11 lessons from failed

fashion start up

2.5 years ago I had an idea

make trousers for tall skinny

guys

2 years ago I quit my job

Moved back from Sydney to Riga

Started work in industry I know nothing about

18 months ago I launched my brand

Skinny Latvian

I started selling some pants

People liked idea and social media

was buzzing

Today I called it quits

I’ve failed

I’ve lost faithin my own brand

And once you stop believing

The party is over

Here are 11 lessons

I learned along the way

1

Niche too niche

Everyone tells you to focus, be different,

don’t go mass

Well, I took it tothe next level

I only targeted 5% of population

Guys had to be above 190cm

Girls had to be above 175cm

And you had to be skinny

Plus, you must like color

And premium products, made

in Latvia

You see whatI’m getting to

Audienceof 1

I was making pants for

myself

2

Quality Control

Consistent sizing

matters

I made 3 collections

And still could not get labels

and sizing right

People want consistency

3

Your opinion does not count

You are not objective

You do not know what people

want

Making stuff that you like is not

a business

It’s a hobby

4

Name lame

Skinny Latvian

I liked it

It’s quirky

Danes didnot like it

Guess what they wanted?

Skinny Dane

5

Emotional vs. physical

discrimination

95% of surfshop customers

never surf

They just want to look like surfersto pick up chicks

That’s emotional discrimination

It’s fine,brands do itall the time

Now, telling that you have to be tall & skinny

That’s physical discrimination

People don’t like it so much

6

ROI or go home

You’re not Twitter

Investment has to deliver return

Or have clear plan of doing so

in6-12 months

I’ve got 0.5 ROIon my

investment

I invested20,000 USD

and got10,000 USD back

That’s like going on a 10,000 USD per year course

of entrepreneurship

Cheaper thanINSEAD

But still not a viable business

7

Buzz and success is not the same

Magazines wrote about me

Radio would interview me

Mum was proud of me

But perception is not reality

Your Instagram post is

perception

Your Google search history is

reality

You know the difference

8

100% commitment

80% is not enough

90% is not enough

Are you willing to sacrifice

everything else for this?

Your dinners with friends?

Your PlayStation?

Your holidays?

I thought I was

Until I actuallyhad to do it

Fashion industry is a bitch

Like Acting

Music

Or photography

You have to be 100% in it

For the long haul

9

Actions not words

“It’s cool”does not sell

I heard“cool pants man”

An mistook it for“where canI buy them”

Everyone lovesmy Iron Man

cords

But nobodybuys them

They say “It’s not for me”

10

A lone wolfgoes hungry

You need to flank your pray

And know when the deer is too

big

I was hunting alone

If I had a business partner

She would provide another

perspective

She would question my

choices

And help me avoid investment

traps I got into

Get a business partner

11

Stock is death

I made 600 pairs of pants

I’ve sold 300 pairs of pants

I’ve got 300 pairs of unsold pants

This is what kills me

Death by300 pants

Ironic, right?

Do I regret doing any of this?

Hell, no

I learned so much

Of what not to do

Just kidding…