Tag Archives: Management

Top 5 Tips for Writing a Killer Business Plan | Niche Volumes

Starting a business plan is a detailed process that is both educational and revealing. with existing companies it is a chance to re-evaluate profit margins and focus on the prominent areas of the business while cutting out the departments that are losing money. For business plans for new companies it is an opportunity to really focus on, and understand the industry and evaluate whether your next big idea will be successful before you make a large investment.
Although up to 44% of new businesses survive 4 years or more the success of any new business is good planning, access to capital and good business management.
Here are the 5 best tips for creating a killer business plan that will undoubtedly impress:


1) consider your Audience
Business plans are developed for many different reasons. Is it for presenting to a panel for project approval? will it be to submit for funding? Is it simply to restructure the business for profitability? Each of these avenues will require adjustments to the plan format and style you will need to use throughout the document. If you are attempting to obtain funding then you will have to have very detailed cost and ROI projections that are measurable and realistic. If you are making a presentation to a non-profit or a board of directors it is likely that you will need to include a directive on community impact or involvement and impact (either positive or negative) to the existing business. Remember your audience as you creates your document to ensure you focus on the important topics and leave no questions unanswered.


2) Quality Reference Material Is Key
It is important to integrate a diverse mix of reference material in your plan document. the web is great for the latest news but is not nearly as highly regarded as printed documents. be sure to use a good mix of reputable internet reference along with well-known facts and industry statistics most often found in printed literature. Industry specific publications and industry magazines are an excellent way to get the latest news and trends in a reliable place. Always include references from industry publications as well to raise the standard your business plan and build credibility in your due diligence. Always make sure to cite your research or any quotes you may use. this will also build credibility while ensuring you are not infringing on any protected or copyrighted content you use. To quickly and easily cite your sources there is a web-based tool that you can use to enter in your info and get back the properly formatted entry for the works cited page. it makes the process a breeze: easybib.com.


3) Do your Own Research
Creating a solid business plan is the singular first step in knowing your industry and understanding what it will take to be successful in your chosen field. Part of developing a plan should be to evaluate competitors, define your business strategy and start to understand if your value proposition meets a tangible need in the marketplace. Walking through the initial steps of creating a business plan is an invaluable process that will help to ensure that your business can survive the market trends. Don’t pay someone else to do your research for you or it may end up costing you more than you think.

4) using a Business plan Template
Now that you have various notes and articles, market information and loads of statistics it is time to put it all together in a layout that will highlight the data you have compiled. Finding  business plan examples can be a challenge as every business plan is different (see point #2 above), however you can develop your own based on a compilation of the different topics or areas you want to cover. If you want a business plan template that comes formatted with sample headings and the different categories already setup, try using the plan layout from online websites. this site has a real business plan in Word format for quickly changing out headings and information. In addition the plan comes with a break-even analysis template in Excel as well as a 1 year Pro-Forma template in Excel with the formulas already built for easily updating and projecting costs for your business. this is a big time saver and an easy way to quickly get the business plan document underway without having to start from scratch.


5) Seek Out Experts in the Industry
Finally, after you have organized your information reach out to some industry experts like local college professors, trade show organizers, or even your local Chamber of Commerce for some insight and feedback on your plan. it always helps to get a second opinion on the plan before making the final presentation. having one or more individuals look over the plan will shed light on areas that need to be revised or reinforce that the business plan is ready to present.
Don’t get distracted spending valuable time figuring out the Works Cited, Table of Contents or overall plan layout. use the templates or resources that are readily available to you and spend the time focusing where you should, on the reporting and presentation of your business idea.

Source: Onlinebusinessplans1.net

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Filed under Business, Business Plan, Consumer Psychology, Fashion Marketing, Management, Market Research, Marketing, Marketing Mix, Marketing Strategy, Methodology, Niche Market, Presentation, Qualitative Research, Quantitative Research, Research, Target Market, Trends

Fashion Marketing Techniques

  • Fashion marketing techniques apply many of the same marketing strategies that large and small businesses use. Fashion marketing includes market research, advertising and promotion. Research gathers information about the market for a particular brand or product. Advertising helps generate sales, and promotion increases brand or product awareness. Some fashion marketing techniques include fashion events, print publications, press releases and media relations, digital media and product placement.
  • Events
  • Fashion marketers conduct promotional events. Product launch events invite the media and public or private guests to learn about new product offerings such as jewelry and other accessories. Runway events showcase fashion apparel that is worn by models. Spectators view the models to see how the clothing fits and evaluate the overall look. Other events involve hosting or sponsoring charity events and causes that help build brand awareness.
  • Print Publication
  • Fashion marketers use print publications to promote the brand or product offering. Print publications include the brand’s self-published magazines, trade and consumer magazine advertisement, mailings and newsletters that feature individual products, flyers and posters at store locations, point-of-purchase announcements that are placed at the checkout counter, product inserts that are included with product purchases and billboard ads along highways and city streets.
  • Press Releases
  • Fashion marketers create and distribute press releases. Fashion marketers use press releases to announce the brand’s activities. Releases may introduce a new fashion line or brand, or introduce the brand’s founders. Press releases often keep the public informed about the brand’s activities by announcing new and upcoming product launches, runway events, successes and newsworthy stories about the brand or individual products. Marketers distribute press releases to newspapers and other media outlets, and may use a public relations firm to help reach larger audiences.
  • Digital Media
  • Fashion marketers use digital media for research and promotion. Web technology provides an efficient platform for collecting survey data that reveals information about the brand’s market. For example, some brands that process orders online ask the customer to fill out a satisfaction survey after they complete the purchase. Other Web technology involves social media applications that accomplish outreach and promotional goals. Fashion marketers can keep target markets up-to-date with live status messages, and use profile queries to find new potential customers and distribute e-promos to relevant audiences.
  • Product Placement
  • Fashion marketers, publicists and other promoters use product placement marketing techniques. Product placement techniques involve featuring fashion items and apparel on television programs, movies and celebrities. Product placement displays the product without explicitly advertising it, because this marketing technique displays the product within the context of the primary entertainment. Sometimes, television commercials follow-up on television shows that feature product placement items to increase awareness or credibility.
  • Source: eHow.com By Miguel Cavazos, eHow Contributor

