Reno
New Contributor
Hi fellow Fastlaner's.
I am about three years into this process and I have made mistake after mistake. Undeterred I plow on. I would like to get some feedback if you would be so kind as to 1. what you think of my plan and where I'm at now 2. suggestions for going "Fastlane".
Let me say my I have been studying Napoleon Hill for about five years and although I think his works are sound (consistent with everything I read in MJ's book) and I have filtered through quite a few "gurus" and felt, like i'm sure many if you do a true kindred spirit in MJ, though I have never met him and only been introduced to this forum and his book very recently.
To best make sense of what I am doing (this may get a bit long) I was a bit of an artistic protege from about pre-school on. I could draw, sculpt or whatever without any lessons, just could do it, or it was like something was doing it through me eventually. Anyway, I grew to resent being pigeon holed as an "artist" and after a relocation and some negative life experiences I basically drifted away from art or even being creative. I was also a pretty good athlete and almost became a professional boxer and dabbled in MMA for about five years. To illustrate how far away from art and creativity I went, after my son was born (when I was 24) I got a double business degree in accounting and marketing and almost went to law school.
OK. So my background out of the way I had an idea in college to launch a t-shirt company that focused on a niche in WWII aviation nose art (the paintings on planes). I did my capstone on it, but it I went through the motions with that to graduate.
Fast forward five years and I was able to get fired from a job at an insurance company. Move away from the little town I loathed. Was able to short sell my house that I was upside down on with no penalty. The goal of all this was to launch my business and achieve the purpose so clearly defined by the "Fastlane" philosophy.
I understand that I must provide a product that is of equal or greater value than what the customer exchanges for it (money). I believe in giving to others and with a target market of military, ex-military and aviation and history enthusiasts I want to give back to those who have given so much for us - military vets.
The Skinny:
So I am set up in Seattle, just N. of Boeing Field. I struggled and never successfully got an e-commerce platform set up (I initially wanted to make this the main focus, but realized that without capital and tech skills - failed! - so far). I have a product that people really respond to, is unique and people are getting excited about and have a great deal of confidence in apparel design and a fantastic vision (more on that later).
I have formed two strategic partnerships:
-With a non-profit start-up in Seattle Seattle Fashion Incubator (SFI), which has yet to gain any real footing yet either.
-Another with a small niche retailer and wholesaler of Big and Tall men's apparel, mostly tees.
There is potential for some equity financing through a contact of SFI - $100,000 for a 30% stake. Still waiting to see where this goes as it is part of another potential financing deal through SFI.
I also have a somewhat wealthy friend of the family who is interested in investing in an undetermined capacity.
Until I formed a partnership with this other apparel line, which is basically a licensing deal based on designs they use and I create for them (I receive 30% of wholesale - they carry the inventory and paper, and I also receive 50% of their sales). My separate brand is independent of this brand (focused on sizes 2XL and up) where I focus on standard sizing and create my own lines.
The Partnership with the apparel company helps me in that it provides revenues (based on performance of the brand) and exposure and credibility as well as shared marketing as the two will be linked with their brand as a sub-brand of mine.
The SFI partnership provides leverage in networking, which I have virtually no time and resources to pursue (currently our agreement is that they receive 20% of revenue, and the founder has been basically working for me for free so far with no revenue, but it is a performance based agreement). We had a building secured for SFI, which would have provided additional space and resources for my biz, but we got screwed over by the person who was the benefactor, or rather SFI I did and me by proxy.
Right now I live and work in a 500sq ft shop where I print and design. I have spent every $ I have and except for some small loans from my son's mother and living like a mouse I wouldn't even be able to pay rent on my shop and the minimums on a couple credit cards, etc.
So things appear pretty desperate. This begs the question - what is my plan?
-I finally appear to be getting some traction with the other apparel brand. There has been some talks through SFI with some retailers and I plan on getting my new word press site fine tuned to host my brand.
-Have an e-commerce solution: List retailers on the site (as we continue to get more). Host a blog featuring news and possibly showcase works in process.
I plan on setting up a pop-up shop at various events next year such as air shows and apparel and fashion events as well as other relavent events where target markets would be concentrated (I had some success with a small one I did last summer). Creating a t-shirt of the month subscription (not sure exactly how to craft this yet and need to figure it out because want to launch Jan).
The brand was supposed to be featured on the T.V. show Extra and we were told the segment was shot, but at this point I have written that off
I have potential suppliers and manufacturers in LA for outsourcing of the product through the partner brand, but need cash to make this happen.
Problem areas:
-Focusing the brand on the niche' rather than the longer term vision.
-Generating sales.
-obviously, cash flow.
-How best to market the product.
-web development.
I would like to eventually focus the brand more broadly, but that is where I see this thing really getting big, but first it needs legs . . .
I truly desire to make my vision a reality! I obviously need resources and traction. Any advise and constructive comments welcome.
