5 Steps to get from Brainstorming to Business
Inspired by our founder's remarkable story from finance to the world of fashion, we thought we would bring you 5 top tips from Libby London HQ on how to bring those ideas to life...
1. Be Ambitious
It sounds obvious, but we often shy away from our true potential for fear of failure. Take that idea that's been festering away in your mind and really push it. Who says your idea can't be the most successful?
2. Do Your Research Well
Chances are there will be ideas floating around that have launched and are similar to yours. You need to really do your research into these competitors - what are their strengths and weaknesses? What is their approach to their brand, customer base, and how do they market their product? Researching all of the above can cement your idea and help you structure where you place yourself in the market.
3. Record Every Idea
"I went through hundreds of ideas before I came to LIBBY London," says our founder, Libby Hart. "What you really want to do is write down every idea you ever have for a new business, or relating to one you've already thought of. I've registered hundreds of domain names for ideas I haven't approached yet, but want to keep for the future."
4. Write a Business Plan
Once you have your idea, it's imperative that you plan where you want to be in the next few years. Forecasting this, as ridiculous as it sounds, will help you to have a goal. Don't hold back - really push what you think you could achieve. These plans will always change so don't be scared of approaching them.
5. Ask for Help
Entrepreneurs may not shout about it, but they have mentors, and successful ones at that. Why not approach someone with a wealth of experience and contacts to help kick start your idea? Networking is invaluable, as is a reliable source of information. Who better to advise you than somebody who's been through the same business teething problems as you?
Also in The Memo Blog
Recently, members of the Libby team have been putting their sewing skills to good use by volunteering to make personal protective equipment (PPE) for the NHS.
In particular, fluid repellent gowns for our local Royal Brompton Hospital, upcycled from old theatre drapes. The volunteering scheme is led by The Fashion School's Caroline Gration and staff at the Royal Brompton hospital and is situated at Kensington and Chelsea College (KCC).