Essentials for entrepreneurial success: Lessons from renowned hair loss solution CEO
We often attribute extreme success with some form of genius or innate talent. Truthfully, success is hard-earned and comes with years of preparation and training.
Take a look at any world-class athlete. It was a combination of passion and disciplined training that got them over the finish line, time after time.
Similarly, entrepreneurs that lack knowledge and expertise are unlikely to dominate the market they’re trying to get into.
Sometimes ideas are so new that they require a far greater confidence push to get to scale on the market. Businesses are often more successful when the founder has spent years doing something in a similar vein, which contributes largely to the research process itself.
For innovative entrepreneurs like Taylor Perry, CEO of Taylor Perry Studios, the key to finding success in niche industries like hair loss solutions was taking years to master a skill and getting to know the market for the product. Perry was a barber for numerous years and always had an eye for aesthetics. He discovered SMP (Scalp Micro Procedure) and found himself relating his technical expertise in barbering to tattooing artificial ‘hair’ on men who were struggling with hair loss.
He not only provides stellar, scalable service but has become an advocate at large for men who suffer from a lack of confidence because of this aging phenomenon.
“I’ve been basically been practicing to become an SMP artist my entire life! It’s no surprise I’d become the best in the world at it,” Perry states. Today, he’s an industry expert whose clients include high-profile individuals like celebrities, trainers, and athletes.
Passion is Integral to Mastering a Skill
Knowing when we have passion for a subject is almost immediate. You can spend hours doing something and it doesn’t feel like hard work. Passion coupled with consistency leads to incremental gains in your technical capabilities and knowledge of a subject.
For Perry, his instantaneous click with SMP led him to become one of the most established leaders in the industry. “Being a barber and tattoos are two things I’ve been doing almost as long as I’ve been alive. When I first learned about SMP, I instantly fell in love,” Perry says.
Be Consistent at Honing Your Craft
The inhibitor that prevents people from doing what they actually love for work— is often the lack of consistency. We realize we have a passion for something, but because it doesn’t appear like it can pay the bills right away, we pivot to other options and don’t put in enough time to hone this craft.
Perry had no idea he was going to be a thriving entrepreneur with a global following. However, he felt like he was technically “training to be an SMP artist all his life.” The technicalities he learned from years of barbering made for an easy transition to providing technical, aesthetic services to men. He could then spend his time and focus honing particular styles, and innovating different products for SMP. Today, Perry has created a whole product line of premium SMP products to help technicians deliver the services with utmost quality.
The lesson here is if you’re passionate about something, always invest time into honing it. You never know what types of opportunities it can lead to in the future.
Elevate Your Value By Leading Others
As you begin to master a specific skill set and witness your volume of clients go up, the next step is to pass along the knowledge. Offering your expertise to the marketplace can bring a tremendous amount of value to your business, beyond just servicing your clients.
This might feel a bit counterintuitive. Why give away preciously earned tips to grow potential competitors? The fact is, people can always find a way to learn the skill you have. By offering to teach others, you can put yourself into an authoritative league. This also becomes a scalable resource you can use to promote your business.
After amassing significant success in the SMP industry—the next natural extension for Perry was to provide training courses, as well as raise awareness for hair loss at large. Perry’s ambition lies far greater than his own career—but he wants to create the #1 SMP brand on the market. A market that encourages the flourish of new talent. The more people are educated in the best techniques, the more credibility this fairly new industry can acquire.
Passion gives entrepreneurs the resiliency and motivation to pursue their endeavors. They are more likely to succeed if they remain consistent in preparing to become indispensable assets in their industries. Sometimes, these opportunities arise by accident, but the key is to remain well prepared. The next step is becoming a figurehead in the industry and establishing a legacy that accumulates value over lifetimes.