Lessons Learned That Helped An Owner At Precision Cosmetics Succeed
Camille, Precision Cosmetics owner, learned the "10/90 rule"—that life is 10% what happens and 90% how one handles it—is crucial in navigating the challenges of business ownership. This realization, gleaned over six years, taught Camille that difficulties, such as financial strain and employee turnover ("you're always gonna have turnover"), are inevitable, and the key to success lies in "how you handle it."
Resilience, Stress Management, Problem-Solving, Overcoming Challenges, Entrepreneurship
Advizer Information
Name
Job Title
Company
Undergrad
Grad Programs
Majors
Industries
Job Functions
Traits
Camille Reed
Owner
Precision Cosmetics
San Diego State University - 2016
N/A
Business Management & Admin
Apparel, Beauty, Retail & Fashion, Healthcare, Medical & Wellness
Entrepreneurship and Business Owner
None Applicable
Video Highlights
1. The 10/90 rule: Life is 10% what happens to you and 90% how you react. Business will always have challenges (financial, personnel, etc.), so the ability to handle stress and adapt is crucial.
2. Starting a business is not easy; it constantly involves problem-solving and managing unexpected issues. Entrepreneurial resilience is key to success.
3. Positive work environment is important but not a guarantee against challenges. Even with fair treatment of employees, there will be turnover and other difficulties that must be managed effectively.
Transcript
What is one lesson that you have learned that has proven significant in your career?
One lesson I've learned, and I've thought about this quite a bit even before reading this question, is the 10/90 rule. I feel like this applies to a lot of things, but specifically to my career so far.
Life, and especially business, is 10% what happens to you and 90% how you handle it. No matter what, in business, you're going to have difficult and stressful times. These can involve money, build-outs, or people leaving.
It's all about how you handle those situations because there's no avoiding them. I initially thought that if I treated everyone well and paid them well, no one would leave and everything would be perfect. That's just not the case.
You're always going to have turnover and financial difficulties at times. You're the one controlling what comes in and what goes out, not just receiving a paycheck. So, realizing that it will be difficult and that you have to be able to handle things, and frankly not get stressed out easily, is key.
I'm lucky not to be a high-stress individual and tend to take things as they come. You just can't think that starting a business will be easy with only a few things to figure out. If it's not one thing, it's the next; with a business, you're always putting out fires.
Learning that these things will happen and that it's how you handle them that matters is the most important lesson I've learned over the last six years.
Advizer Personal Links
@precisioncosmetics www.precisioncosmetics.com