Do you want to start your own business?
If you feel that it is the right time to start your own business, do not hesitate, be cautious but determined, you cannot get results if you do not take action. We recommend that you use paper and pencil to perform this exercise, it may be a bit difficult at first and you may not have the answers immediately, but it is recommended that you take your time in each of the points so that you can move forward with your idea of deal.
Consider this the starting point, once you have the information on each of the points that you will see below, you will have a great advance and your venture will begin to take shape.
1. Define your motivations
Some of the benefits of starting an entrepreneurship are:
Earn more money
You can continue with your day-to-day work and take a few hours to work on your projects a day. If you continue to be successful, you will reach a point where you can become independent.
Have more time
More time for you, to do what you like the most, family is fundamental for everyone, spending more time with them would be great, go out to eat, enjoy a weekend in a nearby town, or go on vacation.
Be your own boss
Not meeting schedules and working for objectives is something highly valued in a company, imagine doing that all the time.
Work from home
Getting to wear even pajamas to work sounds like the dream job, don't you think? Just kidding, if you work from home you must forge habits and good work discipline, there are many benefits, but also the responsibilities to yourself and your project.
Work with your passions
"Do what you love and you will never work a single day of your life." This phrase is very popular and very true, because when you do what you love, it doesn't feel like work.
Choose a venture not only for the opportunity to earn money, but because you feel that you enjoy it, and that the journey is just as rewarding as the goal.
Bearing this in mind, it is important to define the motivation that is leading you to want to undertake and make it clear from the beginning, since the continuity of the business depends on this in difficult situations.
You must start by answering yourself if this venture will be the replacement for your traditional job or if it will simply be an extra income, this will directly influence the time you will dedicate day to day to work on your venture and the growth will be directly proportional to the time and money invested.
Keep in mind that when it comes to entrepreneurship, things can get difficult along the way. It is in those difficult times where the true entrepreneur stands up strong and finds creative or alternative solutions to move forward with his business idea.
2. Evaluate the media and channels that you will use to sell or promote your services.
For example:
Physical store
It requires a greater investment because the store must be adapted, however the results can be very good, in the event that you decide to start with the Cosmetics business, you could open a boutique, a store specialized in makeup or even a beauty salon.
Online or internet store
At this point in the evolution of the internet, I believe that everyone already knows the benefits and facilities that exist to develop an internet business, however, it must be borne in mind that although there are very good opportunities, it requires work and perseverance, you should look for the way to stand out from your competition.
Remember to use different tools and sales channels
Your own online store
Facebook
Instagram
Youtube
Use a blog to promote content related to your products and services.
Dropshipping
If you offer a product it is not necessary to have stock, there are business models such as Dropshipping that allows you to sell products that you do not have in stock, at the time an order is made, you can ask your supplier to dispatch it directly to the customer.
This business model has its difficulties, the first is that there is too much competition, and secondly there is a permanent price war, because what you offer, someone else can offer it a little cheaper.
Have your own Stock
You will have control of the merchandise you offer, you can ensure the delivery time to your customers, personalize the service, the packaging, and develop a much closer business with your customers, which will allow you to know them better and satisfy their needs.
Evaluate the Cosmetics business as an entrepreneurial opportunity
Makeup is a high-demand product, women use it daily, and it must be replenished when worn, meaning that a customer will buy again and again.
Returns greater than 200%, get brand makeup, women love it, they are also products that are positioned in local markets with high prices.
If you want to know more about the cosmetics business and how to make your first purchase to resell, one of our executives will be happy to advise you. Contact us here.
3. Find a need and satisfy it
If you realize this point is first to choose the product to sell, first you have to find a need and then satisfy it with a product and service. It is not the other way around.
Surely you have heard the terms mentioned: potential customers, market niche, target audience, and target.
So let's see what the target is.
We refer to that group of people who due to their qualities and characteristics has a high potential, or there is a high probability that they could become a consumer of our product or service.
You must define the following characteristics:
Gender
Age
Place
Socioeconomic level
Traditions
What social networks do you use?
All marketing efforts for your business must revolve around this niche or niches (because there are occasions that a product or service can be offered to different market niches)
Let's see an example
You work in a bank and you identify that most of the women who work there do not have much time to go shopping due to their different work and family commitments, many are mothers, wives, etc.
Then you gather the following information:
Number of women working in the bank: 500
Age range: 30 and 45 years old.
Academic level: Professional
Socio-economic stratum: Medium - High.
Difficulty: Little time to do the shopping
Need: Look pretty and professional with an executive air in your work environment.
Now, it is possible that your potential market is not only that bank, but the women of your city, or country who have the same profile of executive women.
You have already identified a difficulty, a problem and a need that your potential clients have.
