5 Ways to Make More Money from Your Sewing Hobby

by martwayne | Sep 21, 2022 | Business of Fashion, Fashion Beyond Stitches, Fashion Business

After spending well over a decade working with fashion designers to start or grow their businesses, I have since realized that many people who have that passion for sewing do not fully appreciate how much massive demand there is for their skill.

For many, it is all about sewing and selling the end product. You love the craft, it's your passion, you make a garment or perhaps an apron, you offer it for sale to an end user, perhaps on your own online website or on Etsy. And sure enough, you are making sales.

For others, it is about knowing how to sew and then teaching others how to sew. Which is fantastic. I also have online sewing and pattern drafting courses so I would never say that is a bad idea at all. It has made me a pretty decent amount of money!

However, in a highly competitive industry such as the fashion industry, targeting only end users is you leaving lots of money on the table!

Stop throwing money in the bin!

I'll give you 2 examples!

Example 1: Garment Production Consulting

Earlier today, I received an email from a popular ladieswear clothing brand. The company's request? They believed I could help them reduce inefficiencies in their garment production process and help the brand scale better. And I definitely can!

Here is an extract of the email.

Why was I the perfect person to approach? Probably for the following reasons:

1. I wrote a book titled 'How to Start a Clothing Factory' - of which I had sold well over a thousand copies. My reviews of the book speak for themselves and how struggling fashion businesses turned their businesses around.

2. I was able to write this book because I had run a Clothing Factory producing clothing for fashion designers, mostly professionals such as bankers with full time jobs who wanted to start their own clothing lines and sell to their colleagues. So I thoroughly understood the garment production process from start to finish.

You can get the book at this link. The book was targeted at a different region but the principles are applicable anywhere as it teaches the basic structure you need to have in place. I am in New York and I constantly mentor fashion designers and full time professionals looking to start clothing lines on the side searching for manufacturing companies to produce for them in small quantities.

3. I put my Fashion Design degree, accounting background and research skills to good use. I went beyond mere garment construction to fully understanding the importance of each step in the process, its relevance in the fashion industry ecosystem and value chain and how each step can be sold as a separate product or service.

So simply put, I transformed the sewing skills, which I learnt in Fashion School, into something much more than just sewing and it didn't affect any other thing I did.

Extract of Martwayne Proposal for Facemask Production

Example 2: Facemask Production

During the pandemic, because I already ran a Clothing Factory, I got requests from not only individuals who needed facemasks but also companies who needed face masks.

Because I already had a system in place, I made tens of thousands of facemasks, some orders which I completed in less than a week. It was like clockwork! And the best part is, it did not affect me selling masks directly to my customers as well.

Why am I telling you all this?

If only you knew just how much money you can make from your sewing hobby, you would leverage on what you normally do without thinking and what you already enjoy doing and monetize each of the steps in your current process to make more money.

That way, you are not only dependent on end users buying your products, you are also targeting other fashion businesses (who have more money to spend).

I can safely tell you that as a fashion business mentor, I have mentored LOTS of fashion designers who have no idea where to get their patterns made, much less getting their samples created on time for mass production.

In fact, one person I currently mentor has had her sample destroyed 3 times at her own expense. And some patterns for other designers have cost more than $1,000.

Being relatively new to New York, I had no idea patterns cost that much at all! Patterns you can probably get done in a day, get paid and move on with your work!

So now, without going into the nitty gritty, let me dissect your sewing skill and highlight 5 ways you can make more money from your sewing hobby - still doing what you love, increasing your profits, reducing your stress levels looking for customers and running the business of your dreams.

Because I tell you, these B2B customers will find you if you position your business properly. They desperately need your services because the survival of their businesses and clothing brands depend on it!

5 Ways to Make More Money from Your Sewing Skills

I stumbled on a clothing factory in the New York Fashion District when I went searching for a sewing space rental near me (long story for another day). Anyway, on chatting with the staff, I was told I had to bring my pattern, bring my sample for them to create their own sample, get my patterns graded myself and get my fabrics. All they did was the mass production.

I was surprised! With the exception of sourcing for fabrics for the customers of the Clothing Factory, I did everything else for the designers. Even when I produced my own clothing line in China, they did all the work - including sourcing for fabrics. Only then did I fully understand the challenges the designers I mentored in New York were also facing.

