Advice on launching your hair biz on a budget.

Want to know how to start a hair business with no money? Working with little to no budget? I get it. I made this video for you.

TRANSCRIPTION:

The most important thing every entrepreneur needs to have if theyare working toward success, like real life changing six-figure sidehustle success, and that one thing is figure outability. That’s kindof a term that I’m borrowing from one of my business mentors,Marie Forleo. She’s super, super dope. I love all of her videos and allof that stuff, but she has a saying that she repeats that she got fromher mom that is, everything is figure-outable. If you do not havefigure outability, you are not going to make it as an entrepreneur.

What is figure outability? That is say Facebook decided to shutdown one of our ad accounts. This account was the [inaudible 00:00:58] and it was literally like printing money. Facebook decidedto shut that down and if you have ever dealt with Facebook and theadvertising platform or ever needed any assistance, you know itsucks. They never get back to you. They responded with the samecopy and paste response four times. While we were asking foranswers, like what did we do? It’s literally just freaking hair, youknow. Just hair. No weed. What’s going on Facebook? We’re tryingto be better, but you don’t want us to.

Instead of me emailing Mark Zuckerberg like how so many of youemail Charlo asking me to do things and asking me for informationthat I know I’ve emailed you, instead of me doing that, you knowwhat I did? I decided to figure it out. We created another ad account.I had my ad account manager that works for me directly go aheadand take all of the videos, and all the information, all of the data,begin rebuilding all of that stuff. We spent the last five, six daysdialing all of that stuff back in, literally morning and night, becausethe ads on this new account are not responding the same. So, whatcan we do?

We have to retarget. We have to make sure that only these ads aregoing to in- We have to figure it out because at the end of the day,Mark doesn’t care if I’m making any money. He has all of you stillpaying him while you’re running your ads and figuring out all of thatstuff.

Let me give you another example of a time we needed to figuresomething the F out. Okay. We have this mural that was supposed tobe the crowning joy of my office space. Everything was on holduntil we got the mural in. Well, like I told you guys in the lastdream, turns out it was wallpaper. Wallpaper, we tried. It was notgoing on in a way that marble should look. I mean, bubbly marble isthe opposite effect of what we were trying to do. Bubbly marble. So,we looked into- We decided to figure it out. We’re not going to beable to do this, so what can we do?

We called around to people that do painting and all of that stuff. Youknow what they were asking for us to wallpaper just one wall?$1,000. I would call that a misappropriation of funds at this point.We were in startup mode. We still haven’t recouped our- Well Well, I was going to say, we haven’t recouped our initial investment,but we have. In the first 20 days of the new year, we- I want to showyou guys these receipts. I’m really excited because it’s really fun. Ilove making money. I’m making a lot of it and relatively easily, butyeah. It’s not the big reveal just yet. So, we’ll get to that soonenough. Stay tuned for that.

What was I getting to? Figuring stuff out. Just figuring stuff- Oh,yeah. $1,000 for one wall. We’re not doing that. So, we’re paintingthe office white. We’ve got the furniture moving in that we can.We’re figuring it out because what? At the end of the day, no onecares about my little feelings. No one cares about my wall, but me.No one cares about my glorious dream office space that I put somuch time and heart into planning out, and I have so many plans for.You know? Do I need another business partner? No.

No, but I am playing with this idea of creating a franchise of blackowned beauty supply stores that’ll all carry white label extensions,of course. Instead of me having to be there and all of that stuff youpay your franchising fee, and then we help to just supply you witheverything that you actually need and you run it, and we have zerorisk of you hurting our bottom line or anything because you’vealready paid us, and if you don’t follow these things, then we sue theshit out of you. So, playing with that idea. That’s probably the onlyway that I would partner with any other businesses just because Idon’t know you. If you guys have ever done business with someoneelse, it can be a lot.

I always hated group projects when I was in school because I’mreally, really smart and I will not sleep to get my work done. It’snothing to me. 99% of people aren’t built like that. You would justbe a weight on my back and my success just kind of weighing medown, and that’s just an assumption off top. Obviously, I don’t knowyou, but the reason why we’re doing so much volume in thisbusiness at this early stage still in pre-launch mode is because of me,period.

