It is time for another episode. I am Heneka Watkis-Porter, the host and creator of The Entrepreneurial You podcast if you are new here. Last week my guest was with one of the co-founders of the Learn Grow Invest community, Jermaine McDonald. Jermaine took us through the ins and outs of building an investment community along with its benefits and challenges. This week, we will be talking with a Money Coach! Can someone say, ‘chi-ching’! I am excited. The Entrepreneurial You is supported by henekawatkisporter.com and The Jamaica Stock Exchange (you should check out their podcast, proudly hosted and produced by me.)

My guest on episode 268 of The Entrepreneurial You today is Charlene Tilbanie. Charlene is a chartered accountant with almost 20 years of experience and has worked in public and private accounting. Charlene has been working in the financial services sector for the past 12 years and daily manages the accounts of companies and organisations with hundreds of thousands of assets. Having been consumer debt free for ten years now, Charlene believes that everyone should be financially literate and that everyone has the ability to experience some measure of financial freedom. Her passion for personal finance came out of her own debt-free financial journey. Charlene now helps women break free from financial stress and build wealth for generational impact.

Charlene – https://www.instagram.com/charlenemoneycoach/

Give Away: Free checklist on how to prep your finances before investing www.bit.ly/beforeyouinvest2022

PODCAST REVIEW: Awesome Podcast: Heneka, host of The Entrepreneurial You podcast, highlights all aspects of business, entrepreneurship and more in this can’t-miss podcast! The host and expert guests offer insightful advice and helpful information to anyone who listens! Clarisse Gomez, USA.

If you write a review send me an email at henekawatkisporter@gmail.com let me know so I can shout you out right here on the show!

Stay connected with me: https://www.facebook.com/henekawatkisporter/ https://twitter.com/TheEntrepYou https://www.instagram.com/heneka_watkis_porter/ https://www.linkedin.com/in/henekawatkisporter/ https://youtube.com/user/Heneka2010 https://www.pinterest.com/watkisporter/ https://www.henekawatkisporter.com/teypodcast

It is time for another episode. I am Heneka Watkis-Porter, the host and creator of The Entrepreneurial You podcast if you are new here. Last week my guest was Anthony Chang, Chief Executive Officer of Consolidated Bakeries. Among other things, we got a little history lesson on how Consolidated Bakeries came about, where the company is today and a peep into its future. This week, it’s all about building an investment community whose members are a diverse set of investors. I can’t wait to get this going.

My guest on episode 267 of The Entrepreneurial You today is Jermaine McDonald. Jermaine is a Christian, Entrepreneur, Investor, Technology Enthusiast and Content Creator. He started Learn Grow Invest Club a few months after his investment journey began in December 2017 to increase his investment knowledge and help others along the same path as himself. Since then, the Learn Grow Invest club has hosted over 100 Investor Meetings virtually and in In-person. The community discusses investments, personal finance, real estate and many other topics for the benefit of understanding and making better investment decisions.

Stay connected with me: https://www.facebook.com/henekawatkisporter/ https://twitter.com/TheEntrepYou https://www.instagram.com/heneka_watkis_porter/ https://www.linkedin.com/in/henekawatkisporter/ https://youtube.com/user/Heneka2010 https://www.pinterest.com/watkisporter/ https://www.henekawatkisporter.com/teypodcast

Last week my guest was with someone we may very well describe as a money maven. She’s a financial strategist and investment educator, Keisha Bailey. We looked at some investment strategies you should be focused on even if you believe that you are late to the wealth-building game. This week, we will be talking about business success, particularly in the baking industry. Sweet, I know. I can’t wait to get this going. The Entrepreneurial You is supported by henekawatkisporter.com and The Jamaica Stock Exchange (you should check out their podcast as well, proudly hosted and produced by me.)

My guest on episode 266 of The Entrepreneurial You today is Anthony Chang. Anthony is Chairman, Chief Executive Officer and Managing Director of Consolidated Bakeries, producers of brands we love: Purity and Miss Birdie.

Stay connected with me: https://www.facebook.com/henekawatkisporter/ https://twitter.com/TheEntrepYou https://www.instagram.com/heneka_watkis_porter/ https://www.linkedin.com/in/henekawatkisporter/ https://youtube.com/user/Heneka2010 https://www.pinterest.com/watkisporter/ https://www.henekawatkisporter.com/teypodcast

Last week I had a delightfully luminous conversation with Kingsley Cooper, Chairman of Pulse Investments Limited as he shared how his mother influenced his journey to begining a shrewd businessman and that from an early age, he ‘majored’ in extra-curricular activities which led to what he is doing now. This week, we will talk about wealth with a financial expert to assist our wealth game because we deserve that. Yaaay. I simply CAN NOT wait. The Entrepreneurial You is supported by henekawatkisporter.com and The Jamaica Stock Exchange (you should check out their podcast as well, proudly hosted and produced by me.)

