Some vital questions you need to ask yourself before starting a brand or launching a product are: Who is your target audience? What is your brand story? What are you aspiring to be? What do you want to have gained by the end of this session?
Shooting Techniques: Rule of thirds
The rule of thirds is a guideline which applies to the process of composing visual images such as designs, films, paintings, and photographs. The guideline proposes that an image should be imagined as divided into nine equal parts by two equally spaced horizontal lines and two equally spaced vertical lines, and that important compositional elements should be placed along their intersections. Proponents of the technique claim that aligning a subject with these points creates more tension, energy and interest in the composition than simply centering the subject.
Film Story Board
A six-board to show different scenes and how they’re connected.
There are lots of entrepreneurs who are finding it difficult to grow their business, simply because they lack necessary facilities like, good internet, a working space (office), a serene environment and motivation.
In this article, we will be telling you why you need a co-working space as an entrepreneur and how it will help you grow your business from 0 to 100.
What is a Co-working space? A co-working space is an office where work-space is shared with independent activity.
The following categories of people can use a co-working space:
Independent professionals and entrepreneurs
Remote workers and telecommuters
A growing group known as “side-giggers,” or those who are employed in some capacity but take on other part-time, independent assignments
Why You Need a Co-Working Space
You need a co-working space basically because of work facilities your business lacks.
The following are the reasons why you need a co-working space:
You will have access to basic facilities your business lacks like, good working space and environment,
good and fast internet
Collaboration and networking with other business owners
Access to valuable business contacts
Access to your personal locker and chair for you and your client/customer
Motivation from other business owners in the same co-working space with you.
– Visuals help define a brand’s identity and communicate the vision of the brand.
– Creates better experiences.
– Shows off details.
– Create visuals that are memorable.
– Get creative and think outside of the box.
– Be consistent.
PR and publicity
Word of mouth
– A strategic management and lean startup template for developing new or existing business model.
– It gives you the structure of a business plan without the overhead.
Business Model Main Drivers
– Focus; Is the stripping away of so many pages of a traditional business plan.
– Flexibility; It’s a lot easier to tweak the model and try new things.
– Transparency; much easier to understand.
The first set of questions one must ask themselves when starting a business or launching a product is the cliche and obvious one:
What is your product?
Who is it for?
How do I get it out?
These questions when answered in all honesty and clarity is the blueprint to knowing what you want to produce and for whom.
Fashion startups have a tendency of multi-tasking, this saves finance, but the idea of really building a brand is to know when to seek help. One man cannot do it alone. In a situation where you can’t afford to hire, then contract.
As a designer one must create a niche and the best way to do so is to identify you signature. A way of cutting, layering or perhaps, colour. Most top designers all have a signature, a mood that comes to mind when a designer’s name is mentioned. You need to find a way to marry your signature to the trend at any particular time.
Mr Chigozie Amaraegbeni held the class on growth and the importance of branding.
Key factors in planning for growth:
Research into our market.
Segment your market.
Determine the customer acquisition cost of your customers.
How do your customer talk/want to be spoken to.
Develop a marketing strategy.
Learn quickly and adapt.
Three things to consider in general
Who is on your supply chain?
Who is our competitor?
Who is adjacent to your market?
Equity. Share holding. Ownership. Phantom stock. These are some business terms that has to do with finance. Fashion, like every other business thrives on finance. To really understand the legalities involved with owning and dividing a business, Mrs Jane Maguegbuna, a legal practitioner and the co-founder of Afrinolly was invited to share her personal story.
She began with the quote from Peter Drucker: “wherever you see a successful business, someone once made a courageous decision.”
Starting from when you wake up in the morning, you make a conscious decision to either get out of bed or remain in bed; workout or not; go to work or not. Every decision you make adds up to where you end up. So, it is very crucial that you make decisions that reflect where you see yourself and the goals you’ve set for yourself. Most times, these decisions are difficult and they’re not fun but they have to be made.
Equity and Share holding
Who holds what?
What percentage is fair?
How do you determine percentage?
Should you keep a reserve equity?
Equity is shared in a company as follows CEO – CTO – COO, where CEO gets the largest number of shares.
Mrs Jane Maduegbuna’s advice: at first 10% may not seem like a big deal but further down the line, you will come to see the benefit of just that amount of shares. Be careful how much shares you give away and to whom.
Types Of Employee Equity
Synthetic equity/Phantom stock: Stock Appreciation Right [SAR]. This case, you still own the stock but this helps create loyalty. As the stock value of the company rises, so those the equity share, gains more value.
Also contributing is Mr Oluwaseun Ajasa, Managing Partner ATC Legal.
Register your business name, trademark your products and always seek legal counsel on any document.