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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 25, 2020

15 Personal Goals for Work to Help You Succeed

15 Personal Goals for Work to Help You Succeed

It’s easy to blend into the crowd at work. The majority of workers choose to settle for mediocrity and anonymity; especially if they work in a large or virtual work environment. It’s much easier to go to work every day and contribute just enough to meet your job’s requirements than it is to leave a lasting impression on your coworkers.

What isn’t easy is standing out.

By setting personal goals for work, you can intentionally work towards getting noticed which will propel you towards getting your dream job.

Do not settle for mediocrity and do not settle for anonymity. Dream big and stand out from the crowd. Here are 15 examples of personal goals for work to help you stand out from your coworkers and lead a successful career.

1. Self-Mastery

Self-Mastery is all about deepening your awareness of your skills, strengths and weaknesses. Once you identify what makes you unique and what you’re most passionate about, use that awareness to develop your skills even further.

Use your awareness of your weaknesses to identify areas of improvement. By practising your self-awareness in these areas, you will demonstrate an ability to self regulate your development and growth.

2. Being Grateful for Where You Are

Take a moment and reflect on how hard you worked to get where you are today.

How many times did you apply to your job? How many interviews did you go through? How many hours have you put in?

You’ve worked hard to get to where you are today. Be grateful of all of the hard work you’ve put in to get you where you are today.

By practising gratitude, you open yourself up to receive what’s next.

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3. Staying Excited for What’s Next

The perfect vibrational stance to be in to be actively working towards your goals is to practice gratitude for your current situation and to feel excitement for what’s coming next.

Expect better things to come. Anticipate that you will accomplish your goal and that you’re working towards your dream job. Be open to receiving what’s coming your way next.

4. Celebrating Each Others’ Differences

As coworkers, we all bring different strengths to a team environment. Introverts bring deep thought to current issues and extroverts do well in busy meetings and discussions. The Myers-Briggs Type Indicator is an excellent measurement of personality differences and brings an interesting review of your team’s personalities interact with each other.

If possible, request to have an MBTI done with your coworkers so that you can learn more about your similarities and differences; or recognize the differences in your team’s personalities and appreciate that they each contribute different values to the group.

5. Using Your Team’s Differences to Your Advantage

Once you learn more about the different personalities on your team, you can work more strategically with your coworkers. Some coworkers may present as introverts who prefer to take time away to review information before making decisions. Other coworkers may present as extroverts who excel in group discussions and facilitating presentations.

Once you identify the different strengths of your coworkers, you can plan projects and group work according to each other’s personality strengths.

6. Managing Conflicts Effectively

If conflict arises between yourself and another coworker, take time to assess how you’d like to work through the situation rather than reacting in the heat of the moment.

Request a private meeting with the other coworker and present the facts in an objective manner. Initiate a practical conversation to discuss the issue of conflict and then find a mutually-beneficial solution together.

Doing so will show your coworkers and your boss you’re capable of dealing with emotionally-sensitive discussions while keeping a cool head.

7. Becoming a ‘Yes’ Person

Volunteer for new projects and special assignments. Be the first person to put up your hand.

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If your boss is looking for someone to step up, be the first to volunteer. It shows you’re engaged and gives you the opportunity to learn new skills.

8. Saying ‘No’ When Necessary

This may seem contradictory to the previous point, but this is not!

If you’re close to burnout or have a lot going on in your personal life, choose to say no to additional work if you must.

Be aware of your own mental state of wellness. If you’re incapable of taking on more, say no rather than saying yes and being unable to submit impeccable work.

If necessary, share with your boss privately that you’re not in the right place to take on work but you intend to get back on track and as soon as possible.

9. Showing Humility

It’s not possible to be perfect at everything all the time. If you make a mistake, own up to it.

Let your boss know or coworker know that you made a mistake and you want to correct it. Tell them that you have learned from this experience and you will do things differently going forward.

Practice humility so that you may demonstrate a willingness to do better.

10. Modeling Work Life Balance

Make your own self care a priority so that you’re allocating time out of the office to your exercise, health and nutrition goals.

Carve out time before or after work to taking care of you. Propose walking meetings during the day or try organizing a group fitness classes at lunch. Invite your coworkers to join you in trying a new yoga class.

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Show your coworkers that you’re committed to work life balance so that you can show up as your best self while at work.

11. Under Promise, Over Deliver

If you commit to finishing a project by a certain time, be certain that you will do what you said you’re going to do when you said you’re going to do it.

Do not commit to completing a project using an unrealistic time frame. If you’re unable to deliver, you will inevitably harm your reputation and will negatively affect others’ expectations of your abilities.

Rather than committing to more than you can accomplish, commit to what you’re capable of or slightly less so that you can over deliver on your promises.

12. Finding Your Own Answers

Rather than quickly turning to your coworkers or your boss when you have questions, do your best to find your own answers.

Review company policies, best practices and previous situations. Use critical thinking to determine how to best handle a situation and demonstrate that you’re able to make sound decisions when it’s required.

After doing your research, present the situation to your boss and share how you would handle the situation. Ask for guidance to see if you’re on the right track. By doing so you’ll demonstrate drive and ambition.

13. Asking for Help

If a situation arises that is above your pay-grade and you must ask for help or guidance, do so with humility.

Respectfully ask your boss or coworkers for their help. Let them know that you are grateful for their assistance and that they’re willing to share their knowledge. Offer to be of assistance to them if it’s needed in the future and repay the favor.

Here’re some tips for you: How to Ask for Help When You Feel Silly to Do So

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14. Offering Help

If you can see a fellow coworker is struggling, offer to help them out. Offering your help will demonstrate your ability to work as a team player.

If your workplace has hired a new employee, offer to take them under your wing and show them the ropes. Let your boss know that you’d be happy to show them around.

It will demonstrate your seniority in the workplace and your interest in fostering teamwork and morale.

15. Taking a Brain Break Regularly

Take a few moments whenever you can for a mini meditation. In the bathroom, the coffee room, or on the subway on your way to work, take a few deep breaths and center your mind.

Slow down your heart rate and tune in to your inner self. Remind yourself that work can be stressful but we don’t need to let the stress affect us. Return to this grounded and centered state whenever you feel out of alignment.

The Bottom Line

Use this list of personal goals to skyrocket your career path at work. Let your actions speak louder than words.

Demonstrate to your boss and your coworkers that you don’t intend to settle for mediocrity; you intend to stand out from the crowd and will do so by implementing personal goals and actively working towards your dream job.

More Tips About Goals Setting

Featured photo credit: NORTHFOLK via unsplash.com

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