Entrepreneurship

Entrepreneurship is taking a risk, bootstrapping, and the extraction or creation of value. Entrepreneurship is the robust and dynamic process of being energetic in launching and running a new business. The goal in taking on risk is to create profit. The creators who think outside the box, are game-changers who see gaps and create products and services to meet those gaps. These creators are called entrepreneurs. Entrepreneurship involves seeing opportunities and exploiting them. It takes hard work, guts, determination to acquire and deploy resources required to be efficient and be first to the marketplace with products and services. Entrepreneurs work hard and do not take no for an answer.

Entrepreneurs have to come up with a business plan. They need to do a SWOT, PESTLE, look at the McKinsey 7-S Framework, do a market analysis, and then align it all together under the Balanced Scorecard. Top that with shrewd leadership, financial acumen, taking ownership of success and failure, and survive in the ecosystem. An entrepreneur thrives in a landscape of risk, uncertainty, and ambiguity.

Ethnic, institutional, cultural, feminist, social, nascent, or project-based are the different types of entrepreneurship.  Social entrepreneurship is where the entrepreneur expands, fund and execute solutions to environmental, social and cultural issues.

Four columns has interviewed many women entrepreneurs. I had interviewed Paula a while back while she was running a beauty salon. Paula is a successful and serial entrepreneur who has an entrepreneurial mindset. I catch up with her as to how she is dealing with COVID and overcoming odds which is part of entrepreneurship.

Paula, what have you been doing since our last interview?

Since our last interview, quite a lot has happened, from relocating, rebranding, re-developing, and restructuring, all the “re’s” for the reason for my re-birth like the Phoenix to surpass the disruption of COVID. Just like most business owners, we have been victims of, on-again, off-again COVID operating restrictions, and our attempts to create some momentum have been seriously challenged.

You did not let COVID get to you. You pivoted and came out with a new line of business? Tell me about it?

As I said, like the Phoenix I rebirthed by taking this unfortunate time to develop what I have been dreaming and working on for years, and COVID simply created the opportunity for me to take this new venture more seriously. Let’s face it, during regular business hours my focus has always been on giving my clients the very best of my experience and time possible, and so that did not leave me much spare time to work on new ideas.

So, when we saw that the personal care restrictions were going to stick around for a while I decided to go all-in on the new idea because now I had the time. Pulling together a team of advisors, manufacturers, online shopping developers, and marketing specialists, we quickly formulated a plan to create, complete, package, and market the new Paula’s TRY Miracle skincare collections.

Why should we use your organic and vegan products?

For us organic and vegan was the only way to go. If you can remember our last interview we spoke openly about me using only vegan and organic products in my spa. Our skin is already subjected to so many toxic things in our environment and the only true way to combat that is with nature’s own natural ingredients. Our products contain highly effective medical and organic grade ingredients such as Apple Stem Cells, Peptides, Plant Sourced Pseudo Collagen and Hyaluronic Acid, Vitamins, Enzymes, and AHA exfoliants. Exotic skin conditioners such as Gotu Kola, Lychee, Inca Inchi, Konjac Root, Argon, Murumuru, and Kukui Nut offer a distinctive cachet to each exquisite product. These powerful skin conditioners, oils, butter, and antioxidants will help clients achieve a healthy natural glow!

Talk to me about some of the lessons you have learned with your salon and opening a new line of business?

One thing is for certain, you cannot rely on what you did last year to provide you with the best possible results for this year. That approach is a sure-fire way to lose your business. People are more demanding today about what they want and when they want it. Technology has found its way into every corner of our lives and the result is that we have developed into a society of supply and demand. When someone decides it’s time for them to buy or sell something, they are able to execute that transaction online and in record time.

Now within that scenario that I just described to you, Jerry lies a great opportunity because with such speed and hustle people soon lose themselves, they get stressed out and with COVID on top of that, many are ready to explode. They need to de-stress, relax and regenerate now more than ever. This is where our pivot to promoting a healthy skincare regimen adds true value for those people who understand and accept that it makes sense to take better care of themselves, or quickly burn out.

I am sure as entrepreneurs we all make mistakes? Help me understand some of the mistakes you made and what you would do differently going forward?

True entrepreneurs often make mistakes and are sometimes distracted by what we call “shiny objects”. There’s always something that comes along that appears like a great idea on the surface. What I’ve found over time is to trust my true instincts and remain true to my roots as it relates to my business. Yes, I’ve experienced great heartaches, business interruptions along with many other things in my life, but nothing has been as rewarding for me as to see the feeling of revitalization on the faces of my clients, family, and friends.

Yes, like many others I’ve been taken in by a smooth word and a fleeting moment when I believed in someone that really only had their eye on either their own bottom line or well being with little or no consideration for myself. I believe I’ve gotten better at recognizing those things when I see them now.

So going forward for me, if the idea is not aligned with my core purpose, and values around giving and serving nothing but a great experience to my clients and others, then I am not very likely to be that interested in it. Having now found this great opportunity to bring one of my personal dreams to the forefront, with this new Vegan and organic product line, I’m feeling blessed.

What are some of the challenges your business is facing?

I don’t have a crystal ball Jerry, but if this current pandemic continues to plague us and prevents us from being in a position where we cannot return to a full-service salon and spa. We are going to have to rebuild and maybe redesign the process by which we serve our clients, which I am prepared to do.

Jerry before I go I want to say this to you that the hardship and past are behind me now, I will not dwell on it, nor talk about it anymore, but truthfully it was the past, my faith in God, and all the hardship that made me who I am today. In saying all of this I want to encourage you and the audience that whatever it is you are going through right now it is only for a moment. This is only a season and every season changes and change are imminent, growth is not possible without change.