Business of Fall Fashion 2015

and their specific needs as consumers.
The third step is practical but
advantageous—document! When you
take on jobs, volunteer positions, or join
programs, document your experiences
for your resume and request letters of
acknowledgement at the time that you’re
participating, rather than waiting until
you need to scramble to collect the data
and references for a potential job.
Getting the most out of your schooling
and the extracurricular programs you
join is all about diversity and keeping an
open mind. Allen supports the Jack-ofall-trades
approach: “Most of the fashion
schools offer a broad curriculum—
embrace the exposure to marketing,
merchandising, event planning,
styling, photography, fashion law—it
is a vast industry, and the options and
opportunities are almost endless.”
Keeping your eyes open for new
experiences and keeping your mind
open to possibilities could be the
determining factor in finding the career
that you’re most passionate about in the
long run.
What should you keep in mind when
you’re considering a career in fashion?
“The business of the fashion business is
business.” These words ring especially
true when you consider the number of
companies that fail due to poor planning
or management, and how the titans of
fashion rise and continue to prosper
through clever marketing, excellent
customer engagement, and thriving
business models.
In Allen’s experience, the essentials that
you must keep in mind when you’re
building a business are: “Marketing,
accounting, branding, fashion law, and
social media. Having a solid business plan, a nimble marketing plan, and a far-reaching social media plan make up the
roadmap to building a solid, profitable business, or being able to make money at what you love the best.”
Does this mean that you need to be the founder, the business head, and the chief marketing officer of your business?
Absolutely not. Running an effective company is about developing a core team and learning how to manage your time
and delegate responsibilities. You need to play to your strengths and focus on what you’re passionate about; in order
to do that, you need to hand over the reins on other aspects of your business. Allen reminds us that “business owners
cannot do everything.” And, truthfully, they shouldn’t. They should find specialists, cultivate talented up-and-comers,
and surround themselves with a skilled team with the right outlook, goals, and attitude.
So you’ve survived school and you’ve created a business concept that you want to devote your resources towards
achieving—how do you make that business a success?
Fashion, like most industries in this day in age, is about understanding your clients. Today’s consumers aren’t the same
as they were five or 10 years ago. Websites, social media platforms, and mobile shopping capabilities are important
for creating a profitable business and reaching your desired clientele. Allen reinforces the importance of embracing
56 | Business of Fall Fashion Issue | Fashion Xchange Magazine