by martwayne | Dec 5, 2019 | Uncategorized
β£Itβs amazing to think we are almost at the end of a decade ?, and while 2020 always sounded like the distant future, itβs almost here. While it may be tempting to kick back, relax, and let things go during the festive season, use the end-of-year as an opportunity to take stock of whatβs happened during the past 12 months and make plans for the 12 to come.
From getting your finances in order to shaping up your staffing, here are some of the most important activities to do now if you want your fashion business to be ready for the New Year:
1. Run Your Financial Reports
By running your financial reports , you can get a better understanding of how your business is performing financially. Donβt have an accountant to help out with these tasks? Software programs like Intuit QuickBooks, FreshBooks, and Wave are great for that.
If you a completely clueless about accounting, numbers and figures, then you should take our Online Fashion Entrepreneurship Course which breaks it down in simple understandable terms. I have found that it is important to even have an idea of the numbers in the event whereby your accountant may not be knowledgable. I have had to argue some issues with some accountants I have tried to work with in the past. Thankfully I have an accounting background and I did ICAN so I was able to challenge some of their positions because their treatment of certain items were completely wrong.
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2. Consider Future Goals & Plan
Take a good, hard look at your accomplishments this year. If you arenβt meeting your goals, it might be time to reevaluate your business practices. Perhaps you did not make as much profit as you expected. Try to figure out why. Are you using up your cash flow to buy assets? Are too many people owing you money? What worked this year and what didn't? What do you plan to do differently next year? How do you plan to minimize cash flow? What lessons did you learn this year that will be detrimental to you next year? It is time to check out your strategy and work on a solid plan to meet your goals for 2020.
3. Get the Required Knowledge to Upgrade your Skills
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If you are lacking in certain areas or need to upgrade your knowledge and skills and improve your income, now is the time to secure all needed admissions and registrations against next year. Often times, we fail to invest in the knowledge we need to move our businesses forward and end up paying for it in other ways. When you calculate the opportunity costs, you are better off paying for that Course now than after you have lost so much money. Investing in that knowledge also ensures that you put the rights things in place to earn a higher income or save on costs.
4. Sit Down with Your Team
As the current year winds down, schedule some time to speak to your team members one on one. Inform them about areas they need to improve, let them know what theyβre doing well and encourage them to keep it up in the New Year. It is also important to ask them what they think worked and what did not. It might also be time to make some harsh decisions and shut down certain departments that are gulping up your profit. Or let go of those people who are causing the business more harm than good.
5. Work on your online presence
Now is a good time to review your digital strategy, so take some time to look at your engagement statistics and start brainstorming some ideas to improve your numbers. Monitor your analytics closely. Know what works and what does not work. Most digital marketers only focus on driving traffic to the site but if it hurts your bounce rate, then you are better off not running as many ads. And if the traffic does not result into a conversion, it also becomes pointless. Truth be told, it does take a while before the results from digital marketing are seen but keep at it and watch your metrics carefully. And more importantly find someone who knows what they are doing. It goes beyond just running social media ads.
6. Take a Much-Needed Break
As a business owner, you must aim to take a little time for yourself. Plan a few days away from it all when you can relax and recharge. If you donβt take care of yourself, who will? ? I know it's hard and we are all quilty but one of the most important plans for next year is that break from it all. The life expectancy rate is reducing and you need to ask yourself if it is all worth it if you end up spending it all on drugs. stress wrecks a lot of havoc on the system so when your body calls for it, take that break!β
2020 would be a turning point for many fashion brands, and to be a part of those itβs essential you get started now. Remember the planning starts today not in January. If you fail to plan, you plan to fail! Get that vision board out, get your budgets done, get the much needed rest and enjoy the holidays so you can start the year off with a bang!
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About Me
A fashion entrepreneur passionate giving power through fashion
by sharing knowledge guaranteed to help fashion lovers
turn their love for fashion into a viable business.
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by martwayne | Dec 2, 2019 | Uncategorized
I saw this quote this morning and felt a bit justified by the lack of sleep I have had this past week. I’ve been up since 4am (nothing to brag about). My body aches and I need to rest but I know now is the time to plan for the New Year.
It’s December and people are pretty much on shut down mode. Everything is on hold till 2020. And the same cycle continues every year. The same resolutions which ends up getting broken by the end of January. Why? Because the planning was left till the New Year!
As an entrepreneur, now is not the time to shut down. If you want 2020 to be even better than 2019, NOW is the time to work even harder! Do not procrastinate. By all means look forward to the holidays. Slow down but don’t shut down. Plan for the tomorrow you want today!
Have a great week all.
by martwayne | Oct 6, 2019 | Uncategorized
So we had a good business session LIVE on Instagram on finding customers with business development expert @nedum_e . In the video, he mentioned terms like product market fit, customer journey, functional and emotional need, etc - things I had heard about but never really thought about. Things every business person needs to know about in order to increase sales. Sorry I didn't have time to create a flyer or send a broadcast but if you missed it, you can check out the video again by clicking this link.
