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Spend It Where It Counts
By: Jane Wurwand
Posted: June 26, 2008, from the July 2008 issue of Skin Inc. magazine.
page 5 of 5
Another part of how you build education into your business plan is choosing a product line that offers education as part of its corporate program. Does the skin care brand you carry offer education not only in how to use its products, but also in how to direct and maintain your own bottom line? The lesson here is not to be swayed by a flashy product in a trendy package that does a lot of advertising. Choose a hard-working brand that works for you by offering education.
In addition to product classes, which generally are offered by major brands at no charge, you also owe it to yourself to actually part with some cash for postgraduate classes not offered by manufacturers. This kind of third-party professional training in everything from adult acne to marketing to men is how you drive your skill level progressively higher in order to command the premium pricing you deserve to charge.
In short, forgo that mural of Botticelli’s Birth of Venus on your wet room wall, and put the money into classes for yourself and the team throughout the year.
Perhaps the consoling bit to remember is this: Exerting a bit of self-control now will give you more—not less—financial clout and flexibility later. Delaying gratification is actually not deprivation, it’s a form of enhancing gratification later, and understanding how your budget works requires a willingness to forfeit some immediate impulses. You must weigh every purchase as a potential factor in your success. But remember, the key is to make it pay off. Willingness equals control, which leads to greater, more consistent cash flow, better credit, more investment opportunities and—dare I say it—more fun.