A Designer As Brand - Personal Fashion Business Plan As A Sample For Fashion Entrepreneurs Page 14
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78why the social needs are regarded as a powerful influence on fashion purchase is
because people want to look good. In the same study (Bohdanowicz and Clamp 1994,
p16) has indicated that McClelland also brings up three basic needs for human actions.
They are need for power, need for affiliation, and need for achievement. The varied
needs and motivations enable people to perform different behaviors to satisfy their
desires. Consumer behavior is how people please their different hierarchy of needs.
2.3 The Business Plan of Starting Fashion Business
2.3.1 Executive Summary
The Executive summary should get straight to the point by focusing on the key issues
and the bottom line so that the potential investors can immediately get an impression
for entrepreneurs’ new ventures without having to plough through the whole business
plan (BURKE, 2008, p54). Its purpose is to explain the basics of your business in a
way that is interesting and informative. There are also two other important aspects for
the executive summary. They are sale summary and a credible description of what the
product and service is, how the idea works, and what it will do for the clients and
customers who will make everything worth paying. The executive summary should
have an overview about the type of business and the business opportunity, and it
should depict that there is a market for the product and why it is unique, and provide
brief financial statements.
2.4.2 General business description
For the new business, entrepreneurs have to set out in details concerning time of
starting business, types of business, the vision images, the logos of business, the
company goals, adjectives, personal backgrounds, skills, and experiences. The
Competitive advantage may be defined as, the strategies, skills, knowledge, resources
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