I Decided to Start a New Company

Today I was talking to a friend of mine who has an alcohol mixer company.  He has been hard at work for the past five years and has just acquired a Distributor.  We were talking about the benefits of having a Distributor, as well as next steps, partnerships, events, etc.  We also joked about people’s perceptions of what they think is really going on with your business – good or bad.  If you have never owned your own business.  If you have never had employees relying on you – then you have no idea what it means.

If you do – then you are in a very elite club of people who understand.  That this is a 24 hour a day, 7 day a week job.  That even when you are at the Taco and Tequila Festival, like I was today, you are thinking about your business and what you can do to be better.

There is no Work-Life Balance.  That’s bullshit.

There is only scheduling time with your family away from work.  There is only making time for yourself – maybe one hour a day if you’re lucky.  But even then –you are probably still reading a book or something that is feeding your mind to be more creative for your company.

But if you are willing to make these sacrifices because you have an idea that you just can’t stop thinking about – then I do encourage you to do it.  It’s going to be hard.  You’re going to have many sleepless nights. And you are probably going to say to yourself… what did I do?  But it will be worth it – no matter what.

Which brings me to today.  Two weeks before I launch a new business.  I have not told anyone what it is yet – and I am not going to tell you yet.  But I will tell you what I had to do to get here.

What I am launching is a new Brand - I am launching a new line of products.

I have been thinking about this for a while.  In fact, it started because these were products that I knew my current Industry needed.  My clients have been asking me to find these kinds of products for them, and I have been noticing a lot of chatter on social media about it.

I never meant to launch my own brand.  I just wanted to find what my clients needed from some other company, then distribute them through my current Distribution Company, Aesthetic Ambassadors.

So I set about reading up on all the materials, setting up meetings with other manufacturers.  Working out numbers.  Speaking to my current Brands about bringing in these kinds of products.

Everyone I spoke to was very interesting.  And they all had reasons for creating their brands.  What was amazing was I liked ALL of their products.  They were all amazing products in their own way – and I could have easily distributed any of them proudly.  But none of them felt like THE ONE.

So, one day, during a very long drive home from the sixth manufacturer that I spoke to I said to myself.  Never mind.  I’m just going to create my own.

Now, some of you might think that this was a pretty flippant thing to think – like it is NOTHING.  But it is not nothing.  It is a huge decision.  And one that I had been toying with for a long time.

My very good friend, Kristina, has known me since my Revitalash days.  And she has asked me a million times- why don’t you just create your own brand?  You know how to do it?

But manufacturing had never been a thought for me after Revitalash.  Sure, I know how to do it.  And it’s kind of a nightmare!  There are so many factors in it.  So many moving parts.  So many tests and costs of goods!  Ugh!

So I always answered.  What would I make?  There is nothing that I want to make? But I had always known that if there was – then I would.  But it had better excite me.  Because it was going to be a nightmare.  A fun nightmare.  But a nightmare.

Well … now I am excited.

It is time.

And I thought this would be a good subject to talk about – especially if you are starting a business.  Or even if you have a business.

But instead of boring you with all of the top lists of what you are supposed to think about and do when starting a brand (business plan, loan, market research, marketing plan, insurance, licenses, blah…blah…blah…)

I am going to talk to you about the SOUL of starting the plan.  What are you doing this for?  Why are you the right person to do it?  What fire do you need to walk across to get this done?  What are the risks involved?  You have to dig deep into your gut and come up with some real answers.  This thing of starting a new business is not for everybody.  So let’s get honest…

#1 Why?

Whatever it is… Why do you want to do this right now?  And don’t give me this bullshit about you want to work for yourself and be your own boss.

If you don’t know – let me tell you something – you are NEVER your own boss.

I know you think that means you get to call your own shots and make your own schedule.  But that is all a myth.  There is no such thing.

If you have employees – then you are slave to their actions.  Good and Bad.  You are a slave to the Employment Department rules.  See that poster hanging up in the break room with employee’s rights?  That is your boss.

My company offices are 43,000 square feet.  You want to talk about never being in charge!  This beast takes up at least an hour of my day-every single day.  Last night at 9:00 at night it decided to have a faulty sensor set off the alarm and I had to go check on my building to make sure it was not being robbed.

Why?  Because I am my own boss.  Who else would go check it?

Ok now really…. Why do you want to do this?

