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How to be an Entrepreneur in an industry you know nothing about.

    • 71 posts
    June 30, 2006 3:42 PM EDT

    Dear Xiosk,

    I just read your posting/blog.  Are you open to peoples opinions about your posting.  Are you posting it on this forum for open debate around the issues and the advice you give.  Or are you just looking for free advertising.  I will not post my opinions or thoughts until I hear a response.

    Good lock with the blog, I hope you have great success.

    ---
    Erik
    www.usspin.com
    www.unitedbusinessalliance.com

    • 15 posts
    July 4, 2006 4:23 PM EDT

    ....I will not post my opinions or thoughts until I hear a response.

    ......hmmmmm I`d be interested to hear what you have to say

    • 41 posts
    July 23, 2006 12:48 AM EDT

    You are right about trade shows and attending them. I spent little money going to Magic fashion tradeshow in February of this year. I went for free as a buyer and spoke to all industry insiders. THE BEST THING WAS the FREE SEMINARS in which the fashion industry insiders and companies presented for free information on industry. I TOOK ALL THE SEMINARS i could fit into my 4 day trip. For example I went to trend forcast seminar. Trend report books cost 20,000 and up for good ones like they have at my fashion school. I got the same info in a free seminar.

    The Benefits.

    1. I met the authors of the major fashion books
    2. I got to speak to a patent attourney for free and ask questions about my products
    3. I was able to source competitors to the clothing company I used to make my  product.

    Now where I disagree with XIOSKFOUNDER is that you CANNOT learn about a business without diving in. The secret to success is limiting your mistakes by being frugal with your startup funds. I started not 1, but 5 businesses concurrently. Three of them in the music industry in which I had no background. My partners have extensive background in the music industry but I do not. I had to bring myself up to speed on the music industry so that I was on the same level as my partners. I did that my doing an internship at the biggest music company in america, reading books, researching online, partnering with music companies who had experts that helped me with projects until I was able to produce an album in 6 weeks to get it to Vegas in time for a TV show.  

    I am so thankful that I started the businesses I did and limited my costs. I learned the "why" behind the "how" by actually taking a risk and producing product and setting up a corporation.

    How I limited my costs was by creating a small collection of a few designs. Most people are tempted to produce tons of products but its not necessary. You only need the samples to show to the buyers. You dont need a wharehouse full of product. Its easy to sell your ideas especially if you have a sample people can touch or view visually via a website or presentation.

    Also. you dont have to buy books to read them. There are libraries or just read in Barnes and Noble, borrow from friends, or use www.half.com and get books half price. Knowledge is power and reading is the fastest way to become informed on a new business.

    You can talk to lawyers for free. My high power Hollywood lawyer gave me a free consultation. I actually had called 6 lawyers in one day shopping for a lawyer and got basically 6 hours of free consultations before i picked my lawyer. Also I spoke to lawyers at the trade show etc.

     

    ---
    Laurie Champagne
    CMO
    Groove Rock Gear, Inc.
    grooverockgear.com
    grooverockmusic.com
    grooverockradio.com



    email: laurie[at]grooverockgear.com

    • 6 posts
    June 30, 2006 6:33 AM EDT
    Post removed.
    XIOSKFOUNDER2007-1-2 14:56:24
    • 6 posts
    July 18, 2006 1:06 PM EDT
    Please post your comments!!! Good bad or otherwise. :)