Perhaps my experience was a one off but that got me thinking. Why are sewing enthusiasts not targeting other designers and offering them these same services?

So as an advanced sewer, let's look at the typical steps in the garment production process:

1. Create a design

2. Choose a size chart or take body measurements

3. Draft a pattern

4. Create a sample / toile

5. Adjust and grade the pattern

6. We can add sourcing for fabrics (if you really enjoy fabric buying).

There are other areas in the garment production process such as creation of fashion illustrations, technical flats and tech packs / spec sheets which you can also make money from but those are outside the core of your sewing skills and may be a bit complicated so I'll just leave it at the first 5.

These 5 steps are services that you can offer other designers or aspiring fashion designers looking to start their own clothing brands and it does not affect your ability to still produce your own clothes for your end users.

Create designs for sale

Of course to make anything at all, you have to start with a design. There are designers out there looking for designs to buy for their lines. Some people just want to sell clothes so why not create some designs or a catalogue so you can sell your designs to them. I know I have bought many designs in the past just more my library.

Create size charts

You might think 'why can't they just get that from a website or a pattern book'. After operating in the fashion industry for years, I can safely tell you that size charts are not always accurate - especially if you have a client that has a unique body shape and is creating a clothing brand for people just like them.

This is one of the biggest headaches for new fashion businesses and since you have been sewing for years, you can bring your wealth of experience to the table. When clients sent me size charts from websites, just one look at the charts and I could instantly tell if it would work for them or not.

Most times it didn't and I would work with them to build their own charts from scratch. I have created size charts for plus sizes, 'petite' sizes, 'taille' sizes, apple shaped bodies, pear shaped bodies, etc. I never charged for it because I was more focused on production but it is something you can charge for and the clients are willing to pay for as well.

Draft a pattern

This one's easy. You need a pattern to create the clothes right? Especially for mass production. The pattern really is the garment on paper. If you are an expert in pattern drafting, this will be your biggest cash cow! You can either create the patterns for their design or simply sell the patterns for the designs they bought off you.

As an advanced sewer, the assumption is that you can create patterns from scratch and alter patterns. This might not be the case if you only work with ready made sewing patterns. However, learning how to create patterns is really easy.

In fact, I have an online pattern drafting course that teaches the principles behind altering your block patterns into so many different styles. Once you understand the principles, you can pretty much create anything.

This is one major need out there so I suggest you hone your skills in pattern drafting so you can take full advantage of the skill. I will drop the link to my online pattern drafting course once I am done switching my LMS!

Create a sample

Of course you sew already. And if you created the pattern, then you already know how to sew it. So why not offer a sample / toile production service to fashion brands? You are already doing what you love doing anyway so why not charge for the service? They probably would not complain as much as end users will and if you do a great job, they'll keep coming back!

Adjust & Grade the Pattern

This is probably the easiest of the lot. And you can make a lot of money from it. And the best part is - you don't even have to be the one to create the original pattern. Once the pattern has been certified ok, all you need to do is grade it - either manually or digitally and send it off to them. Easy peasy!

Phew! I have written quite a bit for you to digest! Hope it has helped you to see the full potential of your skill and a hobby. For me, if you can make even more money doing what you already do - in a fraction of the time, then why not?!

There are people out there who desperately need your services so why not meet them at their point of need! Trust me, from experience, it is well worth it!

If you have questions on any of the ideas I gave, do drop them in the comments section and I will be happy to shed more light on how you can go about it!

Cheers!

Why Businesses Fail

by martwayne | May 30, 2022 | Business of Fashion, Fashion Beyond Stitches, Fashion Business

Why do businesses fail? They run out of cash! It's just that simple!

Of course there are other reasons like bad management, not researching the competition, not having a plan, not pricing properly, etc. but really, it all culminates into one major result.

If you have bad management, chances are there will be an improper use or channelling of funds or losing good people which can turn into huge hiring costs on training new staff.
Not researching the competition will probably result in your business losing customers to the competition - so no inflow of funds.
Not having a plan - massive recipe for disaster because without a plan or a budget, you will have nothing to guide you.
Not pricing properly, - goodness, that is another story for another day!

