Should You Start an Awesome Beauty Business in a Down Economy?

May 12, 2020 ( Posted By: Juliette Samuel )

Start an awesome beauty business. While the economy might be challenged, and that’s putting it mildly, there’s no better time than now, to start your awesome beauty business. After all, you’re going to start at some point in time. Why not here and now?

Why Do People Start Businesses in General?

They’re following their passion … looking for a way to help others … running feverishly to get away from managers that have gotten a little clout and abuse it.

A lot of you were toying with the idea of starting a business before you were ordered to shelter in place and work from home.

You’ve chosen the field of beauty.

Have you already started dabbling … making products, selling products that others make? How do you want to enter into this space known as the world of beauty?

Your Awesome Beauty Business. Let’s Write It Out.

Sit down with pen and paper.

Yes… step away from your electronic devices. Sit in the sun and begin to write down what you see for your business.

  • What do you like about the beauty industry?
  • What do you want to contribute to this space?
  • Is this a budding idea you have to start a beauty business? Or is it something you’ve been contemplating for a while?
  • Why are you honestly starting your beauty business?
  • What product do you want to sell? Is it already being sold? If so, how will you enter the market differently with your product?
  • Have people asked or paid you for what you make or sell?
  • Have you outlined to the best of your ability, all of the steps that you deem necessary in order to start your business?

Beauty in a Down Economy

There was a time when lipstick was the go to product in a recession, depression, down economy … however you want to phrase it. We’re working our way through a global pandemic which has stopped the world in its tracks. The global economy has come to a halt. It has forced the wearing of mask every time we exit our doors.

What does this mean for lipstick?

You guessed it. No one will be wearing lipstick for a while with the Coronavirus and Covid-19 still very present in the world. Mask are part of the new normal. So … starting a company that sells lipstick, will not be the best product to offer at this time.

Pivot your focus. What about lip balms and moisturizers? Lips still need attention under all those mask people are wearing.

The Beauty Industry Has Changed Find Your Space

Not only has the beauty industry changed, the clients you serve have changed. Take a look at what’s being written in the beauty space. The language is about clean beauty, organic and natural ingredients, a basic skin care regimen.

This is suggesting that caring for the skin is more important at this point that wearing a lot of makeup. If make up is worn it will have to fit into the categories mentioned above.

Pivot, turn your attention to offering a product that will better the condition of your potential client’s needs. Lots of research will need to take place before you take your leap, especially starting out now.

Don’t let it scare you though. Keep moving towards starting your business. Know that it will need to be digital. This presents another learning curve for you.

Going Digital With Your Awesome Beauty Business

Taking your business online will allow you to sell outside of your immediate environment. It presents you with an opportunity to gain feedback from visitors and purchasers alike.

They will tell you what they want. Your job is to listen.

There are many steps to going digital with your business. In the beginning you will wear many hats. A down economy requires that you be very frugal with your resources. Any economy does actually.

Starting out, you will need to test the waters so to speak, even if you know your product was selling before the global economic shutdown.

  • You’ll need an understanding of the Internet and how it works.
  • Learning to understand how Google Analytic works to keep up with your metrics is crucial.
  • You’ll also need to understand how to write copy and content. These are two different things.
  • The ability to outsource will help you grow and get grounded faster. However, if your budget doesn’t allow for hiring out certain jobs, you’ll be doing them yourself. This is the case for most entrepreneurs. You wear a lot of hats.

Don’t Get Paralyzed By Fear

What typically stops most people from starting a business is fear. It makes you start second guessing yourself. Nothing will be perfect, even after you’ve been in business for years. You’ll still have doubts and frustrations, but it’s okay.

That’s it for this week. As always, we’re …

Dedicated To Your Success,

Juliette & Robert
Beauty Business Blueprint

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