FBI founder, Frances Harder made an interesting point about naming your company, at the Brand Building Seminar, she hosted at the ASR show today.

“When launching your brand try to avoid using your own name,” she cautions her audience.  “What happens if you go bankrupt, or get bought out?  You’ve just lost your name forever.”

While it may be tempting to see your name in lights, considering the possible consequences may just lead you to change your mind.

But, hey…if you love your name so much….and can’t think of one for your business that you find just as interesting maybe you can call mom and dad for some tips.  Just an idea…

Did you know if you’re a California Company with at least one employee you and your employees may be eligible for Free Job Skills Training through Fashion Business Inc.— made possible by the State of California Employment Training Panel.

Although California companies are required to pay into the program as a part of their business taxes…few companies take the time to cash into the programs extraordinary benefits.

ETP job skills training can be completely contoured to the needs of your apparel business.  Including Photoshop, Illustrator, CAD, PAD, Sales and Marketing courses at little to no cost to you.

To see if you meet ETP requirement for free or low cost job skills training at the FBI give us a call at 213.892.1669

MAGIC is here again!

If you’re attending the show make sure to stop by FBI’s free seminars on: Starting Your Own Apparel Business, Brand Building and Starting an Online Store.

Click here for a full listing of FBI’s Free Seminars at MAGIC.

See you at the show…

Is having debt in your company better than giving away equity?

Seemed like an easy question…I mean after all who needs more debt?

In the FBI Lunch and Learn seminar Debt vs. Equity, FTC Commercial Corp. President Ken Wengrod carefully explained the advantages and disadvantages of both financing methods.

My takeaway…. Giving someone equity in your business in exchange for financing is in essence making them a partner in your business. They’ll be concerned with the in’s and outs and have certain rights to your business and records that someone simply giving you a loan won’t necessarily have. They lose big when you lose big. They win big when you win big. This can be a very good or a very bad thing depending on who your equity partner is and what besides raw capital they are actually contributing to the business.

On the other hand, taking a loan from a person or entity is very different. They get their money back on a certain timetable no matter what. You do good…they get their investment and interest back…you do bad they are entitled to get their investment and interest back. It’s a lot more “hands off.” Again this can be a good or a bad situation. Especially bad if you do bad… Get it?

The main point….It doesn’t pay to make financial assumptions. In fact it does quite the opposite.

It’s important to understand what you need from both a human resources and financial perspective before making major financial decisions. Choosing debt vs. equity financing is too important to in any way be a caviler decision.

This crucial choice is an instance when working with a savvy financial professional could be worth it’s weight in gold….literally.

If you’re not currently living under a rock, you’ve heard the current sentiment about the U.S Economy. We may not be in a dreaded recession however, at the very least we’ve all noticed the effects whopping gas prices can have on discretionary income.

So how can your fashion business survive in a struggling economy?

According to consultant Dana Fried of Delphic Consulting Group there are many things you can do to understand your company’s finances and make them work for you.

His upcoming FBI Seminar “Projecting and Planning your Financials: Increase Your Chances for Survival in a a Bad Economy,” goes over specific steps you can take to manage and grow your business in any enviornment.

Learn how to reduce risk in manufacturing, control production and sample costs, create a sound budget, cash flow management plus more.

You may not have control of the economy but you can certainly get control of your company’s finances…

When: 10am-11:30 am–Wednesday, July 23, 2008

Where: FBI Resource Center, The New Mart, 127 E 9th Street, Los Angeles, CA

Cost: $15 for FBI Members $25 for Non-Members

For More Information: www.fashionbizinc.org or 213.892.1669

Register Now!

If you’re a fashion business owner it is very likely your business has become your entire life.

Between preparing for one collection to the next, traveling to trade shows and communicating with all your vendors you’ve probably been burning the candle at both ends.

So how do you create a work life balance?

Try this one-of-a-kind FBI Seminar with Personal Development Superstar and FBI lead consultant Robert Silverstone.
In “How to Achieve Work Life Balance” you will learn how to effectively bring your work and life into greater balance, including:

- Ways to plan and design the life and work you want
- Defining and managing your boundaries respectfully
- Techniques to improve your time management
- Practices to immediately implement your work and life balance

When: Thursday, July 17th 2008

6:00pm-8:30pm

Where: FBI Resource Center

Cost:  Member: $55  Non Member: $85

Click Here to Register Now!