The summary of all this is when you have negative cash flow because you are spending more than you are earning, you will run out of cash and the business will fail!

If you're at the point where your business is on life support, well first - take a deep breath! We've all been there and you will get out of it! You just have to know what to do so you can retrace your steps!

So let's start from the very beginning to understand the real reasons for cash flow problems and what you can do about it.

No matter how good your business plan is or how talented your team is, things can always go wrong. No business is immune to failure, but by understanding the most common reasons why businesses fail, you can take steps to protect your small business.

One of the most common reasons businesses fail, like we said earlier, is due to cash flow problems. Not having enough money to cover your expenses is a sure-fire way to go under, and it can happen to even the most well-run companies.

Cash flow problems can stem from a number of different issues, such as not bringing in enough revenue to cover expenses, not being able to get paid on time by customers, or having to make large capital investments upfront or spending money on the wrong things!

In my free book, 7 Mistakes to Avoid as an Entrepreneur this was my Mistake No 4! Classic reason on why businesses fail. So let's focus on 'spending money on the wrong things for a bit! I wish I really understood years ago when I started my business - watch your costs like a hawk!

While it's obviously hard to build something new without the resources to do so, spending money to make money only works if you are spending on the right things. Whatever you do, do not fall victim of unnecessary spending!

Getting a space when you don't need to or can't even afford it , buying expensive machines without knowing where business will come from or premature hiring will all leave you crying premium tears. Save as much as you can in the early days till your businesses is strong enough to get to the next level.

So ask yourself these questions:

Getting an Office Space:

Do you really need that office? You do know it won't end with just the space right? You need to renovate, furnish and do some nice interior decor. And then add the extra electricity, utility and maintenance bills and it does rack up pretty quickly.

At this point, how exactly will this new office generate income? You might feel you need a professional space to meet with your clients but how about using a virtual office in the early days? Or go out to meet the customer? Or work from a hub?

If you are a fashion designer who needs a production space, there are sewing hubs you can use in the early days to save yourself the huge expense of renting a place. Or you can work from home and meet your client in their space. It probably is financially wise to start with that.

Of course, if you are financially capable of getting a space, please go for it.

Getting expensive tools:

Do you really need those machines? Or that printer? Far too many small business owners buy things they don’t necessarily need. They either buy tools they don’t need, or buy tools that are bloated with features they don’t use and may never use.

Better to purchase something that would suit a business of your size as long as it saves you a fair amount of money while being equally as effective.

Which brings me to another point. Try purchasing things that give the reasonable amount of benefit at that point in time with minimal cost - and which are directly related to revenue generation.

For example, you might want to use the free version of things and only upgrade when you have the stream of revenue to justify your upgrade or if you need some additional features that are important to your business.

Premature Hiring:

Mistake No 3 that I highlighted in my free ebook, 7 Mistakes to Avoid as an Entrepreneur. Like I said - been there, done that! It might seem tempting but don't hire until you absolutely have to. And the person you hire must either be able to increase revenue or reduce costs.

Do you really need that PA to run those personal errands? I remember when I first started, I felt I needed that driver because I could not cope with the traffic. Well, turned out, I didn't really need him after all. I didn't move around often. After he left, I didn't get another driver. Turns out I just wasted all that money in the early days.

If you don’t need it, then don’t do it. Hiring people too quickly makes you burn cash faster than you need to. In fact, staff costs tend to be the highest expense of a company. Yes the temptation to get a sales and marketing team to boost revenue might be high, but if you can outsource it or get someone part-time, better for you.

Put into consideration which is more cost effective for you before you make a full-time hire. Don’t hire a full-time staff when you don’t have a full-time job for them.

Premature Scaling:

Lastly, do not scale prematurely. Let's put it simply using the earlier example. Do not go paying for office space before you have employees to fill it. Start small and grow gradually. It can't be perfect from Day 1 so take your time and enjoy your growth process.

And these are just a few. So now, let's talk about some other solutions that can help you tackle your cash flow problems!

Know your real costs

Costs can be categorized as either fixed costs or variable costs. Fixed costs are those that do not change with the level of production, for example rent. Variable costs are those that vary directly with the level of production, for instance raw materials. Knowing true costs is critical to business success and will help you better understand your break-even point and where you need to cut back to make a profit.

