Growth Tip: Outsource to Grow Your Fashion Business
As a fashion business owner you might find out you are being less productive because you’ve gotten to that point where, there’s just not enough hours in the day to get things done. As you take on new clients or new responsibilities and have new products that you’re launching, you get to a point where you’re overwhelmed and you can no longer manage everything. At this point you should consider outsourcing.
Why You Need to Outsource
“he more operational you are, the poorer you become”
Deji Agboade, Growth Lab
Being too operational stops you from focusing on what matters the most, strategy, deep thinking and networking to grow your fashion business. You are constantly overworked, tired and too grumpy to think of better ways to grow the business. And worse, you end up losing so much money in reality than you think you are saving.
Outsourcing your work can help your business save money, assign specific work to specialists, save time, and expand your offering.
It is important to think about the opportunity costs of taking on certain tasks. Time is your greatest asset. As Warren Buffet said, ‘As rich as I am, the only thing I cannot buy back is time’. So you need to think about how to save time as much as possible.
For example, you might think you are saving money by going fabric shopping yourself. But are the cost savings really worth it? You spend hours in traffic getting there, spend hours walking around the fabric stores and then you spend another set of hours getting back. You are tired, you are probably frustrated and all you want to do is sleep to recoup that lost energy.
However if you engage the services of a fabric shopper, they take on all that task including the traffic, the walking around and the haggling of prices. S/he will charge for the service but it will leave you to focus on the core of your business, think clearly and make even more money.
What Can You Outsource
In addition to the above example, you can outsource many tasks. Duties like clothing production, digital marketing, customer support, invoicing, shipping and so much more can be given to someone else. Taking these tasks off your desk frees you up to focus on growing and improving your business. Plus it also helps to grow the economy – which is the bigger picture. Similarly, it is important for players in the industry to specialize and carve a fashion brand niche for themselves so they become top of mind when designers need their services.
If you’re looking to increase capacity, expand your offering, or improve your skill set, there’s no easier or more affordable way than through outsourcing.
Do you currently outsource? What has your experience been like? Share in the comment section below.
Specialization in the Fashion Industry
Finding Your Fashion Brand Niche
How to become less operational in your business so you can make more money
Why Outsourcing is good for your business
Want to Specialize in an Area of the Fashion Industry?
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