Jeff Kufalk has an extensive experience in business management and a successful career in the telecom industry. Jeff is also a sidepreneur who co-founded Skinchanted along with his business savvy wife. After identifying gaps in the existing skincare market, he set out to create customizable skincare solutions that are both hand-made and natural and employing the marketing skills he gained while running a non-profit for injured motorcyclist and a small advertising firm. Jeff has steadily grown the company’s online shop and their physical retail store. As a result Skinchanted has enjoyed features in several beauty blogs.
Jeff and his wife created simple products such as soaps, lotions, lip balms and shipped them out to 50 of their friends and relatives. They gathered up their input and refined the process. Since he already had a community base from the non-profit that he had previously ran he was able to reach out to those people and it went really well. Their whole business concept was time consuming and labor intensive. There may be a time where you would have to pull out some of your retirement money to continue a business that you believe in. Have a structured business meeting to ensure that goals are being met. Create an agenda and go over the details. Marketing tactic: getting the product into people’s hands.
Jeff’s One Idea
Jeff and his wife moved to Atlanta to make a big change in their lives. After taking some time off, his wife needed an outlet for her energy. She and Jeff decided one night while in a bath, to build on skincare and bath products as a retail business. Something they’ve never done before. There’s a couple of reasons why they felt that there was a gap in the skincare products that are out there now. They realized that even though there’s “natural” products out there right now, there’s no interface with the people who actually make them. They decided to build a retail store where people can come in and talk to them about the products that they make and each of their products are customizable.
Jeff & his wife started out with simple products, soaps, lotions, lip balms, etc. They packaged up those products and sent them to literally 50 of their friends and relatives. After getting input from these people and refining the products even more, they put them up online. They opened a small (100 sq ft) retail store with a short-term lease in an eclectic Atlanta market place. After a while, they weren’t able to keep up with the demands from their customers and they couldn’t expand within their current store. In 2013 they made their leap into the retail scene.
Lessons / Struggles
Their concern circled around the amount of money their growth was demanding of them. Knowing that they won’t be profitable for quite some time, they had to secure additional money.
In trying to grow their business Jeff & his wife did not communicate effectively to where they ended up over spending.
They made sure that they watched every penny that they spent and made sure that they used the money towards improving the business on a daily basis and improving their customer reach.
They realized that they needed to improve their communication and learn more going forward. Together, they needed to know their ultimate goal.
5 Moves To Start A New Business
If he were to start another business today, he would concentrate on five are:
- Buy an existing business or franchise.
- Location, location, location. (lower cost & lower foot traffic – pay for it in marketing)
- Have a solid business plan. Be very realistic.
- Partnerships & networking before you even open the door.
- Money – figure out how much you need and double it.
Getting Everything You Can Out of All You’ve Got by Jay Abraham
Principles & practices – has changed the way he looked at his business. Look at your products and getting good communication from your clients consistently. The more you know about your target market, the better you’ll be able to relate with them on a personal level.
Secret To Success
You have to have good solid communication.
You can’t micro-manage all the aspects of your business. Trust your staff. Business meetings are a must.