The title is a little bit of a mislead but there are some major things you need before starting a business so I needed to scare you a little bit for you to take this seriously!
Do Not start a business unless you have the following:
Sales Experience –
Right out of high school I sold vacuums – yup that happened. It taught me so much about selling, pushing past comfort zones and what it takes to really make a sale. Back then, you could get a vacuum at the store for $30 and I had to sell one for $1600. I boldly had to go into people’s homes demoing a product that they had no intention of purchasing. They only allowed me into their home for the free carpet shampoo. If you’ve only been on the service side of the industry, you’re going to have a really tough time making money. Sometimes great customer service can also mean clients take advantage of you. Set clear policies and stick to them! Join the Chamber of Commerce and take every class they have on sales techniques or go searching online (even my blog) to learn all you can. It’s simple – without sales a business dies. Furthermore, train your entire staff constantly about all you’ve learned.
If you’re a nail technician, it seems pretty obvious that you’ll need some clientele before branching out. My former employer left me high and dry by refusing to provide my client list upon departure. I was a 1099 and privy to that information yet the owner withheld it. I didn’t know enough at the time to pursue legal action so instead I started my business at ground zero. I combatted this by launching a Groupon and it gave me the start I needed. However, Groupon has really changed so much since then, that I wouldn’t typically recommend it. What’s the lesson here? Get your client list before you give your notice!
Tax Class –
Did you know the IRS gives free classes for newly registered business owners? All you have to do is register your business name. They’ll send you the info and DO NOT miss out! It’s super informative and fun since you’ll be in a class full of other people in the same boat as you all learning together.
Management Knowledge –
Without having to get a college degree, you can simply read about methods from top experts through books. I recommend It’s Okay To Be The Boss. Furthermore, read books, blogs or articles about hiring! 3 Rules For Hiring Excellent Staff Without Turnover