Have you always dreamed of having your own business, working for yourself, creating something of value, do you have a unique idea?
Taking the leap to launch your own business can be very intimidating, but our advice is – stop talking about it and start doing. This is the era of entrepreneurs and there are endless opportunities available to ensure success.
So let’s explain how you can get started on your business journey…
Step 1 – Business 101
Define your target market? What solution/benefit are you providing to them? Who are your main competitors and what sets you apart?
Answering these questions and doing your homework is going to prepare you to make very important decisions and put your best foot forward. Write down your mission statement, find inspiration, do a moodboard, check out your competitors and define your unique selling point.
Step 2 – Define your brand aesthetic, message and values
What is the look and feel you envisage? What attributes of your business would you like to convey? For example: professionalism, elegance, edgy, modern or traditional. If your brand was a voice – what would it say and how would it say it. What are the values you want to maintain – e.g australian made, cruelty free, natural etc.
Having made the decisions on the above you can now go about getting a logo and visual style set up for your brand including colours, fonts and photographic style. Keeping these things consistent across your website, collateral, social media, packaging etc will enhance a strong brand recognition and help with customer loyalty – give them what they expect from your brand.
Step 3 – White label
Unless you studied chemistry – formulating your own products from scratch is going to be a lot of trial and error. Use someone else’s experience to help make decisions on formulations, containers and packaging.
We pride ourselves on our high quality products and have helped many brands with their own make up line. We test, test test the formulations (on ourselves, not animals) and the containers and packing to ensure a high quality result.
Step 4 – Launching
You may have heard of the term ‘go to market’ – this will be your strategy for getting the word out, selling your products and distributing to customers. There is a lot to consider here and it’s a good idea to get some expert advice or ask someone else who’s done it!
Here are 3 considerations for your go to market:
- How will you get the word out? Plan and make a budget for this. There could be some trial and error to get the right mix. Some methods include: social media, affiliates or influencers, competitions, advertising, PR.
- How will your product be sold? There are many ecommerce platforms available to sell your products to customers. There are costs involved in hosting a website and on each payment which is made through an online payment gateway. You’ll need to factor this in to your pricing.
- How will you distribute your product to customers? Think about which postage or courier service you can use, how will you package the products to ensure they are safely transported, will you send worldwide?
Step 5 – Maintaining your brand pillars
Price – you need to cover all your costs + make a profit. Knowing your customer will help with your price strategy.
Service – this can be a big factor in setting you apart from a competitor. Speed of delivery, ease of returns, communications, packaging etc all make an impact on a customers decision to buy again.
Loyalty – Know your brand and what you set out to do. It can be a big commitment to run your own business, but staying true to your brand and being across every touchpoint makes you different and creates loyal customers. Going above and beyond for your customers will result in great word of mouth (free advertising).
Get in touch if you’d like advice on starting your own makeup brand.