'Get personal'

Get personal. How much money do you need to live on? Are you taking more out of the business than it can afford? One easy way to check is to compare your business with others in your industry. You can use the ATO benchmarking tool, which compares businesses of similar size and industry. It can help you identify whether your costs are higher or lower than other businesses. If you're paying yourself too much, consider cutting back and investing those savings into marketing or a new product line. Also consider that your lifestyle may need to change as a start-up founder in order for your business to succeed.

Work with others

When you're running a business, it's important to keep tabs on your money. You should know where it's coming from and where it's going. The easiest way to do this, first things first, is by hiring a bookkeeper or accountant to help you out. This person can keep track of all your transactions and advise you when things look skewed.

You may think you can handle the accounting all on your own, but the truth is that others are often better at noticing patterns than we are; an outsider who isn't as close to the flow of money in and out will be helpful in spotting missteps before they become disasters.

Plus, doing this work yourself takes away from more productive tasks that only you can do (like running a meeting). By outsourcing some of these time-consuming jobs to a trusted partner, you'll be able to focus better and achieve more...Next up: be strong with decision making

Understand your cash flow

Cash flow is the money that flows in and out of your business. It's different from profit, which is the difference between what you spend and what you earn. Cash flow can be positive (there's more cash coming in than going out), or negative (more cash going out than coming in).

To stay on top of your cash flow, understand how much cash you need to run your business, how much cash is coming into your business and what will affect this amount. Having an understanding of these three things will help you forecast the state of your finances at any given time during the year.

This is important because it allows you to make adjustments before there are problems with paying bills. For example: if sales are down for a particular month, this may mean less money being collected from customers for products sold that month. If there isn't enough money coming into the business to cover expenses like rent or payroll, this could cause serious financial issues for your business. Understanding when sales are expected to go up and down can help avoid these issues by allowing you time to plan ahead accordingly.

Lean on your suppliers

Don't be afraid to ask for price breaks when you first start out. Most suppliers are willing to help new businesses get off the ground by offering discounts or payment options, and they understand that strong relationships lead to long-term growth for everyone involved. Never be shy when it comes to money matters. All you need to do is ask! The worst response you can get is a No. BUT you can also get a Yes so why not ask anyway?

Have a plan B (... and C)

No matter how much you've planned ahead, there's always a chance that something might go wrong with your project. A natural disaster could come through, and knock out power to your business. Or maybe you arrive at work one morning to find that someone has broken into your store, stolen all of your cash registers and set the place on fire. Yes, these are extreme examples, but they actually happened to real businesses in the past year.

The point is: it's smart to plan for the unexpected. Make sure that everyone involved in your business has a backup plan for when things don't go according to plan – and make sure that if you haven't already done so, you have a backup plan for your personal finances as well. After all: if you're going down with the ship, make sure it goes down as comfortably as possible!

In summary:

Understanding your cost structure is vital to your success as a small business owner as it is essential in determining the price at which you sell your product or service. It can also help ensure that you earn a profit and don't inadvertently price yourself out of the market.

Understanding your cost structure is also important when making decisions about the future, such as whether to expand your business. For example, if you decide to open a second location, having information about how much rent costs will allow you to estimate potential rental costs for this second location. Knowing how many employees and what type of equipment is needed per location will help determine employee and equipment costs for the new location. By understanding all these factors, you will be able to make an informed decision regarding whether expansion is a good idea.

In addition, knowing your cost structure enables you to negotiate with suppliers more effectively. For example, if there are several suppliers that offer similar products or services at different prices and all other things are equal (e.g., quality), then cost becomes an important factor when choosing who to buy from. If one supplier's prices are consistently lower than another's but each has offered essentially the same quality products or services for years, it makes sense for you to choose the less expensive option over time because it keeps more money in your pocket so that it could be reinvested into growing or maintaining your business as opposed to being spent on expenses!

Above all, remember that mistakes are not failures! They are teachers, information, guide posts and opportunities. It is best to avoid cash flow problems but when mistakes do happen, don't beat yourself off over it. If your business does shut down, at least now you know what not to do in your next business venture. Dust yourself off, learn from your mistakes and trust me, you will do better next time.

