories are the same. It has to be the right factory, meaning it has to have the right sewing machines. For example, if you are making activewear right, if you look carefully at the scenes of your leggings or tops, they're made with a special machine called flat look flat like machines, which means that the factory needs to have flat black machines. They're ex expensive. If you were making leather, the factory needs to be able to handle leather and so on, and even a simple T shirt. There are many ways to make a T shirt. You can you can buy 50 yards 100 yards of fabric, a specific fabric that you like. You can cut it, and so it. Or you can buy a pre made T shirt and design your own ideas onto it or modify it. And so which leads me to the next top print on demand. What is print on demand? Just like the word says you print when there is a demand for it, meaning when someone orders that T shirt from you. Then the T shirt gets made and shipped to the customer. That means no inventory, the advantage of not having any inventory. It means you don't have to have 1000 T shirts in your warehouse, hoping that they will sell right. Being able to start a company with very low finance and overhead. That's terrific. If you want to find out more about that, just Google print on the man. So we've got a lot more to cover. I will see you next class 7. #7 - Distribution. Online Presence. Shopify. Your Website.: Okay, Next, let's talk about distribution. How are you going to get your product? You're lying your collection to the customer. I'm sure you're familiar with e commerce. Your own website, Your own own line store. Having your own website means being able to sell to the whole world. And it means you can design your website exactly the way that you like it with your own style and template and color scheme. Yes, you can hire someone to create a website for you from scratch. But let's face it. Nowadays, there are so many companies that provide free services like, for example, companies like Wicks that my ex you sign up, you created profile. Each is a template, upload and drag and drop images and before you know it while you have a website. Another way is to use an existing platform, a very popular one. These days, depending on when you are watching. This video is Shopify. Shopify, by definition, is an online selling platform. It's a software service that offers you the ability to create a website, and you use their shopping cart technology to sell ship and manage your product. Using their service, you can get access to an easy to use panel where you can add products, process orders and enter store data. Shopify, like similar platforms, means you don't have to design and create a website from scratch. You can think of it like this. You have a shop within a department store like Macy's. So instead of having your own retail store on a street level, you have a shop within a big store. There were several other platforms. Companies like eBay and Etsy and many others. Okay. All right, That's it for now. See you next class. 8. #8 - Marketing. Facebook Algorithms. Trade Shows. Bloggers. M.A.G.I.C. show.: Okay. Next Market E. So you have designed this beautiful collection? Amazing. But at this point, nobody knows you. Nobody knows you even exist. How are you going to market and promote your product? Let's talk about it. Marketing channels, Marketing channels for your products well as well. No, social media is so important these days. The advantage off social media is because everybody is on social media promoting Europe collection. Your product on social media means that you are reaching a large audience. You have potentially millions of people that could see your product. With Facebook, you are able to use their algorithms to target a very, very, very specific audience. I mean, really specific. It's scary. Like, for example, let's say you want to target a young mom age 25 to 45 middle income, who has a degree in sociology, who likes yoga and likes to wear for Sochi and our money suits. You can do that. I mean, really, it's amazing. It's incredible how precise and accurate you can get with using Facebook and Facebook ads, and so you should have a Facebook page. Another channel that you could use to promote your product is trade shows a trade show is a way to show and present your product. Your collection. You're lying to thousands off buyers, buyers who need to buy merchandise for their stores. Trade shows like Magic M. A. G. I see it stands for Menswear Association Guild off California. It started as a menswear show many, many years ago. Now it includes everything it's held in Las Vegas twice a year, in February and August. It's another way is to contact bloggers and send items to bloggers and influentials. If they like your product, they will promote it, giving you free advertising. Here is a few other tips Number one. When you have visitors on your Facebook page, retarget your visitors with Facebook ads to increase conversion rates. Number to run a promotion during holidays to increase sales and capture attention. When buyers are mawr aware. Number three. Show your visitors how to wear your product and incorporate your items into their everyday life. Number four. Have a have every new email subscriber follow you on instagram or other social media and number five launch a block. If you really have one, keep up with it. Keep it current. Keeping up to date. Okay, so all right, Next class part three. See you next class 9. #9 - Vision and Purpose. Core Values. Your Unique Voice and Genius. Style.: next. I want to talk about vision and purpose. Your vision for your company, for your brand. Having a vision and having a purpose is the roots off your company. If you look at your company as a tree, your vision and purpose are the roots of your company. Having ambition gives your company direction. Where do you want to go? What do you want to become? Take time to discover and get clear and write down what your vision is for your company. For your brand. Where will you be five years from now? 10 years from now, or even one year from now. Okay. If a vision is the what you want to do a purpose is the Why you want to do it. Let me say that again. If a vision is the what you want to do a purpose is the why the reason why you want to do it vision and purpose will give you strength and support. When times get tough and you're struggling and you're going through a hard time and you will your vision and purpose will put you back on track. I will remind you why you are doing what you're doing also, what makes you unique, not just your company but you. What makes you unique because who you are as a fashion designer is an extension of who you are. You are distinct and unique, and so should your designs be. People are drawn to you because of your uniqueness and your impact. Focus on creating your own unique style. It's so important. What do you do that nobody else does? What is your unique genius now, along with vision and purpose, I want you to think about your core values, values and principles, which are your fundamental beliefs and things that you stand for and strongly believe in. Like, for example, quality. One core value could be to make great products. You know, you look at brands like Prada and your and you can see quality, and you can take a stand and say, I want to make great products. And maybe you are concerned about the environment and sustainability issues, especially in the textile industry. And so you want to be inspired by brands that use environmentally friendly processes brands like Reformation, for example, Or maybe you're interested in ethical issues and labor issues, so you want to work with companies that have a strong sense of social responsibility. These are all core values. So take some time and discover what do you stand for? Okay, so All right. I have one more final thing to share with. You want to physics quantum thinking in the context of fashion design. Okay, See you next class. 10. #10 - Quantum Thinking in Fashion Design.: the last thing that I want to leave you with is quantum physics Quantum thinking in fashion , designing what is quantum physics and how does it apply to fashion? Designing quantum physics, by definition, confirms that reality is what you make it. Be aware of what you are thinking. Be aware of your thoughts and belief systems. How do you see yourself as a fashion designer? Do you have a positive vision and positive thoughts and believes about being a great fashion designer and a successful fashion brand are your thoughts and actions? Align with your vision. Be aware off your doubts and limitations and how you might be sabotaging yourself. We thoughts like, Oh, I'll never be great. I'm not talented enough. I'm not creative enough. I'm not good enough. Turn these thoughts around in quantum physics. The theory is that there are endless possibilities, endless possibilities. What do you choose to become? It's up to you. You have the power to choose choices, have power and create offense. So make choices that will move your vision and your brand forward fashion. Designing processes a creative process. In order to create something, you must have nothing. First, a painter starts with a blank canvas. Nothing. Nothing on a blank canvas. Allow yourself to be with nothing living the question. What will I designed next? What do I want to do next? Where do I want to be? Next? Live in the world of endless possibilities and choose wisely. Choose the best version of you. Be great. Be excellent and create a fantastic brand. A brand that gives you personal satisfaction that gives you a creative outlet and at the same time fulfills your purpose. If you're gonna achieve that, you have succeeded. I hope you have enjoyed this class and that it has inspired you to take action to take action and drive you to actualize your dreams. Your vision. I want to see you create a thriving business. A top fashion brand recognized for the excellence that you are so as always, if you have any questions for me, please email me. I answered all my emails. This is my website, nino consulting dot com. And as always, I see you on the runway