Advertising
Advertising

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.

Advertising

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.

Advertising

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.

Advertising

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.

Advertising

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.

More by this author

Sasha Brown

Seasoned Blogger

11 Obvious Signs He Wants to Marry You 11 Signs He Wants to Marry You (Even You Are at the Early Stages) 11 Must-Follow Natural Health Blogs for 2017 11 Must-Follow Natural Health Blogs for 2017 11 Tools to Help You Keep Track of Your Remote Employees 11 Tools to Help You Keep Track of Your Remote Employees 7 Ways to Effectively Cope With Emotional Stress Seven Ways to Effectively Cope with Emotional Stress 10 amazon review sites that will get you really good deals 10 Amazon Review Sites That Will Get You Really Good Deals

Trending in Career Advice

1 Clueless On Your Career? Sabbatical vs. Career Break 2 9 Tips for Starting a New Job and Succeeding in Your Career 3 10 Essential Career Change Questions To Ask Yourself This Year 4 10 Job Search Tools Every Jobseekers Need To Know About 5 If You Have This Key Behavior, You’ll Be More Successful Than 90% Of People

Read Next

Advertising
Advertising
Advertising

Last Updated on August 20, 2019

How to Find New Growth Opportunities at Work

How to Find New Growth Opportunities at Work

Career advancement is an enticement that today’s companies use to lure job candidates. But to truly uncover growth opportunities within a company, it’s up to you to take the initiative to move up.

You can’t rely on recruiter promises that your company will largely hire from within. Even assurances you heard from your direct supervisor during the interviewing process may not pan out. But if you begin a job knowing that you’re ultimately responsible for getting yourself noticed, you will be starting one step ahead.

Accomplished entrepreneur and LinkedIn Co-Founder Reid Hoffman said,

“If you’re not moving forward, you’re moving backward.”

It’s important to recognize that taking charge of your own career advancement, and then mapping out the steps you need to succeed, is key to moving forward on your trajectory.

Make a Point of Positioning Yourself as a Rising Star

As an employee looking for growth opportunities within your current company, you have many avenues to position yourself as a rising star.

As an insider, you’re able to glean insights on company strategies and apply your expertise where it’s most needed. Scout out any skills gaps, then make a point to acquire and apply them. And, when you have creative ideas to offer, make it your mission to gain the ear of those in the organization who can put your ideas to the test.

Valiant shows of commitment and enterprise make managers perk up and take notice, keeping you ahead of both internal and external competitors.

Employ these other useful tips to let your rising star qualities shine:

1. Promote Your Successes to Your Higher-Ups

When your boss casually asks how you’re doing, use this valuable moment to position yourself as indispensable: “I’m floating on clouds because three clients have already commented on how well they like my redesign of the company website.”

Advertising

Tell your supervisors about any and all successes. Securing a new contract or signing a new customer should be a cause for celebration. Be sure to let your bosses know.

2. Cultivate Excellent Listening Skills

Listen well, and ask great questions. Realize that people love to talk about themselves.

But if you’re a superb listener, others will confide in you, and you’ll learn from what they share. You may even find out something valuable about your own prospects in the company.

If others view you as even-minded and thoughtful, they’ll respect your ideas and, in turn, listen to what you have to say.

Check out these important listening skills: 13 Powerful Listening Skills to Improve Your Life at Work and at Home

3. Go to All Office Networking Events

Never skip the office Christmas party, your coworker’s retirement party, or any office birthday parties, wedding showers, or congratulatory parties for colleagues.

If others see you as a team player, it will help you rise in your company. These on-site parties will also help you mingle with co-workers whom you might not ordinarily have the chance to see. For special points, help organize one or two of these get-togethers.

Take the Extra Step to Show Your Value to the Company

Managers and HR staff know that it can be less risky – and a lot less costly — to promote from within. As internal staff, you likely have a good grasp of the authority structure and talent pool in the company, and know how to best navigate these networks in achieving both the company’s goals and your own.

