It’s time for me to properly introduce myself.
My name is Julia Antufjew. I am a fashion inventor and manufacturer.
For the past 15 years, I have been running high quality fashion manufacturing for more than 200 new designer labels, watching them succeed and fail.
Most new brands fail within the first year. Others follow by the year number four.
Those who survive, almost seem lucky. However, it has nothing to do with luck.
In this article, I am sharing with you the five types of fashion entrepreneurs. Three types fail inevitably. Type number four has potential to become type number five.
Type number five succeeds. Which type are you?
Before we go any further – I need your help. If you like my writing, please show your support 🙂 👇🙏
For the past 15 years I have been running high quality fashion manufacturing for more than 200 new designer labels, watching them belong to one of the four groups:
- Lazy Cats
- Crazy Cats
- Walking Dead
- Die Hards
- And Wild Cats
Let me explain what those four groups are all about.
Group #1: Lazy Cats
Lazy cats open their business and close it down in a matter of 3 to 12 months.
95% of new labels follow this scenario.
The reasons for closing down are mostly lack of commitment by business owners and cash flow deficiency.
Group #2: Crazy Cats
Crazy cats have tremendous commitment.
They are crazy creative and determined.
Their hard work and creative talent are rewarded with moments of major breakthrough, such as winning grants in designer competitions, being allowed to expose in the most prestigious fashion trade shows such as Tranoï, fashion boutiques interested in their collections.
It looks like they are succeeding. That’s up to the year number 4.
Unfortunately, by the year number 4 Crazy Cats burn through their capital and close down, all burned out and deeply in debt.
Reason: Chronic Cash Flow Deficiency.
2% of labels follow this scenario.
Group #3: Walking Dead
Walking Dead are business owners who have an on and off commitment.
For some time, they are very committed, followed by periods of total lack of commitment.
This group continues struggling year in year out beyond the 4-year period without any major breakthrough.
This group also suffers from Chronic Cash Flow Deficiency, with one important difference.
All Walking Dead either have a 9-5 or a life partner who is taking care of their primary needs for security, food and shelter.
2% of labels follow this scenario.
Group #4: Die Hards
Die Hards are Crazy Cats, who failed by the year number 4, but managed to continue, carrying a large debt.
They have exhausted their capital resources; no further loans are being approved.
What makes it possible for them to continue?
Tremendous commitment, alternative sources of income and/or a life partner who is taking care of their primary needs for security, food and shelter.
Now they are developing only one smaller collection in two years, instead of two full annual collections, without expensive trade shows, fashion weeks, showroom services, PR agencies and own store spaces.
They mostly restrict their distribution channel to an online store, trying to achieve new results by following heavily trimmed down but in essence the very same strategies that made them fail.
Intuitively they know, there is another way, that will help them rise as a phoenix. Not everyone has the mental strength to change. But those who do – become Wild Cats.
Group #5: The Wild Cats aka Cats that are fed
These are the ones who made it.
Wild cats succeed in a matter of 18 to 24 months from the start, purchase a new house, get married and give birth to a child, and then – go for even more growth.
1% of labels follows this scenario.
Do you want to know their secret to success? Do you want to know what Wild Cats do differently?
If yes, please show your support 🙂 👇🙏
Stay tuned for my next article, where I will tell you what exactly makes a fashion label succeed.
Wear your passion!
Julia Antufjew is a Fashion Inventor and Manufacturer, 15 years in business, Bestselling Author and driving force behind Manufacturing Club Quantumfactory, Founder of Fashion Business Mastermind™, the one and only mentorship program that helps you quit fear, get focused and streamline your fashion business.