Business 101

Secrets of Creating a Million Dollar Business

business facadeI started my first bricks and mortar business while still working in my profession as an obstetric sonographer – I loved my profession, it was such a privilege to be able to scan pregnant woman and be part of their journey to becoming a mother.

But I wanted to learn about business and I learn best by doing, so I made a decision to open a Brazilian waxing salon on the Gold Coast. I knew nothing about the beauty industry, but what I did know was that there was no-one offering speciality Brazilian waxing in a place (The Gold Coast) where everyone wore bikinis!

So I set out to find a shop and some beauty therapists even though I had not one single client. I had read lots of books though and knew I had to work on my business and not in it. Most people go into business and tend to buy themselves a job, rather than building or creating a business.

BusinessI found a great location and used my negotiation skills learnt from property investing to negotiate a great commercial lease even though I had never done this before and didn’t really fully understand the option terms.

I knew as a new business with no experience I would not be able to get a business loan so I redrew on one of my mortgages to fund it.

The shop was great – excellent location and space – so we decided to make it into a six-room salon. An architect friend designed the interior for me, and my husband and a builder got together and did the fit-out at a fraction of the cost of a shop-fitting company.

This allowed us to buy the best salon software package available at the time with a great database system and enabling us to text clients.

I also negotiated every single item we had to purchase for the salon as I was entering into this as a business and did not get emotional over whether the disposable underpants were pink or white (the pink ones were 10 times the price - forget it). I knew that every cent I spent would affect the bottom line.

Thinkand Grow richAt that time I was reading Think and Grow Rich by Napoleon Hill, and it said to imagine yourself providing the product or service and getting a return for it and to state what you wanted the turnover in dollar amounts to be.

So I did just that; you can imagine my surprise when the turnover for the first year was exactly what I had written down when reading the book, even though I had never thought of it again. Two years after opening the business I sold it debt-free for a phenomenal profit.

The salon took off from day one thanks to good old-fashioned service, doing things better than anyone else and some unique marketing strategies.

I loved my time in this business and the experience I had, the people I met and it has led me to the path I am now on and helped me realised that a bricks and mortar business was not for me. The financial reward allowed me to spend the next three years of my journey doing whatever I liked, which led me to an online business and my book series.

Grab 3 free chapters from my business millionaire book by entering your details at the top of this page.Sketch arrow