Ann Ayub is the founder of Skinsational Spa, a one stop spa business for beauty services, therapy and home skincare products.

A good business fulfills a market need. When I was starting out, I found a need in modern beauty service technologies and therapists’ behaviours and approach towards this type of business.

I felt that I could come in and formalize how the spa and beauty business is operated by following the corporate script. I set up everything in January 2019 with a capital of Sh. 1.5 million.

It has taken me two years to break even. My main challenge has been marketing the business in order to get the brand known and recognized both in the medium and large business categories. This means that my business growth is still developing.

However, I have tonnes of confidence and experience to take it to the next level, especially since I was already working in a similar business before I ventured out on my own.

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I once used social media influencers to market my business. This turned out to be a costly money mistake. By the time I realized that I was not getting value for what I had paid, I had already parted with a significant amount of funds. In retrospect, I had invested in social media influencers without getting to understand their audience and what my gain would be.

Do not listen to people’s advice on how to best run your business or how to get your business out there. Each business is different. Do your due diligence, and research and ask questions until your expectations are satisfied.

I usually set money goals and start saving towards them. I am currently saving for the future expansion of my business. I don’t save in vehicles that don’t give returns. I prefer where interest rates are above inflation. That way, I know that the money I am saving is also working for me through passive gains. I am also a low risk investor.

I do not think that my heart can take a huge loss. I am glad that I am investing during the age of information technology when investment materials are readily available online as well as real-time investment news updating me on how my savings and investments portfolios are doing.

One thing I have come to learn is that I would be miles ahead had I started saving and investing early on during my early 20s. It is however not too late to chase after financial freedom. And even if I could turn back the hands of time, there is very little that I could alter in my life.

I would nonetheless trust myself more with decision making because as the founder of the business, I understand my ‘Why’ as an entrepreneur more than anyone else could ever do.

It is proper to ask for professional help if you are struggling with money management. But you have to be careful when selecting the financial coach. You don’t want a motivational speaker, but rather someone who will tell you with utmost honesty what you are doing wrong and how you can do better with your money and investments.