4 TIPS TO GROW YOUR FASHION BUSINESS

When you start a business, the main goal is to grow it to some level you have dreamt of or according to your business plan. Now, growing this business is easier to imagine than achieved especially as a small business owner.

Different situations and circumstances will give you hiccups on the path to growing the business. Today i will be sharing with you 4 tips that will help if you use them well.

I have used this tip for years in my businesses and I can say, they are indeed magically helpful if you are truthful to yourself in analysing them alongside your business goals and plans.

We will be using the same word GROW to break down the steps .

G – GOAL

R – REALITY

O – OPTIONS

W – WILL

Let’s break this down.

GOAL- ask yourself this question- What Do You Want To Do?

It sounds simple, but have you realised that when you ask people what they want, a high percentage of them reply with what they do not want. The natural mind is tuned somehow.

We know what you don’t want. You don’t want to fail, you don’t want the business to be slow, you don’t want customers who don’t pay but the main question is – What do you want specifically?

You want the business to grow? How big? What are the numbers you want to be recording? It is so easy to dream it, put it down in facts and figures. Don’t carry imaginary dreams in your head. Analysing them in details gives you clarity.

2. REALITY- This point is so KEY in the present day economy. What you want vs reality. What is happening now vs what you want. You will need to find a balance point with this.

Apart from economic factors, other surrounding factors apply.

What is happening in your business environment? Study and analyse to make your business growth easier.

I have had reasons to drop prices when I needed more money to break even in My business.

– dgvstyles

You need money but the economy is tight and sales are slow. To move sales up, you might want to drop some prices to attract more customers at the end of the day you will make sales and have some break even points.

Another part of reality is to sell what they need and want to buy not just what you want to sell.

3. OPTIONS – ask yourself- What can I do? What are the available options? There is no hard fast rule for success. Different routes lead to your destination.

Have options. Plan A ,B ,C and D. If this blocks, I will take another route and keep moving.

Lack of options is what causes stagnation when you experience the first roadblock in business. And really there are lots of roadblocks on the way.

4. WILL. – What will you do? What can you do?

If I will be fair I sharing a secret with you, this question has helped me a lot in my career growth. I ask myself before a problem happens- “What if this and this happens, what will I do?.”

In all sincerity, it has helped me prepare for some bad situations, of course the unexpected will always pop its head but you always having an idea of what to do , will help you cushion a lot of things.

If you can take few minutes today, analyse these 4 points and you will see how you can plan your business differently.

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Click the link below to get some tips from me.

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Aderonke Olubanjo is the Principal Instructor of the leading fashion college in Oyo State. The college has trained thousands of students in the fashion and Entrepreneurship Development sectors over 2 decades.

How I got my business name?

This is one area I enjoy discussing with startup business owners. It interests me and catches my fancy almost anytime. Maybe because I’ve had to deal with so many business names during my Entrepreneurship Development trainings for business owners

There are names and there are names. Let me say.

I’ve heard names that made me check ten times if my eyes were still working well lol 😆.

Have you heard a business name that didn’t sound like what you thought it should? Or let me say you heard the name and had another business in mind? It’s like naming a child with another culture’s name. Or like in my yoruba culture in Nigeria. Only twins can be called “Taye & Kehinde”, now imagine you meeting someone who says his or her name Is Taye. And the person isn’t a twin?

Now you get it. I suppose.

Watch this short video in the link below to hear my tips on choosing business names.

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Ibcityfashioncollege

And

Dgvstyles

How to Say No To Free Jobs as a Business owner

You will encounter people who ask fro free jobs in the name of publicity and promotions, no doubt. But, the question is – is it okay to keep accepting and giving in to it?

In my early years of starting my fashion business, I met a lot, I mean a whole lot of these people and I will share my personal take on this with you. Take the part that works for you and leave out the ones you don’t want .

There are influencers and celebrities, they do a lot in helping your business grow. As a new business owner, enter this kind of engagement with caution. Except you have a lot of financial reserve and can afford running the business for a while without expecting detailed profit.

Free Jobs mean zero profit, don’t forget. Free Jobs can help you but not at the detriment of the main goal of the business.

Don’t use too many of them in the name of getting famous. You are not the only one they are asking for the same privileges.

The part that baffles me is, the same people wear and flaunt ,they even advertise for foreign brand names all in the name of “I Belong and I wear luxury” – these brands don’t pay them but they’re happy to do free advert why?

