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10 Steps to Grow Your Beauty Supply Venture into a Successful Business

10 Steps to Grow Your Beauty Supply Venture into a Successful Business

Beauty supply businesses will stock all types of products for hair and skin, as well as cosmetics. These types of stores are common in most cities large and small, and are on the internet as well. If you are interested in starting your own beauty supply venture, follow these steps to help with your success.

Have a Business Plan

This is what should be done first and foremost. Plan the first, third, and fifth years. The business plan needs to be in depth and needs to be reviewed every year. A good business plan is essential if you need to borrow money, and it also comes in handy to remind you of your business goals and to see just how much you have achieved.

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Business Type

Will you be acting as a sole trader or will this be a limited company? Will the business be mobile, home-based or on a rented commercial spot? Depending on where the business is based, you will find different considerations. For example if working at a home-base you will need to notify the mortgage provider and insurance company to ensure that it is legal to set up a business at home. You will need to also register with the local counsel and apply for business license.

Name

What will your business name be? When you choose a name you must check with the IPO (Intellectual Property Office) that it is not already registered or has a registered trademark. Remember that your company should have a long-term plan, so the name should be quirky and memorable. When the name begins with the letter that is earlier in the alphabet, the higher it will be listed in directories.

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The Budget

Will you be needing a loan? If this is the case, how are you afford to pay it back, are you aware of the loan terms, do you know what the interest payments will be? What equipment do you already possess? What will you need to buy? You’ll need to factor in equipment costs and budget outlay when you are compiling a cash flow outline.

Insurance

Having the proper insurance is extremely important and necessary in order for you to work. It is there for not only your protection but the protection of the clients. You have to obtain public and product liability insurance as well as professional indemnity. In order to keep this up-to-date, you have to send copies of any new qualifications that you have obtained, so that you can remain covered for everything that you are offering.

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Treatments, Pricing, Products

Decide which treatments you will offer and price them accordingly. Choose the products that you will be using, and stock up on any retail that you will carry. It is suggested to only have a small about of retail as it is “dead” money.

Finance

Be sure to set up a bank account and consider which types of payment you’ll be taking and how you will keep a log of the transactions. Register for the HMRC within the first few months of trading. Get a good accountant, and set up a cash book to record daily income and expenditures.

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Customers/Managing

Think about how you will advertise and manage the business. What about a website? The best way to build a website is to utilize free templates. There are plenty of companies on the internet that provide free templates, which is very cost-effective especially for someone who is just starting out and funds are tight.

Web-based applications also assist business owners to automatically manage their businesses online and give them freedom to utilize additional time to do other important tasks. A web app developer can assist in this case, or there are plenty of app development platforms persons can use to build a DIY mobile or web app in minutes.

Competitors

Stay aware of the competitors, products, services, promotions and offers, new trends, new treatments and techniques, etc. You should have a unique selling point. This is what will set you apart from everyone else. You should be aware of this when you’re writing your business plan.

Wholesale Accounts

You should open wholesale accounts with the distributors and manufacturers of beauty supplies. You can call or email the companies with a list of products you would like to sale and ask how to obtain a wholesale account. Generally you’re required to provide proof of being in business to get the discount.

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Last Updated on February 15, 2019

How to Achieve Goals and Increase Your Chance of Success

How to Achieve Goals and Increase Your Chance of Success

Does it ever feel like the things you want to accomplish always end up on the back burner? If the answer to that question is “yes,” you’re not alone. Only about 33% of people consistently work toward their goals. In some cases, their goals may seem too lofty to accomplish, or else they aren’t sure how to make a plan for them.

If you don’t come up with concrete steps to take toward your goals, they’ll remain dreams. There’s nothing wrong with being a dreamer, but being able to turn your dreams into goals you can realize will help you lead a happier and more fulfilling life.

Luckily, you can realize almost any dream when you harness the right goal-setting methods.

In this article, I’ll show you how to achieve goals and get closer you success.

1. Break your dreams down into specific and measurable steps

We couldn’t talk about goal-setting without mentioning SMART goals.

SMART goals are specific, measurable, assignable, realistic, and time-related.

Specific and measurable steps are so important because if we don’t know what our target it, how can we ever hit it?

Take all those beautiful dreams you have for yourself and make them into things you can actually do. If you want to be an entrepreneur, for example, a step toward realizing your dream might be researching what you’ll need to start your business.

Find out more tips about utilizing SMART goals here:

How to Use SMART Goal to Become Highly Successful in Life

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2. Have at least one clearly defined goal for every interest and role in your life

It’s so easy to become complacent or stagnate. We often think that our careers are the only places where we need to set goals, but we aren’t only what we do.

To make the most of your life, take the approach that you’re always learning and growing in everything you do. Anything worth doing is worth doing well after all.

