Starting a business is a big achievement for many entrepreneurs, but maintaining one is the larger challenge. There are many standard challenges that face every business whether they are large or small. It is not easy running a company, especially in a fast-paced, ever-changing business world. Technology advances, new hiring strategies, and now, political changes coming with the new administration, all add to the existing business challenges that entrepreneurs, business owners, and executives have to deal with.
Maximizing profits, minimizing expenses and finding talented staff to keep things moving seem to be top challenges for both SMBs and large corporations. We have been interviewing companies from around the world to discover what challenges they are facing in their businesses. We also asked each company to share business advice they would give to a younger version of themselves.
Below is our interview with Liora Dudar, Co-Founder at oVertone Haircare:
What does your company do?
Our company, oVertone, manufactures and sells pigmented conditioners that are used as a low-maintenance, hair-healthy solution for keeping vivid color bright, or adding color to bleached and naturally light strands. We offer an affordable, accessible product that empowers people to easily handle and maintain their own hair color, without the use of heavy alcohols or damaging chemicals. We are headquartered in Denver, Colorado, with client services and production operations based in our Tuscon, Arizona office. We have been in business for 4 years.
What is your role? What do you enjoy most about your role?
I co-founded oVertone with Maegan Scarlett, my business partner. While we share a lot of our job duties and pass them back and forth fairly flexibly, my role leans heavily toward building internal structure and cultural development. Fostering an inclusive culture that celebrates professional and personal growth, and watching people devour challenges and develop in their roles is incredibly rewarding. I'm not a manager by nature and actually find that position very difficult, but hearing from employees that they're happy and satisfied - or that coming to work is a safe space for them - is just so fulfilling. We strive to reflect that culture in the content we create or share with our audience, especially on Instagram. Our refusal to skin smooth, "photoshop", or cater to conventional beauty standards has impacted the way people express themselves, sometimes in a way they couldn't before. I'm extremely proud of that.
What are the biggest challenges in your business right now?
As a young company, we are very focused on growing our production and marketing teams. It's important to us that we make strategic hires, ensuring we have the right people with the right expertise in the right places. While experience and skill set is important, we're also looking for people who are a good fit with our culture and company values. This is essential to keeping our team super strong and motivated, and it's not something we're willing to compromise on. Finding people who check boxes in both the values and talent department is without a doubt one of the largest challenges we face as business owners.
If you could go back in time, what business advice would you give to a younger version of yourself?
Just do it. Don't worry about how to build a company, just start solving problems. Maegan and I started oVertone in her kitchen, and we launched in just four weeks. Don't sit there and say, "I don't know how to start a company." Just call people, get laughed at - then keep calling people until you get things done. Legitimacy is an illusion, and only comes as things grow out of necessity. Don't worry about "being someone" to be able to call or set a meeting with a manufacturer or a vendor. Remember that you are the expert in your business, and you are the authority on what you want to accomplish. Have confidence in that.