The first challenges that must be conquered in starting up a business include finding the appropriate financing, the perfect concept, and the core demographic. Once you have successfully accomplished these fundamental aspects, and started making a decent profit for your business, a great thing occurs. Though growth is positive and essential, it can also be the most difficult part of running a business. If you do not know how to manage growth properly, you can have funding, a great concept, and the perfect demographic, but end up failing as an entrepreneur. As a fashion professional, how can you manage the many facets that are involved in growing a business? This question was answered in many different ways and by a variety of people in the Chicago Fashion Community at The Mayor's Fashion Council's Fashion Advisory Forum. This event was held in February of 2007, with representatives from St. John, The Merchandise Mart, Chicago Fashion Foundation, Gen Art, and many more. The room at the James Hotel was so packed that half of the attendees had to stand for the discussion. The attendants were all present for a mutual purpose: to support and be involved in the fashion industry in Chicago and learn exactly what part they will be playing in Mayor Daley's plans to “Showcase our local designers, our wonderful schools, all coming together with business to really foster this great industry.” The Fashion Advisory Council is made up of a group of people that were appointed by the mayor. The group contains 50% Chicago designers and 50% industry leaders in Chicago. The initial goal of the council is to “Identify what projects make the most sense to build a solid foundation on which to build.” Jeanne Ottenweller is a faculty member at the Illinois Institute of Art in Chicago. She stressed the fact that, “You can have the greatest idea in the world, but it doesn't mean beans if you cannot get it made quickly, efficiently, and effectively.” The council is here to identify these needs, and help connect designers and entrepreneurs with the right people that can help to make your ideas a successful reality. A directory for finding contractors will be available May 1st, 2007, through the (AIBI) Apparel Industry Board, Inc. Another crucial piece of information for designers is the fabric shows that will be in Chicago on May 24 th and 25 th. These shows will have over 200 vendors.
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“Nothing about being an entrepreneur in the fashion industry is easy,” says Jason Felger, the Managing Director of the Chicagoland Entrepreneurial Center. Designer Lara Miller follows by adding, “Funding is crucial to growing… and even starting up.” Most of us members of the Chicago Fashion Foundation can easily identify and understand the most challenging yet crucial aspects of being an entrepreneur in the fashion industry. 