business skills 101

Perhaps I am being a little unfair in this but I am seeing way too many posts on the various Facebook groups that are overly simplistic and need just a little thought into them.  Primarily its about pricing structure. 

Make up artistry is an art form but its also a business.  

Structuring your business should be your first port of call.  By that I mean looking at your business plan, which many people do not seem to do.  

Any business adviser you meet to discuss set up, the first question will be have you done a business plan?  

This is essential.  You need to know what area of business your targeting, what your major overheads will be, who your target audience is and importantly estimated earnings. This means you need to work out your rates.  

The reasoning behind this is simple: it makes you focus on what key areas of business you need to look at and allows you to see an estimated turn over.  Often when you sit down and calculate out your outgoing verses your income it can be shocking, especially for make up artists.  

Heres a simple task I want each of you to do: 

Calculate how much you spend each month and get a total; bills including phone, rent, mortgage and of course material stock you buy,  Do this for one month calculate every penny spent and get a total.  

Then take the income you make from your business as it stands now, this can be from weddings, party make up etc. 

Now take these two figures and subtract your outgoings from your income.  Look at the difference.  Is it a positive number or a negative?  Are you making a profit or a loss?  

This is a fundamental of business and something many people (myself included at one time) fail to do.  

Food for thought.