shAMA: Ask Me Anything – Episode 6
I’m so excited to answer your questions on ‘Marketing and the World Around It. To get your question answered on the show, write to me using the hashtag #shAMA!
Question 1 from Rudy Palma: “I’ve always dreamed of starting my own music agency. I book bands but haven’t had the courage to go full time. Any advice?”
Lesson #1: For a lack of courage: “No risk, no reward. Take the leap!”
Lesson #2: For a lack of resources or finances: “Explore the logistics of taking a leap into a new career.”
Question 2 from Christina: “I am starting a company called Kae Kae Global Fashion, which partners with independent fashion designers from around the world and imports their products for sale into the US. What you think would be my best marketing strategy?”
Lesson #1: “Fashion brands are challenging to market. Be creative with your products and consistent with your efforts.”
Lesson #2: “Develop a great PR strategy and leverage your assets across all channels.”
Question 3 from Sherry Morisch: “Do you think 2nd Life will take up a larger market share in online virtual reality environments?”
Future Prediction: “Second Life will pivot and rebrand with updated technology.”
Hey guys, welcome to another episode of Ask Shama, where you ask questions and I answer them. Let’s get started. Our first question comes from Rudy who says, “I’ve always dreamed of starting my own music agency. I book band but haven’t had the courage to go full time. Any advice?” Yes Rudy, I have advice for you. It sounds like you’re saying that you have the courage to go full time but is it really courage or resources or something else? That’s something that I would like you to really map out and think about. Are you really just scared that if you go full time you’re not going to succeed, or is it [inaudible 00:00:37] issue of courage and you’re not there in your finances yet where you feel comfortable making the switch from a full time position to starting your own business?
I think if you really look at what’s keeping you from going full time and starting this business you’ll have a much better way to handle that. Let me answer it both ways. In case you’re actually asking about real courage, meaning your business is already doing well, you’re booking bands, you just want to take that next leap, I’ll tell you in business there really is no reward without a certain amount of risk. If you feel like you’re good at what you do, you’re booking bands and if you could honestly say to yourself, “If I just give it more time and attention this could expand,” then by all means Rudy do it. Because you’re going to learn so much by stumbling from learning, don’t be a perfectionist, really continue to hone you business. It’s kind of like a living breathing thing if you think about it. If that’s really what’s stopping you, honest answer is you’ve got to jump in and do it.
If it’s not a matter of courage but really a matter of resources, where you feel like you’ve got a full time position, you have a salary, you have something stable and you’re making that leap, then it’s a different question. Then you actually just have to go back and do some basic math, what would it take for you to feel comfortable? Could you talk to your boss about coming back to work in 6 months if you like that wasn’t where you really wanted to put all your efforts. Or, how much would you need to have in savings to feel comfortable taking that leap? I think you really have to look at that and figure out your own balance, but I can tell you being in business for myself and being somewhat of a serial entrepreneur, there is no reward without risk, but I also believe in taking a calculated smart risk and doing it using your own parameters, which are going to be different that anybody else’s Rudy.
You have to figure out what are you comfortable with and what’s going to drive you, because for some people knowing that they could back to their job, that’s great, that lets them go all in and be very positive and approach it in a way where they’ll make it work. For other people, they need that safety net gone. They need to know that there’s no falling back and the road is just ahead and you’ve got to make it work. Rudy it’s time for some self analysis and figuring out what it is that makes you tick and what it is that you really want out of the business. I hope that’s helpful.
The next question comes from Christina. Christina says, “Shama I wanted your opinion about a business I’m starting called KK Global Fashion, which partners with different independent fashion designers from all over the world and imports their products for sale into the US. I have Facebook and Instagram set up as well as a website, but I want to increase my digital presence. I’m curious as to what you think would be my best marketing strategy.” All right Christina, you should know that fashion brands, it’s awesome that they’re independent fashion brands but they’re challenging to market. There’s a lot of competition out there, there’s a lot of great brands trying to stand out, so not only do you need creativity but you need consistency. It’s great that you’ve got Facebook and Instagram but also looking at your own eCommerce website.
Is it easy to do business with you? When someone lands, when you’re going to spend all this time and money driving traffic to the website, are people going to buy? If they’re not buying the first time they’re landing, are you collecting their email address? A lot of this is going to be you having to be persistent and you consistently staying in front of people. I also cannot more highly recommend a good PR strategy for a new fashion brand. Any time you’re launching a brand PR plays a huge role. Don’t just think about it as Facebook or Instagram but overall what are you going to do to get your brand out there. Can you leverage some of these designers? Do they have a following that they can share? Make sure that you are leveraging all your partners and all your vendors to get the word out there. Just a few quick tips for you.
All right, last question comes from Shery who wants to know, “Shama do you think Second Life will take a larger market share in online virtual reality environments?” I’ll answer in two ways Shery. I think that virtual reality and augmented reality are really the wave of the future. I don’t think it’s going to be common place until the next 2 to 5 years I’d say, but that’s definitely the direction we’re heading. Now Second Life, I have some serious concerns because I feel like it’s a interesting platform, but I feel like it was a little too early for its time. Here’s what I predict, I predict that Second Life will undergo a massive re-branding, an evolution of sorts, a revolution of sorts, and it will come out as something new. The technology by then will have caught up to it a little bit more. I think Second Life has a good shot but I think we’re going to see them doing a lot of pivoting.
Those are my answers guys, thanks for your questions. Be sure to subscribe, give us your email so we can keep in touch with you. I promise we make it useful, we make it effective. We try to make marketing as zen as possible for you, so be sure to subscribe. If you have questions ask me, you can tweet me, ask us on Facebook, on LinkedIn, we check all the platforms. Until the next time, market like a zen master.