The Beauty Bounty: Jo Diep
The founder discusses overcoming an unsuccessful crowdfunding campaign and why instead of pursuing one business idea, she just combined them all...
Name: Jo Diep
Company name: The Beauty Bounty
Date launched: 17/03/2015
Tell us what your business does:
The beauty bounty is a lifestyle company for frazzled Londoners.
We wanted to do something different so we offer a range of services (interior design; beauty and grooming; talking therapies; business coaching, and holistic treatments) under one umbrella company.
Where did the idea for your business come from?
The idea originally came to be about 10 years ago and it’s a combination of a number of different business ideas all rolled up into one single shop.
How did you know there was a market for it?
After talking to lots of different people at networking events; they all said it sounded fantastic and that they would be interested in using the service.
What were you doing before starting up?
Before starting up I was working as a contractor; I’m still doing this alongside some freelance consultancy as the Beauty Bounty grows.
Have you always wanted to run your own business?
I have always wanted to run my own business, it’s in my blood. It was just getting the right business idea in place!
How did you raise the money?
I tried to crowdfund the business but that didn’t work so I used my personal savings to fund the launch. Now I’m bootstrapping and making my marketing budget stretch.
Describe your business model and how you make money:
The business model is similar to network marketing, I’ve built a network of self-employed professionals and once a booking is made the work gets allocated to the appropriate person. The company makes money by acting as an agent but also by building a community of loyal followers and a good client base.
What challenges have you faced and how have you overcome them?
There have been many challenges, mainly with bringing the right people on board and getting our name out there. A strong brand takes time to build so you need patience and dedication.
Goals need to be specific and measurable.
What was your first big breakthrough?
My first breakthrough was getting the website launched without any developer assistance. Also we recently featured in the Guardian, which was a big highlight.
What advice would you give to budding entrepreneurs?
Keep at it, success doesn’t happen overnight; and make sure your service provides people with something that they want or need. Also be clear about your target market. Not everyone is your customer.
Where do you want to be in five years’ time?
In the next five years we would like the business to also offer corporate services, provide pop ups at high profile events, and launch weekend seminars to teach new start-ups the lessons we have learned.