The magic of lipstick and economics
Many years ago after a compound fracture of my ankle and emergency surgery I remember awaking in my hospital room and searching for my lipstick. It was a kind nurse named Joanne who found my lipstick for me. I put it on and immediately felt better. My spirits lifted. My mood was elevated. I felt prettier, more like myself, and I knew that I would be able to take on whatever the day had in store for me. My immediate future was going to change as I wrestled with how I would accommodate the injury and deal with the recovery that was before me. But for the moment I felt better because I had my lipstick. My lipstick was like magic; it was a source of comfort, consistency, and predictability that I needed in that moment. Nurse Joanne understood that.
Understanding the magic of lipstick and economics can help to sustain your business and manage stress.
Lipstick as a product never has a bad year because in good times and bad times, women want their lipstick. Maybe for the reasons I have personally experienced. No matter what kind of day I have a little lipstick seems to go a long way in elevating my attitude.
The magic of lipstick has lots of application to business. First of all it is a product that women will buy and is almost economically indestructible or non-cyclical as the economists might say. Alan Greenspan and Estee Lauder say that during recession lipstick sales actually go up because women will buy it before a new outfit.
Examine your business for a product or service that you offer that might be sustainable in bad and good economic times. Is there something that you offer that makes people just plain feel good? Is there something that your business provides that will increase in demand during challenging economic times? If you can identify a product or service in your business that has these attributes – great! Make a plan to sell more of it. If you don’t have a product or service that meets this metric then use this idea as an opportunity to develop one.
On the flip side as a business owner or executive you have stress that simply comes with the territory. The magic of lipstick provides a stress reliever and source of consistency and reassurance. If you are in the midst of challenging circumstances, a changing and unpredictable work environment, is there something equivalent and accessible to you in your work environment that can give you a quick lift when you need it? Maybe it’s a special cup of coffee, writing with a customized pen, or a quick phone call or text with a best friend or spouse.
Identify a magic lipstick-like product or service to add revenue to your business, or act as a stress reliever to you when you need it most. You decide.
