I had a lady ask me some start-up questions. They were good questions and since I answered them so thoroughly, I thought I'd share them with you. :-)
Q: At what stage did you become a company?
A: Right at the beginning. I was thinking up products and working on prototypes and my husband said, "You'd better set up a Limited Liability Company or something to protect yourself." I said, "By God, you're right!" I started the company about 20 days after I decided to pursue making the product. So it was one of the first steps.
Then when I told another family member what I named the product, he said, "Wow, you were able to get the domain?" I didn't know what he was talking about. He said that many companies will not name themselves or their products until they can secure the web domain first. By some stroke of luck, both the product name "
Stylease" and the company name "
Liloebe" were both available. So I snapped them up!
Q: Was it easy to become a company and get a logo,
trade name, etc.?
A: Easy...
hmmm. Well, it's just about going through a series of processes, so I wouldn't say it was hard, but I think that is due in part to my personality and how I process information. I did not have any idea how to set up a company, obtain a trademark etc. but my mantra is, "How hard can it be?" then I proceed to figure it out. I hired a small business atty to help me file the
LLC. One of my biggest savings is that I designed and executed my logo. I did not use a graphic designer. I'm proficient in
Photoshop and illustrator so that was easy. I went on-line and looked up how to
trademark a name, paid my $364, waded through lots of boring legal
mumbo-jumbo and filed a certain type of mark (based on what I read) since the mark was not yet being used in commerce.
Jenservation: Why would I wait to file a trademark application until AFTER my product and brand were being used in commerce?? If it didn't get approved, or someone else was using the same or similar mark, I would have to re-label all my goods... But apparently many people file for a trademark once their product is in the market... Don't ask me why.
It occurred to me that my idea should be able to be protected. Several attorneys said "Nope, if you change one snap, then there is no longer an infringement issue because it's a different product." That didn't sit well with me so I kept looking until I finally tried a PATENT atty... (duh) Who
promptly told me, in my free 10 minute initial meeting, that it was a very patentable idea. HA! Victory is mine!! (for a fee)
I have since found out that patent
attys can be shady and take your money for years claiming to argue your case, knowing full well that no patent will ever be granted, so be careful. I found a fabulously talented (and honest) patent atty named Jason Young here in Northern Michigan but I have yet to track down any kind of website to share with you. (Bad Jason, bad brilliant patent atty!) My patent was pending for about 18 months, then it was granted. It is a utility patent not a design patent, so it's coverage is fairly broad (of the idea) but specific enough to cover the innovative parts that would make the functionality of the products virtually impossible to use (from a practicality standpoint) should someone try to copy me. So it was worth the money.
When I filed for my patent, (he was a patent and trademark atty) he asked how I knew to file my trademark app the way I did, because it was exactly the right thing to do, and it is his job to figure that out for people... If I had filed the other kind of mark, (one you file when goods are already in use) it would have been rejected. I just told him that I read the procedure before I filed. He was amazed. So... some might find it difficult, but if you just do the legwork, and remain detail oriented, well you can save yourself a lot of money.
The patent is another story. A good patent writer is like a good grant writer. It can mean the difference between being granted the patent or not. So I would not try to do that myself. It's like defending yourself in court... HIRE A PROFESSIONAL. (Not that I would know anything about that.) heh heh, Hi Mom, Hi Dad.
Q: Who did your first prototype and how did you perfect it before giving it to to different manufacturers?
A: I made my first 8 samples (prototypes) because I needed to know if the concept was actually going to work. Mixing textiles etc. I had to work out the designs to make sure they were easy for the parents to use, not just the look of things. We are still working every season on making the clothing as user-friendly as possible and still pull off the illusion of separates.
I only use one manufacturer. They are truly my partner. I love them and would not have a product or business without their help.
Q: Do you design the clothes yourself?
A: Yes. I had hired a designer friend (to help) who had worked for
Gymboree for 14 years and her designs were good but her spec sheets were wrong. That cost me a lot of money and lost production time having to do things over. I use elements of her designs when I'm designing but I have not used her in about 18 months. At the moment I do all the designing and I execute the spec sheets as well so now there are no surprises when the samples arrive. They look exactly like I expect, because I am extremely careful that my specs are correct. And I do my technical drawings to scale. I measure up my little drawing to arrive at my spec. Can you spell ANAL RETENTIVE? But it works I tells ya!
Q: Are you the creative background for the patterns, fabrics, buttons, etc.?
A: I am
Stylese's creative force. It is all me which is good because if I pitch an idea to the board (which consists of me and... me) then I
unanimously approve it. :-) But it's bad because I don't get to collaborate and collaborating is good when you are trying to please the tastes of many parents... But on the other hand, I'm not at odds with the other creative people on my staff (me). I like me, we get along very well.
Jenservation: If you spend too much time talking to yourself, people look at you funny and stop offering you more coffee.I source the textiles and trim (snaps, buttons etc) for the line. The sample room at the factory in China makes the patterns based on the spec sheets I send. I e-mail them my fabric choices (scanned swatches), they match them (kind of), I approve the textiles and they make the samples for me to approve. This is actually a painful and complex process through e-mail. I always have a MUCH better time when I go to China and physically do the sourcing myself. It also cuts the process down form 6-8 weeks to about 5 days!
Q: Did you have to pick one outfit and focus on it or did you design a few at first?
A: I designed the first 8 all at the same time and now I do the best I can with the time and money I have. I usually design 2 new boys and 2 new girls outfits a season and add them to the existing line. Because I carry inventory, I push forward the styles from the previous year so the line is growing but not all the styles are new.
I am seeking a business partner (I think) because I am doing this alone and things are taking a hit because I do not have enough hours in the day to design, monitor current production, receive and manage new shipments, process orders, design marketing plans,
execute sales strategies, do my invoicing, go after accounts that don't pay, manage my household AND be a good mom to my girls and good wife to my fabulous hubby. Right now sales are taking the back seat (because I don't like them) and that is hard on the cash flow because you must have sales to survive. But if you don't design new product, you have nothing to sell. The thing is, the business partner I want, needs to be someone willing to put in the same kind of time and dedication, for free, for a cut of the company. No one in their right mind would do that, because this is not their baby. So I'm in a bit of a pickle.
But in the meantime... staying busy.
Q: Have you
considered licensing your idea?
A: I don't feel like the brand has enough clout to license. But I do not know the first thing about licensing so that is on the board to look into... having trouble finding the time to get to it.
Q: ...or tried to sell to large retailers?
A: Of course! That is a whole world all it's own. Reaching the buyers (when you are an unknown) is difficult. Getting them to give you
real estate on their floor is more difficult. Getting them to get behind the product so they will see the sales numbers they want (which will get you the re-order) has been quite frankly, virtually impossible.
The product fulfillment and monitoring
chargebacks are jobs all their own. I am focusing on regional department stores with orders in the hundreds of thousands, not millions as a company my size could probably not fill a million unit order.
Making the product is no problem but managing the vendor requirements and actually fulfilling the order perfectly in every way to avoid
chargebacks requires that certain systems be in place. That kind of volume is something you grow into. So the trick is to somehow stay afloat through the growing stage.
From that angle. It's hard! But fun.
More pictures are coming soon but this beta version of Blogger is having trouble uploading them, dang it!
