Starting a new business comes with many challenges. From administration to marketing and customer service there are many aspects that need to be thought through. But before any of that of course, you need to have an idea of what your business is going to do, be or offer.
The luxury market is a difficult market. Ecommerce is very complex. When you put the two together you have a big challenge. So before we start, some thoughts on wanting to start a business within the luxury sector. When you think of ideas within Luxury, you need to think for the long term, because that?s what luxury is. If you want to make fast money you should probably get into finance. If you don?t care about what you sell but just want to sell a lot of it, then you should probably get into burgers. But if you have a passion to produce something that is really going to make people smile, be proud and want to be associated with you then luxury is your homeland. Those are the brands we love. And they all have that theme running through them. So with that said, we thought it would be helpful to outline what we believe are good starting points when considering the idea for your new business.
1. Talk to industry friends.
The first place to start is to listen and look at those in the industry and friends around you and try to learn and understand where there are limits within the industry. What are the pain points" This could be something for consumers or it could be for trade and business. You are lookin...