At Highstoke Media, we have learned that our passion is to support and partner with beauty entrepreneurs. We have experienced the feeling of uncertainty and doubt that came with setting up our own business. That’s why we want to share some insights and advice to help you make it as an entrepreneur.
Establish a clear business plan
A good place to start is creating your own business plan. Take your time to define your business advantages and weaknesses, what you offer; what makes you unique in the market. Also, don’t forget about focusing on the strategies that you will use to grow and create brand awareness in the industry.
In this stage, you should think about every possible scenario, which could happen in your business. The idea is not to be scared, but to be ready and create possible action plans. For example, in the case of a new confinement, what should you do? What is most important, how would you deal with it?
Be careful with financials – remember you’re just starting out
Cash flow is one of the biggest challenges for start-ups. In order to avoid unnecessary costs, you should resist the temptation to upgrade your office/studio to the max or have unnecessary expenses.
Whenever you make an investment, you must consider the benefits it will bring to the company and determine if you can afford it.
Don’t be afraid to ask for help
New beginnings are not always easy. When it comes to business, getting advice from people with a lot of knowledge can prove to be the best tactic. To be successful in this industry, it is not necessary to know everything, but rather to know that there will always be someone who knows more than you. Don’t be afraid to ask for help.
There are plenty of resources for networking, knowledge sharing, and advice available. Networking is more than just finding new business opportunities; it is also a great way to find support and ideas for the future. Please do not be afraid to seek advice from the people around you.
The best asset you have is yourself.
It is common for entrepreneurs to forget that each of us should take a break once in a while. Since it is your own business, commitment is greater, but you must rest, exercise; eat well, and most importantly, set boundaries. You do not have to work endlessly!
Take time to spend with your family and friends. Quality time can help you to breathe, oxygen the brain and can help you to be more efficient at your work. As an entrepreneur, you should forget working on your time management skills.
Here is a post where you can read why it’s important to take some time for yourself.
Always learn new things
Running a business is a continuous process of learning and growing. In addition to practical skills, you should also develop emotional capabilities. Browse free and low-cost online courses, try to listen to podcasts, watch TED talks or documentaries of your industry. There are also great conferences where you can learn up-to-date industry trends and network with like minded beauty professionals, like the Vegas PMU Conference.
It has been said that the only thing you have that cannot be taken from you is what you have learned.
Over the years, we have learned that each process should be enjoyed and now you are off to an exceptional journey. Don’t worry; we are by your side to help you.