Initially, unless you are independently wealthy, you will need to perform as many functions within the business as you can, to save costs. Yes, there will be things that you cannot do yourself and you will have to pay someone to perform these functions for you but, the more you can do the lower the business costs will be.

Go into any / all the High Street banks, grab one of their packs (they all do them) to do with starting your own business. Read all the notes thoroughly, they will start the process of questions that you need to ask yourself about your intended business.

How will your target customers get to know about you?
Why will they actually buy from you rather than a competitor?
Can you realistically deliver on time, at the price agreed, in the quality approved?
Why do you think you can?
Will you have control of all aspects of the business?
Why will you charge the price that you do to your customer?

Do not rush into business; it is physically, mentally and emotionally very tough getting a business off the ground, especially a creative business.

Unfortunately the national figures for business start up successes are not encouraging. Many businesses fail within the first 18 months of trading and the success rate for businesses surviving 3 years is not much better!

Be honest with yourself! Owning your own business is not for the faint hearted!

When promoting or marketing your product / service, remember it will take more than a one off mass promotion at your launch to attract enough customers. It is imperative to budget and plan for marketing activity throughout the year.

No business ever "sells everything" first time out so you must be actively trying to attract new business all the time.

If you are proposing to create 2 collections a year, my first question is why?

Most retailers buy throughout the year, they are certainly selling throughout the year so why only 2 collections, that belongs in the last century!

Target a realistic, achievable market, do your homework! Not book research - foot research. If you know who you would like to supply, which slice of the market has space for you, go talk to them, see if you can build a relationship with them. If you target retailers, they should know who their customers are, if you can get a picture of the end user, it will help you in
the design process.

Starting your own business takes time, your time, so expect to put your social life on hold! The business and everything connected with it will fill your mind throughout your waking hours.

It is your dream, your baby, you must do everything you can to nurture it, support it, help it to learn, grow and to transform into something robust and worthwhile.
Stack the odds in favour of success.

Our confidential advice service will help you prepare appropriately before starting up in business.