Can I be one of the first to say “you made it” and I am so happy for you!
You proved your haters wrong and proved yourself right. I know there is a tendency for us to create New Year’s resolutions because we see it as an opportunity to start over or up your game. I, too, believe the New Year brings on new opportunities I can seize.
The problem is there are times when we still have so much noise in our heads and around us that we can’t focus on the most critical parts of our lives. This lack of focus is one of the main reasons we tend to fall back into our paradigms before February. The key to success is the focus.
The ability to zone in on what you want and never compromise on the expected results is essential to accomplishing your goals. I want to share with you ten ways to stay focused now to enable you to make $5K or more of your hair business. I believe you can make a lot more than that, but this article is going to help business owners who are overwhelmed, frustrated, about to quit or haven’t sought clarity on how to sell hair.
10 Business Tips For Your Hair Company
This information is so valuable that there will not be any music to listen to as you read this. I want to encourage you to establish a routine whenever you are preparing to complete any tasks associated with your business. Go ahead and get in a distraction-free area, have pen and paper, a daily planner or digital scheduler, a glass of sweet tea and a slice of red velvet cake (I believe anything can be solved while enjoying this delicious combo).
The following list of tasks is going to get you and keep you focused, I promise you! When you lose focus or get off track, you can always come back to this list and start again. Starting over doesn’t mean you are a failure. The key is you don’t quit. Now, let's countdown to the ten ways to get your business ready for the new year.
Create an affirmation for yourself and your family. It is a statement or an assertion that something exists or is true. I promise you when you speak transformation, success, and worth over yourself it manifests in your life. I truly believe our lives and the people as well as things surrounding us are a product of what we think, say, and the actions we take.
If you want more sales for your hair business you must speak it out loud. Say things like, “I will connect with amazing people today who will see the value in me and my business. They will spend their money with my company because of our excellent customer service”. You can even say, “I am worth so much more than where I am now. I will earn $2000 in sales because I will answer all potential clients questions and follow up promptly”. You may even need to affirm yourself and keep yourself encouraged.
Think just like Mary Jane of “Being Mary Jane” and post reminders around your home. Place a post-it on your door, so you can see it and recite it out loud before you leave your house. What about placing one in your bathroom mirror or fridge to observe and repeat as needed?
To start your family off on the right track for the new year I suggest you create a family affirmation. It’s a fun way to get the family involved in expressing what each wants to achieve. I do this with my family and it’s is an expectation (not a strict requirement) for each of them to recite every day.
9. Keep Your Finances in Order
It’s time to get your coins in order! The key to financial success of your business is to understand how your money flows in and out of your business. If you are robbing Peter to pay Paul it’s never going to make sense to you nor will you be able to see the full potential of your hair business.
I know you have read this before, but it is essential you open a business account for your hair business because you need to separate your house income from your business income and expenses. Don’t mix the two! I love PNC Bank because they focus on female entrepreneurship and it’s essential you create relationships that will grow with you as your business grows. Find out more about PNC’s initiative to help women in business here.
I also do business with my credit union because they usually have competitive rates and outstanding benefits. As a veteran, I conduct a lot of business with my credit union, and I encourage you to see if you qualify for an account with one. If you are a veteran, spouse, dependent or active duty military member Pentagon Federal Credit Union has been my bank of choice for my finances for over 15 years. You can find out their requirements by clicking here.
Also, evaluate the payment processors you use for sales. Many people use Paypal. I like using Paypal for my business. I know there are other options available, but I tend to stick with what works for me unless the processor lacks updated technology which will hinder quality customer service to my clients. I suggest you create a business account and not a personal account with them.
8. Surround Yourself with Business Minded People
To grow, you must surround yourself with like-minded people. I suggest you join Start A Hair Extension Business on Facebook! I’m so honored to be a part of this fantastic group, and I will tell you this is the place you should be if you are seeking to start or grow your hair business. I’m sure you are a member of a lot of groups and, if you are like me, you rarely engage in most of them. I promise you this team is always seeking ways to help you grow your business as well as answer questions about starting an online hair business. So make sure to check them out!
Stop keeping your goals a secret. I notice that a lot of entrepreneurs like to keep things to themselves because they don’t know who to trust. They are afraid someone will copy their idea, and they fear harsh judgment or criticism. I don’t want you to be this way because it can become counterproductive. Start networking at events in your local area. Go to Eventbrite, put in specific search criteria, and see which seminars or workshops resonate with you. You’ll be surprised at the new people you will meet.
7. Complete a SWOT Analysis
I need you to complete a SWOT Analysis now! Okay, I’m getting technical here, and it’s because this step is so crucial in establishing your business as well as positioning it for growth. A SWOT Analysis is a strategic planning tool to help you identify the strengths, weaknesses, opportunities, and threats to your hair business. This process is essential because it allows you to determine potential obstacles and areas for growth. For example, if one of your weaknesses is marketing you will need to connect with someone who is good with marketing.
The Facebook group is also helpful to teach you how to market your hair business. One of your areas of opportunities may be as a vendor during the Grammy’s in February (yes I dream big). You may choose to host a “Sip & Shop” or a pop-up shop to allow people to get to touch, see and feel your extensions.
6. Create An Office Space
You will need to set up your office if you haven't already. You will be amazed by what you can do with a small space such as a closet. You have what you need until you can get what you want. Do you have a closet that you can put a small desk and chair in to use a workspace? Do you have a corner of your bedroom to set up a little desk and chair? Do you have an extra room that you can use for a better purpose (i.e., your new office)? I love Pinterest because you can get so much inspiration from there and there are tons of DIYs on Youtube to help you set up a beautiful space on a budget.
