We're kicking off our LEVEL UP SESSIONS, a series of episodes designed to help you take your business to the next level.
These sessions together will be focussed on inspiration and education – a mini strategy session for you to take away some actionable steps and apply them to your own business and keep moving forward.
These sessions might even inspire you to consider exploring consulting and spark a renewed focus on your own professional and business development.
In today's episode, we'll be discussing "A Pathway to Profitability," and exploring what fashion brands and eCommerce business owners can do to improve the profitability of their business.
From my experience, “Working extremely hard for little or no return is the biggest passion killer in business.”
Profitability is at the core of any successful business.
It's what allows you to sustain long-term success, reinvest in your business,
grow, scale and gain fulfilment from what you do and why you do it."
Let’s face it, if we have a great week, a great month or a quarter, that’s when the motivation, inspiration and celebrations occur…and we ALL want more of that in business.
Now if you are in the early days of business, do put this in perspective based on your start-up stage, it does take time to turn a profit. The important point to note is you must PLAN to be profitable from the beginning and know what you need to deliver to the business to ensure this happens.
But, if you’ve been in business for some time now, whether that’s A YEAR OR TWO or a DECADE or TWO… it really is time to pave the Pathway to Profitability and ensure you’re on track to ultimately achieve YOUR version of success in your business.
During this Level Up Session, we cover:
- Understanding the importance of profitability
- Identifying profit-optimising opportunities, across:
- Pricing strategy
- Cost of goods
- Discounts
- Expenses
- Marketing
3.Taking action and measuring results
By identifying your profit-optimisation opportunities, overcoming common challenges, and taking action, you'll be well on your way to making significant improvements.
If you enjoy this LEVEL UP session, please be sure to subscribe so you don’t miss any upcoming episodes.
We love hearing from you, so feel free to DM us and share any feedback on whether this episode was helpful and share any future topics you would like me to dive into in our LEVEL UP sessions.
READY TO SCALE UP?
Ready to level up to a new phase of growth and expansion?
Elizabeth founded fashion consultancy Fashion Equipped in 2012 to expand the reach and potential of the Australian industry. Backed by decades of experience in all aspects of the business, and passionate about entrepreneurship, growth and the power of community, Elizabeth delivers fashion consulting, mentorship and online learning to hundreds of businesses and counting. From buying, product development, sales and sourcing, to strategic planning, marketing and team management, our expert line-up of industry insiders are committed to sharing their knowledge, networks and passion - to empower you to build a thriving fashion business.
Elizabeth's next availability for consulting is June 2023. Feel free to reach out to her directly at elizabeth@fashionequipped.com.au.
Consulting is suited to brands that are already trading and ready to work on their strategic growth plans.
READY TO START UP?
Ready to bring your vision to life and start your fashion business?
ONLINE LEARNING
We’ve crafted our decades of experience into an online fashion business syllabus informed by and tailored to the real world. Start Your Fashion Business is an industry-first online learning platform and a dynamic and engaged community.
If you are a start-up who wants to make the Fashion Business your Business – then head to our website and watch the replay of our last Info Session & QA. Our 'Start Your Fashion Business' programme is open online, so if you would like to join our community jump straight in!
MENTORSHIP
It takes finely tuned business skills to make it in fashion, but mindset also plays a huge role. This is why mentorship is an essential ingredient to success – few can guide you on this path better than those who’ve already walked it and our deeply experienced mentors are here to help you navigate the business while building a strong mindset.
If you want to work 1:1 with a Mentor and kickstart your biz development, you can head to Your Mentor Collective – book a 1 hour of power session with one of our amazing industry Mentors - that's where the magic happens!
MINI COURSES
If you're up for a Mini-Course, check out our Start and Scale Studio on our Fashion Equipped website and explore Start your Sourcing Strategy, Startup Cost Analysis, and Tech Pack Development.
You can find Fashion Equipped over at:
Instagram: @fashionequipped @startyourfashionbusiness_au
Podcast Insta: @fashionbusinessmindset
Facebook: www.facebook.com/fashionequipped
Website: www.fashionequipped.com.au
Let's do this together, let's make The Fashion Business, YOUR Business!
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