These brands took time to grow their products, their brands and they became a name everyone wants to reckon with.

Have you done the same for your business for just 12 months?

What new thing have you added to your business in the past 6 months?

What improvements are you looking at in the next 3 months?

If you don’t have a good product everyone wants to have, the fame will only make your name ring in their ears, give you likes and followers but not paying customers.

In my business early years, I worked with a lot of celebrities and I realised if care is not taken you may keep attracting the wrong audience.

The willing ones assume your brand is for rich people alone. Or they feel they just can’t afford you.

Some assume you must be too busy for ordinary people like them.

On and on.

Learn to say no, if you want your business to grow.

The video below has some tips for you.

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Choosing The Right Business Name

Let me start by asking how is your business going. For those planning to start, what are the steps you have taken?

How far have you gone with your business plan? Your growth plans? And startup plans? Note I have an economy coming up that will help you get this done in simple ways, as simple as ABC. I’ve penned down how I started and I am sharing it all with you in the books. Watch out.

Today, we’re talking about choosing a name for the business. For existing business owners, you may want to take a second look at your business name.

Does it need adjustment? Is it just okay the way it is for now? Don’t put yourself under unnecessary pressure if you are not yet sure. Take your time.

It’s a common thing to see business owners combine their names into acronyms to make a business name, or put the names in the family together to form another name. This is a good idea as long as it sounds good and not too long, difficult to spell and pronounce.

The name you will choose for your business is the name you want to be called. Don’t rush to select.

Consider how far you want the business to go. What is the vision? The end goal.

Your business name is unique, and your clients must be happy to relate with it.

If you choose a name that doesn’t relate to your business, people may get a wrong interpretation of what you represent.

Search for keywords in your industry. And work around it. I’ve seen people use beauty lingo in the fashion industry. It may sound okay, but the first impression customers get may mislead.

Let’s take an example

RONNIES LOOKS

RONNIES

These 2 names belong to a fashion house. To the best of my knowledge, the first name sounds like a makeup business or a hair/ beauty business.

The second name is simple and general, could fit anything. This is an idea of how your name can mislead your audience.

Don’t choose names because you heard someone using it. Sometimes in the spirit of competition, I’ve seen business owners coin name close to what another person is using. It could be out of admiration. If you find yourself on this seat, try to be unique. It’s part of what you want to do.

Copying makes you lazy intellectually, if you don’t task your creativity, it won’t task itself. Carve out a niche for yourself with your business name.

For global brands, products or services- consider your foreign clients too. Simplicity does it.

Your business name will keep being on people’s lips. Don’t take it with fingertips.

Another issue is religion – for those who get over religious with business names. Its okay, it is a personal choice. But ask yourself, is your service, product or brand for some kind of religion only?

If not, you are already creating a demarcation which will affect the business growth.

Take a short time and review your business name.

Search for industry keywords.

Search for keywords in other languages, some languages have beautiful interpretations that are so easy to pronounce, spell and they sure sound exquisite.

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Ibadancity Fashion College is behind IBEDC office capital building ring road ibadan. Oyo state, Nigeria.

+234 8081067070

WhatsApp +234 9024267637

HOW TO START A SMALL FASHION BUSINESS

Are you thinking of a new side business to start this year?

Is fashion or sewing on your list?

If yes, this post has some information and guides for you.

If I ask why you’re choosing sewing or fashion, your answer could be –

– You’re looking for means of generating side income. Either from home or you eventually plan making it bigger. This is a good enough reason to consider starting a side business.  We are in the era of multiple streams of income.

Why sewing? Maybe you have deep interests in fashion. Or you just don’t know why, you just like it. Sewing is a trending business – Always trending.

To start a sewing business, you do not need too much capital. You can start with a small budget and work your way up to the top.

Start with the essential tools and equipment. Don’t Invest in every fancy equipment, buy the ones you need urgently. Some equipment will only result in tying down your capital.

Get a good sewing machine. How do you know one? We should have an old post that talks about it on this blog. There will be a revised edition soon.

Set it up and start working from your small space.

Before this, triple check your finishing skills. Customers may come easily, little issues can turn them off especially in this sewing and fashion business. 

Make your jobs speak for you.

Start by designing clothes that will attract more customers to you for yourself. You are first contact person, they will look up to you.

Keep practicing all the styles you can think of now. Use yourself as the experiment, it’s safer than using customer’s clothes for experiment.