Finding Customers & Increasing Revenue
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The next video with Chinedum continues next Thursday at 9pm. If you need to increase your revenue, you don't want to miss it!
About Me
Tope Williams-Adewunmi
I am passionate giving power through fashion by sharing knowledge guaranteed to help fashion lovers turn their love for fashion into a viable business.
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by martwayne | Sep 4, 2019 | pdf ebooks
About 2 weeks ago, I found out on Facebook that a guy I knew had committed suicide. I was heartbroken! This was a guy at the top of his game, one of the best people I know who was great at his job but alas fell on bad times. I can't honestly say I knew much about what he was going through but when I bumped into him at Shoprite a few years ago he told me his wife left him because business wasn't booming. According to him, she was following her friends' advice but well what could he do? Things will turn around he said... and he went his merry way. He seemed like such a happy go lucky guy so imagine my shock when I found out he just could not take it anymore.
Then my mind went to some random message I got in my Whatsapp inbox close to the end of last year.
I was at a loss for words to be honest. I was also going through a tough time that I had no words for her. I just ask to ask my Instagram audience to say a word of encouragement for the lady and she read through every comment. So I decided to compile the comments into an e-book, hoping to encourage someone out there who may be going through a tough time. Hope it helps you as much as it helped me and this lady.
βKindness is the language which the deaf can hear and the blind can see.β
The Problem:
Many people go through issues on a daily basis and with the tough economy, it is really easy to reach that breaking point.
I remember just yesterday I read a lady's story in a Group. She had bought the ropes and tied the noose. A conversation between 2 people walking past her window stopped her. She overheard one of the guys say "trust God nah" and that really struck. She moved to a new city and within a day she got a job. She ended the post by asking how she would have missed the good life she had now if she had ended it all then.
It is tough to continue when all you want to do is cry yourself to sleep or give up but please give it one more or two more or three more tries. and even if you fail, never give up. We've all gone through tough situations and somehow we managed to keep on keeping on.
In Mary Mary's words:
"I just can't give up now. I've come too far from where I started from.
Nobody told me the road would be easy
And I don't believe He's brought me this far to leave me".
βSuccess consists of going from failure to failure without loss of enthusiasm.β
Interestingly enough, I have a friend who has this event in Lagos called "Fuck Up Nights" (excuse my language) but that really is what it is called. She invites business leaders to come and talk about their failures. so see... everyone has gone through it. Not just you!
We all go through it. Times when we feel inadequate. Times when we feel our effort is not good enough. Times when you know you are good but your bank account tells you otherwise. Never be swayed when you see people who seem to be doing better than you on social media. it is all packaging! When you feel so unsure of yourself, just reach out to someone to talk. It is better than keeping it all in. We all have 1 life to live. There is always a way out!
So what do you do when you feel like a failure?
Suicide is real and with social media, many of us are becoming more aware of this problem. Please please please if at any time you feel stuck, depressed and alone, please reach out to someone, even if it is a stranger. Whatever it is you're going through is not as bad as you think. A million people are also going through it.
In the meantime, you can download this book. Trust me the comments really really helped, not just her but me as well.
Download the FREE PDF Now
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Tope Williams-Adewunmi
A fashion entrepreneur passionate about helping people turn their passion to profit. Check out the home page for more of our business tools, online and offline fashion courses and PDF books.
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by martwayne | Sep 27, 2018 | @martwayne, Blog, Blog Posts
??????? #testimonial #Thursday!!!Β
And posts like this just make the hard work worth it! Thank you so much @giselamonde our own fabulous doctor! I honestly miss your set! You all brought a lot of life to this place! #martwaynestudentsrock . .Β
@Regran_ed from @giselamonde – It all started with a Dream and a burning desire to do more, be bigger and better…? . .Β
Then I chased my dreams like a mad man let loose ?… .
– Did I feel pain? Yes.
– Did I lose sleep? Yes.
– Was I frustrated? Very much so.
– Did I give up? I was tempted to on several occasions but I never did, all I saw was my goal, so I pushed even harder? . .
I literally burnt candles, even became almost a recluse. Iβm glad I never gave up. I believed in me. Still do. . .
Am I where I want to be yet? No. Iβm still work-in-progress. Thank you to @martwayne @topewilliams for being a huge part of my success story, fantastic Fashion school and teacher! Will forever be grateful to you. ?? . .
And these friends of mine mean a lot to me because they too like me burnt candles, together!Β
@liberteclothiersΒ @perlesignature @toluaje_apparel @amamariona @significantvanity @tshbytonia @orem77us and a few others. I love you guys. . .
#martwayne #powerthroughfashion #fashion #passion #fashiondesign #instablog #Pinterest #LinkedIn #designer #fashionable #fashionaddict #fashionblog #fashiondiaries #fashiongram #fashionpost #fashionstyle #streetfashion #streetwear #style #styleblogger #stylish #trend #trendy – #regrann via Instagram https://ift.tt/2NGK6fH September 27, 2018 at 12:49PM