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    How to get the most out of Trade Shows & Fashion Week

    Fashion Weeks are upon us. You’ve paid up to exhibit in London, Paris, New York or Milan. How do you make sure that you get the most out of the exposure to increase your sales and get press?

    Before you go

    1. Research trade shows to find the one that’s right for you. Look at the online exhibitors list from previous seasons. There are plenty of fashion showrooms out to choose from and you are most likely to do well in a show with similar labels to your own. This also gives you a great opportunity to scope out your competitors. Don’t be shy to ask the organisers for concrete figures on which buyers attend, better positioning, etc. You’re investing in your booth, and you want to make sure you at least make your investment back!

    2. Know what your goal is. It helps with preparation if you know what you want to achieve. Are you there to meet existing stockists? Are you trying to develop new relationships? Who are you targeting, buyers or press? Depending on how important each goal is to you, prepare accordingly.

    3. Make sure you have a good team with you. More importantly, have a detailed schedule set up for when everyone is manning the booth.

     

    At the trade show

    1. Smile, make eye contact, engage people! I’m always surprised to see people hiding at the back of their booth hunched over a laptop. While it quickly gets very boring to be there, you’ll miss opportunities if you hide away. To avoid getting bored, have a good rotation going so that you can take plenty of breaks.

    2. Have freebies at your booth. Giving out free sweets or even just very well produced look books can have a powerful impact.

    3. Show, then sell. If someone shows interest in your products be there to help them explore and probe them about what they’re looking for, what else they stock, what their customers are like. If you listen carefully you’ll have all the information you need to make an effective sales pitch tailored to their interests.

    After the show

    Follow up! Everyone you have met will have met tens, if not hundreds of people. Some of them will barely remember you.

    Be ready to follow up with people you meet to initiate a business relationship. Don’t leave them guessing and be clear about what you’re proposing. It’s often tough to get buyers to commit at the show itself. This means that it’s even more important to follow up.

    Source: Worldonahanger.com By Emily

     

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    Filed under Advertising, Business, Fashion, Fashion Exhibition, Fashion Industry, Fashion Marketing, Fashion Show, Fashion Trade Show, Management, Market Research, Marketing, Marketing Mix, Marketing Strategy, Networking, New Product Marketing, Producer, Promotion, Publicity, Target Market, Trends

    Fashion Career Information

    Many do not realize it, but there are a variety of careers in fashion to choose from–the field is not limited to designers and models.

    Design

  • Fashion designers work with all different types of fashion, from bridal gowns to swimwear. A degree from a fine arts university or design institute, such as the Fashion Institute of Design & Merchandising (FIDM) in L.A. or Parsons in New York City, is the best way to get into this career.
  • Modeling

  • Modeling is one of the most sought after fashion careers, but it is not easy to attain or sustain. Models must meet strict requirements to get work, and the industry is driven purely by aesthetics.
  • Management

  • Modeling agents may also represent makeup artists, actors and fashion photographers. There is work for modeling managers around the world, and many even start their own management companies as opposed to working for established firms, such as Ford or Elite Models.
  • Event Production

  • Fashion show producers typically work in major cities such as London, Paris, New York City and Los Angeles, but there is work available in smaller markets too. Production companies, such as Sobol in Miami, Florida, are responsible for planning and executing fashion shows and events.
  • Publicity and Marketing

  • Fashion publicists and marketing experts generally work with fashion brands, designers and show producers to get them media attention and increase public awareness. Some publicists also work exclusively with famous models.
  • Photography

  • Fashion photographers, such as Jason Christopher, Derek Blanks and Richard Warren, help models develop portfolios, but they also shoot work for magazines and commercial websites. Those who take this fashion career path can find work around the world, in cities of all sizes.

    Original Source: eHow By Marie Dockett, eHow Contributor

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    Filed under Advertising, Agency, Business, Design, Fashion, Fashion Jobs, Fashion Marketing, Fashion Retailer, Fashion Show, Fashion Stylist, Management, Marketing, Merchandising, Photographer, Producer, Promotion, Publicity