From Idea to Business: Funding Your Business

Many people spend vast amounts of their personal money and don’t realize how much they will need to pay because it’s tough to figure out when to step out of that process. While many businesses worldwide are started this way, there needs to be an understanding of how far you can go with that. It is also wise to line up another source of funding for your business, both for peace of mind and to allow your business and your personal life to have some separation.

Other people are much more savvy about finding funding very early through networking. So, find people, investors, and other founders willing to take on a young brand or project. Do thorough research. Network a lot. Figure out how that works, what the risks are, what the opportunities are, and then make sure that you understand how much of both your own money and external investors’ money you’re going to need to spend in order to get to the level of success that you aspire to.

That’s where having a business mind, a business mentor, and a business partner is critical from day one. Because you don’t want to be in a position where you’re either spending all of your savings to make your dream come true, or you hit success, and you don’t have the financial means to achieve it. In other words, that you can’t meet the demand. So it is highly critical that financing comes into the picture from the get-go and that you are able to scale your financing according to the brand’s success and goals.

How Shoes are Made: Finding Your Inspiration

Fashion and footwear collections typically begin with moods, and this is why we call it the “mood board.” A mood board is made by finding inspirational images that fit your mood or theme, cutting out pictures from magazines, newspapers, and physically putting them on a cork board or pinning images on Pinterest. The mood board creates the vision of the collection, whether it’s dramatic and dark or resembles a softer aesthetic.

It will depend on the season as well as who you’re targeting in the footwear business. Who’s the target audience? Creating your footwear collection requires both creativity but also practical online footwear education on seasonal trends, forecasting, and catering to your goal customer and retail stores.

You’ll want to know what’s happening in retail stores simultaneously. Visit stores, such as Saks Fifth Avenue and Bergdorf Goodman, to observe and see which colors and details resonate for your own collection. What fabrics and embellishments strike a chord? You may see something at the back counter, or a small detail on a bag, or even the woman walking on the escalator captures your mood. Inspiration can be found at every turn.

The footwear education and design process is important for everyone to know, not just the designers. The process to get there needs to be, and is, touched by all different people throughout the shoe company. It includes the research of color, material, trends, design ideation, and the editing process to get to the best design.

Making shoes requires an extensive product development period where you’re not only working to resource your materials, prototype, and sample, but you’re getting the fit right. All of this needs to be done in a timely manner. This all happens before any pre-production or production and many people touch and influence the design process from marketing to customer, designer, and executives.

How Shoes are Made: Identifying Your Consumer

A customer profile is extremely important because if you’re trying to sell to everyone, you won’t sell to anyone because you’ll be too spread apart. You have to have a focal point on the kind of customer you want to go after because after you grow, your customer profile will grow, and you will gain others. You have to have that strong focal point in the beginning of what’s the customer you envision wearing your brand or wearing your shoes. One customer profile is a sexy, sassy woman or man that loves wearing stiletto heels.

When identifying a customer for your product, it’s important to know who your customer is, but also what is your product and service? After identifying what your product or service is, you’ll be in a better place to identify who your customer is. Start customer identification through demographics. What is their income? What is their location? What do they do for a living? What is their age? What is their ethnicity?

There are cultural nuances that influence a customer’s buying decisions as well. To further that customer selection, it’s also important to know customer psychographics. What are their hobbies? What do they enjoy doing in their free time? What are their favorite colors? What is their personality?

A lot of times this research is readily available, and you can search past footwear outlets or resources to find that information. Another great way to find this information is through social media. You can maybe hold a small focus group. You could reach out to your friends and family to get their insights.

If there are different groups on different social media platforms, whether those are sneaker lovers, leather shoe lovers or Timberland lovers, you can reach out to these groups to really tap into finding out what it is that they look for in their footwear selection.

If that is your customer, that is a great way for you to identify them. Talk to them and get inside their mind. What are their hobbies? What do they like to do? Are they the ones who are going to be purchasing your shoe? If not, then maybe you need to direct and find someone else. When you are doing the research to identify your customer, keep these things in mind: demographics, psychographics, and everything else will fall into place.

Instructing the Manufacturer: The Tech Pack: Case Study: Clo3D

CLO 3D is bringing the technical aspects of fashion design under one program.
The first thing we need to understand about the program is how it handles measurements. Measurements aren’t universal, so the first step is always working out, for example, what a size six means for your company. What are those measurements?
Those measurements are built into the CLO system, but what does this mean? Well, when you’re designing on your avatar, you have that size six. You have the sleeve length and all the measurements you need to design a pattern around that size. Not only do you have the measurements, but you also have the grading – all that information can be put into the program.
The technology allows you to print out the pattern based on the information you input. This includes the styling, the measurements, and all the details. It’s a fantastic way to build a garment from the ground up, ensuring internal consistency between all your designers and the products they create.
As with any modeling technology, there is an initial learning curve, especially for designers who tend to work with traditional mediums. Still, design students tend to pick it up quickly within the semester, with many of them building their own garments using the technology.
It may take a while to understand, but it’s not needlessly complicated. Everything has a function. For example, you don’t need to understand flat pattern making. Of course, having a background in traditional design is beneficial. You’ll need to have some background in sewing and how pieces come together to make the most of the technology.
As with any aspect of design, it takes time to master. Still, it’s a great tool, especially for students who are working online from home right now. Online you can learn the computer technology aspect well and start playing with the system. You can create your avatar and start designing as someone interested in the program.