I say all of that to say, figure outability is something you need tomake sure that you have and oh, talk about a wrap around. Thatleads us to the next chapter in our book club. We’re reading Thinkand Grow Rich this month. I understand we only have 10 more daysof the year, of January, to get through the rest of the book. So, we’reon chapter six. We’ll get through it. This chapter is aboutimagination. If we’re talking about figure outability, a huge part ofthat is what this book talks about imagination.

It says there are two types of imagination. One is the imaginationwhere it’s just the divine energy is speaking directly to you. It’swhen you just have an idea pop up in your head. It’s what artistsartists have, where you aren’t pulling directly from anything else,but from yourself and from the infinite intelligence. There is thattype of imagination that is really intimidating because I was neverable to draw inside of the lines. I was like fuck art class really, reallyearly on. Give me some math. Give me right and wrong. I can figureit out.

Then, there’s the second type of imagination which I am really,really great at. The book says that this is actually more useful if youare working to make money. What did imaginative faculty? Twoforms of imagination, synthetic imagination, that’s what we’retalking about now and then creative imagination is the artsy one.

Let me just go ahead and read the definitions of these because thebook does it a lot better than I could. Two forms of imagination. Theimaginative faculty functions in two forms. One is known assynthetic imagination and the other as creative imagination.Synthetic imagination. Through this faculty, one may arrange oldconcepts, ideas, or plans into new combinations. This faculty createsnothing. It merely works with the material of experience, education,and observation with which its fed. It is the faculty used most by theinventor with the exception of the genius who draws upon thecreative imagination when he cannot solve his problem throughsynthetic imagination.

So, when we’re talking about synthetic imagination, what we’redoing is we’re using the experience that we’ve gone through in life.We’re using other people’s discoveries. The idea to start a hairextension company, for me that’s totally synthetic imagination. Iknow that there’s a need. I flew to China, so here’s the source of that.I didn’t just, oh my god, I’m going to start this. No. I didn’t createanything new, but I am building on it and helping to actually build aplatform that helps women actually build their hair businesses asopposed to just throwing bundles at them.

When it comes to figure outability, you have to use syntheticimagination. If you’re hit with a problem, if you’re hit with a roadblock, you have to be able to sit back for one second and think usingthe experience you’ve gone through, using the experience that otherpeople you look to have gone to and shared so that you can makethe right decision. When you’re hit with another road block, youhave to look around, you have to be smart about how you’re solvingthe problem and always relying on your own experience especiallyas a new entrepreneur is going to cost you a lot of money.

Definitely, read that chapter. It’s a lot to cover. This book is one ofmy favorites because it covers so much, but in this chapter, it talksabout the, and I think it’s really creative how the did this, but it talksabout the fact that Coca Cola, the recipe for Coca Cola, was actuallyformulated by a physician, or was it a pharmacist, who sold it to aman that it gathered every dollar that he saved which was $500 andhe bought the recipe off of this physician or pharmacist. What heused then that made it more than just a recipe, more than justanother recipe that this guy was trying to sell was his imagination.Because of that, everyone knows Coca Cola.

Coca Cola is one of the largest, also most empowering companies,in the world with all of the micro businesses that they’re helping tostart throughout the African continent and have been doing sincebefore that was trending for everyone else to do. It’s a company thatI really respect. The first time that I read the chapter in the book, Iactually went and bought some Coca Cola, and it was like one of thefirst times that I drank Coca Cola for the experience. Actually, itwas delicious.

Just saying, figure outability is super important for all of you tohave. Using your imagination, understand that’s also important, butif you don’t have that creative imagination, that’s fine. You just needto be resourceful. You need to understand that it is literally your jobto figure shit out. What does CEO, Chief Executive Officer- Yourjob is the figure-it-outer. I own a company and my job is to continuefiguring stuff out. So, thank you.