Top Tips for Being a Successful Business Owner

All the advice we’ve learned in the last few years of Soak Rochford

Being a small business owner comes with many ups and downs. Usually, it takes a little while to understand these trials and tribulations so that you can learn from them in the future. 

Due to a lot of hard work and dedication, Soak Rochford has been lucky to significantly expand over the last few years. So, we want to share all of the top tips that we’ve learned during this time so that both new and seasoned cosmetic creators can hopefully have an easier journey.

Be Your Own Biggest Cheerleader

Don’t rely on anyone else to make you feel like you are skilled and that your business is valid. 

If you don’t feel like your products are at their best, you will end up underpricing and underselling yourself. So, take the time to build the faith you have in yourself as this is what will help you grow your business. 

You need to have full confidence in yourself both as a cosmetic creator and as a business owner so that you know and feel proud, comfortable and sure of all the decisions you make. 

Stay on Top of Your Finances 

This includes being organised with your receipts, transactions and profit so that when it comes to paying tax, you’re ready. It also means that you need to be sensible about saving for a rainy day.

Taking the leap to become self-employed is usually considered to be scary due to a lack of financial stability. But, if you are well aware of this when first starting out, you can make sure to put some of your extra profit aside during a good month to provide your future self with a cash reserve when things are a bit slower.

Don’t be Scared to Try New Things

Variety is the spice of life!

We all have our favourite products to make and your customers will have their favourite products to buy. But, consider introducing some new scents, products or colours to generate some new interest and excitement within your audience. 

This could mean adding a body butter to go with your current body scrub range, or even try neons if you’re known to favour pastels.

Dream Big

The most detrimental thing a small business can do to itself is to think like a small business. 

Allow yourself the freedom to think about positive “what if”s. For example, what if you open a shop on the high street one day? Or what if you start selling bulk wholesale orders?

If you keep your business confined to being exactly that, you’ll never be able to grow.

Invest to Expand

If you want to grow your business, it’s time to consider investing.

But how can you decide what to invest in first, we hear you ask? Well, start with those bits of your business you’d much rather avoid. This could be finance, social media or web development. 

You’ll be so surprised to see just how much time you get back and how much stress is alleviated from this.