Developing New Business Ideas in the Clothing Industry

Entrepreneurship

TABLE OF CONTENT
Reflection.........................................................................................................................................3
REFERENCES................................................................................................................................1

Reflection
From one of my experience of life to make a presentation about developing new and
innovative business that helps in maximising profitability and market share in clothing industry. I
get to know that there are certain skill in me that helps in developing new business that can
effectively meet demand and needs of customers. This opportunity to develop new ideas helps
me recognising that I can become successful entrepreneur by thinking new and innovative
methods and solution to cater needs of every individual within firm. It helps me to know about
various skills and knowledge that I have to perform various function such as strategic and
creative thinking helps me in developing attractive innovative business idea to sale clothe
through websites (Shavit and Schwartz, 2017). Presentation made by me was also creative and
attractive as that was liked by most of the people, so I get to know about all such skills. On
another had I have knowledge about various recent trends in the market and needs of customers
that helps me to introduce such opportunity that can meet requirement of large number of people.
Thus, I got to know that analytical skills are good in me that helps to effective analysis and
evaluates, identify needs and want of customers. I have also able to learn difference between
vision and mission of company and use my creative skills to set mission of Fablane Couture.
Such as its mission is to make feel and look every women or man attractive and confident so that
they can show their elegance at social gathering. Whereas its vision is to provide innovative
design and qualitative clothing so that needs of customers are satisfied in better manner. Thus, I
came to know that mission defines objectives of company whereas vision are long termed goals.
It also helps in improving my thinking ways so that new ideas can be brought to make
presentation look attractive and appropriate.
Whereas creative thinking helps me to develop such a business that can enjoy
competitive positioning in the industry and increases level of competition. I have also got to
know about various different types of clothes for men and women and who they can be made
stylish so that meets needs of customers (Murphy, 2017). In the presentation I have also
prepared a customer persona of Leila and John stating their age group, annual salary hobbies and
their occupation. Customer persona helps in representing traits, characteristics of large segment
of audience that is supported by valid data and research thus helping in making innovative
thinking to meet needs of target audience. Therefore, it helps me in enhancing my knowledge
related to choice and preferences of large number of people pertaining to particular age group.