Instructing the Manufacturer: The Tech Pack: Sampling and Tech Packs

When fashion designers need to instruct manufacturers how to create their products, they communicate the specifics by creating a tech pack. These documents explain all the information required to transform an idea, drawing, flat pattern, swatch selection, or combination of such concept elements into a finished garment.

After creating a tech pack, a designer typically forwards it to their product development, or PD, team. The PD team then sends the information to a factory – or multiple factories. This strategy reveals which factories can meet the desired standards and which are the most cost-effective. According to experts, cost differences are common, so it’s vital to aim for the highest quality at the lowest price.

Eventually, the factory returns samples based on the tech pack specifications. At this point, the designer evaluates the results based on various criteria. One common consideration is whether the factory produced an item to the stated specifications. In many cases, the quick turnaround times involved at this stage will result in some variability. For instance, early samples may incorporate substitute materials since a factory won’t have had time to prepare for the new specification in advance. Nonetheless, designers and their merchandising teams can benefit from considering whether the garments are aesthetically pleasing or correctly fitted.

Designers commonly have seemingly great ideas that don’t quite translate into appealing real-life apparel. In most cases, however, they prefer not to deviate too far from their initial tech pack specifications. Sticking to the plan helps brands satisfy tight timeline constraints.

Many production teams operate around something called a “Time and Action Calendar.” This well-known industry schedule involves a heavy, continuous workload. For instance, companies may work on three seasons’ worth of collections simultaneously, each with its own tech packs. Further complicating the timetable, a typical tech pack can progress through a cycle of multiple sample runs before being ready to go to market. In other words, it’s best to keep the initial tech pack as close to the desired target as possible.

Lessons: Design School Collections

“What inspired these young designers started almost a year ago with sketches, inspiration, and research,” Explains Explains Francesca Sammaritano. “The end product is what you see over here. You’re only seeing one look per designer. But, I wanted to share that with you.”

“It gives you a wide range of specializations that you can go into within the fashion industry, whether it be men’s wear, outerwear, women’s wear, or a more designer-level collection or aesthetic that you want to pursue.”

One designer did a collection of women’s wear outerwear with a lot of in-depth research on how outerwear works, what kind of technical fabrics you need, what colors work best, water repellency, all kinds of removable liners for when it’s cold or when it’s raining while also giving the option to wear the garment in different ways.

If you zip out the liner, you can wear the liner as a vest. She went a step further. She had a collection of shoes and boots made to go with her collection. The design process is inclusive of accessories as well as garments. She will pursue an opportunity in outerwear.

Another example of the variety of jobs or opportunities that you can pursue once you become a designer could be women’s wear designer on a higher level. This designer really values the art of craft. He invested in a weaving machine. He made this fabric. He bought the yarns.

He designed the fabric, made yardage, and then he sewed the garment. He is now pursuing an opportunity in designer women’s wear with a focus on craft. Another example that I thought would be wonderful to show is our menswear designer who coincidentally won the Menswear Designer of the Year.

This is just one example of his extensive collection. In this, he incorporated a few different aspects. He used natural fibers. He printed his own fabric and his own print from curtains that inspired him from growing up in his house in childhood. He is a menswear designer.

But, we found that in the conversations that we had with him and in the presentations that he’s had of his collection, a lot of people would ask him, would you consider designing for women’s wear too? Because as a woman, I would wear your garments. Or you could do both. Or there could be a customer for either/or. This is a very interesting, trendy category that we find a lot of students are going for.

Lessons: Digital Connections

Get an inside look on how creators in the fashion business tailors digital content and come up with fresh ideas for online fashion education across.

“All our digital platforms are unique. Each one is its own creature,” explains Amy Astley. “So what the Pinterest audience is looking for is different from the Tumblr, Twitter, and Facebook audiences, which are huge audiences, by the way.”

In some places, people are looking for services, information, or news you can use. In other places, it’s a visual bit of inspiration, just a quick delight to the eye for the day.

We think about every single platform and teamvogue.com differently. Asking, what is this audience looking for? “But then in addition to serving the audience, we try to surprise and delight them too, with something that they didn’t think of.”

Ashley explains that when you’re making digital content, you want to keep it short, keep it shareable, make it something that grabs you. “Because it’s so beautiful, it’s so clever, it’s so funny, it’s something that their friends have to see that there’s something about it that’s grabbing them quickly.”

“And it has to be a real idea,” Marie Suter adds. “I feel like what we’ve discovered is that if it’s just behind-the-scenes or something similar, nobody’s interested.”

“Been there, done that. Seen that. You have to keep challenging yourself.” says Amy.