Thank you so much,
Reno
I am about three years into this process and I have made mistake after mistake. Undeterred I plow on. I would like to get some feedback if you would be so kind as to 1. what you think of my plan and where I'm at now 2. suggestions for going "Fastlane".
Let me say my I have been studying Napoleon Hill for about five years and although I think his works are sound (consistent with everything I read in MJ's book) and I have filtered through quite a few "gurus" and felt, like i'm sure many if you do a true kindred spirit in MJ, though I have never met him and only been introduced to this forum and his book very recently.
To best make sense of what I am doing (this may get a bit long) I was a bit of an artistic protege from about pre-school on. I could draw, sculpt or whatever without any lessons, just could do it, or it was like something was doing it through me eventually. Anyway, I grew to resent being pigeon holed as an "artist" and after a relocation and some negative life experiences I basically drifted away from art or even being creative. I was also a pretty good athlete and almost became a professional boxer and dabbled in MMA for about five years. To illustrate how far away from art and creativity I went, after my son was born (when I was 24) I got a double business degree in accounting and marketing and almost went to law school.
OK. So my background out of the way I had an idea in college to launch a t-shirt company that focused on a niche in WWII aviation nose art (the paintings on planes). I did my capstone on it, but it I went through the motions with that to graduate.
Fast forward five years and I was able to get fired from a job at an insurance company. Move away from the little town I loathed. Was able to short sell my house that I was upside down on with no penalty. The goal of all this was to launch my business and achieve the purpose so clearly defined by the "Fastlane" philosophy.
I understand that I must provide a product that is of equal or greater value than what the customer exchanges for it (money). I believe in giving to others and with a target market of military, ex-military and aviation and history enthusiasts I want to give back to those who have given so much for us - military vets.
The Skinny:
So I am set up in Seattle, just N. of Boeing Field. I struggled and never successfully got an e-commerce platform set up (I initially wanted to make this the main focus, but realized that without capital and tech skills - failed! - so far). I have a product that people really respond to, is unique and people are getting excited about and have a great deal of confidence in apparel design and a fantastic vision (more on that later).
I have formed two strategic partnerships:
-With a non-profit start-up in Seattle Seattle Fashion Incubator (SFI), which has yet to gain any real footing yet either.
-Another with a small niche retailer and wholesaler of Big and Tall men's apparel, mostly tees.
There is potential for some equity financing through a contact of SFI - $100,000 for a 30% stake. Still waiting to see where this goes as it is part of another potential financing deal through SFI.
I also have a somewhat wealthy friend of the family who is interested in investing in an undetermined capacity.
Until I formed a partnership with this other apparel line, which is basically a licensing deal based on designs they use and I create for them (I receive 30% of wholesale - they carry the inventory and paper, and I also receive 50% of their sales). My separate brand is independent of this brand (focused on sizes 2XL and up) where I focus on standard sizing and create my own lines.
The Partnership with the apparel company helps me in that it provides revenues (based on performance of the brand) and exposure and credibility as well as shared marketing as the two will be linked with their brand as a sub-brand of mine.
The SFI partnership provides leverage in networking, which I have virtually no time and resources to pursue (currently our agreement is that they receive 20% of revenue, and the founder has been basically working for me for free so far with no revenue, but it is a performance based agreement). We had a building secured for SFI, which would have provided additional space and resources for my biz, but we got screwed over by the person who was the benefactor, or rather SFI I did and me by proxy.
Right now I live and work in a 500sq ft shop where I print and design. I have spent every $ I have and except for some small loans from my son's mother and living like a mouse I wouldn't even be able to pay rent on my shop and the minimums on a couple credit cards, etc.
So things appear pretty desperate. This begs the question - what is my plan?
-I finally appear to be getting some traction with the other apparel brand. There has been some talks through SFI with some retailers and I plan on getting my new word press site fine tuned to host my brand.
-Have an e-commerce solution: List retailers on the site (as we continue to get more). Host a blog featuring news and possibly showcase works in process.
I plan on setting up a pop-up shop at various events next year such as air shows and apparel and fashion events as well as other relavent events where target markets would be concentrated (I had some success with a small one I did last summer). Creating a t-shirt of the month subscription (not sure exactly how to craft this yet and need to figure it out because want to launch Jan).
The brand was supposed to be featured on the T.V. show Extra and we were told the segment was shot, but at this point I have written that off
I have potential suppliers and manufacturers in LA for outsourcing of the product through the partner brand, but need cash to make this happen.
Problem areas:
-Focusing the brand on the niche' rather than the longer term vision.
-Generating sales.
-obviously, cash flow.
-How best to market the product.
-web development.
I would like to eventually focus the brand more broadly, but that is where I see this thing really getting big, but first it needs legs . . .
I truly desire to make my vision a reality! I obviously need resources and traction. Any advise and constructive comments welcome.
Thank you so much,
Reno
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