If you have hit roadblocks, you should get this free ebook. It highlights 3 specific and common mistakes that lead to business cash flow problems and what you specifically need to do to fix it!

You can download your free copy here.

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HOW TO CREATE YOUR BUYER PERSONA

by martwayne | Jun 29, 2021 | Business of Fashion, Fashion

4 Important Sources You Need To Create

Your Buyer Persona

Now that you know what a customer persona is, what you need to include, now let’s talk about how you can get the information you need.

Fashion is very dynamic and consumers are definitely using more clothes for a less period of time, Why you may ask?

Simply because they have more options!!! And are more informed, so if they don’t feel a brand connects with them, they just find another! So you want to start your research from your customers.

You could consider;

Surveys
Interviews
Digital Channel Analytics
Sales Data
Customer Reviews/ Feedbacks

Now let’s discuss 4 of these sources

#1 Surveys :

If for instance, you are trying to introduce a new service or modify your branding, policies, etc sending a survey to people in your database will help you know the opinion of your audience even before you embark on the project.

These could give you insights into how to go about the project when to launch the new concept or even place it on hold.

Gap Inc. for instance introduced a new logo in 2010, only to receive some backlash from the consumers and within one week, the logo was pulled down.

Perhaps if Gap Inc. had conducted a survey, the money spent on re-branding could have been invested into something more profitable.

#2 Interviews:

Conduct an interview with people who will be willing to give you insights into the questions discussed in (this article). Such people may include; Your existing customers, old customers, as well as people you suspect might be your customer.

Doing this will be accurate and help you to truly know your audience.

#3 Digital Channel Analytics:

Virtually all digital channels have analytics in them, which can enable you to study what is happening on your website. Google Analytics, for instance, can show your the following details:

Demographics Overview
Age range to target
Gender with the most and least conversion
Age/ Gender and Interests
Device /network
Location
New / Regular users
Keywords and pages the user interacts with
Source of the user

In some cases, you can get real-time data such as the actions performed by the user while online. Eg scrolls, clicks, etc.

Hence, studying your analytics can help you know who you are targeting. Is it different from the audience in your sales data? Or perhaps your survey forms say otherwise. Then you can reposition your brand appropriately.

#4 Customer Reviews/ Feedback:

Here is another inexpensive way to get information from your audience. From your reviews, you can get the following information.

Who they are
Their interests
Expectations
Frustrations
The reason they have decided to be loyal to you.

On a final note, remember the purpose of this is to know who your ideal customers are, where to find them, and the appropriate content to provide for them at each stage of the Buyer’s journey. This, therefore, implies that you need to avoid making decisions based on guesses as much as possible.

Enjoyed reading this article? Check out more articles from our blog.

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10 STRATEGIES TO BOOST SALES ONLINE

by martwayne | Jun 23, 2021 | Fashion, Fashion Business Promotion

Online Marketing Strategies For Small Business

Have you watched episode 13 of Business Webinar by Martwayne? If you haven’t, then CLICK HERE. Today’s article is a continuation of the “HOW TO INCREASE SALES ONLINE”. Here I shared 10 strategies to boost online sales, especially as a small business owner.

But before we fully dive in, What is online marketing?

“It is simply the practice of leveraging web-based /digital channels to promote a brand’s products to its ideal target audience”

Such channels may include; social media platforms, emails, an optimized website, digital advertisement (Facebook ads, Twitter ads, google ads, e.t.c). Online marketing in the Fashion business, if done appropriately, can help brands position their products in front of their ideal target audience, at the right time and in the best way.

Therefore, working with a marketing strategy will ensure the effectiveness of the online marketing tools adopted by a brand.

So, let’s get to it.

Here are 10 online strategies you can adopt in your

Fashion Business.

1. BUILD A BUYER PERSONA

Build a Bio persona to boost online sales

Without a clear picture of who your target market is, there is no way to accurately answer the WHO, WHAT, and HOW i.e Who needs your product, what problems do they have? And how you will solve it. Thus, you need to go beyond describing your target market as a working-class mum that loves to look classy. No that is not enough. You need to consider demographics, behavior, objectives, and goals.

This will help you write the appropriate sales copy that will make them convert to customers.

