We caught up with the brilliant and insightful Sheryl Henderson a few weeks ago and have shared our conversation below.
Alright, Sheryl thanks for taking the time to share your stories and insights with us today. Are you happier as a business owner? Do you sometimes think about what it would be like to just have a regular job?
As a business owner, you are faced with many challenges, which sometimes leave you questioning did you make the right decision when choosing to leave the security and structure of a job. Unfortunately, I am not exempt from those feeling and even acted on them once.
In 2014, after two years in business, I was in debt and experiencing financial hardship. I would like to say that this was no fault of my own, but honestly, I would be lying. In 2012, I launched Dynamic Beauty and Supply LLC with the idea of selling hair bundles. I opened a business checking and savings account for payment processing and business expenses. I was adamant about keeping my business and personal funds separate and would make daily cash deposits to insure I wasn’t going to be tempted by all the extra cash that was coming in. A huge part of my success was the delivery option for my local customers. Most of my business was local due to this convenience. As a result, the majority of my payments were cash transactions.
My business took off faster than I was prepared for and it was truly a blessing. As the money continued to roll in, I began to get sloppy with the separation of personal and business funds. By now, I was relying solely on the revenue from my business to maintain my living and personal expenses. Therefore, I justified this change in my pattern by telling myself that it didn’t matter as long as the money was being made on a daily basis. Additionally, I began to hang out more and was dedicating fewer hours to marketing and the overall operation of my business. As a result, my business revenue suffered and when it came time to purchase more inventory, I fell short.
I was angry and disappointed in myself and attempted to do some damage control by running promotions and specials to quickly get rid of the remaining inventory. However, the sales weren’t coming in consistently as before due to my now limited product availability on the more popular lengths and textures. Things were spiraling and I didn’t have enough money saved to sustain my business and barely enough to pay my mounting bills.
After borrowing from Peter to pay Paul just to pay my living expenses, it became painfully obvious that I could no longer rely on my business alone. In fact, my business was in a state of despair. and barely sustaining. I knew it was time to swallow the little pride I had left and began my job search.
It didn’t take long at all to solidify a job through the temp service. I had plenty of experience in Customer Service and Administrative roles and the jobs were plentiful. I told myself that I would work for a couple of years to replenish my savings and return to my business. However, that goal became more and more out of touch as I settled into the workforce and steady payment structure. Throughout this time, I would constantly get affirmations that a job was not my passion. In addition, my mother would constantly remind me how happy I was and accomplished I felt when I was operating my own business. Meanwhile, the hair distribution industry was growing at a fast pace. I sat by and watched entrepreneurs live out my dream while I sat behind a cubicle.
After six years of praying and planning. I gained the courage to finish something I started years ago. This time I was coming in wiser, stronger, and focused on my purpose. I restructured my business plan and added more products. I trademarked my brand and logo. I researched and used the resources provided to me as a small business owner. I used the same discipline and work ethic that I brought into the workforce to drive my business. If I could help another business grow and sustain then I was determined not to be lax when it came to my own. I was coming for everything that I lost in the first round. This time it was personal!
Sheryl, before we move on to more of these sorts of questions, can you take some time to bring our readers up to speed on you and what you do?
Dynamic Beauty and Supply LLC was fueled by the desire to be a pioneer in an industry where black and brown women were the largest consumers but not the pioneers. I initially launched with the idea of having my very own brand of hair. However, the beauty industry is a billion-dollar industry with consistent growth. Therefore, I decided not to limit my earning potential and carry products that could appeal to consumers of all races, ages, skin types, and lifestyles. From that came the entire Dynamic Beauty brand – Vegan and cruelty-free cosmetics, natural skincare products, mink magnetic eyelashes and liner, neoprene double-pressure waist trainers, and stage 2 and 3 Columbian fajas.
Our product line was created with you (the consumer) in mind. My main objective is to provide products that can sustain in this ever-changing industry. We build relationships through trust and consistency. Our return customers are a testament to the quality of our products. We strive to be a solution to common issues that we ourselves have faced when seeking a brand that makes us look and feel good. The added bonus is that we care about the integrity of your skin. We pride ourselves on carrying cosmetics that do not have harmful and toxic ingredients that can cause adverse reactions to the very skin we are aiming to protect.
Our flagship skincare product, Hydra-Glow Anti-Aging Serum, eliminates acne, hyperpigmentation, acne scars, and fine lines all while preventing future breakouts and keeping skin hydrated throughout the day. The core ingredients are Hyaluronic acid, alpha arbutin, and Vitamin C. This formula was created and manufactured right here in my Atlanta home. After suffering from the aforementioned skin issues and spending a small fortune on skincare products to combat these embarrassing issues, I knew it was time I used my knowledge and experience to create a serum that could be an all-in-one solution that could eliminate the need to buy various products to treat these issues individually.
I wasn’t satisfied with having products that just zeroed in on one area of the body, we wanted your beauty to radiate from head to toe. This is why we have added post-surgical fajas to our inventory. Dynamic Beauty body shapers are made in Columbia and are of the highest quality and compression. The design of these fajas is custom and proprietary for the Dynamic Beauty brand. The target audience are those recovering from cosmetic surgery – primarily liposuction, Brazilian butt lift, and tummy tuck. Stage 2 and 3 faja compressions are medically approved and recommended by surgeons worldwide for these cosmetic procedures. We are the first manufacturer to implement removal rods to assist with the various stages of the recovery process.
We’d love to hear your thoughts about selling platforms like Amazon/Etsy vs selling on your own site.
I have a company website where customers can view and purchase any product from the Dynamic Beauty brand. However, I still use third-party marketplaces such as Etsy and Amazon. The concept is to gain more exposure by furthering my reach. These platforms have proven to be influential in the growth of the brand. However, it does come with its drawbacks. The seller fees will definitely cut into your profits and can be troublesome to startup companies with little capital.
What’s a lesson you had to unlearn and what’s the backstory?
As a first-time business owner, I put myself in a compromising situation by not making my business a priority. At a time when I was experiencing serious growth and an increase in revenue, I felt that I could slack on responsibilities. My days began later and the hours worked became fewer. This was a mistake that almost cost me my business.
As a business owner, you must have discipline. It may seem lonely and unfair as you witness the people around you take trips, go out for a night out on the town, and just enjoy life. Just know that you are sacrificing now to reap the ultimate reward later. No one will force you to get out of bed, meet deadlines, reinvest your money, etc. – you have to want it. There will always be unforeseen business related expenses and you must constantly reinvest to grow your business. Therefore, it is imperative that you pay yourself then put the earnings back into the business. It costs money to make money.
Contact Info:
- Website: www.dynamicbeautysupply.com
- Instagram: https://www.instagram.com/dynamicbeautysupply
- Facebook: https://www.facebook.com/DynamicBeautyAndSupplyLlc
- Yelp: https://www.yelp.com/biz/dynamic-beauty-supply-atlanta
Image Credits
RJ at Photogenik Studios 5900 Sugarloaf Pkwy Suite #125 Lawrenceville, GA 30043