Fashion Business Owner Musings: Weighing Cost vs Impact

spacerI’ve been thinking about how we make decisions as to how we spend money for the “unnecessary” things in our businesses. If you’re like me, you tend to play it safe. You tend to do the smart thing, which is to weigh the necessity of things before spending the money. That’s a good thing. Great, really. Being a responsible fashion business owner is commendable.

But sometimes I think we need to weigh more than simply the necessity of something. We need to also weigh the impact of it.

Here’s what I mean.

There are things that we don’t need in order to run our businesses but, if we had them, the impact they would make on things like our emotional health, confidence levels, efficiency, and/or even physical health would be massive.

I understand that we need to be thoughtful about how we spend money in our businesses, regardless of what stage it’s in. And I’m not suggesting that that be ignored. This isn’t an invitation to just go and spend money all over the place

But sometimes, it’s not just about the logic and the necessity of an expense.

It’s about how it makes us feel.

It’s about the ways it impacts our focus and efficiency.

It’s about what it does for us as business owners who are working really hard to launch dreams and reach goals.

These feelings and actions matter, and by continuing to tell ourselves that an expense is irresponsible, we could be doing ourselves and our businesses a disservice in the long run.

As you start to develop and grow your business, I want you to avoid the automatic “nope!” for everything that costs money, and instead start to think about the impact that each expense could have too.

Ask yourself, what impact would this have on me and my business if I went for it? Does that feel worth it to me?

Maybe the answer is still “No, it’s doesn’t” and that’s fine.

But if it would really make a difference in a positive way, then consider it. Maybe budget for it for the near future.

The point is this: money is not the only deciding factor for every single thing in your fashion business. Sometimes you need to go deeper and make decisions based on more than just what it costs.

Lots of love and encouragement,

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Nicole Giordano

Nicole is the founder of StartUp FASHION, an online resource and community supporting for independent designers around the world with building their businesses. A deep love for the craft of fashion paired with an adamant belief that success is defined by the individual, led her to found StartUp FASHION, where she helps independent designers and makers screw the traditional fashion business rules, create their own paths, and build businesses they truly love. More than anything else, she’s in the business of encouragement and works every day to remind makers and designers that they have something special to offer the world and that they can, in fact, do this thing!

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