Episode 18 Summary
Episode 18 features Zakiyrah and Mikey going through the core elements of what they refer to as The Hair Business Checklist. This is part one of a two-part series that analyses what is needed to have a successful hair business.
Get the hard-earned experience that Zakiyrah and Mikey have acquired to establish their hair extension company expressed in a convenient process. They tackle everything from your company name, logo, and website to finding a hair extension vendor and the importance of email lists.
● Zakiyrah and Mikey introduce The Hair Business Checklist.
● CHECKLIST STEP 1: Why are you starting a hair business?
● Just because you are passionate about hair, realize there is much more involved in running an actual business.
● Starting a business requires stamina, not giving up, and it can take an emotional toll because things are going to go wrong.
● CHECKLIST STEP 2: Come up with a name for your hair business.
● Take the time to brainstorm multiple names that people would like, and take a poll of people you respect to pick what name they think is best.
● Keep the name short and simple.
● CHECKLIST STEP 3: Reserve the social media accounts.
● Keep your name consistent with social media accounts.
● CHECKLIST STEP 4: Get your domain name and an email address that match.
● CHECKLIST STEP 5: Now you need a logo – all text or an image.
● CHECKLIST STEP 6: How do you want to sell hair – wholesale or dropshipping?
● Wholesale is purchasing hair in bulk and you keep the inventory on hand.
● Drop shipping is when you pay as you go and the product is shipped to you to the customer.
● CHECKLIST STEP 7: Where will you sell your hair extensions – website, social media, or retail storefront?
● CHECKLIST STEP 8: Finding a vendor.
● You have to figure out what your delivered cost is: the total amount spent to order the hair, have it sent to you and payment fees.
● CHECKLIST STEP 9: Build your website.
● Using WordPress for your website offers advanced features and plugins.
● CHECKLIST STEP 10: Build your social media accounts and email lists – post at least once or twice a day.
● CHECKLIST STEP 11: Get your business structure established – LLC or sole proprietorship?
● CHECKLIST STEP 12: Marketing strategies: driving traffic to your website, most visitors probably won’t buy (especially in the beginning)
3 Key Points
1. Know exactly why you are starting your hair business because it won’t be easy to become successful.
2. Dropshipping allows you to focus on the hard parts of a business – sales and marketing.
3. Figure out what your total delivered cost is, factoring in the full amount spent to order the hair, have it sent to you and the associated payment fees.
– “When you get your tax return this year, let’s not go buy that new shiny TV. Or the new Chanel bag. Let’s invest in yourself.” – Mikey.
– “You have to major in the minor before you can get to the major.” – Zakiyrah.
– “You don’t want to send out business emails from @gmail.com. Make sure you are getting a business email, because it is very important to look professional.” – Mikey.
– “Wholesaling is for people, I always recommend, that have…salons.” – Zakiyrah.