Ep 43 - How To Start A Business On A Budget With Nnenna Umelloh
In this episode, Nnenna Umelloh, founder and CEO of Black Hair Management, shares how she started her business with only $100. She talks about her journey and strategies that made it work on a small budget.
KEY TAKEAWAYS FROM THIS EPISODE
Do not estimate the role of haircare in self-care. Environment and mental health impact your hair.
Customer acquisition and brand awareness take time.
Validation and testing the business model is important.
At these times, it is better to create strategies and goals not more than a quarter in advance.
If you don’t enjoy what you do, it’s not worth it.
You can have more than one thing that brings you joy.
Learn about your industry and be updated, so you are proactive rather than reactive.
When you are creating a business plan, create several versions and start with the least expensive.
Invest your time validating the business model and your revenue model before you scale.
Before you invest thousands of dollars in your business, check to see first if the fundamentals work.
Book recommendation: The Customer-funded Business by Dr. John Mullins, Ph.D.
TODAY’S GUEST
Nnenna Umelloh is dedicated to making Wash Day the best day of the week. She founded Black Hair Management because it took her nearly a decade to learn how to love and nurture her natural hair. At BHM, she helps women love their natural hair much faster with high-quality hair care products, a Wellness Coach, and science.
Connect and know more about Nnenna and her company here:
Website: https://www.blackhair.management/
Facebook: https://www.facebook.com/blackhairmanagement
Instagram: https://www.instagram.com/blackhairmanagement/
LinkedIn: https://www.linkedin.com/company/blackhairmanagement/
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