Q. Richard, your career has served as a major influence for me, particularly your ability to always find time for excitement as part of a healthy work-life balance. I find my own excitement supporting my three children through my work as a hairdresser. It has always been my dream to have my own salon, and build it into a national chain. The problem is I just don’t know where to begin. What steps should I take to successfully transition from an employee to a small-business owner? — Koishi, Japan
Column
Q. Richard, your career has served as a major influence for me, particularly your ability to always find time for excitement as part of a healthy work-life balance. I find my own excitement supporting my three children through my work as a hairdresser.
It has always been my dream to have my own salon, and build it into a national chain. The problem is I just don’t know where to begin. What steps should I take to successfully transition from an employee to a small-business owner?
— Koishi, Japan
A. Koishi, I love that you’re thinking big. It’s great that you’re envisioning a national chain of hairdressers before you even have your first salon. Nobody ever achieved their dreams by thinking small.
However, it’s important to take a step back and think through the practicalities of your plan before you jump into the deep end.
First things first, since you’ll be supporting your family, it’s absolutely crucial to consider the financials. If you don’t have a head for numbers yourself, find somebody trustworthy who does, and bring that person on board.
That’s what I did when we started Virgin Records, since having someone else focusing on the financials freed me up to concentrate on what I was good at: growing the company.
Next, think about the purpose of your business. The world is full of salons. What will set yours apart? Beyond making money, what is your salon’s reason for being? As you grow your team and build your brand, how will you give back to your community? If cash is your only priority, you will be doomed to failure.
Third, consider your current workplace. What problems do you encounter each morning when you arrive at the salon, and how could they be solved? What about your co-workers? What frustrates them most each day? Talk to your customers too — what do they like about the service that keeps them coming back? What complaints do they have, and what could another salon do better?
Think about the little details; they can make a huge difference. Will your salon serve free drinks to customers? If so, could you offer premium-quality beverages without significantly cutting into your profits? What entertainment will you provide? Could you make a deal with a local publication to provide magazines and other content for customers to read? It’s these little touches that people will notice and appreciate.
I often find that the best market research starts close to home, so ask everyone you know for their feedback, starting with those closest to you. It’ll take some time and effort, but your dedication will pay off. Set aside an hour or so each week to ask questions of potential customers, whether in person or online. Then act on their answers by testing them out at your current salon (if you can); don’t just keep them in your back pocket.
Speaking of which, I recommend keeping a small notebook tucked away in your back pocket at all times — you never know when you’ll get some useful feedback, or when inspiration will strike.
I’m taking it as a given that you’ll hire the best hairdressers out there. After you do, take some time to figure out how your business will innovate. You have to provide the basic services your customers want, of course. But you should also introduce new features, services that will get people talking about your salon and sharing their experiences on social media.
People’s interest in hair is something that never fails to surprise me. I am often asked what products I use (whatever is lying around!) and what my style is (just gone kitesurfing!). I learned recently that there is even a Twitter account called @bransonhair featuring the faces of famous people (including Vladimir Putin, Prince Harry and Edward Snowden) magically transplanted onto my own, so that each one has “Richard Branson Hair.”
Clearly, people’s fascination with hair and hairstyles isn’t going away any time soon. So if you can come up with a truly unique offering as a salon, you may be able to crack the market and build your own niche. It certainly won’t be easy, but if you keep thinking big while keeping your feet on the ground, anything is possible.
Before I go, I wanted to let everyone know that this will be my last column from this series of business advice articles. I’ve been writing this column since 2010, and it’s been an absolute blast hearing from so many of you over the years. I’ve particularly enjoyed learning about the challenges you’re facing as young entrepreneurs, and digging into the details of your new businesses.
I trust my insights have given you some inspiration to keep moving forward. And if you haven’t yet committed to the entrepreneur’s life, hopefully I’ve inspired you to take the plunge.
Most of all, I hope I’ve put a smile on your face from time to time. Thanks for reading, and for more from yours truly, please follow my blog at virgin.com/richard-branson.
(Questions from readers will be answered in future columns. Please send them to Richard.Branson@nytimes.com. Please include your name, country, email
address and the name of the website or publication where you read the column.)
© 2017 Richard Branson (Distributed by The New York Times Syndicate)
