TSE 1029: Sales From The Street: "Be Bold, Take Action"

As entrepreneurs, many of us run into difficulty, especially when we are just starting out. The key is tobe bold and take action. Dr. Tye Caldwell is the CEO, co-founder, and visionary behind the success of ShearShare. Realizing what the future could hold for both the beauty and barber industries, he created a platform for licensed professionals to move from working in their homes to working in salons, barber shops, and spas. This created not only opportunities to work in places where they could be classically trained, but created an opportunity for increased income as well. Dr. Caldwell has been in the industry for 25 years. He’s an instructor with a doctorate degree in professional barbering and cosmetology and co-owner of an award-winning salon. Dr. Caldwell is also the author of Mentored by Failure, a best-selling book about how to be successful in the industry. CHANGING DYNAMICS When he approached his wife, Courtney, with the idea for ShearShare, she admits to being hesitant. He reminded her how they used to have stylists on a waitlist who wanted to work at their salon, but that it was no longer the case. Instead, he had stylists who just wanted to rent a space for one or two days a week. Courtney liked the old-school way when stylists signed a long-term contract and became part of the team and the culture. But her husband was persistent. He knew he’d rather collect some money on the empty chairs than none at all. It was a success. Everyone loved the experience and flexibility. So much so, that they began to call other salons to find spaces for stylists who were traveling. Word got out quickly. More and more stylists called looking for spaces where they could work by the day. Fast forward three years and the Caldwells knew they were on to something. The beauty industry, as a whole, has been archaic for years, according to Dr. Caldwell. With only four ways to actually work – by commission, by renting a booth, in a salon, or as an employee, stylists were unable to work where and when they needed. ACCESS OVER OWNERSHIP The Caldwells wanted to change that and they knew technology was the key. These days, because of advancements in technology, people can press a button to get a ride, to have food delivered, or to rent a room in someone’s home instead of a hotel. The beauty industry needed to be more on-demand as well. Because they both serve on advisory boards for beauty schools and barber colleges, the Caldwells knew it was something the next generation wanted. ShearShare is the first mobile app that allows a stylist to rent a salon or barber shop space by the day. Taking three years to fully develop and implement the idea allowed them to realize the different ways it would, and would not, work. The industry is fragmented in some areas which made it difficult. Barbers differ from salon stylists who differ from cosmetologists, for example. The Caldwells had to consider the viewpoints of the various professionals and they had to consider both sides of every issue from an owner, and user, viewpoint. TAKING SHAPE Once they listened to what the stylists and clients really wanted, the app began to take shape. Users, for example, want to know that the stylist is licensed and how long the stylist has been in the industry. Users also want to see pictures of the salon, read reviews, and see map locations. The Caldwells had no idea, however, about how to start a business or find investors.  They only knew that the app they wanted to create hadn’t been created yet, so they drained their savings account and hired someone to build it. Looking back now, Courtney is glad they spent three years as a concierge service. It allowed them time to learn the questions that stylists always asked as well as the expectations of...