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Idea Overview:
The clothing line Millionaire Mindset is a fantastic new addition to the market. With our one-of-a-kind products, we at Millionaire can help you achieve your desired fashion style. The Millionaire Mindset is based on the fact that humans live in a world of abundance, with new entrepreneurs rising every day. The t-shirts are for people who chase their dreams and work hard. This serves as a reminder to all businesses and individuals in general to have the mindset of a millionaire.
Who might use it/where it might be used?:
The millionaire mindset is intended at young people aged 17 to 25, who are in their early adulthood and have the potential to become millionaires. As a streetwear brand, it has an urban feel to it because iconic images are used to represent the youth, and young people are used as models in the clothing to give it an urban feel. It can be worn casually in social settings such as house parties, skate parks, and casual day-to-day outings. It can also be worn in the gym.
The Market (B2B, B2C or Both):
Business to Consumers (B2C)
Sector the idea belongs to:
Retail
Why you think there is a demand for your idea?:
As long as humans exist, the need for clothing will be in demand, which means there will always be a gap that needs to be filled. The only way for me to stand out is to have niece that make me stand out, one being millionaire mindset, a street wear brand pushing a positive message while having an urban look, have an instgram that is steadily growing, and I interact with all customers who and ask customers questions about the clothing already seperating me as I have connection with supporters.To improve and flourish, I would require a limited partnership that would allow me to explore new design concepts as well as discuss other marketing strategies.
Who would be the ideal customers?:
The ideal customer is a young person who is either in school or working and enjoys listening to hip hop and wearing streetwear clothing. These people are typically from the middle class, but they can also be from the lower class because the clothing is affordable.
What ideas do you have to reach these customers?:
According to YouTube research, one way to grow a business is to show customers what you're all about and create a journey by experimenting. I noticed that when I made videos, whether showcasing a day trip or announcing my website realese it permofred well meaning people want to be entraiteed, so ideas like video/photo shoots and making behind the scenes photoage of what goes on makes a connection and makes customers want to see your business succeed.
How far have you developed this idea?:
The development of a millionaire mindset is that I created an Instagram page that now has 115 followers and was created 2 months ago with some professional pictures of people wearing the clothing, and a website was then launched in under 2 weeks with only 3 sales. That is the most up-to-date news about small businesses.
What – if any – feedback have you had for this idea so far?:
The feedback I get from my Instagram followers is mainly positive, with a reasonable like ratio of about 20-30 likes each post, but the most common topic of conversation is the tracksuit's release date, which people appear to be keen to get their hands on.
What supporting material – if any - would you like to add to your proposal?:
I’ll just send links to the site and you can come up with your own conclusions https://millionairesmindset.co.uk/

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11 comments to “Millionaire mindset”

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  1. Tim Strege - July 5, 2022 at 9:48 am

    You have a popular term – “the millionaire mindset” – that needs something behind it such as a do-it-yourself philosophy described in an article or book; a musical theme; a brand worn by a noted trendsetter or other relationship to an idea or person. The design(s) must be “one of a kind” not found elsewhere or duplicable (so you will need some intellectual and logo property protection). Since the clothing sector is multi-faceted, who will manufacture? Who will transport? How will products be sold (assignment or cash up front)? How will your enterprise be organized to span the multi-continent marketplace? You have a good starting point with your Instagram followers to further develop and test this idea.

    • Antonio Ferreira - July 31, 2022 at 5:56 am

      Thank you so much for your feedback. I apologise for the delay in responding; I did not see the notification. I started this project on my own and had no prior experience with business, but I’m not making excuses; I simply need partners to help me with advice and guidance. However i did make a website people order from the website link in my bio That was my starting point, all the other stuff mentioned i will have work on whilst on the journey

  2. Trudi Hamer - July 6, 2022 at 10:06 am

    It’s great to see that you create ‘hype’ about new products (such as the tracksuit) before they are released. The challenge for you in turning that into sales. Have you thought about offering incentives to your followers for introducing new people. What other tactics do you have for increasing your audience?

    • Antonio Ferreira - July 31, 2022 at 5:48 am

      Thank you so much for your feedback. I apologise for the delay in responding; I apologise for not seeing the notification. I started this project on my own and had no prior experience with business, but I’m not making excuses; I simply need partners to help me with advice and guidance.

    • Antonio Ferreira - July 31, 2022 at 5:52 am

      Thank you so much for your feedback. I apologise for the delay in responding; I did not see the notification. I started this project on my own and had no prior experience with business, but I’m not making excuses; I simply need partners to help me with advice and guidance. However i have spent money for models to wear it and also i had a rapper wear it.

    • Antonio Ferreira - July 31, 2022 at 5:54 am

      Thank you so much for your feedback. My apologises for the delay in responding; I did not see the notification. I started this project on my own and had no prior experience with business, but I’m not making excuses; I simply need partners to help me with advice and guidance. However i have spent money for models to wear it and also i had a rapper wear it and i made a hype and made people guess before i posted him on my page helped with likes but not so much with sales

  3. Richard John - July 6, 2022 at 11:21 am

    I assume these will be premium products – to live the brand value. And can it be separated into casual/smart casual/gym wear?

  4. Simon Krystman - July 12, 2022 at 3:32 pm

    Hi Antonio, please could you upload your Canvas and Customer Persona’s

  5. Peter Illes - July 25, 2022 at 3:14 pm

    Hi Antonio! Instagram likes and other social media interactions are nice to have, but they are not “hard proof” of interest. It’s very different to like something, and pay for it with hard-earned cash. Why not create a simple webshop and start selling them? You might lose some money at first, until you start producing in large quantities, but it will give you a good indication if people are committed enough to buy.

    • Antonio Ferreira - July 31, 2022 at 5:49 am

      Thank you so much for your feedback. I apologise for the delay in responding; I did not see the notification. I started this project on my own and had no prior experience with business, but I’m not making excuses; I simply need partners to help me with advice and guidance. However i did make a website people order from the website link in my bio

  6. Mark Cardwell - September 9, 2022 at 3:23 pm

    I think that, at least to begin with, you’re not particularly trying to differentiate on quality of manufacture – I’m guessing you’re using a supplier who prints clothing items, and that’s how you’re able to do short production runs and allow your customers to vote on designs? That’s a neat technique, though it does mean your range is fairly constrained, and your input costs are relatively high. On the other hand, you don’t have to worry about being stuck with stocks of unsold goods if you misjudge demand (which is inevitable some of the time). I guess the big question is whether customers will be prepared to pay quite high prices for your items. And since you already have your e-commerce website, you’re well-placed to find out! (By the way, you may need to be careful with the “Millionaire Mindset” wording – it looks like someone has a UK trademark on that – but maybe it’s you?)