Now that I've got my bags designed and my samples and first run of bags completed, I'm working on securing manufacturing. I just don't have the time or capacity to do my own production for these bags, so I need to find a factory at which I can place orders. So when I have large numbers of bags being ordered by stores, I can get the orders filled in a small amount of time.
When vetting out a factory, there are a couple of important points to consider:
1. Belief in your own Company: First and foremost, you have to find a factory willing to work with you. Since I don't have hundreds of thousands (or even 10s of thousands, for that matter) of dollars of investment that I can pledge for my orders, I have to find factories that are set up to do small production runs and who believe that my initial orders are worth taking in the anticipation that in a year or so, I'll be placing and paying for larger runs as I expand. So I have to make sure that I communicate my plans to make this a viable business as it's my personal life and savings investment.
2. Communication: It's also important to find a factory rep who you can easily communicate with. As I have personally made all the samples thus far, I have to make sure I can give instructions clearly and easily so that I can get the product that I want from the factory, and that my rep can communicate my vision to the technicians on his/her end.
3. Quality of Work: Once the sample process begins, and I get back the initial factory sample, I'll make comments on where the seams are placed, how the trims are applied, and how the full bag is coming together. This is relatively subjective, as I know what I want it to look like, so I simply have to make sure that my vision has been communicated properly.
I have put together what is called a Tech Pack which includes all fabric and trim for the bag, a paper pattern to cut the pieces of the bag, and an original sample that I have already produced that the factory is to duplicate. Now it's a matter of sitting back and waiting for the sample and costing structure to come back from the factories I want to vet.
Monday, June 11, 2012
Wednesday, June 6, 2012
Work and Rewards
Now that it's officially summer time with gorgeous beach weather, I have to exercise restraint. I can see the beach from my living room window, so I can always assess whether it's a day I want to go outdoors while still in my pajamas. So I have to make sure that I am getting work done before I go out and play. I'm officially an adult and an entrepreneur, so I can't just blow off work all the time to hit the beach.
But, one of my issues with the corporate world is the lack of flexibility of schedules. I can't just ditch out on a good job with regular paychecks and benefits, and trade that for no guaranteed money, paying for my own insurance, and never taking any time for myself.
I haven't quite gotten into a groove or a system yet, but I have a checklist every day, and I have to make sure that I accomplish the list. And I either surf in the morning before work or in the afternoon after work. And since my commute is about 3 minutes, I can get to the beach quickly instead of an hour and a half after my work is finished.
I like to think that I am setting up my life to be lived on my terms. I suppose we all are. How do you cope with a work/play balance? Let me know in the comments.
But, one of my issues with the corporate world is the lack of flexibility of schedules. I can't just ditch out on a good job with regular paychecks and benefits, and trade that for no guaranteed money, paying for my own insurance, and never taking any time for myself.
I haven't quite gotten into a groove or a system yet, but I have a checklist every day, and I have to make sure that I accomplish the list. And I either surf in the morning before work or in the afternoon after work. And since my commute is about 3 minutes, I can get to the beach quickly instead of an hour and a half after my work is finished.
Business Sense: Articles of Publication
So, I got the Affidavits of Publication back from the Queens Chronicle and the NY Daily News. They testify that they published the announcement of the formation of my LLC. So I sent those off with a $50 check to the NY Department of State. And now I simply await whatever certificate comes back confirming that my LLC has been formed and recognized by the State of New York!
I'm on my way. I am amazed at how long this process has taken, but I think that they make it just complicated-seeming enough to keep people from doing it without a lawyer's assistance. Well, I got it all done without hiring an attorney, and I'm pretty proud of that.
So today, I am going to Capital One bank (they have no fees for checking accounts on small businesses), and I am starting a checking account for Scotty Fashion LLC. Now I just need to start making money to put into that account.
I'm on my way. I am amazed at how long this process has taken, but I think that they make it just complicated-seeming enough to keep people from doing it without a lawyer's assistance. Well, I got it all done without hiring an attorney, and I'm pretty proud of that.
So today, I am going to Capital One bank (they have no fees for checking accounts on small businesses), and I am starting a checking account for Scotty Fashion LLC. Now I just need to start making money to put into that account.
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