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My full assessment

Set up and Planning

  • Performed a competitive analysis
  • Assessed the value of the market
  • Interviewed potential customers
  • Tried to sell to customers
  • Confident
  • Confident

Market Research

  • Very Confident
  • Confident
  • Confident
  • Confident
  • Neutral

Finances

  • Not confident
  • Not confident
  • Not confident
  • Neutral

Sales

  • Confident
  • Confident
  • Neutral

Operations

  • Confident
  • Very Confident
  • Very Confident
  • Confident
  • Very Confident
  • Confident
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BT

Beth Thompson Entrepreneur

Location France
Venture Industry Beauty/Hair/Cosmetics
Languages spoken
  • English
  • French
Recent Activity

What I need help with

My background as an entrepreneur

My current challenges

I have many current challenges as my company encounters it's second year of business. 1. Navigating supply chain interruptions due to the Covid-19 2. Addressing how to launch new products as some customers have stopped ordering resulting from Covid-19 3. Navigating the new enforced import/export regulations throughout the world, delivery delays 4. Finding distributors and setting up contracts and accounts 5. Selling and staying true to my brand concept though sales are down 6. Developing my brand during these challenging times 7. Budgeting and planning a realistic business strategy during challenging times 8. Monetising followers on social media, getting more sales

Actions I’ve taken so far

  1. Established an EU Trademark and applied for a US/Canada Trademark to develop my brand
  2. Posting daily on social media to advertise products
  3. Ordering samples of new products to show to clients
  4. Keeping in touch with my clients and suppliers to know what is happening in their part of the world
  5. I answer promptly all inquiries
  6. Paid advertising on Facebook
  7. Account established with DHL and customs documents and declarations have been established with French customs

My future goals

My future short term goals - with in the next 6-12 months 1. Developing large accounts (5), clients who order to manufacture 2. Finding distributors in several African countries 3. Finding distributors in the US outside 4. Finding a distributor in Dubai

My longterm goals - 6-2yrs 1. Opening a second company - a hair showroom and meeting place/classroom space for young hair artists 2. Developing several products for my business that can be sold or licensed 3. I want to develop a business plan for funding of new products

My motivations to work with a mentor

I want to work with a mentor so that I can learn from their experience and guidance. I need someone who can see the bigger picture from a different perspective and who can challenge my current strategy. My weakness is the in and outs of finance and financial planning within a business. I am a single partner in a French LLC (SASU) I think that the best way to learn is to learn from someone who is successful in the industry. I want to bounce ideas off of someone who knows about running a successful business. And I want to take my business to the next level!


About my venture

Lux Symbolica Started 2019

Lux Symbolica, is a B2B retail and wholesale hair supplier for the theatrical, film and hair loss industries. Our specialty is rare virgin unprocessed hair from Europe and India. We provide a luxury product and extensive personalised customer service and private showrooms. We address a niche market.

Countries of operation: Belize, Belgium, Canada, Brazil, China, Denmark, France, Germany, Finland, India, Israel, Lithuania, Netherlands, New Zealand, Norway, Slovenia, Spain, Sweden, United States of America