One of the most important things to think about when starting your beauty business is your budget. Your goal is to make money, and your budget affects every business decision you make. It’s important to make sure you take into account enough capital in your budget planning process to cover all of the costs involved […]
One of the most important things you can do to succeed in business is create a profitable niche. These 5 steps will help you create a profitable niche for a beauty brand, but the ideas are applicable to any brand in a crowded market. Another way of thinking about your niche is asking, “What is […]
A well-planned and strategic launch will give you the opportunity to build momentum, fine tune your branding, and start your business with paying customers. When my mother and I launched our beauty brand, 42 Dubonnet, our launch went even better than we had hoped. I’ll share a launch plan checklist similar to the one we […]
It’s important to develop an exit plan before you start your business. An exit strategy not only protects your investments, it also gives you peace of mind. By planning ahead, you can feel comforted by the fact that if things don’t pan out, you’ll be prepared. Play it out in your mind When thinking about […]
Funding options for your beauty business There are many options to consider when looking for ways to fund your business. Some of the options require more work, like applying for grants or running a crowdfunding campaign, while others require less work but carry more financial risk, like getting a loan or using credit cards. A […]
Starting your business with a co-founder means you’ll have more support and resources, but you’ll also give up some autonomy and financial benefit, since you’ll be sharing your profits. There are many factors to consider when making this important decision. Let’s consider the pros and cons. Is one the loneliest number? Benefits of having a […]
Where will your product be sold? Choosing a distribution channel is a process of considering many factors and thinking about your long term business goals. Finding the best distribution options for your product can have a huge impact on sales and the long term success of your business. New products, in particular, need the right […]
Think about your last purchase. Did any stories come to mind about the product or the company you were buying from? If you bought a dress, you might have thought about the luxury of the fabric and how you would feel wearing it on your next night on the town. If you purchased a cup […]