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Managing finances, marketing is key

When Beauty Wheels was incorporated in December 2015, in the initial stages, we hired a marketing agency to promote our brand.

Published: 08th March 2017 11:20 PM  |   Last Updated: 09th March 2017 06:24 AM   |  A+A-

Express News Service

BENGALURU: When Beauty Wheels was incorporated in December 2015, in the initial stages, we hired a marketing agency to promote our brand. We were excited to get the message across to as many people as possible, on the services being offered to women at their home.

Unfortunately, the agency did not perform as per our expectations, and it was a big drain on our finances. After few months, we had to do the task ourselves, through word-of-mouth and social networking sites.

The results are encouraging now. The other issue we faced was managing funds. As we utilised a bulk of our finances to marketing, the other areas did not get the needed attention, and we took a few months to make things get back on an even keel. Given the fact that ninety percent of startups shut shop within the first year of their operations, the promoters and founders might well consider these crucial aspects and take proper care in the planning stage itself.

Rubina Parveen is the Managing Director of Beauty Wheels, a company that provides beauty services to clients at the convenience of their home. The company aims to provide employment to 1 lakh women in five years.

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