The five tips are: (1) Write a business plan with a complete financial and marketing plan. (2) Your marketing strategy should be built around your strengths, your competitors’ weaknesses, and your customers' desires. (3) Test the reality of your business—know why it will work and how you will make it work. Think your business through step by step. (4) Allow at least two hours every week for thinking and planning. Do not allow anything to interfere with this time. You run the business. Don't let it run you. (5) Establish an annual operating plan. Review it and update it monthly with appropriate employees. Students’ opinions about the most important tip for a fashion retailer will vary.
Possible answers include lenders, fashion designers, existing fashion retailers, or fashion buyers.
SCORE’s advice regarding promotion is: (1) Know why you are advertising and what you want to accomplish. Evaluate your advertising carefully and measure its effectiveness. (2) Develop appropriate sales promotion tools such as flyers, brochures, and signs. Carefully review each item for its effectiveness and evaluate what these tools say about your business. (3) Signage should be a major part of your marketing strategy. Signs are a vital part of small businesses and can be the most efficient, effective, and consistent device for generating revenue. (4) Every small business should be listed under the appropriate heading in the Yellow Pages, but not every business needs to buy expensive display ads. Be judicious. (5) Get involved in your community. Join the chamber of commerce, business organizations, service clubs, and charities. Network yourself and keep your antennae up.