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SMOOTH MICROINSURANCE FOR FASHION START-UPS AND ARTISANS.

Wednesday, 16 July 2014

BUILDING A STRONG FOUNDATION OF BUSINESS FOR THOSE IN THE FASHION INDUSTRY AND IN THE VOCATIONAL SECTOR.

Fashion in it's self as a vocation refers to one using his hand or few tools to create an image conscious environment.So,it stands to reason that creative start-ups or designers need to create the right impression when they enter in to such venture.Fashion start-ups often begin life in a very small way.Most often start-ups in the fashion industry start by operating their business either from home,or in a shared space.More often than not everything is done on a shoestring with friends,student studying fashion and design in polytechnics,colleges, or interns in big fashion house producing samples and seeking the services of their fellow friends who are into modelling or the services of mushroom modelling agencies working with their samples in exchange for those very samples rather than hard cash.And if things goes well with them their designs catch the attention of the press whether Electronic/print or with the advent of social media they share it on these social networks like facebook, google plus etc.,generating positive critiques and a celebrity might be convinced to wear said label to boost their style credentials.

Most often fashion start-ups often jump from using their friends and begging favors from celebrities,with the aim of creating a perception about them being a bigger player with the required tools,staff,shows,industry presence of a successful business before they are ready to fund that.  Over the years many designers and creative start-ups at the initial stage of their business talk about growth in terms of studio space,PR budgets,participating in extravagant and unnecessarily fashion shows rather than focusing on building on a very strong foundation of their business, in terms of building a very strong business module,developing a long term development plan etc. Mind you; "image isn't about business because business is about creating healthy cashflow by selling a product or service that people want,delivering growth and profitability".
Designers need to be prudent with their capital,investing in production process,negotiating deals with suppliers and carefully targeting your shrewd customers with focus on sales and marketing.
  Ending with  PART1 of this piece i conclude that" MANY DESIGNERS AND CREATIVE START-UPS WHO WERE ONCE VAUNTED AS THE FUTURE OF THE FASHION INDUSTRY DISAPPEARED AFTER A COUPLE OF SEASONS WITH BANKRUPTCY HANGING OVER THEIR MUCH-HYPED NAMES".

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