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Many people have asked me how do I get so many press features and how do I manage to get sponsors for my fashion show. Sometimes I get a little angry when I hear this. Because their tone seems to suggest that I was plain lucky and "help" just fell like rain from the sky.
Perhaps I was blessed with abit of luck. But more importantly, perseverance,and wit is essential to getting help successfully. I suffer demoralising rejections too. For every "yes" that I get, there are numerous numerous rejections which people dont see. Asking help is an art itself. Some people dont ask and wish for help so they never get it. Some people ask for help wrongly and they get ignored. Excluding loved ones and friends, people will only help you if there is a reason and usually there must be something in it for them. And you must provide the reason for them to help you.
When I approach sponsors, first I study their organisation and their clientele and find out why they have to help me and what I can offer them. The proposition must be compelling and summarised as sponsors are BUSY. Then when you are ready, the scariest thing is making a cold call. And if you are lucky, they grant you a meeting to hear you out. But this is only the beginning of a marathon. There are many layers of approvals in an organisation and you must pass thru them where each have different agendas. This process will take few months at least and rob you of your strength and stamina. The faint hearted will have given up by now. But the determined will perservere and tackle every meeting with wits till you win the battle. So this is how some people get sponsors eventually and some dont.
Applies to press features also. I have to analyse the magazine and think of interesting news angles to pitch to reporters. I write all my own press releases as I have no budget to hire PR firm which charges arm and leg. And the most exhausting part is follow up, follow up, follow up every few days with the reporters, maintaining a thin line between perservering and pesky. And I do get ignored, chided too. This is reality. But when you get a good feature, you taste the sweetness of success
There was once a film student approached me to sponsor outfits for her graduating work. I asked her why she approached me. And she said she like my outfits and thought I could reach out to the students in her school. And when I asked her what's her film about, she emailed me a script more than 30 pages long. She did 3 mistakes. Liking something is not a reason for the person to sponsor you. My clientele are mostly working executives not students. And I do not have time to read a 30 page script. And needless to say, I did not sponsor as it just did not make sense for me.
Showing posts with label Entrepreneurship. Show all posts
Showing posts with label Entrepreneurship. Show all posts
Wednesday, 22 July 2009
Monday, 6 July 2009
5 Ways To Survival in A Business
There was a recent newspaper article which reported several local labels have closed their stores or ceased operations totally. One retailer even reported this year's sales was their worst and they could no longer afford to have their store. And they now only sell on consignment in stores. Such reports are really saddening.
I am not a guru in business but I certainly hope to celebrate Fuchsia Lane's 50th anniversary and beyond. So here are my thoughts.
1. Treat your customers as friends
There is a saying treat your customer as king but I feel this is too pandering. I prefer to treat them as friends so I always recommend what looks best on them and what not to get. I remember their names, their purchases, their birthdays, their stories about their childern and hubbies. I put on a big genuine smile whenever I see them like I see a friend. I sms or call them occasionally. And they can feel it I believe. And vice versa I also share with them my difficulties in being a young start up and many of them understand.
2. Be Creative and Proactive
Everywhere now I see stores slashing their prices. I feel that consumers have become immune to storewide discounts. And if you only give discounts all the time, it seems to mean you have nothing to give your customers except discounts. For myself, I try to value add, address my customer's needs better and keep coming up with unique designs that flatter a woman's body.
Naughty Nights Retail Therapy came about becuase I realised my customers are occupied with working or taking care of the kids during normal hours. So I tried late night shopping which was more relaxing. People tell me I am mad as the area my store is in is deserted after office hours but the idea worked and it was fun! And we proactively look for sponsors who supported our Naughty Nights idea.
3. Surround yourself with supporters
Surround yourself with people who believe in you, rally around your cause and will help you. This creates positive energy. No one can do everything alone and dont be afraid to ask. Gary is my biggest supporter. He provides advice when I am perturbed, design ideas from a guy's point of view and is the carpenter, the driver, the delivery man and the list goes on.
Many of our sponsors of our first "In Love With Passion" fashion showcase last year agreed within a few days! Our Presenting Sponsor On Cheong Jewellery sponsored us cash as they believe in my talent and the branding potential that comes with supporting a young designer. Thank you to all! These people allow me to go further.
4. Be Firm
When you are young and a new start up, everyone tries to "eat" you. It is a vicious world out there and you need to stand firm to command respect. Dont be afraid to walk out if the other party offers you unfair terms. I must have earned myself a reputation for being a chilli padi over these years.
I rejected a prestigious hotel as the terms offered were unfair even after months of discussion. The hotel initially offered to do a direct purchase of my items which really sent me over the moon. After 2 months, the manager told me the management changed decision and decided to consign my items instead at their shop. And they would not be responsible for any items lost, stolen or damaged. I cant imagine that behaviour came from an international luxury hotel who earned billions in a year. They told me other "suppliers" have readily signed it. Well I decide how I want to be treated.