The next step is how to meet that need.
4. What products or services to sell
When we have the previous answers resolved, we can proceed to define the product or service.
Continuing with the previous example, then your venture could be oriented towards the market niche of female executives.
As you well know, we are a store specialized in wholesale cosmetics, so we are going to continue with this example line that would allow us to explain you better, however, consider that you can apply it with other product lines, whatever works best for you.
What product could you offer them?
These executive women have the need to be beautiful and professional in their work environments.
You could provide them with all the makeup items that they use daily in a much more personalized way, since you would offer them cosmetics so that they look just how they want.
You could also create services related to the product, such as face-to-face makeup classes for executive women, or virtual tutorials that show them how to put on makeup for certain occasions, depending on the wardrobe they use, according to the color of their skin, etc.
5. Stand out from the competition
This is one of the most important steps and it may turn out to be one of the most complex. Define the value proposition, it must be unique, difficult to replicate and sustainable over time.
The «Business Model Canvas» or Canvas Model, also known as the business model canvas, is a concept that allows visualizing in a single document the idea and global vision of a model, showing the interconnections between its different elements that intervene in the same.
One of these fields talks about developing a simple methodology to specify a value proposition that is a key success factor in the implementation of the business idea and ensures the success of the venture.
You must clearly define the problem to be solved and what work your client has to do if he decides to do it on his own.
The Canvas model defines it as "JOBS". If the product is makeup, then one of the "JOBS" would be that the customer needs to scroll and go to find the products you offer one by one, this takes time, while with your service, the customer has it easier, he knows that With you it can be achieved more easily.
Define in a concrete way what bothers the client the most to obtain what we are offering, what they do not want to do and what they would pay to avoid this annoyance. The Canvas model defines it as "PAINS". In the same example, the customer would like to avoid the long lines at the stores that would require the purchase of each of the makeup products.
Finally, define what your client will earn for acquiring the product or service, the Canvas model defines it as "GAINS". In the example, the client wants to have comfort and feel more beautiful, professional, executive. And with the product and your value proposition that you offer, she will get it.
In summary:
We must define what are the:
JOBS
PAINS
GAINS
When it is defined, this will be your value proposition, and in the case of having competitors with the same product, you should look for what makes it unique, following the example used above.
6. Go to the action plan
Exactly!
It is time to jump into the water.
It is necessary that you have very clear answers to the points that we raised previously.
If you decide to start with a commercial premises, it is recommended that before entering into a lease, you start promoting or offering your products to acquaintances who you consider to be within your target. This stage of your process will have the main objective of validating your idea and testing if you chose the correct niche or if you should rethink it.
Design and define your product or plan the process of the service you are going to offer, and make the first contact test with potential customers.
Take advantage of the first sales to question your customers and document the information they give you.
Consider what may and may not work. Check if your customers agree with the product, image, price, distribution channels, payment methods, etc. Evaluate if the value proposition you have in mind matches what customers really want.
Maintain constant communication with your customers and get to know their needs closely. This will help you make necessary changes to your products or services, get ahead of their interests and even bring out new lines of products or services to offer them.
Survey your customers
After you have started the sale of your first products or services, you should have collected enough information about the acceptance that the first units had and the changes necessary to make things work better.
Contrast the initial information you had in the plan, with the information obtained in reality and make any adjustments that are necessary.
Begin planning a second validation phase with the improvements already applied until you can define strategies and responses that are consistent with reality.
Take advantage of any opportunity to publicize your product and service.
Every day it will be important to invest time and money in your knowledge. Focus on learning more about the subject related to your business idea, and it is worth getting familiar with issues such as marketing strategies, administration and legal issues.
It is always better to have professionals to help you in each of these areas, and better concentrate on the core of the business, at first you will surely have to attend to most of these issues yourself.
As you progress in the execution of your project, establish good relationships with people and companies. Always seek to win financial support. It can be with business development entities and seed capital. As well as mentors, distributors, strategic allies and others. All of them will be useful for your growth.
Conclution
Having your own business is an excellent way to have extra money without having to abandon your conventional job. Although it can also become your company, become independent and forge the business you have always dreamed of.
We promote the Cosmetics resale venture as a business modality that offers many advantages:
Excellent profitability and profits
High demand products
Build your own business
If you are interested in this topic, remember that it is very flexible, you can develop your business and diversify it however you want.
You will only have to dig a little deeper to find out which business model is the ideal one for you!
Remember, businesses are dynamic, start your venture gradually, it is important to plan as well as making the decision to jump into the water, once you are underway you must make adjustments so that your plan better adapts to reality and you keep it. in continuous improvement, in this way the probability of success is greater.
Did you like the article? Would you like to start selling makeup?
Contact us and we will provide you with all the information you need!
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