“For the last six months, I’ve been meeting a videographer, showing Amy, and we’ve been entering this world,” explains Marie. “But now, not only do we have the print team that does the shoot where we would get extra shots, but we often have a videographer with a completely different idea.”

In the last three months, it has changed. At first, the photographer from the shoot was doing the video and was on the side at the end of the shoot, when there’s no more light. Where now, there are specific times carved out.

We shoot a lot of musicians and with this content you want to do something on the website that’s linked to their music, where you can listen to it. When we do beauty shoots for the magazine, we work with those big makeup artists or hairstylists. Marie explains, we’re going to go a little more editorial. Then we will simplify it slightly, more on a how-to for the web.

“Ideas just have to be better from the get-go, so we can spread it out over all those platforms,” says Marie.

Lessons: Everyday Chic Collection

Muriel Favaro is an accomplished artist and associate professor at Parsons School of Design with a few things to share on the subject of creating fashion from everyday objects. This creative pursuit is a way to sharpen your fashion education skills and eye for design using found objects. As fashion business increasingly looks to sustainability, repurposing items is more than a fun trend.

For her homemade chic project, Favaro decided to take a handmade crochet knit and simply put it in the photocopier. She shot screens of the crochet knit and screen-printed the muslin. She repurposed a tissue holder to put all her clips in it and everyday objects for a simple, friendly, and homemade chic.

“In talking about doing always what you truly, truly love – since I was a child, this is my geometry book from when I was 10 years old. I loved geometry. I loved clean lines. I loved colors. And just out of the blue, I discovered that this print I made recently, it’s the exact same thing that I was doing when I was a child. It’s charming.

I also want to speak about my love of what I call everyday objects. I love the tape measure, the scissors, the ruler, pattern paper. I’ve been painting everyday objects myself. So I’ve been painting my scissors, and I have series on all of that. I’m going to just show you some examples.

This is actually a soap grater. I’ve been painting my tools, and it has every stain, every detail of my very used-the screwdriver I took with me when I came to New York almost 40 years ago. My pliers-I came with this pair of pliers also 40 years ago. It has been just a companion in my life. And making it become all of a sudden a piece of art that is going to be noticed on the wall feels really great.” (Muriel Favaro)

Creating an Online Presence: Branding in the Digital Age: Branding in the Digital Age

Branding is a unique opportunity for entrepreneurs.

In today’s world, there are so many ways an entrepreneur can use branding to strengthen their business. For little to no cost, entrepreneurs can post branded content across social media platforms to sell product and grow their business.

The Branding Challenge

The challenge with branding, however, is that it can be difficult for entrepreneurs to be creative and come out with unique and differentiated content. As a low-cost strategy, many entrepreneurs are using branded content, and this is saturating the market and creating more competition. Entrepreneurs will publish great content on social only to find that they are only gaining a few likes and not generating the attention and engagement they need to sell product and successfully run their business. To be successful, entrepreneurs need a couple hundred thousand, or millions, of likes to achieve significant business growth.

TikTok is the Latest Dream Machine for Marketers

With global popularity, TikTok is gaining traction as one of the most popular platforms for advertisers. With 15 seconds to capture consumers’ attention, advertisers are leveraging music and parading to something fashionable to develop memorable branded content.

It’s a common human trait that we can receive information faster that we can send it, so in 15 seconds brands have enough time to tell their whole story, brand it, and repeat it umpteen million times. And the best part? It cost literally nothing.

The catch, however, is that to be successful on TikTok, you need to be more creative than the next guy. With so many brands fighting for consumer attention, your content must be differentiated and unique to be successful. So, for all the entrepreneurs looking at low-cost solutions to share their brand message, TikTok is a great option. But you must be that much more creative to succeed.

Distribution & Fulfillment Channels: Fast Fashion: Distribution Disruption as Business Model

Fashion is changing rapidly and speed to market is a huge part of this transformation. In the past few years in fast fashion we’ve seen a lot of disruption, decentralization, and Instagram monetization.

Think about the original fashion business supply chain and how it’s been set up with department stores and a push model of the industry deciding what’s available and what we’re going to wear. Everyone was shopping in malls to engage with products.

Today, we’re operating more on a pull model where customers can tell us more about what they want. We’ve seen retailers like Zara, Forever 21, and H&M operate in this model of what we consider fast fashion. The real difference is the speed to market and the time it takes for the production process for that product to make its way to a floor.

Zara has been able to innovate and engage with feedback loops and speed up the process to market. Engaging in smaller batch manufacturing is helpful when you’re competing for space on a manufacturing line. It takes more effort and resources to produce 30,000 garments in one place versus spreading out demand in several factories since you’re competing with other retailers and brands to get manufacturing facility space and capacity.

Using fashion education, you can pivot more quickly when you’re dealing with fewer units. There’s opportunities to use customer feedback to shorten production lead time.There are so many points in the supply chain where, when you’re dealing with less units, it becomes easier for stores to more quickly funnel their product.

In historical department store retail, it could take six to nine months to go through this process. Fast fashion really disrupted that process and we no longer have to wait for the season to end to continue iterating, innovating, and ultimately bring newness on our time.