Creating a Reputable Beauty Brand

While there are major retailers who dominate the beauty industry from a global perspective, you can develop a lucrative, reputable beauty brand on your own. If you’re really passionate about beauty products and love the industry, this might be a major sign that you’ll need to develop your own brand. Don’t get intimidated by the larger brands like Revlon and Estee Lauder. These companies have been around for many, many years. They’re not your competition. Instead, focus on what you can contribute to the marketplace. Once you’re committed to your lane, you can truly thrive. Consider the following components involved in building a reputable beauty brand.

Defined Product and Service Offerings 
Take a closer look at what you want to offer the marketplace. You might decide that you’d like to achieve global impact by starting a YouTube channel. You can develop an online presence with makeup tutorials and tips. If you’re selling your own makeup, use the makeup within the tutorials. Leave links for purchase within the description boxes of each video. If shipping and packaging items aren’t tasks you’d like to get into the habit of managing, consider the dropshipping option. You’ll be able to receive orders, automate the purchasing process and receive payments without dealing with a single product. As someone who’s managing the operations on their own, you can really benefit from the dropshipping method because it gives you more time to focus on other areas of the business. If you’d prefer to sell your services as a makeup artist or a hairdresser, you can use different sites like Instagram and Facebook to promote your artistry. Build a website for booking and contact information. When you do that, you’ll be able to redirect your potential customers from the respective social media platform to the booking area to reserve their slot. 

Business Legalities 
As soon as you make the decision to start your own business, make sure that you get your priorities in order. Develop a completely separate business bank account to cover your expenses and manage the money. You never want to mix up your personal and business finances. When tax time comes around, you don’t want to get in trouble because you didn’t keep track of the various expenses and line items. It’s good to find an accountant and a business lawyer to help you with any foundational issues business owners tend to run into. Between filing taxes, incorporating your company and copyright laws, it’s best to consult with someone who is well-versed in those matters. Make the investment to protect yourself. You’ll be better off in the long run. 

Support Staff 
When you’re first starting out, you might start as a one-person show. Not everyone has the resources to hire a team in the very beginning. This is totally okay. Don’t let it discourage you. Even though you might be able to operate on your own at first, you don’t want to rely on this ability forever. As you create your plans to build, earn income and develop a clientele, make sure that you make room for new employees, contractors and freelancers. You can start small with contractors who work for you based on a particular gig. It’s also a great idea to consider hiring virtual assistants and freelance copywriters to help you operate. Don’t try to work from a budget you don’t have. Set aside a certain amount that’s dedicated to the contractor you plan to hire in the next two months. As you make plans and slowly build, you’ll see the benefits of bringing more people in. As your workload increases, your profits should increase as well. 

Clear Goals 
Above anything else, it’s best to make sure you have clear goals for your company. When it comes to business management, a lot of entrepreneurs deal with numbers. Knowing this, it’s a great idea to attach numbers to various goals. If you’re managing multiple social media accounts, think about what you want your statistics to look like within a year. You can decide to build the Instagram following to 5,000 followers by the following year. This is a defined goal. You can look at where you currently are as well as the effort it will take to expand to 5,000 followers within a year’s time. You can break down that large goal into smaller goals across the next 12 months. Each month, you can do a collaboration with a different influencer. As that influencer exposes their audience to your brand, you’ll probably gain more followers through each interaction. After the first couple collaborations, take note of how many followers you gained. Depending on the average number, you can continue with the same plan or change it if it’s not providing the numbers you’re looking for. Clarity is so important because it’ll help you set reachable goals, monitor your improvement and build over a period of time.

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