5. Guard your cash
Cash is the blood of businesses. Many profitable businesses close becuase of lack of cash. I go weak in my knees when I see catalogues of pretty laces and trimmings and I want to buy them all. But stocks "eat up" your cash. Pay only when you need to, delay your purchases when you need to and do a cash flow projection. I am still trying to learn this.
I am not a guru in business but I certainly hope to celebrate Fuchsia Lane's 50th anniversary and beyond. So here are my thoughts.
1. Treat your customers as friends
There is a saying treat your customer as king but I feel this is too pandering. I prefer to treat them as friends so I always recommend what looks best on them and what not to get. I remember their names, their purchases, their birthdays, their stories about their childern and hubbies. I put on a big genuine smile whenever I see them like I see a friend. I sms or call them occasionally. And they can feel it I believe. And vice versa I also share with them my difficulties in being a young start up and many of them understand.
2. Be Creative and Proactive
Everywhere now I see stores slashing their prices. I feel that consumers have become immune to storewide discounts. And if you only give discounts all the time, it seems to mean you have nothing to give your customers except discounts. For myself, I try to value add, address my customer's needs better and keep coming up with unique designs that flatter a woman's body.
Naughty Nights Retail Therapy came about becuase I realised my customers are occupied with working or taking care of the kids during normal hours. So I tried late night shopping which was more relaxing. People tell me I am mad as the area my store is in is deserted after office hours but the idea worked and it was fun! And we proactively look for sponsors who supported our Naughty Nights idea.
3. Surround yourself with supporters
Surround yourself with people who believe in you, rally around your cause and will help you. This creates positive energy. No one can do everything alone and dont be afraid to ask. Gary is my biggest supporter. He provides advice when I am perturbed, design ideas from a guy's point of view and is the carpenter, the driver, the delivery man and the list goes on.
Many of our sponsors of our first "In Love With Passion" fashion showcase last year agreed within a few days! Our Presenting Sponsor On Cheong Jewellery sponsored us cash as they believe in my talent and the branding potential that comes with supporting a young designer. Thank you to all! These people allow me to go further.
4. Be Firm
When you are young and a new start up, everyone tries to "eat" you. It is a vicious world out there and you need to stand firm to command respect. Dont be afraid to walk out if the other party offers you unfair terms. I must have earned myself a reputation for being a chilli padi over these years.
I rejected a prestigious hotel as the terms offered were unfair even after months of discussion. The hotel initially offered to do a direct purchase of my items which really sent me over the moon. After 2 months, the manager told me the management changed decision and decided to consign my items instead at their shop. And they would not be responsible for any items lost, stolen or damaged. I cant imagine that behaviour came from an international luxury hotel who earned billions in a year. They told me other "suppliers" have readily signed it. Well I decide how I want to be treated.
5. Guard your cash
Cash is the blood of businesses. Many profitable businesses close becuase of lack of cash. I go weak in my knees when I see catalogues of pretty laces and trimmings and I want to buy them all. But stocks "eat up" your cash. Pay only when you need to, delay your purchases when you need to and do a cash flow projection. I am still trying to learn this.
Saturday, 27 June 2009
The 3 Misconceptions About Starting A Business
1. You need lots of capital to start a business.
That's what everyone thinks. But if you are creative, you dont unless you are building a hotel or some mega project. And I think the more $$ you have, the more you are afraid to venture and lose it. I started with less than $3000 with no financial help from my parents who spent what they had on my education. Yes you heard it right. Start small and build up.
When I first started, I couldnt afford any physical space. And I sold online. Whenever anyone was interested, I will lug around my big bag of clothes in various sizes for the customer to try. I developed a chronic backache as a result. I will meet customers in shopping centres or hotels or their houses. Some of my earlier customers will have remembered that. I remembered once when a rich tai tai called me to bring as many designs as possible to her apartment after seeing them on my web. There was no lift and I climbed up the whole stairs with my luggage bag. In the end, she told me my clothes are expensive for her as she could invest in designer togs instead. And I climbed back down the stairs with the big luggage bag. And she lived on top of a slope.
2. You need lots of experience
I didnt had any former fashion education or experience. But what helped me was my experience in the creative field and marketing communications, it helped me market Fuchsia Lane effectively. I created a unique story angle for my press releases and Fuchsia Lane was featured in the papers for more than 30 times. You need to know what you are getting into but you dont need years of experience. And be prepared to fall and learn.
3. You can do whatever you want as a boss.
That is so not true. As your business grow bigger, you take on more obligations and responsibilities. Fuchsia Lane has the obligation to the staff and their families. I have to make sure they get fed even if business is bad. They get paid first. I have a responsibility to my customers to make sure they are getting what they pay for. All my designs get finalised after destroying many samples which explains the price. I cant stop working or declare myself a holiday just because I feel like it. I think I work 16-20 hours a day. My head is full of stuff like creating new designs, making sure my staff are working hard and happy, attracting and retaining customers, thinking of new ideas to increase business in these times.
That's what everyone thinks. But if you are creative, you dont unless you are building a hotel or some mega project. And I think the more $$ you have, the more you are afraid to venture and lose it. I started with less than $3000 with no financial help from my parents who spent what they had on my education. Yes you heard it right. Start small and build up.
