Grow your beauty business in 2023

Studies show that approximately 20 per cent of new businesses fail during the first two years of being open, with 45 per cent failing during the first five years!

Well, I am excited to share that I am moving into my sixth year of business. I made it through a two-year pandemic… and I had my best year in 2022, reaching the multi-six-figure mark.

I have no degree or formal business training.

I am not here to brag; but rather to show other women who want to start or grow their own businesses that if I can do it…SO CAN YOU!

1. Save time and money in your business by templating and automation 

  • Create systems and policies

  • Use the “rule of three” (if you’ve had to answer a question/ provide the same info more than three times you should create a templated answer ) 

  • Use a software to help with quotes, invoices, contracts and more! Think Honeybook, Dubsado or 17hats

Side note: Have you heard of 17hats? I use it to organize and automate my small business, and I swear by it. Their feature-packed platform saves me time and money and lets me focus on what I do best – not paperwork.

And, because you’ve been referred by me, a 17hats member, can you get special invitation-only pricing. But be sure to use referral code vpcwhxhcbv … Just click on my referral link to get started!

2. Build true relationships with your clients by communicating effectively

In this business, it’s crucial to know how to:

  • Speak with clients

  • Listen

  • Set realistic expectations 

  • Handle inquiries

  • Follow-up 

3. Build a team that’s set up for success

You’ll want to keep in mind that:

  • Your new job is managing people 

  • You need to get organized 

  • Everything that is  in our head; you need to be able to share in a way that’s easy to understand and adopt 

  • Your reputation and business is now depending on others who are less invested than you 

  • If that sounds OK to you, then you need to start putting systems & policies in place 

  • The benefit to growing your team is that you can serve more clients, expand your reach and ideally generate more revenue

We are NOT here JUST to make money, but let’s be real! We have to earn an income.

Priceless Beauty team

Want 5k, 10k, 20k, 30k months? Here are 12 ways you can start building additional streams of income in your beauty business!

Did you know that millionaires have an average of seven streams of income?

Take a moment to write down three new ways you can generate MORE $$$ in your business. What do those multiple sources of income look like?

  1. Servicing clients 

  2. Selling products ( what do they need to improve current service): 

  • Other brands 

  • Private label 

  • Create own brand 

  • Drop shipping 

  • Wholesale 

  • To consumer

3.             Upselling during a service: 

  • Airbrush

  • Lashes

  • Hair extensions

  • Contour

  • Exfoliation 

4.             Offering in-person lessons - training

5.             Offering online training/education 

6.             Being a guest speaker/trainer 

7.             Hosting an event 

8.             Subcontracting services 

9.             Adding complimentary services: 

  • Teeth whitening

  • Hair extensions

  • Spray tanning 

  • Brow lamination 

  • Lashes 

  • Lift & Tint 

10.          Affiliate commission (share a unique code with your following and get a percentage of the sale) 

11.          Have a space- rental income 

12.          Monetize social media platforms 

Well, that’s it for today! Stay tuned for more beauty biz tips coming your way.

XO

Pamela

Business CoachingPamela Pricebeauty, business