22 Tips to Open Dress Making Company

• Recent start-up success-story “Coin” had the idea of a simple card that consolidates all your credit cards, debit cards, gift cards, and other wallet-clogging plastic into one, easy-to-use card. By identifying a consumer need (to de-clutter) and a simple, elegant product that filled that need, Coin generated a lot of buzz and attracted serious investors and customers.

Open Dress Making Company

12. Create a working model of your product.

In order to attract serious investors.

You’re going to have to prove that your innovation is possible.

Whether your company will be structured around the most delicious brownie mix ever marketed to Brooklynites,

Or a chain of coffee kiosks, you’ll have to develop a working model that actually works.

• Hook up with engineers and other technological innovators if you can’t create a working model of your product yourself. Depending on what you’re trying to create, this may be a serious time and money investment. Consider crowd-sourcing for an initial product, if it should prove expensive.

View also: Top Media Development Tips in Nigeria

Open Dress Making Company

13. Create a long-term series of goals for your company.

What will you need for your company to be successful at the end of this month?

The end of this year? Ten years down the road?

Give some serious thought to where you want your company to head and what you’ll need to take it there.

Flying by the seat of your pants is a good way to create a company that will fail.

Careful planning will help you to structure your company.

And accurately anticipate the challenges that await you.

Open Dress Making Company

14. Put a name on it.

It’s important to come up with an appropriate.

And eye-catching name for your company to make it official.

Brainstorm lots of possibilities and get feedback on a handful of your favorites.

A well-named company has a much better chance of sticking around long-term.

Your name also needs to be unique in your state.

If you plan on filing for incorporation.

And should be registered with the Business Bureau or Administration in your state.

A good company name should be:

• Catchy
• Simple
• Fresh
• Easy to brand

Read on: Top 50 Convenience Needlework Business in Nigeria

Open Dress Making Company

15. Write up a business plan to define your goals and appeal to investors.

A business plan is an essential step in starting any company.

A well-written business plan forces you to articulate the corporate philosophy for your company.

The practical execution of your ideas in terms of marketing and funding.

And a detailed description of your product or service.

Your business plan needs to include:

• Your vision for the company
• Market research and consumer analysis
• A detailed description of your corporate structure, including leadership and staff
• Your marketing plan
• A specific breakdown of costs needed to get your company off the ground
• A personal appeal to potential investors

Open Dress Making Company

16. Consider forming a business partnership to run a tighter ship.

A partnership is shared by one or more individuals who divide profits.

Responsibilities, and other elements of the company among the parties equally.

Or on a limited basis depending on the company’s structure.

To register a business partnership, you’ll need to register your name.

Acquire the appropriate permits for holding business.

Depending on your company, and file your company with the IRS.

The tax formula for partnerships is somewhat more complicated than that of an LLC.

• The partnership must furnish an Annual Return of Income.
• As well as both employment taxes and excise axes by filling out IRS form 1095.
•  The individual partners must additionally pay individual income tax.
• As well as self-employment tax and excise tax.

Open Dress Making Company

18. Estimate your start-up costs.

This should be done as part of the business plan.

As a way of figuring out exactly what you’ll need to request from investors.

And acquire via other means.

It’s an essential part of getting your company started.

And helps to give possible shareholders or venture capitalists a hard number to consider.

• Try to distinguish between essential and optional costs.
• The cost of the start-up should only include essential costs, the bare minimum to get things started.
• While it’d be great to have money built-in to the start-up for the Fruit Loops bar you’ve always wanted to have at work, it’s probably not a great idea to build that into the initial plan.

See also: 8 Tips to Start Luxury Yacht Business in Nigeria

Open Dress Making Company

19. Complete a cash-flow analysis.

Before anyone will consider putting up money to invest in your business.

They’re going to want to know when they’ll start seeing some return on that investment.

You can determine this by performing a cash-flow analysis.

The result of which will be a reasonable expectation of the time.

It will take for your company to become profitable and begin paying back the investment.

• A good cash-flow analysis should accompany your business plan when you meet with investors.

Open Dress Making Company

20. Generate as much buzz as possible.

People will be more willing to invest in your company if there’s a difficult-to-define “buzz” around it.

You want your company to poise itself as being impossible to fail.

You want your ideas to seem so strong, your leadership so secure.

That there’s no way it could possibly lose money.

Partly, this will come from establishing an innovative.

And exciting idea that it will be difficult to deny.

As well as dipping your toe into the vast pool of advertising.

• Revolights, a garage-start-up that made awesome-looking rotary bicycle lights, managed to crowd-source almost five times their essential funds based on a simple Kickstarter video that went viral. Because the lights looked so cool.
• It was easy for individuals to convince themselves to pony up some money in exchange for the product’s availability.

Open Dress Making Company

21. Embrace new media and advertising.

While it’s important to announce your company in the traditional business trades.

And make the regular contacts.

It’s essential to embrace new media and structure your company in the 21st century.

Building a buzz around social media.

And other online venues could be the difference between a hot new unveiling and a flat-out failure.

Read also: 20 Tips to Adopt Turkish Restaurant Styles in Nigeria

Open Dress Making Company

22. Make your company a trendy place to work.

As you recruit and hire new employees.

Dropping your new company on the world.

You want to cultivate a reputation as an innovative and trendy place to be associated with.

Companies like Google and Facebook, aside from being incredibly successful and innovative service-providers.

Have also established a reputation as places that celebrate progressive office culture.

If you want to attract the best and the brightest in young workers.

Forego the dismal office park and the traditional culture in the wake of flextime.

Worker-friendly aesthetics and features, and an open policy of making your employees happy.

• In general, the difference between thinking in terms of a successful business and a successful company is that a company requires much obsession over issues of HR and office policy, in addition to the traditional business concerns of product development and innovation.