Elizabeth Stiles’ Post

Being a creative and working in a creative space, To be specific textile/ fashion industry. I have had an opportunity to interact with many entrepreneurs. And 70% have pricing challenges. Mostly if they do not overcharge, they will undercharge. Pricing your product has a large effect on your business. And normally Pricing your products starts off with math. You need to know how much it costs to make a product. This includes;    - Business costs.    - Marketing costs. - Production costs. - Shipping and handling costs. Use the pricing strategies below they will help you make pricing decisions.    1. Cost Plus pricing Calculate the cost of your product add markup. 2. Penetration Pricing Use lower price to enter the market and later increase the price 3. Competitive Pricing Check out what your competitors are charging. Then charge slightly lower or higher. 4. Value based Pricing Charge according to how the customer perceives your product to be worth.   5. Loss based Pricing Make a loss intentionally on some items while making a profit on the other items. Which pricing strategy are you using???

Problems <=> Answers Every industry needs problem-solvers.   Find the answers, and 𝗲𝗮𝗿𝗻 𝗮𝘀 𝗯𝗶𝗴 𝗮𝘀 𝘁𝗵𝗲 𝗰𝗵𝗮𝗹𝗹𝗲𝗻𝗴𝗲𝘀 𝘆𝗼𝘂 𝘁𝗮𝗰𝗸𝗹𝗲! In the clothing industry, anyone can start a business if they have the money. But only those who can sustain it will succeed. To thrive, you must be ready to answer these questions: 1. Will the imported dresses sell? 2. How many days will it take? Find or ask them to move ahead!

CLASS bookstore is probably the most talked about bookseller in the U.S. in 2024. They know how to build a hype machine and get people talking about them. Publishers pressure their sales reps to get books in there. What is different about them? And the big question—how do they utilize fashion marketing to make books dope? Listen to the full episode here: https://lnkd.in/gDwMJpz4

What do you get when you mix passion, integrity, and teamwork together in the fashion industry? You get The Fashion Hub’s targeted approach to representation. It’s our mission to make your entry into the US fashion scene as seamless as possible. We give you the confidence and financial clarity you need to succeed without the endless search for additional support. Our services were crafted to equip you with the knowledge and tools you need to build the business of your dreams. When you join our team, you’re not getting the same roadmap as our other clients. We offer you a unique blueprint for your business to thrive in the fashion industry. With coaching, accounting, and representation, you’ll never have to enlist any other firm to reach your goals. It’s all here. Let us know about your business goals by messaging us. We’re so excited to meet you. #fashioninfluence #dreambusiness #fashionambitions #fashioncollaboration #fashionknowledge #financialclarity #fashionstrategy #fashionvision #fashionempowerment #fashioninsight

Starting a garment business can be an exciting and rewarding venture 🎉👗. Here are some key steps to help you get started: 1️⃣ **Conduct Market Research**: Identify your target audience and understand current fashion trends. 2️⃣ **Develop a Business Plan**: Outline your brand identity, production processes, and financial projections. 3️⃣ **Source Quality Materials**: Focus on finding high-quality fabrics and building relationships with reliable suppliers. 4️⃣ **Invest in Marketing**: Promote your brand through effective online and offline marketing strategies 📱🛍️. 5️⃣ **Prioritize Customer Satisfaction**: Attention to detail and a commitment to excellent service are essential for success. By following these steps, you can establish a strong presence in the competitive garment industry 🌟.

Dear Fashionpreneur, What documents do you keep in your business? Your business is as valuable as the documents that you keep. Whether you're just starting out or you're already in business; there are very important documents you must have handy. "A business uses documents and reports to share information, data and numbers to improve operations, management and sales, among other reasons." (https://lnkd.in/gG59VYwt) From our experience in the fashion business, we have developed very important documents adaptable to small fashion businesses that ensures you keep track of almost all happenings in your business such as: 1. Staff Onboarding Forms 2. Staff/Stylists Appraisal Forms 3. Inventory Forms 4. Production Forms 5. Product Quality Assurance Forms 6. Product Pricing Calculators 7. Trainees Appraisal Forms & lot more other forms that will provide accountability and ensure you keep track of your business. Click this link to engage us: https://lnkd.in/dK-RgNt6 WhatsApp 0906 000 1705

When I worked for faster fashion establishments I often found myself running around behind clients putting out wildfires. In that period, the term fire fighting, was a common place analogy. It became clear, that a lot of our clients and their teams, never really understood the product and manufacturing process, or the questions to ask. This cost everyone a lot of time, wasted resources and all-out stress. So the lessons I took with me, apart from never subjecting myself to that again, you can use to make sure you don’t let this happen in your own brand business: ▶️ Understand running a brand is more about the logistics of developing product than creating beautiful designs ▶️ Arm yourself with tools so you can see how it comes together. Example: A robust Bill of Materials with usage and cost analysis is one of my go-tos ▶️ Listen and learn. Don’t jump ahead, understand each stage thoroughly.  Some of it will be dull but you need to know why its important. ▶️ Own it!  Obvious but *REALLY* do it. Sure you need to bring specialists into your business, but always be present in that process. End of the day, knowledge is king not a fireman.

