Key Fears of Starting a Fashion Line: Shifting Your Mindset
Many fashion entrepreneurs hesitate launching because they fear making a mistake and failing. In this blog, I’ll give you some helpful mindset strategies to overcome your apprehension and prevent fear from stopping you.
Deciding to launch the fashion line you’ve always dreamed about is an exciting and frightening choice. Some entrepreneurs get stopped by the fear and never launch. They return to the drudgery of their 9 to 5 job, and can descend into the “woulda”, “coulda”, “shoulda” regret mode. Some other entrepreneurs overcome the paralyzing fear, launch their line, and achieve or exceed their dreams of success. What makes the difference between never leaving the starting gate and crossing the finish line of your dreams? Your mindset. Fear can motivate you or it can conquer your dreams. Here are some good positive mindset strategies that can help you advance from fashion beginner to designing winner.
Pinpoint Your Fears:
Fear of the unknown can be the most powerful stopper there is. To any potential fashion entrepreneur there should be healthy fear and apprehension. Fear is your brain’s way of saying there’s something to overcome and there is something you don’t know enough about. What are these things? Instead of letting them remain unknown and haunt your decision like a mysterious demon in the closet, if you pinpoint each issue you are concerned about you can address them, find a solution, and move on with your new business.
Are you afraid of the shame you will suffer if you fail? Are you frightened about raising enough money or losing it all? Do you hesitate because you think your market may be saturated and your line won’t be relevant? Does the thought of starting and operating a business with employees terrify you? There are many more things that frighten and stop potential fashion entrepreneurs. The best way to control and conquer these fears is to pinpoint each one. Make a list of things you are worried about and create a corresponding goals list of the things you need to accomplish.
Focus individually on each fear on your fears list and write down several ways to overcome them. A business loss or failure does not reflect poorly on your character as a person. Decide in advance how you would react and move on if the launch does not happen to succeed. If you are afraid that your market might be saturated, do extensive market research and identify the specific niche that you can fill where the competition is small or nonexistent. If you are terrified about operating a business consider getting a business partner or consultant who is an experienced manager.
When you can identify what it is you are afraid of, you can address the fear and overcome it.
Shift Your Mindset:
To evolve from someone who may work for a company to an entrepreneur who is self-reliant and your own boss, you will need to change your mindset and get comfortable with your new role and relationship to work, money, and your personal life. The best way to do this is to take baby-steps. I don’t recommend immediately quitting your reliable 9 to 5 job. Instead, use the time when you have the security of a paycheck to do all the preliminary groundwork you need to do. This includes market research, budgeting, business plan development, business entity preparation, incorporation and opening corporate bank accounts, contacting and approaching investors, and designing the fashion line that will fulfill your niche.
When you have laid all the preliminary groundwork for your fashion line and you are ready to launch, then it may be time to leave the 9 to 5 behind. Your will have evolved from an employee’s mindset to an owner’s perspective.
Excel At Market Research:
Knowledge is power, and there is nothing more powerful than entering a market niche where you understand the competition better than they know themselves. Market research can empower you to be confident that you are making prudent decisions about your fashion line, your pricing, your marketing, and your distribution. Your competition can teach you many necessary things. What they are doing may be a good example for you and give you sound insights or how the other companies do business may show you what not to do and expose weaknesses you can exploit.
Stay Healthy:
I cannot emphasize enough the importance of paying attention to your health and family life when you are launching your business. When health issues or family problems occur because you are too occupied with your business, you can be confronted with a myriad of outside issues that can negatively impact you personally and in your business. It may sound simple; however, it is important that you eat healthy, workout regularly, take time to meditate and think, and spend quality time with your loved ones.
If you can stay physically and mentally healthy and maintain your good relationships outside your business, you will be better able to focus on the issues that arise within your business and face them with a clear unobstructed mindset.
Join A Community:
Another positive way to help get yourself into the entrepreneur mindset is to join a community of other business owners. Even if they are not in the fashion industry, they can share techniques and ideas that help them conquer fear, operate a business, deal with employees and vendors, invest in inventory, raise money, and countless other things.
Their experience can help build your knowledge base, give you the mental support that comes from knowing other people who are following their dreams, and help get your mind oriented to running your own business. Being an entrepreneur can be lonely. If you join a business community, a mastermind group, or an entrepreneurs support group, you can find others with similar concerns and lifestyles who can advise you and help you cope with the fears and issues that will confront you.
No one should be fearless. It is smart to have fear. If you can pinpoint and itemize your fears and weaknesses, you can address them, overcome them, and put them behind you. I have given you several effective strategies for overcoming the fear that may be stopping you and channeling it in a positive way to help launch and build your business. The key to shifting your mindset is knowledge, support, and good health physically and personally.
Don’t just dream. Do. Overcome the fears that stop you, and you will be on your way to living your dreams and creating the fashion line and the business that will bring you the success you have always wanted.
By helping designers create and launch several brands at V.Mora, we know that the structure and organization of your business can have as much impact on your business as the success of your brand and fashion line. An efficient business organization can help you maximize revenues which will result in more options for your brand in the future. For help streamlining your fashion brand please contact: vmorainquiry@vmora.com
Stuck on product Production? At V.Mora we can help you through the entire production process from designing, to sourcing and so on through our Production Development services. If you are in need of the following Development and Production services:
Sourcing
Technical sketches
Pattern Making
Prototype making
Sample Making
Fittings
Digitizing and Grading
Marker Making
Manufacturing
Please contact us at: vmorainquiry@vmora.com