Set goals whether you’re sponsoring an activity for your child, taking up guitar lessons or trying to prove your worth at work.

You’ll notice that this approach forces you to constantly develop new skills. It can also be fulfilling to put more focus and value into all areas of your life— not just the ones related to our careers.

3. Align your goals with your life’s mission, purpose and passion

Take the opportunity to do some soul-searching. What is it that you want to do with this precious life of yours?

Anything that conflicts with your life’s purpose is bound to cause discontent. Staying in a bad relationship, doing a job that goes against your values, or maintaining the status quo just because it’s comfortable are not options for you.

Thinking about your goals in this way can help you eliminate things in your life that don’t serve you. This frees up mental space that you can use to do the things you care about the most.

Many of us struggle to find the time to work on our goals, but this strategy enables you to make more time.

4. Create goals that ignite your spirit and inspire you to take action

If you can’t be fired up about your goals from the start, they might not be good goals for you.

The road to success is often tough. You’re going to have times when you might feel tired or discouraged.

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You need to feel inspired enough that you’ll be able to overcome obstacles as you encounter them.

If what you’re doing motivates you to be the greatest version of yourself, you’ll be much more resilient.

5. Write down all your goals in specific, measurable detail

This is your road map for what success will look like. The more you define what you want the finished product to be, the greater the chance that you’ll reach that vision.

When you write down your goals, you’re creating a document that you can revisit to make sure you’re on track.

When you’re in the middle of trying to achieve a big goal, it can be hard to see what’s working for you. The things you write in this step will help you stay on-message as you take your goals out of your mind and into the real world.

Don’t just write down your goals and stash them away in a folder somewhere. Take the extra step to put them somewhere where you’ll see them.[1]

If you have too many goals to post on your desk, write a summary or choose one or two steps to work on for the day. Just seeing them will keep them in the front of your mind.

6. Commit to hitting each of your targets without exception

You wouldn’t have created the target if you didn’t think it was necessary. Hold yourself accountable for taking the steps to succeed.

You can always adapt your strategy or break your targets into smaller steps if you find that they aren’t attainable as you originally wrote them.

Hitting even the smallest target is cause for a celebration. It’s a step in the positive direction. Your success will make you crave more success.

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We often make excuses when we get tired or overwhelmed. Take away the option to make excuses. You will only be satisfied with the best effort from yourself.

7. Share your goals with others to motivate each other

There’s something so powerful about people sharing their goals and dreams with one another. Doing so gives voice to some part of us that could remain hidden (and therefore never be accomplished).

When other people know about your goals, they can cheer you on and hold you accountable. When people share their vision with you, you can do the same for them.

This strategy is particularly beneficial when you’re trying to develop healthy habits. Post about your workout on social media, or do a healthy eating challenge with your best friend. You’ll be less likely to slack when temptation arises, and you’ll probably encourage someone else to reach for their goals too.

8. Set a series of daily, weekly and long-term goals, complete with starting times and deadlines

Many goals never reach realization simply because the goal-setter doesn’t check their progress. People tend to forget what they set out to do, or their goal gets crowded out by other obligations.

Forcing yourself to revisit your goals at regular intervals breaks them into smaller steps and it reminds you to think about them.

Giving yourself regular deadlines for smaller tasks related to your goals also helps you reflect on your strategy. You’ll figure out what works for you, whether your timeline is realistic, and whether or not you need additional help to stay on track.

In addition, celebrating small wins helps you stay motivated. Here’s how:

How To Celebrate Small Wins To Achieve Big Goals

9. Take 10 minutes every day to imagine how great it will feel to achieve your goals

Visualization is such a powerful tool. Some of the most successful athletes, celebrities and business people take time each day to think about how success looks and feels for them.[2] Imagining that feeling of satisfaction can be a great motivator.

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When you do meet your goals, take some time to be grateful. Thank yourself for showing up and doing the work. Be grateful when the stars align properly to help you advance to the next step.

It’s not just getting to the destination of your goals that matters. How you take the journey is important too.

10. Take an action step toward reaching your goals every day

Your goals can easily get buried in the hustle and the bustle. Even the smallest step in the right direction is still moving you forward.

Keep chipping away at the work every day and before long, you’ll start to see those dreams come to life.

Maybe you didn’t start your business today but you designed the logo that’s going to go on your website and business cards. Doing that task well is going to help you so much in the long run.

Concrete actions day by day draw your dreams out of obscurity and into the realm of possibility.

The Bottom Line

Dreams can inspire and overwhelm us. By turning our dreams into goals that we can work toward, we increase our chances of success. Things that once seemed impossible are suddenly within reach.

It’s time to start turning your dreams into goals and your goals into realities. Change begins today.

More Resources About Setting & Achieving Goals

Featured photo credit: Andrew Neel via unsplash.com

Reference

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