Tips for turning your entrepreneurial idea into a $1 million business

Build your empire, girl boss!

By Jess Arrowsmith • 1 month ago • STYLE


Tribe, founded by beauty therapist Kayla Holihan, is a brand you’re probably now familiar with (or, you will be – trust us!). The beauty brand is totally natural, vegan-friendly and effortlessly it-girl cool. So, how did Kayla turn her entrepreneurial idea into a seriously successful beauty business? Naturally (pun intended), we sought answers from the expert herself. Keep reading for Kayla’s top tips for turning your idea into a $1 million brand (and counting). Grab your pens!



Have the right idea

Think about who your product/service is for, and most importantly, how does your product/service help people? It’s vital that you are passionate about your idea as that is what is going to drive you to turn it into a million dollar idea. Business is hard and being passionate about your idea motivates you not to take no for an answer and always push through the challenges.

Your idea also needs to have a clear niche or point of difference.. I was entering a very saturated market by creating a skincare brand, but we are specificially ‘skincare for sensitive skin’ which is our niche and makes us stand out in the crowded marketplace.


Find your audience

You can’t be ‘something for everyone’, but you can be the perfect something for someone. Who is your product for? How can you get your product in front of those people? Where are they hanging out?

We sell direct to consumer and Australian influencers on Instagram is the most effective way of getting the product out there in front of the right people. All of our marketing images and wording is designed to appeal to Australian females as they are the main demographic using Tribe Skincare.



Social proof/brand trust

People want to use what everyone else is using and want to know that it truly works and gives results. We use social media influencers as social proof and also our own customers. They track the results at home and submit photos of their results to be featured on our website and Instagram. This shows new customers the potential results they can expect as they are seeing the real results of real people who have made the switch to Tribe Skincare.


Keep people coming back

It takes money and time to acquire new customers, so you want to ensure those customers are returning to purchase from your business frequently.

As skincare is a consumable, people have to return to us every 3-5 months so the business is always growing. 80% of your businesses revenue can come from your 20% most loyal dedicated customers so it’s very important to look after them with rewards and incentives. Your customer service and customer experience are key for ensuring your customers return time and time again.  


Get the right help/team

You can not create and operate a $1-million business without any help. You need to play to your strengths and then gather a tribe of people that can help with your vision. You can either employ people to work directly for your company our outsource tasks to other businesses (eg, graphic designers, marketing agencies, etc).

With Tribe Skincare, I outsourced manufacturing from the beginning, but tried to do everything else myself. I now have a small team of people I work with that help me get everything done each day and everything is done to a higher standard as the team are all skilled in their areas. 





 

 

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