Want To Take A Career Leap Of Faith? Here’s What You Should Know First

Three years ago, Tiffany Rose Dean left the glamorous world of being a celebrity fashion stylist and costume designer. She took the many valuable lessons she learned from her celebrity clients after decades of working in the entertainment industry and decided it was time to start her own company.

That company was Hollywood Hair Bar, a hair product line that Dean built from the ground up. She started the brand with $500 and, in just a few years, has turned it into over $40 million. The brand has seen massive success, gaining hundreds of thousands of followers across social media platforms, and was even highlighted as the top Black-owned beauty brand on Snapchat and Yahoo Finance. 

So many people dream of one day quitting their desk job and really taking that leap of faith into entrepreneurship—and looking at people like Dean who have had success as business owners makes it all the more tempting. But, there are a few things everyone should know before they dive head-first into the world of working for themselves. In celebration of National Black Business Month starting in just a few days, here are Dean’s four best pieces of advice for anyone who is looking to take the leap into starting their own business.

1. Do your homework.

Dean’s 20 years of experience in the entertainment industry were crucial to her expertise and success as an entrepreneur. Working for the biggest celebrities and fashion brands in the industry, she was exposed every day to the ins and outs of launching a multi-million dollar brand and scaling a business for massive growth. “You really have to understand your market and know how to get your product in front of them,” said Dean. Whether it’s taking a course, shadowing a mentor, or just asking as many questions as possible to people who have done what you want to do, make sure to learn as much as you can. You’ll certainly learn more along the way, but it can never hurt to do your homework.

2. Make sure your product is good.

It sounds painfully obvious, but especially in the beauty industry, most products don’t actually do what they say they will. It’s so important to have integrity and to take as long as you need to ensure you are releasing a quality product—because it’s not about gaining one-time customers. It’s about customer loyalty and finding those people who will continue to use your product time and time again. “When you offer an amazing product that works,” said Dean, “customers will continue to shop with you, your return customer rate will grow, and you can scale as long as you continue to market your product.”

3. Find your audience and cater to them.

Speaking of marketing… Dean knew that the demographics of the audience she wanted to reach combined with the pandemic keeping people at home meant that the vast majority of her marketing had to be through social media. She started marketing in a very “grassroots” way on Instagram, and it became the foundation of her business’ success. “I knew what my targeted consumer wanted to see and I nurtured that audience,” said Dean. Just as Dean recognized her customers were on Instagram primarily, you need to know where your customer is and which marketing methods will be impactful for them. It won’t always be social media, either. Perhaps it’s through email, or speaking at a conference, or even renting a billboard to promote your product. Whatever the method, find your audience and cater to them.

4. Reinvest your profit into the business.

Without working capital, a business cannot succeed and grow. So, be prepared to take the profit from your business and use it to grow the business. Dean, who has spent millions of dollars on growing her brand, said: “Hollywood Hair Bar would not be the household name that it is today without me investing and making sure to do right with all of my profit.”