Get the essential sewing materials. While learning or training, you would have noticed some supplies you’re always using eg bias, threads, multiple needle sizes, different Scissors, trimmings, fusibles- stay (different ttpes), zippers etc

Starting your business won’t be difficult if you start by working with your budget.

Make a list and sort in order of priority.

Start with that one client and give it all it takes .

DROPPED SALES. SHOULD YOU DO SALES?

It’s the season of uncertainty and many business owners are feeling the pinch. Of course you have been thinking of ways out this season. You have considered dropping prices, doing sales or discounts, a million thoughts are crossing your mind daily on how to get a way forward.

It may be about Covid 19 or before and after it, you will come to that crossroad at a point in your business. But before deciding, sit back and consider these few points.

Lowering the prices and how it affects your business

Before you fixed a price, you have done the calculations of your time, materials used and profit before arriving at a price. If you lower the price, will you be eating into your profit or not? If you are not making enough profit, you are eating the business up gradually.

What if customers get worried about the quality of what you offer?

One of the dangers of too much or too often discount or sales is that your customers may think twice about your original prices and the quality of your products or services. If you personally see a very beautiful product and the quality looks really good but thebproce appears low, do you know you will think twice about the quality?.

You don’t want your customers thinking twice before purchasing from you or thinking your products are made from low quality materials.

The impression they get first,stays with them longer

Don’t leave first customers with the thought of ever doubting the quality of what you are selling or doing. They may never come back.

Your workspace should look attractive enough to worth the price you are charging. When the office environment doesn’t match the price, it affects your business. People generally attach value to what they can see.

Not having enough sales doesn’t always have to do with economy, if it does, then nobody is making money. But if you look around, in the midst of economic distress many businesses are making their profits still. This is one of the reasons you can not take your business front desk for granted.

Front desk is relative, could be your receptionists, secretary, showroom, reception area, the person who picks the phone calls or replies messages on emails and social media handles. They must not be the reason your sales are dropping.

Make your business attractive enough to keep customers coming back. Then you won’t need to be doing unnecessary price drops in the name of attracting more customers.

Your business development strategy is unique to your business. Research, consult, do your part and watch stress reduce while sakes grow.

Follow me on Instagram @dgvstyles @ibcityfashioncollege

For business development/consultancy services. Whatssap +2349024267637

IBADANCITY FASHION COLLEGE is a leading Fashion and Entrepreneurship Development COLLEGE in Oyo State Nigeria. A Central Bank of Nigeria CBN certified and accredited Enterprise Development Institute assisting business owners access funding from CBN /NIRSAL.

For more information and enquiries call +2348081067070

DEAR SMB – (SMALL BUSINESS OWNERS) How Are You Planning For The New Decade

Everyone is up on their list for the new year, how to make more sales, develop their businesses better, have overall growth.

But, we all know it doesn’t happen easily as envisaged, especially when the surrounding circumstances are not in your power to control.

As a small business owner, you get yo face lots of challenges. You need to constantly keep your eyes out for improvements, if you do not want to be shaken out of the market.

If 100 people start a small business today, 80 makes it to the first year, the 20 will drop out on the way due to different factors. 50 or less will make first 5 years, and the journey goes on….
Invest quality and significant time now to ensure your business will not just stand out from the pack but also stand the test of time.

Find out more ways to do whatever you are doing presently. Don’t do it the same way all the time. There are stages, especially if you are at the peak of the business or market, to avoid a drop, re-PEAK. Find out more exciting things you can introduce to make it entice more people.

Be sure you are providing your customers with products or services that will keep them coming and bringing in referrals.

wishing you more wins and more success records in the new decade.

IBADANCITY FASHION COLLEGE is the Leading FASHION COLLEGE in Oyo State. We offer entrepreneurship and all fashion courses. We are a National Certified and Accredited EDI by the Central Bank of Nigeria CBN. We are affiliated to major foreign schools assisting you in pursuing your dreams. Register today and enjoy many benefits we have to offer you.

Address – behind ibedc office Ring road ibadan Follow the road beside FOODCO RING ROAD IBADAN.

Tel – 08081067070 (+234)

Social media handles- IBADANCITY FASHION COLLEGE

@ibcityfashioncollege

As a Young Entrepreneur, How do I break even FINANCIALLY?….