My guest on episode 265 of The Entrepreneurial You today is Keisha Bailey. Keisha is the industry powerhouse behind the Profit Jumpstarter brand and is an experienced Financial Strategist, Investment Educator and Entrepreneur. She spent 17 years making money for wealthy individuals and corporations before shifting her expertise towards serving the up and coming generations of wealth builders.

Stay connected with me:
https://www.facebook.com/henekawatkisporter/
https://twitter.com/TheEntrepYou
https://www.instagram.com/heneka_watkis_porter/
https://www.linkedin.com/in/henekawatkisporter/
https://youtube.com/user/Heneka2010
https://www.pinterest.com/watkisporter/
https://www.henekawatkisporter.com/teypodcast

Did you miss me? As I mentioned during our last episode that aired a few weeks ago, I took all of April off. It turns out that I also took 2 weeks in May because I truly never had to drive to jump right back in the thick of things. But I am over that hump now and here I am. I am so happy to be back with you.

Over the next couple of episodes, we are going to be focused on featuring executives from companies that are listed on the Jamaica Stock Exchange in addition to experts on finance and investing. I believe that as I am in another phase of my life where I am concentrating on building wealth, it is only fair that I take you along for the ride. I do trust that you will enjoy it.

The Entrepreneurial You is supported by henekawatkisporter.com and The Jamaica Stock Exchange (you should check out their podcast as well, proudly hosted and produced by me.)

My guest on episode 264 of The Entrepreneurial You today is Kingsley Cooper.

Kingsley chairs the board of Pulse Investments Ltd. An attorney at law, Cooper is the founder of the company.

A pioneer in the fashion, modelling, lifestyle and entertainment industries in the Caribbean, Cooper has guided Pulse to pre-eminent status in its areas of operation.

His work has been recognized by entities such as Vogue, the BBC and Fashion Television and is regularly seen in many countries of the world. Pulse supermodels have held some of the top spots in world modelling and are highly respected.

Stay connected with me:

https://www.facebook.com/henekawatkisporter/
https://twitter.com/TheEntrepYou
https://www.instagram.com/heneka_watkis_porter/
https://www.linkedin.com/in/henekawatkisporter/
https://youtube.com/user/Heneka2010
https://www.pinterest.com/watkisporter/
https://www.henekawatkisporter.com/teypodcast

Episode 263 The Entrepreneurial You Podcast
The Quick-Start Guide to Launching Your Fashion Brand (Part 4)

Part 4 of this series looks at Shipping & Distribution + More
You finally have your designs and you’re anxious to get them to market. After all, what good is a product if it is not in the hands of a customer? A very important part of the process is the logistics of how this will happen.

Depending on where you plan on shipping to, ask your production facility if they engage in dropshipping. This is where they store your product and ship to your customers from their location to reduce the time it would take to have them ship the final product to you then you in turn ship to customers (assuming you are dealing with overseas customers).

It is important to get familiar with the International Commercial Terms (Incoterms). This will aid in preventing any undue stress that can accompany the shipping process. Being aware of this is important to making a decision about whether you will ship via sea or air.

You’ve read this far. Great, it means you are still interested in starting your fashion business. Here are some options to consider in getting your product out to customers:

❇️Are you targeting boutiques styled retail outlets?

❇️How about department stores?

❇️Will you sell direct to customers or direct to businesses?

❇️Will it be offline or online or a combination of both?

What about channels such as eBay, Etsy, Facebook, Pinterest, Instagram, Craigslist and Shopify? While this list is not exhaustive, the platforms mentioned are great options to consider as you build your brand.

❇️Will you decide to open your own boutique to offer your unique experience to your market?

Have any questions? You can contact me through email (henekawatkisporter@gmail.com) or find me on Facebook, YouTube Twitter, Instagram, and LinkedIn. Thanks for listening!

For more updates and episodes, visit my website. You may also tune in on Apple Podcasts, Google Podcasts, Stitcher, and Spotify. Some episodes are also available on YouTube.

Part 3 of this series looks at Creating Samples & Production:
After carefully thinking through your idea, doing your market research and business plan, it’s now time to create showroom samples to start seeking out prospective retailers.

If your fashion collection is simple like t-shirts, for example, you may source ready-made blanks from white-label sources and have them embellished with your custom designs.

You may also choose to identify a manufacturer to have them custom made according to your specifications as in the case of Patwa Apparel. I will go into more details about how to identify a supplier/manufacturer later.

If it is more elaborate, consider whether you will be the one designing or whether you will you employ a fashion designer. Can you make your own patterns or will you identify an expert to do this if this is not your area of expertise?

You may consider connecting with a final year fashion design student from your local university to intern with you. Final year fashion design students are usually a great source of help as they need the experience. They will be willing to start at a lower fee than a more experienced designer. This is a win-win.

Will you be the one manufacturing or will you outsource this to a production facility?

