8 Tips For Setting Goals For Your Fashion Business As A Fashion Entrepreneur
The year 2020 has been one like never before. It came and surprised us all in more ways than one and brought with it so many unexpected twists and turns in this journey of life.
While this year has passed in a blur for many, many others have learnt new things and built themselves up in different ways. Even the fashion industry has evolved to fit in this new normal way of life.
As a fashion entrepreneur, now that the first half of the year is over and the second half has begun, this might be a good time to go revisit your business goals and set new ones for the rest of the year. Here are some tips to help you set goals that will take your business to the next level;
Tips on Goal Setting for your Fashion Business
1. Set SMART Goals
Every goal you set, be it for your fashion business or your personal life as a fashion entrepreneur should be guided by the SMART rules. Setting SMART goals goes a long way in ensuring that whatever goals you have set come to reality.
SMART goals are:
- Specific: When setting goals, make sure that your goals are as specific as possible and not ambiguous or vague. State clearly the things you want to achieve in a given time frame and how you plan to achieve them. Don't just say, "I want to grow my business.", say, instead, something like, "I want to gain 50 new customers in the next one month by..."
- Measurable: For every goal you set, make sure there is a way to measure success or failure. Measurable goals are quantifiable goals. This means that you can say decide on a specific number of new clients you want your business to have over the next one month or maybe a specific number of outfits from your new fashion collection you want to have sold.
- Achievable: In setting goals, do not aim for something you know is not achievable at that time. Do not aim for impossible goals, aim for those that you know are actually achievable.
- Realistic: This goes hand in hand with achievable goals. Do not set goals that are unrealistic and unattainable. You should not set a goal that says, "I want to make N10,000,000 next month" when you have not been able to make that amount in one year.
- Time-Bound: For every goal you set make sure there is a deadline to it. Goals that have no deadline attached to them will most likely never be achieved. Set goals that are time-bound and create milestones for yourself.
2. Write it Down
It is not enough to set goals in your head or mind and then try to start working on them from there, you have to write them down. Writing your goals down clearly using either the old fashioned method - pen and paper - or using an online document will help you focus better on the goals.
What you have written down will serve as a reminder to you about your goals and will show you the clear cut route you have set to achieve the goals.
3. Allow Room for Adjustments
Goals should not be cast in stone. As you go along the way of achieving your goals, you will learn new things and it is okay to adjust the goals you have set based on what you have learnt.
4. Set Goals You Can Control
Setting goals that are completely dependent on other people will most likely lead to frustration and disappointments. We all know how unreliable people and be and even with the most reliable people, you cannot force them to do certain things that are in your interest.
Goals like "I will get every customer that patronises my fashion brand to buy at least 10 fashion items" are most likely to end in tears. While you can try to convince customers to buy more, the decision of whether or not they buy more than they intended to is totally up to them. Do not set goals you cannot control.
5. Dream Big
If you do not have big plans for business then you will most likely never leave your mark on the fashion industry. Sit down and think about what success in business looks like to you (and make it big) then write it down and set out ways to achieve them.
Set goals you think are too high to be achieved (without being unrealistic about it) then work towards it. If you fail, at least you would have ended up farther than you would have gone if you set small goals for yourself.
6. Share your Goals
Sharing your goals with friends, employees, family members, or even tour social media following will make you want to achieve them all the more. Sharing your goals makes you more accountable to others and gives room for them to check up on your progress with you.
By sharing your goals with others, you put a form of healthy pressure on yourself to achieve them and it makes you go the extra mile to make them happen.
7. Make Deliberate Efforts to Achieve your Goals
Now, you have dreamed big and outlined your goals like a pro, you have to make deliberate efforts to achieve them. Using the steps you have outlined for yourself get up and start working towards achieving your goal.
You cannot expect to get 100 new customers without upping the advertising of your fashion brand.
N.B: The steps you outline to achieve your goals should be small achievable steps that are not in any way overwhelming but that build up to achieve those great goals you have set for yourself.
8. Track your Progress
As you go along the way, keeping track of how you are doing in achieving your goals is important. After you have set your SMART goals, you should come back once in a while, maybe even weekly, to see how well you are doing in using the steps you have outlined to achieve your goals in the time frame you have set out for them.
Reward yourself for every milestone you reach to keep encouraging you to push ahead, after all, all work and no play makes Jack a dull boy.
All in all, in setting your goals and working towards achieving them, make sure you take care of yourself and your mental health and that you leave room for rest. Strive towards the goals you have set for your business, ignore the naysayers, and never give up. Your reward surely awaits you.