When I first started, I couldnt afford any physical space. And I sold online. Whenever anyone was interested, I will lug around my big bag of clothes in various sizes for the customer to try. I developed a chronic backache as a result. I will meet customers in shopping centres or hotels or their houses. Some of my earlier customers will have remembered that. I remembered once when a rich tai tai called me to bring as many designs as possible to her apartment after seeing them on my web. There was no lift and I climbed up the whole stairs with my luggage bag. In the end, she told me my clothes are expensive for her as she could invest in designer togs instead. And I climbed back down the stairs with the big luggage bag. And she lived on top of a slope.
2. You need lots of experience
I didnt had any former fashion education or experience. But what helped me was my experience in the creative field and marketing communications, it helped me market Fuchsia Lane effectively. I created a unique story angle for my press releases and Fuchsia Lane was featured in the papers for more than 30 times. You need to know what you are getting into but you dont need years of experience. And be prepared to fall and learn.
3. You can do whatever you want as a boss.
That is so not true. As your business grow bigger, you take on more obligations and responsibilities. Fuchsia Lane has the obligation to the staff and their families. I have to make sure they get fed even if business is bad. They get paid first. I have a responsibility to my customers to make sure they are getting what they pay for. All my designs get finalised after destroying many samples which explains the price. I cant stop working or declare myself a holiday just because I feel like it. I think I work 16-20 hours a day. My head is full of stuff like creating new designs, making sure my staff are working hard and happy, attracting and retaining customers, thinking of new ideas to increase business in these times.
Friday, 26 June 2009
Do you have what it takes to be an entrepreneur?
Entreprenueurship has surged in these difficult times when almost someone you know is retrenched. When the job market becomes saturated, more and more people start to think about starting a business. To test whether you are suited for starting a business, I have deduced 5 qualities every entrepreneur should possess based on my own experience.
1. Passion
This is the most important ingredient for starting any business. The course of business never quite run smooth. Almost 95% of your friends and families will dissuade you and not believe in you. You must believe strongly in what you do especially when times are bad, and when you are not making money and your bank account is falling everyday. When I first started my business, my parents didnt believe me, my closest aunt didnt either, it was painful. If I didnt have the passion in what I do, I will have given up many times.
2. Stamina
Unless you intend to start a business, get a quick buck and end in 2 years, you need stamina to build your company, your brand, your empire. You need to slowly gain the trust of your customers, staff and even your family members who initially objected to you starting a business. It is a marathon that can span as long as you live. I want to be able to celebrate Fuchsia Lane's golden anniversary.
3. Vision
Create a vision of what you want your business to be in 1 year, 3 year, 5 years and 10 years' time. My vision is for Fuchsia Lane to become a global designer label with strong artistic and cultural roots and everything I do now is to take baby steps towards this big vision.
4. Proactive
You are the driver of your business. If you wait for things to happen, nothing will. You have to actively pursue it, make things happen, create miracles everyday. Go out and make yourself known. Close a deal proactively. Actively seek for help if you need it. Your business face threats everyday and you must think of innovative ways to overcome it. If you dont advance, your business dies.
5. Strong financial sense
No money no talk. Cash is essential to survival. I am still learning to master financial control. Every business exists to make money. You either bring the costs down or sell your goods high. But it is not a simple equation. There are many things that will affect your financials like a sudden economic crisis, months of bad business, hikes in supply prices, a deal didnt go through.
1. Passion
This is the most important ingredient for starting any business. The course of business never quite run smooth. Almost 95% of your friends and families will dissuade you and not believe in you. You must believe strongly in what you do especially when times are bad, and when you are not making money and your bank account is falling everyday. When I first started my business, my parents didnt believe me, my closest aunt didnt either, it was painful. If I didnt have the passion in what I do, I will have given up many times.
2. Stamina
Unless you intend to start a business, get a quick buck and end in 2 years, you need stamina to build your company, your brand, your empire. You need to slowly gain the trust of your customers, staff and even your family members who initially objected to you starting a business. It is a marathon that can span as long as you live. I want to be able to celebrate Fuchsia Lane's golden anniversary.
3. Vision
Create a vision of what you want your business to be in 1 year, 3 year, 5 years and 10 years' time. My vision is for Fuchsia Lane to become a global designer label with strong artistic and cultural roots and everything I do now is to take baby steps towards this big vision.
4. Proactive
You are the driver of your business. If you wait for things to happen, nothing will. You have to actively pursue it, make things happen, create miracles everyday. Go out and make yourself known. Close a deal proactively. Actively seek for help if you need it. Your business face threats everyday and you must think of innovative ways to overcome it. If you dont advance, your business dies.
5. Strong financial sense
No money no talk. Cash is essential to survival. I am still learning to master financial control. Every business exists to make money. You either bring the costs down or sell your goods high. But it is not a simple equation. There are many things that will affect your financials like a sudden economic crisis, months of bad business, hikes in supply prices, a deal didnt go through.
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