Starting a new business isn’t as easy as it looks - even though you have great ideas, to make them work is a hard path to follow. Therefore, to help you reach your goals, we prepared 5 steps you should do before starting a new business, especially in the accessories market, which we are experts on.
1. Get to know your brand market
If you want to start selling something, you need to know who else is selling the same - and how they’re doing this. The first thing you should do is get to know the market. Start searching on the web, looking for famous brands on Instagram, and then looking outside the window, in your own city, what is happening in the same market you want to start . If you want to start a handbag brand, you have to search for the keywords on Google and see what it shows. Look at the advertising and get to know big brands who own the market. Channel, Valentino, Yves Saint Lauren. If you think it helps, start an Excel calendar to take notes about what grabs your attention more. After that, look also at the small brands. What’s new in the market? What are people doing nowadays?
2. PaY attention to your target audience
Paying attention to your target audience is the second most important thing you should do before starting a brand. If you already have in mind what you want to sell, have you thought about who's going to buy it? Because that's your audience. Yet the audience is different, so are the main characters you should pay attention to. If you want to sell something to young girls, you need to pay attention to what they are wearing, what they are listening to and what they are talking about. It doesn't need to correlate specifically to your product, but once it is related to your target audience, it is also important for you to keep your eyes open.
3. Take a look at suppliers
Suppliers will be a big part of your daily routine, once you release a brand. it’s important for you to research where the suppliers you need are, how far from you they live and how easy it will be to get in touch with them. If we're talking about a brand that sells products, not services, the material of them will be more than 50% of the importance of the product, and it1s also something that can increase the value from your product. Be sure that you find a good supplier with good material to offer to you.
4. Ask yourself how can you make it different
Unless you think about creating something no one has seen before, your product already exists on the market. If you want to start a handbag brand, we all know that plenty of handbags exist outside the world. But inside this market, what can you do to make it different? What will make someone become your client? Which characteristic does your brand have that other brands don’t? It can be the design of your product, the material, the versatility, the sustainability - that’s an important part of your brand you’ll need to work on.
5. Get a consultation
Remeber, always learn with who knows the process. Getting a consultation is a time that will never be wasted, people who studied and know the process you will pass through will always have something to teach you. Talking about consultation, there are a lot of different consultations in the market. But if you’re thinking about starting a business related to fashion, you should know how the design and making process work. If you’re interested in having an accessories brand, we recommend for you to take our Online Course and Accessory Design Consultation Pack, which is an one-hour design consultation with Laura Dotolo, either on the phone or through video chat. This is combined in a package with our online course for designing and making accessories in the USA that will show you all the steps from creating your brand to selling your product. Don’t miss our special deal!
These are 5 steps you should do before starting your own accessories brand. If you think that is useful, let us know in the comments below. Also, share it with your friends and the ones who will like to read those tips!