Beat The Recession
Get ahead; prepare your beauty business to survive and THRIVE through anything—recession and inflation.
Experts say that a recession is coming.
The word recession can be scary to a lot of people, especially entrepreneurs. If you own a beauty business, you're probably wondering what the heck you will do during this upcoming recession, how you will protect your beauty business, and how you will survive.
Many people's instincts will be to hunker down, cut their losses, and hide out until the whole thing is over, hoping their business will still be standing by the end.
Headlines want to scare you; they want you to think that you won't survive this recession. I don't believe in that!
I believe that staying strong and consistent is the best thing to do for your business during good and bad economic times.
For beauty business owners, I'm teaming up with my top business advisor Danielle Manguinao to bring you a FREE WEBINAR all about surviving the recession and ensuring that your beauty business will THRIVE even through inflation and the 2022 recession.
I built a multi-million dollar beauty business in the middle of the COVID-19 crisis, during a global pandemic when many businesses, including my own, had to shut down. I don't just think your business can grow during challenging economic times; I know it can.
Make your beauty business one of the many that will grow, thrive, and survive through a recession and inflation, and sign up for our free webinar on July 15th at 11 AM PST.
Recession And Inflation Beauty Biz Preparation: Free Webinar
Keep reading for my quick guide on how to beat the recession and prepare your beauty business in 2022 to survive the recession and inflation.
Step One: Don't Panic.
What would be more productive for you, your business, and your family that you probably have to provide for:
Hiding under a pile of coats and waiting for this blow over?
Closing your eyes and pretending it's NOT happening?
Or looking at the facts, trusting the experts, and doing what you can to prepare ahead of time to protect your business?
I mean, I think it's pretty obvious.
Recessions are a part of our economy. The strongest, longest living, thriving businesses will be the ones that are prepared to weather any storms.
You can make your business recession-proof! You just can't be afraid of what might happen.
Step Two: Assess Your Business
As a business owner, you should ALWAYS be familiar with your numbers, but many entrepreneurs like to ignore them. Don't be that person.
Get familiar with your numbers. How much money is your business bringing in, how much money are you investing in your business, and where might there be some leaks where you don’t see ROI?
If you have a CPA or an accountant, talk to them about securing your business.
Do you have clients who are behind on payments? Go collect it now. Now is the time to be smart and intentional with your money. I'm not saying to hold on to it tight and refuse to let it go; I'm saying invest smartly and collect your money diligently.
Step Three: Diversify Your Income
Multiple income streams are critical for beauty businesses to be strong and protected anytime, especially during economic hardship.
Multiple income streams offer you protection from all sides. If one income stream is ever running dry, you have another to boost up and protect you during a difficult time.
Think about the ways that you can expand your services now.
These are all ways that you can diversify your income.
Remember that there are going to be thousands of women like you that are looking to expand their own income to protect themselves from this recession. You can find a way to provide that opportunity for them and help them through this challenging time while expanding and growing your own business.
Step Four: Keep Learning
The times when my business really grew the most were always times of hardship, where I had to get clever, and I had to learn to survive.
Times that were scary, times that felt unfamiliar, and times that felt challenging always pushed me to expand my knowledge, learn from the experts around me, and find creative ways to grow my business.
Learning and growing will be your greatest defenders throughout your entire career, helping you survive whatever storms the economy will go through.
You can beat this recession. You can thrive during this recession.
Sign up for my FREE WEBINAR on July 15th at 11 AM PST to learn how you can make your beauty business absolutely bullet-proof. Click the link below to learn more!
Sheila Bella is a marketing expert and beauty business coach, as well as the President of The American Academy of Micropigmentation and founder of the Pretty Ambitious Summit.
She is considered a leader in the world of permanent cosmetics and beauty having built a 7 figure beauty business in 3 years.
In 2019, she pivoted to the online coaching industry and grew her online program, Pretty Rich Bosses, to 7 figures.
She works with beauty entrepreneurs every day, helping them create the businesses and lives of their dreams!
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