As brand owners, we get asked about how to start your own brand quite regularly. I would always encourage anyone to follow their dream, go for it, make it happen. I will always be honest however. I don’t know of any short cuts. There are no tips I can give that will make your brand an overnight success, it's hard work, determination, belief and there will be plenty of obstacles to overcome. In our offices we try to focus on solutions rather than problems. Most days we have plenty of solutions we need to find, that’s the nature of business, so before you start down the route of setting up your own brand or any other business for that matter, be prepared for it to not always go to plan. You must learn to adapt. Personally, when faced with a cross roads, I like to sit on it for a few days, and let my experience and gut direct me in which path to take. We only learn from our mistakes, so don’t fear them, they help build character, and give understanding for next time when faced with a similar situation you will have a better perspective and be better equipped for coming up with your next solution. So I will always say, be honest with yourself, are you prepared for disappointment? Can you get back up when being knocked down? Have you the unshakable belief in your goals? If the answer is yes, then start work on your business plan, don’t rush it, put your heart and soul into it, visualise it happening in your mind, feel it inside you, and put all of your passion into this project. Anyone who you show it to, be that banks, investors etc has to believe in you - if you don’t believe it, they certainly won’t either.
Finding a name for your brand is vital. This may seem easy, and you may even already have one in mind. We have done this a few times now, and there are a few things you need to check before you start working on your name, logo and overall branding. Check the availability of your desired handle on all social media platforms, can you get the URL and own your trademark? Gov.uk allows you to check if your name is or isn’t already in use and for a fee, register it. Get this sorted from the start as you don’t want to get your brand up and running with wholesale orders coming in only to find out you can’t use your chosen name and branding.
Putting together your business plan takes time and lots of research. As it takes shape on paper, it simultaneously begins to takes form in your mind. Challenge what you write and don’t be afraid to find flaws in your plan, as this starts the process of you thinking of solutions, which will ultimately strengthen your belief and brings you closer to achieving your desired goals. Ask advice from people you trust. This may go against your current thought process but that is ok. Take a few days to mull this over, because in the end, it’s your decision, so build up your faith in your gut instincts. This takes time to truly have the courage to go with your gut, but the payoff is worth the work. Picture your dream life, work out what’s important in your life and if your dream is to start a brand that will sell globally in all the best shops in the world, go for it, don’t let anyone tell you that you that you can’t do it, focus on success and enjoy the journey.
Exit strategy, what does that look like 5 years from now? What do you want from the business? Initially, I wouldn’t think too hard about this, as this will change, but it does pay to be prepared and getting at least a rough outline of this down on paper can really help put you ahead. We check in regularly to our plan as it’s forever changing, but that excites me as new opportunities are always opening up and this can change your overall plan massively.
I am always happy to look over business plans and where I can, offer any advice, so feel free to drop me an email at martin@themaraigroup.co.uk
