Dennise Williams, Staff Reporter
A customer gets a Totally Male haircut.
"YOU NEED to have a good name and a history of paying back what you borrow," says Sandra Samuels, owner of Totally Male ClubSpa and Salon.
She speaks with confidence after 12 years as a small business owner, and told Wednesday Business how she avoided the many pitfalls of entrepre-neurship.
Totally Male was founded in the heyday of the early 1990s financial sector boom.
"I started Totally Male in November 1994. The idea came from the necessity of male corporate executives to be well-groomed but without feeling effeminate. And back then, barber shops didn't do manicures or pedicures."
The longevity of her business speaks to the first pitfall that entrepreneurs must navigate catering to the market needs versus its wants.
"If you provide a need versus a want, you can't lose. You just can't lose," she states.
"My travels as a former flight attendant exposed me to wealthy men who were well-groomed and very masculine. I felt that men in Jamaica needed a place where they would be catered to exclusively by women."
Fast-forward 12 years and Ms. Samuels is in a swank location on Braemar Avenue in New Kingston, with 2,500 square feet at her disposal. This new spot is a stone's throw away from her previous location in the former Island Life Mall.
LOCATION, LOCATION, LOCATION
And this speaks to the second pitfall location.
The New Kingston locale of her business has been vital to the success of Totally Male because, "I appealed to the corporate types because we had our start during the financial sector boom and New Kingston is where they are."
Incidentally, the spacious setting of the Braemar offices actually offers a sort of escape for clients.
"This location with its courtyard is like a country retreat. When you are here, you don't know that you are in Kingston the birds are chirping outside and we are completely secluded from the hustle and bustle of the city."
MANAGING THE MONEY
Of course, a good product and great location are fuelled by one important ingredient money.
And so the third potential entrepreneurial pitfall is financing. Ms. Samuels is very clear that small businesses must make their banker their best friend.
"Twelve years ago, I started my business with my credit card but I wouldn't recommend that to others. I was just full of youthful exuberance. Now, I would advise any businessperson to get to know his or her banker. You need to establish a relationship with your creditors and run your accounts with integrity. If you run into problems servicing your loan, it is better to go to your bank manager than hide. They will work with you."
But to get along with your banker, you need good cash management skills.
"One of the biggest mistakes entrepreneurs make is to think that the money which comes in belongs to them. Staff, statutory obligations, income tax, rent, your accountant, gardener and helper all come first. And then with what is left, you plough back into the business."
Ms. Samuels believes strongly that entrepreneurs should invest their profits.
"I must say that it is important to invest in other assets to have the equity to tap into. Entrepre-neurs could look at real estate as one example."
DIVERSIFICATION
Another pitfall that entre-preneurs should sidestep is depending on one source of income.
"I find that I have been able to keep my head above water by diversifying my income stream. We started with grooming and have expanded to offering a steam room, personal training and gym facilities, as well as a lounge and networking area."
And Ms. Samuels says that she is currently negotiating with another businessperson to franchise the Totally Male concept to the North Coast.
A final set of pitfalls that must be navigated is staff and customer relations.
"You have to have interaction with your staff members and give them a sense of being a part of the business. And with your clients, the personal touch is essential. You have to be in your business so that people can see the owner and feel comfortable that they are getting value for money."
Yet, despite the many pitfalls that entrepreneurs must navigate, Ms. Samuels says, "It's never the wrong time to start your dream. If you are committed, have done the research and feel the success in your gut, then go for it. The number one thing is to stay focused and spend your money wisely."
