Paul Smith's 10 Tips On How To Build A Successful Brand That Lasts

Ahead of the final round of the BFC/Vogue Fashion Fund selection process, Paul Smith invited the seven finalists to stop by his London studio to pick his brains on how best to prepare and what it takes to play the fashion long game. Charles Jeffrey LOVERBOY, Grace Wales Bonner, Rosh Mahtani of Alighieri, A.W.A.K.E Mode’s Natalia Alaverdian, Neous and former Fashion Fund finalists Rejina Pyo and David Koma left Smith’s Covent Garden headquarters one step closer to taking home the grand prize of £200,000 and a year-long mentoring scheme dedicated to helping them build their brand. Here’s the crux of what he told them.

Life doesn’t have to be a business plan

When I started out I didn’t dream of having fashion shows or having a business that sells in over 70 countries. There was no five-year plan (and in fact there still isn’t!), I’ve always just wanted to do a job that I looked forward to waking up to do every day. I’m very lucky that I’ve managed to achieve that. I think a positive outlook and an open mind are as important as anything else when it comes to running a business.

It’s not always about rocket-style take-offs

When people ask me when my business “took-off” I never really know what to say. I never had a moment of sudden success, it’s always been a very organic and steady kind of growth and that’s meant the business has been able to evolve gradually and build solid foundations.

Remember, nobody needs another designer!

I often say “nobody needs another designer”. I don’t ever mean that in a discouraging way, it’s just the industry is becoming more and more over-supplied. When I first started out as a designer there was only a handful of other designers fishing from the pond, over time the pond hasn’t grown that much but the number of people fishing from it has increased enormously. That means if you’re going to be in this business you have to be prepared to commit 100 per cent, otherwise there will always be another fisher willing to work harder than you.

You need a point of view

Given the competition that’s out there you need to make sure you have a clear point of view, something that differentiates you from everyone else and gives people a reason to come to you. What are you going to bring to the table that isn’t already being done cheaper/louder/better by someone else?

Quality is key

My wife Pauline studied couture at the Royal College. When I first started designing clothes, it was Pauline who explained to me the importance of quality; about pad-stitching, about having the optimal number of stitches. This meant that from the very beginning I never compromised on quality.

Keep your feet on the ground

With Pauline’s help, I’ve never let any success I’ve had go to my head. I’ve always kept my feet planted firmly on the ground. The second someone in my position vanishes into an ivory tower they lose all contact with the people that are paying their bills… the customer! I spend a lot of time working in my shops speaking to the people that put me there and understanding what they want and sometimes more importantly, what they don’t want!

Learning by doing it

Over the years I’ve done more or less every job in the business. I’ve packed boxes, visited factories, swept floors and cleaned the loos. I know that VAT doesn’t mean vodka and tonic and I know that if you put umbrellas in your window when it’s raining outside people are much more likely to come into your shop. My recommendation to young people starting out the industry is roll up your sleeves, get out there and learn the ropes. Immerse yourself in the world in whatever way you’re able to; get a job in a shop and learn what goes into selling clothes, shadow a designer and learn about all the different hats they wear, do anything to get your foot in the door.

Know the rules and then you can break them

If you understand the rules of what you do when you’re in a much stronger position to play with them. Palladio was the master of proportion and many of the lessons we can learn from him can inform the perfect design of anything; from a tailored jacket to a pair of cargo pants. By understanding the rules of proportion and getting them right you can then create something new! What does a dart do? What happens if you have a floating canvas as opposed to a fused canvas?

Effort is free of charge

I’m a big fan of effort. In my shops all over the world there are examples of effort – in my Mayfair shop there is a room filled with thousands of hand-applied dominoes. In my Kings Cross shop, there's one with thousands of hand-applied Japanese yen coins. Of course there is a cost involved in both of those things, but really it’s the effort that gets people excited.

Never assume

This is my company motto and over the years it’s saved me an awful lot of headaches. By “never assume” I mean check, double-check and triple-check things, there’s no harm in it and it could save you from disaster!