First of all. You are not alone on this chair, or table so to say. It is a concern most of us face, even the “so called” ‘established ‘ business owners- from your own point of view. You assess them as established, but they believe they are equally on a road to somewhere.

When people for example call me a big girl in the industry. I sometimes look around to check if I’m the same person they are referring to 😊. Because I see myself as a goal getter same way they themselves. Our goals may be different yes, because some of us have played our friendly matches, our qualifying matches and now in the real game.

We are all on this pitch. Everyone wants more money. You do, I do too

But, your concern is how did they get there, because it seems you are just struggling through some thick bushes right now. Believe, it’s a matter of time. You will score more goals on this field.

Finance is why you are in business. Or part of. So you can’t give up yet. Except you feel this lane is not your own.

Having funding issues is normal, many startups face this. And if your business background is not as solid as some, you might find it more tasking. Like, if this is your first business. Getting everything going won’t be milky smooth.

Do your background checks. – know the pits and rocks in this field of yours. Its easier to play when you are familiar with the field. Don’t believe what some motivational speakers say, they make it sound like it’s just a finger snap solution. It is a PROCESS…….

Keep doing your ‘DO’ – in my words. Network and meet people that will help. Some people will only tie you to their aprons, avoid or break from them.

Keep your ears and eyes open and be ready to take risks. Life itself is one big risk. Seek available funding options around you, they keep you in check at times, because you owe your responsibility to ensuring you dont fail on it.

Start small. Don’t price your businesses the way A or B is pricing theirs. What works for you is not what works for them. They may be selling according to their circle ,connections, etc. Is your price fit for your market?

Basically, discover what works for you. It will make your growth easier.

Maximize the power of social media. It is helpful. Share someone’s content, repost, like, follow relevant people and hashtags, build your virtual circle.

There is no end to growing, remember. We are all learners in one way or another. So keep doing it.

Feel free to send me questions on WhatsApp +2349024267637

Keep tab and attend any speaking seminars I have too, when you have the chance. One idea is all you need sometimes.

Aderonke Olubanjo- Dgvstyles

Follow me on Instagram-

@Dgvstyles @IBCITYFASHIONCOLLEGE

@dressforlessnigeria

Ibadancity Fashion College – A Central Bank approved EDI Centre in ibadan.

It’s a new advantage for all past, present, and future students or interested participants.

Reach us for more details.

Your business should take a new turn, tap into this wisely.

IBADANCITY FASHION COLLEGE

RING ROAD IBADAN

BEHIND IBEDC OFFICE RING ROAD

FOLLOW THE ROAD BESIDE FOODCO RING ROAD.

08081067070 (+234)

INSTAGRAM @IBCITYFASHIONCOLLEGE

http://www.dgvstyles.com

GETTING MY FIRST CLIENTS – Family & Friends

We all know building business is not as easy as it sounds or projected. By the time you dive in, you see a lot of hidden realities you haven’t faced before starting. And this is common to all businesses. So, you’re not alone.

The fear of a lot of new business start-ups is getting the first clients. How do I get my product or service known, how do I get more people on board?, how do I get my first major break ?, and so on….

And let’s face the truth here, it’s really not so easy to push one’s business, NOT because you’re an introvert,extroverts have the same issues too. It’s just a normal fear of “will I be accepted?

Today, I will be sharing few tips on how-to get the first clients, they are the foundations you need and later build on

1● Tell family and friends in a way that reflects your seriousness and professionalism. I’ve often heard people saying family and friends don’t make good customers. In other words, they can be the best constant client and your best referral people. It is how you tell them that determines how they see you, and believe you. You say it jokingly, the term it as a joke or just a side passion you want to pursue.

Imagine you just saying it casually and expecting them to patronize you? Did you give them your business card? Did you send them the social media handles of the new business? For them to share too?

A personal message to them would sound very official and make you look serious. Let them know why you’re going into the new business. How much it means to you.

You actually need to ask them to share your message. They may not be able to afford you, but they may have your clients around them. They will refer.

And remember to thank them for the little helps. It will make them do more.

To be continued…….

IBADANCITY FASHION COLLEGE

Your one stop college for fashion training and entrepreneurship

For admission/ enquiries- call 08081067070 (+234)

Instagram @ibcityfashioncollege

Facebook page- IBADANCITY FASHION COLLEGE

Location – BEHIND ibedc office Ring road ibadan. Follow the road beside FOODCO RING ROAD.