I can’t wait! 💃💃💃 In just a few days, we kick off Fashion Business Structure Workshop 6.0. I’m so excited to share everything I’ve learned with other fashionpreneurs ready to take their businesses to the next level. I’ve seen firsthand the power of getting the right systems in place, and the transformations past attendees have experienced are nothing short of inspiring. Imagine having a clear plan to grow your business, setting prices confidently, hiring the right team, and making sense of all your records. That’s exactly what we’ll cover, practical strategies you can apply right away. What’s in store:   🌟 Building structure so your business can grow (and so you can breathe easier!)   🌟 Mastering pricing that supports both your business and your customers   🌟 Selling smarter, online and offline   🌟 Streamlining record-keeping to position you for future growth  Dates: November 9th to November 24th, 2024, spread over three weekends.   Investment: N35,000 (you will get way more than just knowledge; check out the bonuses!)  Bonuses Include: - Over 20 plug-and-play templates   - A pricing calculator you’ll use again and again   - A free record-keeping template   - Plus, 30 days of post-workshop coaching to keep you on track! This is about growing and thriving together, supporting each other as we make big moves. Let’s build businesses we’re proud of, with systems that work for us, not the other way around. To Register:  Make payment to:   FCMB  Account Name: Mazino Fashions   Account Number: 5121028011  Then send proof of payment to 08034192181. Let’s make November our month for growth! ❤️ #fashionbusiness #scaleup #fashionpreneurs #mazinofashions #letsthrive

📚 If you're a holistic business owner looking for business books that are actually applicable to the holistic mindset, the HCC has read a recommendations. 📚 𝗣𝗼𝘄𝗲𝗿𝘀𝗵𝗶𝗳𝘁, written by Daymond John, the brains behind fashion brand FUBU and a shark on the iconic "Shark Tank." This book is smart and savvy, filled with stories about lessons learned and how to negotiate better outcomes for everyone on all sides of the table. 📚 Buy a copy of 𝗣𝗼𝘄𝗲𝗿𝘀𝗵𝗶𝗳𝘁 at: https://amzn.to/3KtdW1k 📚 𝘛𝘩𝘦 𝘏𝘊𝘊 𝘪𝘴 𝘢 𝘱𝘢𝘳𝘵𝘪𝘤𝘪𝘱𝘢𝘯𝘵 𝘪𝘯 𝘵𝘩𝘦 𝘈𝘮𝘢𝘻𝘰𝘯 𝘚𝘦𝘳𝘷𝘪𝘤𝘦𝘴 𝘓𝘓𝘊 𝘈𝘴𝘴𝘰𝘤𝘪𝘢𝘵𝘦𝘴 𝘗𝘳𝘰𝘨𝘳𝘢𝘮. 𝘞𝘦 𝘮𝘢𝘺 𝘳𝘦𝘤𝘦𝘪𝘷𝘦 𝘢 𝘱𝘰𝘳𝘵𝘪𝘰𝘯 𝘰𝘧 𝘴𝘢𝘭𝘦𝘴 𝘧𝘳𝘰𝘮 𝘱𝘳𝘰𝘥𝘶𝘤𝘵𝘴 𝘱𝘶𝘳𝘤𝘩𝘢𝘴𝘦𝘥 𝘸𝘪𝘵𝘩 𝘵𝘩𝘪𝘴 𝘭𝘪𝘯𝘬. * * * * #chamberofcommerce #smallbusinessowner #supportlocal #businessgrowth #holisticliving #wellnesscommunity #sustainablebusiness #mindbodysoul

Financial Literacy is the bane of many small-holder fashion businesses. It is unfortunate that they do not understand financial terms. Often times, they categorize any money received into their business as income, which is not so most of the times. Watch the full webinar: The Business of Fashion - Where the Money Is https://lnkd.in/d4-_5dX2 .................... Subscribe to our Youtube Channel: https://lnkd.in/dX5MQTfB