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Business Success, Part II: Elements of Staying on Top
By: Cathy Christensen
Posted: April 28, 2010, from the May 2010 issue of Skin Inc. magazine.
“Being up a little and having a comfortable enough cash flow; it’s a trick, but it’s what makes Glen Ivy go,” Gray says.
Editor’s note: This article is Part II in the three-part series about Business Success. Part I, which addressed aspects of a successful company, appeared in the April 2010 issue, and Part III, which explains various strategies for success, will appear in the June 2010 issue.
In Part I of the Business Success series that appeared in the April 2010 issue of Skin Inc. magazine, the details that go into making a successful company were examined, including the importance of thorough and pinpointed logistics, unwavering perseverance and a positive owner outlook. With just the right combination, these aspects can result in a vibrant and profitable company. But once a business breaks through the first several years and starts seeing its numbers in the black, what are the next challenges on the horizon that will need to be faced to ensure that the company not only stays in the black, but also becomes a community—or even an industry—leader?
Keep your focus
Most business owners will agree that initially achieving success is the most challenging time for a business. “When you start, that is the hardest,” recalls Tazeem Jamal, owner of the 20-year-old spa Skindulgence, The Urban Retreat, located in Port Moody, British Columbia, Canada. “That was a hard time. When you’re new, you’re so excited about what you’re doing; you want to make a success out of it.”
Howard Murad, MD, founder of the 21-year-old professional skin care line Murad, as well as El Segundo, California-based Murad Medical Spa, Murad Inclusive Health Center and Murad Medical Group, agrees. “Starting from zero is the most difficult time,” he says. “You know a lot less than you know when you get older; your experience is limited, and you have fewer contacts. Starting a business requires getting the ball rolling, and soon an avalanche starts.”
After month in and month out of burning the midnight oil and stretching every limit possible, beginning success can evolve into an established business, and an owner’s challenges will change. “As businesses evolve, they require different demands,” states Jan Marini, founder of 16-year-old Jan Marini Skin Research, Inc., located in San Jose, California. “Your role changes, but you have other demands on your time, and you may not be as directly involved in the day-to-day minutia, but you have a great deal of responsibility in keeping the organization focused, making sure there is a clear vision that people can intellectualize, and that there is sustainable growth and stability.”