2. STYLE GUIDE

Creating a style guide in your social media platforms, blog posts and even emails is a good way to engage your audience. This will enable them to understand how to combine your clothes and also consider buying an extra depending on how creative your style guide is.

Tik-Tok videos, for instance, go viral easily on Instagram provided it is creative and engaging. A short fashion film is also another way to communicate with a fashion guide.

3. SEO SALES COPY AND CONTENTS

If you haven’t been thinking about ranking on Google, then now is the best time to start doing that. Check out this article on SEO ranking factors by Optinmaster . One of the best ways your target audience will know you exist is via google search. Hence the reason to ensure your website is fully optimized.

You need to spend some quality time doing your keyword research, understanding what your customers are searching the web for and how you can appear during their search. You should consider incorporating your keywords in your about page, blog posts, landing pages, sales copy, ads, product description page, etc.

This will ensure consistency in the message your brand is communicating.

4. NEVER LOSE FOCUS OF YOUR BRAND’S VALUE PROPOSITION

An average customer does not intend to stay beyond 15 seconds on an ad without a clear, concise, and complete message. So you want to ensure in your ads, you communicate your brand value proposition as clearly as possible.

Don’t just rub the features your products have on their faces, what will it do for them? How will it solve their problem? Adding a video with a clear brand message is another way to engage with your audience. A good understanding of your buyer’s journey will also guide you on what contents to create and how to pass your message across effectively.

retargeting helps to increase online sales

5. RETARGETING CUSTOMERS/ CAMPAIGNS

Another interesting strategy that can help increase your conversion rate is retargeting. It helps you reach the users that have interacted with your website but that does not take action right away.

When a user interacts with your site and then leaves without converting, with the help of a code (pixels), your ads can be shown to the user when next he/she comes online. Make efforts to engage with your customers (IG highlights, Q & A session, poll, give away)

It is not enough to acquire customers, you also have to find a way to retain them. Thus, you need to keep them engaged and also looking forward to your content. Engaging in Q& A sections, polls, give -away, etc are suggestions on how to engage with your audience

Moreso, your mail list comes in handy here, because you can send personalized emails, update them on a sales offer, a snippet of what is coming next, etc.

Okay before I share the next 5 strategies, which of the strategies discussed above would you start with?

Share with us in the comment section and then CLICK HERE to continue reading…

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TARGET AUDIENCE : When to Consider Changing Your Target Audience

by martwayne | Apr 2, 2021 | Business of Fashion, Fashion

In as much as choosing a target audience for your business is not always easy, there are times when you will need to re-evaluate your business. The truth is that nothing is really constant, not even your market. The fact that a certain demographic was earning a particular figure 5 years ago, does not mean the money will still have the same value neither does it mean their needs can’t change.

More so, with the advent of the Covid-19 pandemic, consumers are being challenged to evaluate their priorities which has ultimately led to new needs and spending criteria.

Some common reasons why you may need to change your target audience are discussed below :⠀⠀

1. When the target audience is too small -if your target audience is too small, you won’t be profitable, it should be big enough to generate profit.

2. When the target audience is too big – When you’re trying to speak to everyone, you will end up reaching no one. Narrow it down to the relevant people but don’t make it too slim.

3. No buying power: Your customers need to have a buying power that can afford your products. If they don’t have enough money to buy your products, then they’re not the right target for your business.

4. Expansion: Sometimes with new innovations and market needs, you’ll discover other opportunities. Such opportunities might lead to an expansion and massive growth. Hence, the need to evaluate who your customers are.

For instance, some Fashion Brands and Garment production Houses have leveraged the covid-19 pandemic to increase the production and sales of nose masks and medical scrubs. Such opportunities come with expansion and a new marketing strategy. Consequently, the need to change their market.

With the evolution of the market as well as the business environment, changing your product consumers can be very useful.

Peradventure you made some wrong generalizations at the start of your business and you see a need to change your target audience, do not hesitate to do so.⠀If bigger companies have been able to do this successfully, so can you.⠀

Do you think it’s necessary for your business to change its target audience? ⠀

Let’s discuss….⠀

RECOMMENDED RESOURCES:

5 Mistakes to Avoid When Starting a Business

How to Spot Business Opportunities

3 Things You need to know

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