So You Want to Be a Skincare Lady Boss?

 

Everyone wants glowing, healthy skin, so it’s no surprise that skincare sales are on the rise. What is surprising, however, is that only 12% of the global skincare market has been penetrated by women-owned businesses according to research firm Financial Times Intelligence Global Skin Care Database (FTIGSD). This means there’s room for plenty of lady bosses in the skincare business! If you’re wondering how to become a skincare lady boss, here are 5 tips that will help you get started on your journey to success.

Start with passion

I know that’s easier said than done, but if you want to build an empire based on your passion and not just do something because it seems lucrative or easy or fun at first, then you must be passionate about what you do. The best way to start is by figuring out how and why your heart beats faster when you think about skincare (or anything related) and run with that.

Know your skin type

Once you’ve identified your skin type, which is dependent on your unique skin structure and tone, you’ll have more than just an idea of what kind of products will work best for you. Skin types are categorized by oily, dry, normal or combination. Oily skin tends to be shiny and greasy all over while people with dry skin tend to produce excess oil on specific areas of their face.

The importance of education

It is of paramount importance that you stay on top of trends and advances in skincare. Whether you’re learning about an ingredient that may be beneficial for your customers or staying updated on which ingredients are safe, skincare education can make all of the difference in your business.

What kind of skincare business are you interested in?

There are various types of skincare businesses you can run. First, you should identify your niche and narrow down what your ideal customers are looking for. Are you interested in cosmetics (makeup or skincare products) or body care (soaps, lotions, and sunscreens).

Do they want natural skin care products? Are they men or women—or both? What age range do they fall into? How much money do they have to spend on such products?

Use technology to market your business

If you’re in business for yourself, it’s more important than ever to leverage technology. The growth of self-employment has directly resulted in an enormous increase in cloud computing. Never before have small businesses had access to such robust and inexpensive software solutions as they do today. A generation ago, most entrepreneurs had to invest thousands of dollars—perhaps even millions—to get their businesses off the ground; today, some can launch with just $100 or less.

Ways To Get Discounts on Products and Services

The easiest way to cut costs is by negotiating price. There are several techniques you can use that may allow you to negotiate with your suppliers and vendors, and most of them are available in one form or another, no matter what product or service you’re looking for. Here are some tips on how to get a good deal when purchasing

Do your own marketing or hire a professional

he decision about whether or not you should do your own marketing really depends on what kind of product you’re selling and your budget. If you sell something that’s high-priced or difficult to ship, it’s probably worth it to hire a pro. However, if you sell digital goods or other relatively low-cost items, marketing yourself can be just as effective. Remember: One way or another, you have to put in an effort if you want your business to succeed.

Delegate what you don’t have time for

There’s no way you can do everything yourself. Get other people involved in your business so you don’t have to be involved in every last detail—and make sure it’s people who are good at what they do. (Bonus: If you grow your business, you might need more staff anyway!) It doesn’t mean it won’t all fall on your shoulders eventually, but for now delegate!

Keep it funny

Make skincare your passion. Research, read, and educate yourself every day on anything related to skin care. If you love what you do, it will show in your product—and that’s something customers appreciate. According to an American Express survey of affluent Millennials (those with $100K+ in investable assets), 23% are willing to spend more on high-quality products from brands they love—even if they’re equally as effective as lower-priced options.