Have any questions? You can contact me through email (henekawatkisporter@gmail.com) or find me on Facebook, YouTube Twitter, Instagram, and LinkedIn. Thanks for listening!

For more updates and episodes, visit my website. You may also tune in on Apple Podcasts, Google Podcasts, Stitcher, and Spotify. Some episodes are also available on YouTube.

Part 2 of this series examines “Funding Options” – This is a vital part of developing your fashion business. Some possible sources include:

✅Personal funds
✅Loans from families and friends
✅Bank loan
✅Grants for small businesses
✅Equity Investment
✅Crowdfunding
✅Bartering your service

🟡If you have personal funds available, you may choose to use some of them to get your business off the ground. Decide on the percentage of your funds that is comfortable for you to invest in your business – don’t go all-in with your savings. Make sure you keep something for a rainy day; entrepreneurship by definition is a risk.

🔵Friends and Families can be a great source of getting your fashion business started. They want to see you succeed and most will be happy to be part of your success. Be sure to leverage them to get you going. You may want to discuss interest rates and terms. Think about drafting a simple, one-page agreement if this is a route you’re taking.

🟤Be very cautious about taking out a bank loan at the early stage of your fashion business. You want to ensure that your energy is focused on growing your business instead of worrying about the repayment of a loan that may attract high-interest rates. If you don’t have collateral, this may be a challenge for you in the startup phase. If you do have assets such as your home or car, be very cautious about putting these up to access a loan. You never want to put your home at risk.

🟠Grants are always a good option. Some donor agencies offer 100% grant funding while some require that you have some skin in the game and may go 70-30 for example. In this instance, they will cover 70% of the cost while you cover 30%. While there may be grants who will give you the funding before your project is complete, most are reimbursable, requiring that you cover the costs upfront then they subsequently reimburse you. Where this is the case, you can use the grant approval as collateral to get loans for the portion that the grant covers.

In order to benefit from grants, they are usually some stringent requirements such as business registration, filing of taxes, etc. The benefits are usually quite worth matching the requirements.

🔴The Creative Industry is a billion-dollar one. Many investors may want to get a slice of the pie that can give them a high rate of return on their investment. In return for a stake in your business, consider equity capital from an Angel Investor or Venture Capital firm. Your investor will be in it for the long term. If your business loses money, you don’t have to pay your investor anything. You also get the added benefit of mentorship and guidance from your investor who is likely to have years of entrepreneurial experience.

⚪️Then there is the concept of having several persons invest in your project via crowdfunding in return for small perks. If you have a unique project idea for your fashion business, getting several small donations from those with interests in your project is an option to consider. You can easily set up a campaign on Kickstarter, Go Fund Me, or other such platforms. This takes immense work. Success is possible if you are prepared to invest the time and effort into your plan and execute accordingly.

⚫️As another way of funding your startup, start brainstorming all the skills you currently have. Examine all the persons who may need such skills and identify someone whom you could approach to barter your service in return for well-needed funds.

The fashion industry is unique. It is driven by change and is constantly changing. It changes so much, we find trends revolving and re-surfacing again when we thought they died a natural death. The industry has several different parts making up the whole. The seamstresses, tailors, manufacturers, models, factory workers, forecasters, designers, pattern makers, sketch artists, embroiderers, store owners, etc. Any industry that has so many other components will surely have its fair share of individual prejudices, styles and tastes. It is important to determine and define your sense of style. Individual preferences aside, at all times, the wants, needs and desires of your customers will have to be anticipated. New advancement happens rapidly. Keeping up with trends from fashion forecasters will be necessary to determine colour, styles, accessories, textures, prints, etc. to stand out from the noise. The question of, ‘How do I turn my passion for fashion into a viable business can be daunting. Yet, with the right guidance, it is possible though not easy.

A fashion business can be extremely lucrative. After all, clothing is one of the basic physiological human needs according to Maslow’s Hierarchy of Needs. Amidst the glitz and glamour of the industry though, an entrepreneurial approach must be taken from the get-go in order to achieve any measure of success.

If you are listening to this podcast, you may have some desire to become a fashion entrepreneur, that’s awesome.

I will explore in more depth in coming chapters but here are some initial questions you must be prepared to answer very honestly:

• Do I really want to run a fashion business or is it that the idea of it seems alluring?
• Do I have access to the necessary funding?
• Do I have the skills that are required or am I able to identify partners to help me?
• What is unique about what I’m doing?

Even if your answers to the questions above are ‘no’, fret not! I’ve got you clothed (pun intended). Begin to see yourself running your awesome fashion business. Envision in your mind’s eye, your brand in stores across the world and on some well-known celebrities.

Have any questions? You can contact me through email (henekawatkisporter@gmail.com) or find me on Facebook, Twitter, Instagram, and LinkedIn. Thanks for listening! For more updates and episodes, visit my website. You may also tune in on Apple Podcasts, Google Podcasts, Stitcher, and Spotify.