Ep. 11 Why Competition is a Good Thing (Even When it Gives You a Panic Attack)
03/02/22 • 8 min
As someone who works with and mentors new entrepreneurs on a regular basis, I’m no stranger to panicked emails popping up in my inbox about the discovery of a competitor. As soon as we discover potential competition, our cortisol levels shoot through the roof and we imagine the worst-case scenario. In today’s episode, I’m talking about why competition is actually a good thing, even when it gives you a panic attack.
Resources mentioned in this episode:
The Lean Startup by Eric Ries
As someone who works with and mentors new entrepreneurs on a regular basis, I’m no stranger to panicked emails popping up in my inbox about the discovery of a competitor. As soon as we discover potential competition, our cortisol levels shoot through the roof and we imagine the worst-case scenario. In today’s episode, I’m talking about why competition is actually a good thing, even when it gives you a panic attack.
Resources mentioned in this episode:
The Lean Startup by Eric Ries
Previous Episode
Ep. 10 How to Source Sustainable Fabrics for Your Fashion Brand
I want you to start thinking about the supply chain for your fashion brand -- while the marketing, audience building and business planning elements of creating your brand are important (and fun), your supply chain is what needs to come together to create your physical product. I recommend prioritizing your fabric search right now -- no matter where you are in the process. And I’m going to help you do that in today’s episode.
Resources mentioned in this episode:
The Fabric Sourcing Kit: https://factory45.lpages.co/fabric-sourcing-kit-podcast/
Factory45, The Business School For Sustainable Fashion Entrepreneurs: https://factory45.co/
Ep. 06 6 6 Eco-Friendly Fabrics for Your Sustainable Fashion Brand: https://www.buzzsprout.com/1897327/9868907
Next Episode
Ep. 12 The 3 Essentials of a Successful Fashion Crowdfunding Campaign
One of my favorite ways for fashion startups to launch is by pre-selling. This means you’re selling your product before you create any inventory. It also means your customers are paying for the product upfront so you have money in the bank to pay for production. One of the most popular pre-selling platforms for fashion brands is Kickstarter. And it’s the 3 Must-Do’s for a successful Kickstarter campaign that we’re talking about today.
Resources mentioned in this episode:
Pre-Sales Goal Calculator: https://factory45.lpages.co/crowdfunding-freebie-podcast/
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