Q&A | Where to start with when you want to have your own business?

1. Where to start with when you want to have your own business?
You should consider the following aspects, which is also a set of tools to clarify your idea of your business.

What
What will you do?
This part includes the specific consideration of your project.
For instance:
What product/service are you going to provide?
Who would need your product/service? And why they need this?
Is there any substitute of your product/service?
Is there any innovation of your service, business model, or operation region if your product is easily to be replaced?

In a word, if your product or service has no unique features, you should introduce other extraordinary business models—like profit model or commercial operating patterns—to your project, or try to occupy the markets without fierce competitions yet, for instance forth-tier or fifth-tier cities. Without the uniqueness, customers will have no motivation to buy the existed products.

Why
Why would you like to do this?
By starting their own business, many people actually want to avoid the frustrating real life, on bad terms with boss or colleagues, or away from the so-called ideal position or freedom of life.

To be frank, a seemingly decent reason is not an essential element for a start-up business. In my observation, the successful entrepreneurs can be divided into two types: some have no opportunities or conditions to realize what they really want to do in the exist companies, starting their own business, and the others are to chase their sincere passion for a particular business.

The true love for your business instead of a shelter from the reality is the key to success. Or you may be regretful for your decision on starting up your own company in the future if you only want to get away from the reality. To work for yourself can only be much harder than to work for another people.

How
How to realize your ideas?
How to develop new products?
How to sale? (about distribution channels)
How to popularize your product? (about marketing channels, strategies and content)
How to cost less but achieve more opportunities?

Why
Why do you think you will succeed?
Most of time what you plan to do has been or is being carried out by the predecessors. People with zero experience in starting-up always assume falsely that they are the first pioneer in the field, which mostly comes from the inadequate research of the market.
However, it doesn’t means you cannot do what others have tried. You should consider what new conceptions do you have, what abilities and resource you have can be benefit for your project?

Who
Who will you work with?

It’s an essential aspect. Many cases of projects dissolution are out of the disbanded partnership teams. So to find appropriate ones to work together is another essential element for your business.

What about your funds for the project?
How much would you cost to start your business? Where the money comes from? How long will your project realize a benefit damage balance? And how long will the cost-recovering?

2. How to deal with the materials issues for a small costume design team?
Q: I want to establish a small costume design studio. Design and producing are both by ourselves, which doesn’t consume a large volume of cloth. Is there any factory willing to take our small orders? Or is there any substitute way to deal with it? How about the expense?

A: Most factories set minimum order quantity, but at the beginning your studio would not consume that large volume of cloth.

Here are several solutions:
1. Developing more styles with one type of cloth. You can raise the volume of the cloth with several styles if one style cannot reach the minimum order quantity.
2. Applying the digital printing. It’s not so expensive than you think and it’s particularly suitable for textile printing.
3. Purchasing the stock fabric. You can find much on Alibaba.com by searching stock fabric.
4. Purchasing the spot goods in the wholesale markets.

In a word, there are many solutions, less complicated and cheaper than you would think to be.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s