Tag: estimating demand

I was listening to an entrepreneur the other day who was in the process of coming up with new ideas for a clothing product. Would-be entrepreneurs get caught up in fantasies that their product or service is going to be converted into a dream profitable business. She spoke about what pattern design she would use, the fabulous textiles she will require and the modern designs that would knock the socks off potential customers. But when she started thinking through a plan she realised that estimating demand for her product would be crucial. Suddenly, she became gripped with fear as she realised that she could end up with a garage full of unsold smart casual wear. Continue reading “A start-up owner’s nightmare – a garage full of unsold product”