The late Nobel-Prize winning economist, Gary Becker, coined the term “firm-specific,” which describes the unique skills required to excel in an individual organization. You, as a current employee, have likely tapped into these specific skills, while external hires may take a year or more to master their nuances.

Know that your experience within the company already provides value, then find ways to add even more value, using these tips:

Advertising

4. Show Initiative

Commit yourself to whatever task you’re given, and make a point of going above and beyond.

Position yourself so that you’re ready to take on any growth opportunities that present themselves. If you believe you have skills that have gone untapped, find a manager who will give you a chance to prove your worth.

Accept any stretch assignment that showcases your readiness for advancement. Stay late, and arrive early. Half of getting the best assignments is sticking around long enough to receive them.

5. Set Yourself Apart by Staying up on Everything There Is to Know About Your Company and Its Competitors

Subscribe to and read the online trade journals. Become an active member in your industry’s network of professionals. Go to industry conferences, and learn your competitors’ strategies.

Be the on-the-ground eyes and ears for your organization to stay on top of industry trends.

6. Go to Every Company Meeting Prepared and Ready to Learn

A lot of workers feel meetings are an utter waste of time. They’re not, though, because they provide face-time with higher-ups and those in a position to give you the growth opportunities you need.

Go with the intention of absorbing information and using it to your advantage — including the goals and work styles of your superiors. Respect the agenda, listen more than you speak, and never beleaguer a point.

Accelerate Your Career Growth Opportunities

A recent study found that the five predictors of employees with executive potential were: the right motivation, curiosity, insight, engagement, and determination. These qualities help you stand out, but it’s also important to establish a track record of success and to not appear to be over-reaching in your drive to move up in your company.

Try to see yourself from your boss’s position and evaluate your promote-ability.

Do you display a passion and commitment toward meeting the collective goals of the company? Do you have a motivating influence with team members and show insight and excellence in all your work?

Advertising

These qualities will place you front and center when growth opportunities arise.

Use these strategic tips to escalate your opportunities for growth:

7. Find a Mentor

With mentorship programs fast disappearing, this isn’t always easy. But you need to look for someone in the company who has been promoted several times and who also cares about your progress.

Maybe it’s the person who recommended you for the job. Or maybe it’s your direct supervisor. It could even be someone across the hall or in a completely different department.

Talk to her or him about growth opportunities within your company. Maybe she or he can recommend you for a promotion.

Not sure how to find the right mentor? Here’s How to Find a Mentor That Will Help You Succeed.

8. Map out Your Own Growth Opportunity Chart

After you’ve worked at the company for a few months, work out a realistic growth chart for your own development. This should be a reasonable, practical chart — not a pie-in-the-sky wish list of demands.

What’s reasonable? Do you think being promoted within two years is reasonable? What about raises? Try to inform your own growth chart with what you’ve heard about other workers’ raises and promotions.

Once you’ve rigorously charted a realistic path for your personal development within the company, try to talk to your mentor about it.

Keep refining your chart until it seems to work with your skills and proven talents. Then, arrange a time to discuss it with your boss.

Advertising

You may want to time the discussion around the time of your performance review. Then your boss can weigh in with what he feels is reasonable, too.

9. Set Your Professional Bar High

Research shows that more than two-thirds of workers are just putting in their time. But through your active engagement in the organization and commitment to giving your best, you can provide the contrast against others giving lackluster performances.

Cultivate the hard skills that keep you on the cutting edge of your profession, while also refining your soft skills. These are the attributes that make you better at embracing diverse perspectives, engendering trust, and harnessing the power of synergy.

Even if you have an unquestionably left-brain career — a financial analyst or biotechnical engineer, for example — you’re always better off when you can form kind, courteous, quality relationships with colleagues.

Let integrity be the cornerstone of all your interactions with clients and co-workers.

The Bottom Line

Growth opportunities are available for those willing to purposely and adeptly manage their own professional growth. As the old adage says,

“Half of life is showing up.”

The other half is sticking around so that when your boss is looking for someone to take on a more significant role, you are among the first who come to mind.

Remember, your career is your business!

More About Continuous Growth

Featured photo credit: Zach Lucero via unsplash.com

Read Next