The Beauty Business (F10)

Business Skills

business operation

the recurring processes or activities involved in the running of a business for the purpose of producing income and value

business plan

a written description of your business as you see it today ad as you foresee it in the next five years (detailed by year)

business policies

the rues or regulations adopted by a business to ensure that all clients and associates are being treated fairly and consistently

business regulations and laws

any and all local, state, and federal regulations and laws that you us comply with when you decide to open your business or rent a booth or suite

capital

money needed to invest in a business

consumption supplies

supplies used in the daily business operation

corporation

an ownership structure controlled by one or more shareholders

demographics

information about a specific population, including data on race, age, income, and educational attainment

goals

a set of benchmarks that, once achieved, help you to realize your mission and your vision

insurance

guarantees protection against financial loss from malpractice, property liability, fire, burglary and theft, and business interruption.

marketing

a strategy for how goods and services are bought, sold, and exchanged

partnership

business structure in which two or more people share ownership, although not necessarily equally

personnel

your staff or employees

record keeping

maintaining scutate and complete records of all financial activities in your business

retail supplies

supplies sold to clients

sole proprietor

individual owner and, most often, the manager of a business

vision statement

a long-term picture of what the business is to become and what it will look like when it gets there

written agreements

documents that govern the operating of a business, including leases, vendor contracts, employee contracts, and more; all of which detail, usually for legal purposes, who does what and what is given in return