Your office can be as simple as a desk, chair, and a document carrier to keep all of your paperwork organized. I like using cute folders and labeling them for specific tasks. I recommend you set up a system to reconcile your business expenses on a quarterly basis.
5. Create A Strategy
Create your sales strategy for the next 90 days. I can tell you one mistake most business owners make is going from idea to idea until one of them sticks. Truth is once you move forward with a plan you should stick with it until it is obvious it will not be successful, or you realize you will need to tweak it to solve a problem your target market has effectively.
Will you use brand ambassadors to increase the visibility of your company? If you want the best guide on how to establish them for your hair business check out this article, "How to Select Hair Ambassadors for Your Extensions Business".
Identify your weekly, monthly, and quarterly sales goals. Don’t be stingy with yourself either. This year is not the time to talk yourself out of what you want because you don’t believe you can do it. If you set those financial goals based on SMART goals, you will be successful. SMART goals are specific, measurable, attainable, realistic, and timely. I know this may sound difficult, but you can do it!
4. Know Your Product
At the end of the day, if you don’t believe in what you’re selling why should anyone else? If you don’t want to invest in your product to advertise it, why would you expect anyone else to take their hard earned money and spend it on your business? Gone are the days of the old bait and switch. People do business with people. The purchase is the icing on the cake after the relationship you create. If you’re natural, protective styles are the bomb, and the clip-ins are everything! The success or failure of your company begins with you! You are a walking brand so wear your product.
Your product and you need to be the best of friends. You are the owner of a hair business so wear your hair. Whether you’re rocking a wig or a sew-in you want to be the walking billboard for your own company. Even if you only have a sample kit , that’s better than nothing at all. Go ahead and buy your bundles and get to rocking your product.
3. Create A Business Plan
Whether you are starting your hair business from scratch or re-launching it is time you drafted your business plan. Look, I know there are differing opinions on whether you need one or not. I can tell you what I know to be fact and that is that if you want success for your business, you will have to do what most won’t do.
Someone may tell you he/she makes great money every month and doesn’t have a business plan. That is good for them but ask them the following questions:
- What’s your bottom line?
- How many of your key performance indicators have you achieved in the past 30 days?
- How do you plan to scale your business in the next 12 months?
- What are your sales projections for the next three years?
Surround yourself with people who are planning for short-term and long-term success because they can keep you motivated. Therefore, as tedious as it may seem, a business plan is necessary for any business. It serves as the roadmap for your business. In a future article, I will break down each part of the business plan. Make sure you follow Private Label Extension's blogs because you don’t want to miss this information with a printable download to use.
2. Get Tech Savy
You need to get tech savvy! Your business is going to depend on your ability to manage numerous platforms and areas of responsibility within it. One of the best platforms I have discovered is Sam cart. Sam cart helps increase conversion and revenue in a lot of ways. I like the order bumps option because it allows you to up-sell your client to another item he/she may not have seen or forgot to order. For example, a customer purchases the Brazilian Deep Wave Bundle deal.
During checkout, you can offer them a closure as an add-on purchase for a discounted price or remind them about your edge control which they can opt-in to purchase. You are also able to offer payment plans (which I know some hair business owners have asked about) to customers who want to put bundles on layaway. You can provide coupons, link membership subscriptions, and checkout popups. Check out more about Sam cart and make sure you take advantage of the free trial.
2B) Create A Facebook Group
Create a group on Facebook to share valuable information with your clients. If you need to find a way to communicate consistently with your tribe this is a great way to do it! In addition to communication, you can share promotions within your group before you release them to the public. Also, relationship building is so important and having the group allows you to create relationships. You can get to know the needs of your group members and provide the necessary information to them. This is a very good opportunity to establish yourself as an expert in the hair industry.
1. Create Content
It’s time to get in front of your audience! You can keep second guessing it but this is only putting off the success of your hair business! The product is not going to sell itself. People want to know the person behind the brand, and that’s you!
You need to be where your audience is. Going live and sharing stories on Instagram are good ways to connect with your followers if they are mainly on this platform. I love creating an experience around Facebook Live. Go live to share content on a consistent schedule that people can quickly follow!
I will be sharing an article specifically about hosting live videos but for now, make sure you select a specific space in your home to make sure you have an excellent background for your videos. Create a script before going live to keep yourself on topic. I create some of my videos on my Canon Rebel camera. Check out Shameless Maya’s video on how to set up your space for your recorded videos!
These ten tips will get you going in the right direction. Your success is going to depend on your dedication and commitment to the long-term accomplishment of your goals. You are in the driver’s seat this upcoming year.
There’s no time for excuses just solutions. There’s no time for distractions just opportunities for growth. There’s no time for fear only faith and focus. There’s no time for you to feel you aren’t worth what you wish to have.
You deserve it all, and it’s time to get it! I hope you experience more growth, favor, and manifestations in 2018. Remember to forget about proving your haters wrong. It’s time for you to prove yourself right!
Tell me which tip you are going to put into action now by commenting below. I want to know! Also, go ahead and take a picture of you creating your strategies for 2018. Share it on Instagram and Facebook and tag us @privatelabelextensions. We want to celebrate you as you continue on your journey of establishing and maintaining a successful and profitable hair company!