Starting and managing your own Aromatherapy Product business is a major step, but one that has never been easier to take. There is nothing as rewarding as being your boss, setting your own schedule and building a successful business.
Around the globe millions of small business, often considered the backbone of the economy, all play a vital role in keeping business diverse, entrepreneurial and proactive. Imagine what it would be like if the big conglomerates cornered the market. The lack of choice and fairness would be unbearable. It is the small business community that generates new ideas and more importantly brings them to life.
As the business owner you have the choice of where you want your business to be based, how you want to do business and how large you want your business to grow. If you plan for success the sky is the limit.
By starting your own aromatherapy product making business you are positioning yourself within the health, beauty and cosmetic industries. These are all massive growth industries where the opportunity to start and grow a business has never been bigger.
As an example, over the last 50 years the cosmetics industry has been one of the fastest growing and most profitable market sectors out there. When you think about it, cosmetic products like soap, shampoos and lipstick are part of nearly every family's weekly shopping list. That means you are providing an essential product to the market. This is a great position to be in because, when things get "a little tight", it is the luxuries that get cut out, not the essentials.
Interesting Stat:
"Cosmetic store brands now account for one of every five items sold everyday in U.S supermarkets, drug chains and mass merchandisers. They represent more than $50 billion of current business at retail and are achieving new levels of growth every year." The Gallup Organisation.
Starting your own aromatherapy product making business also provides you with the opportunity to:
• Get creative and develop your own range of unique products
• Stretch your entrepreneurial wings and learn new skills
• Fulfil your dreams of running your own business
Starting your own business really is an enjoyable challenge. It's not all fun and games so make sure you are well prepared, sensible and seek advice when needed. In the resource section at the end of this e-guide I have included links to relevant support networks.
Now, let's look at whether you are ready to start your aromatherapy product making business.
Are you ready to start your business?
Running a successful small business does involve more than just simply working for yourself. Before you leap in, consider these three important points:
Will the business satisfy your needs and desires? People start businesses for all sorts of reasons. These may include finding an alternative to paid employment, a desire to earn an extra income or to be more independent. You are more likely to succeed if there is a good match between your business venture and your interests. Another important point is to make sure that your lifestyle and commitments will allow for you to manage a business.
Ask yourself these questions:
What is my main motivation to go into business? Is it strong enough to keep me enthusiastic?
What do I want to achieve?
What aspects of running a business will I love and hate?
Can I live with the stresses and risks involved?
Do you have enough skills to run the business? Again you are more likely to be successful if you have useful skills and personality traits that you can bring to your business. Knowing your capabilities will help you decide whether you are suited to running your own business. It will allow you work to your strengths and manage your weaknesses by doing relevant training or involving other people to make sure the business succeeds.
Ask yourself these questions:
What skills and personality traits do I have which will be useful for my business?
What weaknesses do I have that might make my business suffer?
What can I do to manage my weak points?
Is now a good time to start a business? When it comes to business success, timing is everything. Before you start your business you need to evaluate whether now is the right time. Timing issues like having a young family and not much time to commit to your business or living in a shared house and wanting to make your products in the kitchen will more than likely cause the business to fail. Another important issue is whether you have enough or can raise enough money to fund the start up of the business.
Ask yourself these questions:
Am I prepared to put the necessary time and energy into the business?
Will this be acceptable to those close to me?
Am I prepared and able to work long hours if needed to make the business work?
Do I have the resources to start my product making business?
Do I have the finances or can I raise the finances to start my business?
If you answer the questions above you will be able to decide whether you are ready to start your business. Seeking advice from friends and family is useful but at the end of the day it is up to you.
Careful thought and planning before you start your aromatherapy product business venture will save you a lot of time, money and heart ache down the track, but remember, too much thought and planning can lead to "paralysis by analysis". There will always be thinks that you will not have quite ready, or things that aren't 100% right. Don't let that hold you back. Once you are up and running you can refine your skills and business operations.
If you have the right blend of preparation and desire you will stand a good chance of being successful. Good Luck.
Will Cotterill has been successfully making and selling his own range of Aromatherapy Products for years. Will now teaches others to start and run their own Aromatherapy Product Businesses and also has a coaching program. You can find more details at www.aromatherapyproductbusiness.com.
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