BNAY - Tiamuk, Challenge #4

Tiamuk, Challenge #4:

"You will need to spend some time developing your business idea. One of the greatest advantages of being an entrepreneur is being able to work on something that interests you and that you are passionate about. Unfortunately, passion does not always translate into profits.

Brainstorming: Write down all of your strengths and weaknesses on a piece of paper. Include everything from work, knowledge, hobbies, music, art, etc. Is there anything you wrote down that you feel translates into a potential business idea?
Research, research, research! The more information you can gather about the potential demand for your product or service, about your competitors, and about the needs and wants of your prospective customers, the more successful you are likely to be.

Now that you have your idea, answer the following questions:
1. What is the name of your business?
2. Describe your business. What products and/or services will you be providing?
3. Why have you chosen this type of business? What skills do you bring to the table?
4. Where will your business be located? Please be specific.
5. Other than yourself, how many employees will you be needing (maximum of 5 for this activity)?
6. Who will be your main competitors? List at least 2.
7. What is your competitive advantage? In other words: why will customers buy from you instead of your competitors?

When you are finished, post your answers the Facebook group. Please be as detailed as possible, and feel free to provide any other information you think is relevant."

Challenge #4 - Brennan Googoo:

The name of my business is "Urban Tribal". Urban Tribal is a clothing business, (clothing brand) that provides todays modern stylistic lifestyle with a beautiful textile to compliment. We will jump into the extremely competitive business world of urban clothing. Though this is a very competitive market, that's not necessarily a bad thing. We will use the competitiveness to our advantage through the fact that the market and world of urban clothing is forever developing and aspiring in so many different ways as artists continue to express themselves through their art, which is textile designing.

Urban Tribal will differentiate itself from the crowd through its unique clothing style, mixing traditional native designs and style with the modern day style that clothing has taken today. Drawing deep and pure inspiration from the aboriginal peoples of our homeland, our planet. Rugged, worn clothing with a sumptuous touch along with abstract designs, inspired imaging resulting in a beautiful, particularly unique visual and feel. Anybody from all backgrounds and setting will want to get their hands on our new take on the urban clothing world.

I have chosen this type of business because I like to think of myself as a stylistic individual with an exceptional view on clothing and what it takes to run a business and run a clothing brand. I have a deep passion for both (entrepreneurial) business and the clothing industry. I strongly follow the clothing industry and I like to keep up with what's in, what's out, what's new, what's old and when and where certain things are a good choice in this area. I also have exceptional experience with different styles of art and textile(s) technology so I have a solid foundation when starting my own clothing brand.

I would like to have my clothing brand headquarters located in a rich, lively urban area, such as downtown Toronto or Fairfax Avenue in Los Angeles, California which is an iconic location in the urban clothing industry having been home to many current power house brands such as Diamond Supply Co. when they were first starting out, entering the fierce world of urban street wear. I think fairfax would be an amazing location and opportunity for Urban Tribal and a great test to see how we measure up in the industry and a great precursor for our future.

Other than myself, I will not need a specific number of employees but a specific number of positions to help support urban Tribal on it's promising journey to great potential. We will have a family of respectable, humble, ambitious and intelligent people (rather than employees). First of all coming from a wide rage of fashion and artistic backgrounds, we will have a team of graphic/product designers that will focus on the overall designs, visuals and feel of our actual product (which will be in high quality). We will also have a marketing (strategy) team that will focus on our overall market stature and focus on getting the brand out there marketing Urban Tribal to potential customers. We will also have a basic, yet very reliable operations manager focusing on our customers and making the best of their overall experience with Urban Tribal. We will also need a Financial team/officer who will look over our accounting work and financial(s) standpoint and which steps to take forward toward a brighter financial future. Lastly, but surly not last we will have myself, CEO/founder of Urban Tribal, Brennan Googoo who will watch over each team/section and generally watch over the brand as I fill in the cracks and cement our brand as a family of dream chasers with the main goal to make sure we put out the best product and experience to our fans!

Our main competitors would be a broader range due to our style scratching the surface of multiple styles of clothing and branding; with main competitors being clothing industry power houses such as Rook, Diamond Supply Co., Hollister, Abercrombie and vans; also local clothing brands such as East Coast Life Style and G.R.O.W. But I believe that in time we will be able to compete with these brands and an advanced level.

Urban Tribal is a family of dream chasers that will produce high quality, unique clothing with a fresh look on the industry. Urban Tribal is something new, something different and something that will take the hipster, urban clothing industry to a new level that it needs. Urban Tribal takes the boots of the hard working peasant, slacks of an average mediocre persons and the golden crown of a king mixing it into one affordable product that all will want to wear.