For me with this new Company – it was not only because it is an item that people keep asking me for.  It is because I think I can do better.  LOL!  Yes, the ego comes into play!  You have to have an ego to put yourself out there – that’s how it works!  No one is doing it the way that I think it needs to be done to get to the next level – so I will do it myself.

And I love these products.  I want to use them myself.  My family needs them.  My closest friends and their families need them.  This will make so many people happy.  And they do exist!  But they do not exist in a way that I think they should.  And I know that I can do that for them, for me, and for my industry.  So I WANT TO DO IT.  I want to do it so bad that it keeps me up at night with new ideas to keep making it better.  To take it to the next level.

I nudge my husband awake (poor guy) in the middle of the night to tell him how excited I am to launch!  Am I scared???  Of course I am fucking scared!  That’s what make it awesome!  And if you are not scared – then you are lying to yourself.  But even through all the scared – I am squirming with excitement!

You better be that excited. Or don’t do it.  Because you WILL NEVER be your own boss.

#2 – Who Is Going to Be Your Buyer?

Again – lots of market analysis.  Lots of Market Research.  Lots of getting to know your competitors.  That’s all very important.

But now listen to your gut.

Who is your #1 buyer.

Is she a mother?  Is he an athlete?  Is it a student?  Is it a senior?

Are they a business person?

Where are they?

How do they live their everyday life?

Where do they shop?

Now most people say.  EVERYONE IS MY BUYER!  EVERYONE NEEDS THIS!

Shut up.

That just means you haven’t figured it out yet.

I will give you an example.  Let’s say you have a men’s line of facial wash.   It is an anti-aging men’s line.

The product is for a man over the age of 35.  Mid-High level pricing.

But where do you plan on selling it?  Probably spas, department stores, specialty retailers, etc.

So who is your buyer?  NOT THE MAN.  Men will usually just use whatever you give them.  And if the bottle isn’t pink- he will probably just use what you are using.  That’s IF he washes his face at all!  Ask the next five men you see what kind of FACIAL WASH they use.  They will first look at you blankly (aka: they don’t know because their wife/girlfriend buys it) or they will tell you they use their body wash in the shower.

So – your buyer is a WOMAN.  Who probably wants her man to stop using her own line of products.  Your buyer is a woman with means.  Who shops at these kinds of high end retailers.

You need to talk to the woman.

This woman if probably on Facebook.  She shows pictures of her kids and her husband.  She has girl’s night with the ladies.  She is a wine drinker.  She makes the decisions – go and find her and target the ads to her.

#3 – What are you doing that your competition is not doing?

With my new brand, as I mentioned, there are several brands out there with the same concept. And in fact – good products. But, as I said, I feel like I can do it better.  I feel like they are missing the boat on some things – so I feel like I can swoop in and make buyers want my product instead.

For you… what is different about YOUR product.

Now, this is where people start to get a little nuts.  They start getting really scientific about things.  Or start getting REALLY personal.

When you start telling people about the differences of your product to your competitors – do they kind of glaze over and say things like. “Wow.”  Or  “Great idea!”  Like…. One word answer kind of things.

That means you are not resonating.

On the other hand – if you can describe your idea in less than four sentences, and they start asking you questions…  Or even ask you to explain more – then you are on to something.  You are on to something unique, and different.  You are making your point.  It’s not too personal. And you are not just talking to try to convince them that they need this or want this.  They won’t buy it because it’s important to YOU.  They will buy it because it’s important to THEM.

It does not mean that your product or idea is not AMAZING!  It just means that you are not talking to them in the way that moves them to buy.

#4- Don’t listen to anyone

Of course I do not mean NO ONE.  But only listen to people who are business owners themselves.  They are the only ones who know what they are talking about – because they know what you are about to do.

Remember – we are an elite club who understands what it means to take this chance.  To put your heart and soul on a platter for everyone to see.

Ask a trusted business owner friend the hard questions.  Ask for their opinions and their advice.  They don’t have to be from the same industry.  They will get it.

But for gods sakes!  Don’t listen to your family when they start naysaying.  Their job is to worry about you.  So they don’t like you to put yourself in, what they perceive, is harms way.   It’s not that they do not think you can do it – it’s just that their job is to worry.  UGH! Get away from them!

In conclusion…

There is so much more to think about when making this life changing decision to start a new business.  But as long as you are honest with yourself about how and why you are doing it – you are ready for the business side of things.

I will go over more about my pre-launch activities when I come back….