Do your Partnerships make sense?
Do your partnerships make sense?
As entrepreneurs, growth is necessary and being able to do everything by yourself becomes a hard task. There are so many different avenues that a business owner may take to grow but partnerships will allow you to navigate unchartered waters to achieve that growth. As a clothing brand my partnerships must not only help the brand but it must make sense.
As a brand in the fashion industry I must look at what my brand stands for and if the values from certain partnerships make sense as the wrong partnership could harm or tarnish my brand. My brand name is Humility Clothing Co., the brand focuses on bringing positive art to fashion so if I partner with a rock band that’s known for heavy drug use or an artist that is known for violence then at that point my brand will become a target for misrepresentation. The misrepresentation can possibly cost me future endorsements or end community backing. Now that you know what my brand stands for there are many partnerships that would make sense for us. Partnering with numerous organizations or groups that are community based or have charities that benefit the people. There are artist and social media influencers that will bring great, positive, attention to the brand. These are partnerships that make sense.
Partnerships that make sense in every industry begin with your weaknesses. Take a look at what areas in your business could need help? Is it in accounting? Is it in marketing? When looking towards partnership in these areas an accountant or a social media marketer partnership may make the most sense for you, if those are areas that you believe need the most work. And you don’t have the time to figure it out yourself.
There are many entrepreneurs that have expertise in fields that you have little knowledge about. In order to make growth you must be open to these partnerships that could possibly help you in such avenues. We have all heard the saying “ A jack of all trades is a master of none.” You can become a master but if every side is demanding the same amount of full attention then there will be a lack to one side or another. Therefore, choose your partnerships wisely and in a way that will further your business and your knowledge.