Personal Development

15 Skills

Personal Development Station Objectives:

Upon successful completion of the Personal Development Station Module, students will be able to:

  • Understand the process that is involved in launching a label and running a business.
  • Create a cohesive ten-piece collection of original design.
  • Navigate the Maryland Fashion Institute (MDFin) facility independently.
  • Participate in MDFin events such as the ManneqART competition and the Art to Wear TV series

Your own label and own business vs. working for an established company

  • Ambition: changing the world
  • The Creative Drive
  • Recognition
  • Learning on someone else’s dime
  • Independence vs. security
  • 40 hours vs. 80 hours per week
  • Health care and child care
  • Etsy or easing in
  • Retail vs. wholesale
  • Head Hunters

Creating the Story

  • Creating a cohesive collection for presenting at Trade shows

Access to MDFin facility after hours

  • What can I use
  • When can I use it
  • Who will be here for me

Receivables

  • What are they
  • How long till payment is average in the industry
  • Ratio of Payables to Receivables for a healthy company
  • Late payments
  • Credit Card Payments
  • Working with Debt collectors
  • Working with Factors: industry financiers who take a % of receipts
  • Interest paid by banks on extra cash
  • Floating additional cash in the stock market

Additional Experiences with MDFin

  • ManneqART.org – Sculpture on the Human Form
  • Art to Art Wear television Series