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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For questions email me dgvstyles@gmail.com

Click the link below to get some tips from me.

https://youtube.com/channel/UCLqPY7usmRzdvCmBB6HjpRA

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.

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

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

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@Dgvstyles @IBCITYFASHIONCOLLEGE

@dressforlessnigeria

Adding Value To My Business. …..

Every business owner wants to expand and increase. Of course, that’s the main target of being in business or a career.

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But one bitter truth is, you won’t grow large if that is all all you care about. for that great and lasting success, do not only focus on expansion and enlargement,  focus on assimilating all that you have first. In that way, your focus can be on the right areas.
Campaigns, Advertisements, Promos etc, may bring people to you; But they will not come back unless you Deliver.
     To maintain that consistent growth, you must offer them something they cannot get anywhere else. No matter what it is or how small, look for that little plus and garnish your business with it.
    

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If you are professing positivity, if your clients are excited about your services, and they just want to tell everybody about you without embarrassment, then having more people or more clients around you will be the least of your problems. People flock to that kind of service or business.

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Seek to be outstanding even if its in a small way, the effect will reach farther than you think.

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Take few minutes out today to sit and plan. Ways to improve, things to add and cut out.
Relating this to the fashion world where I major, it’s important you move with time and trend. Don’t offer your clients what is out of vogue. And don’t follow trends blindly, remember not everyone can afford changing their wardrobe with every new trend wave. In the midst of what is trending, let your designs, if not all, some, remain classic. Remember Fashion changes, style is iconic  but Style is always in fashion. The strength of your creativity is in how long it can stand in the fashion scene.

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Dgv …….

DGV FASHION ACADEMY is the leading fashion school in Oyo State,
we offer both theories and practical classes. Ensuring our students are not only good in sewing and designs only, but raising them to be Entrepreneurs the world will recognise.
We’re inside D’Rovans hotel premises(Now WALAN HOTEL)
RING ROAD, IBADAN.
OYO STATE. Nigeria
Find us on Facebook – Dgvstyles
ff on twitter/Instagram @Dgvstyles
Like our Facebook pages —DGV Fashion Academy and DGV Styles

08081067070.

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