By: Kenneth L. Wengrod
I have a distinctive blend of insight after 30 years of financial consulting and venture capitalist work, specializing in fashion retail. My extensive experience and thorough understanding of the entire infrastructure behind launching a given brand, from design concept, manufacturing, importing to ultimately collecting sales have given me a financial acuity for startups and companies expanding.
Creating a viable, long-lasting company in any industry is a challenge, but in the fashion industry it is almost an anomaly due to the cutthroat fluctuations of fashion trends. After many years of observing the common pitfalls of truly talented designers and entrepreneurs, I was inspired to compile what I call the Ten Kenmandments. These list of principles are essentially what I’ve found to be the solid foundation a company needs to thrive and succeed. Groundbreaking designers who have followed these enduring principles have reaped the benefits of a successful, striving business, and prominent future.
1. Thou shall spend money as if it is your last cent.
2. Thou shall believe in your own instincts.
3. Thou shall question until you understand.
4. Thou shall be ready for change.
5. Thou shall surround yourself with people that have complimentary skill sets.
6. Thou shall understand that manufacturing of apparel is not rocket science, but it is creative science.
7. Thou shall understand what the consumers think and what they want and then inspire them.
8. Thou shall remove all negative energy around you.
9. Thou shall listen and understand the rules of engagement, then break those rules and create your own.
10. Thou shall invent the future, not predict it.