The Surprising Truth Every Entrepreneur Needs to Know Before Launching a Business

A well-thought-out business strategy may seem essential for success—but in many cases, entrepreneurs may as well rip it up, because the future has a mind of its own. That’s at least, what Rachel Liverman, CEO and co-founder of the $13 million facial chain Glowbar, experienced.

“You can have a plan, but the universe laughs,” Liverman tells Fortune, adding that it’s the one warning seasoned founders don’t tell you.

Glowbar may be one of the most popular facial chains in America, with 18 locations across the East Coast, and five new stores set to open this year. Between 2023 and 2024, membership grew 100%, and Glowbar’s studio footprint doubled. Over the last six years, the facial chain has delivered over half a million facials and is one of the fastest-growing facial studios in the U.S. In 2023, Glowbar received $10 million in Series A funding, alongside $3 million raised earlier in family and friends investments.

But the road to success is often a bumpy one—and entrepreneurs are better off buckling up. Liverman started the business in 2019, and soon after fundraising and tricking out a Glowbar location in Tribeca, the COVID-19 pandemic hit.

“The pandemic was wild… I had the business plan, I had all the docs, I got all my investors. I had this whole plan, and then: Coronavirus,” Liverman says. “It was my first beautiful test of entrepreneurship.”

Due to New York’s pandemic mandates, Liverman had to shut Glowbar’s doors for over six months, furloughing staffers at the store until the state’s rules allowed for operations to continue. She even had to start a GoFundMe to ensure all her employees were taken care of.

However, Liverman found a way to turn sour lemons into lemonade—and came out of the pandemic even stronger.

Finding business success when the universe laughs

Many people were safeguarding their wealth during the uncertainty of the pandemic, leading to a $2.1 trillion swell in savings from March 2020 to August 2021. Instead, Liverman saw it as an opportunity to splurge. With only one store finished—the Tribeca location, which had subsequently closed—and another still in development, she saw a chance to expand prematurely.

“It was certainly a test, and I was very lucky I was small enough to weather that storm,” Liverman says, adding that she soon took notice that landlords were slashing rent prices as they struggled to fill empty storefronts during the pandemic.

“So I optimized for that time in real estate and signed probably four or five leases during 2020 and 2021—and got amazing deals. It’s one of the reasons why we have a location on Fifth Avenue and 16th Street, because it was the COVID deals.”

Liverman’s bold decision to expand during uncertain times paid off: the Fifth Avenue location now serves as Glowbar’s headquarters. “Today, I wouldn’t be able to afford that,” she adds.

When the chips are down or business isn’t taking off, Liverman has one recommendation for entrepreneurs: lean on others. They may even have the answer to your problem. But at the very least, they will provide support.

“It’s a simple thing, and as an entrepreneur, when you grasp it, it will unlock so much: asking for help,” Liverman says. “Not feeling like you need to pretend to know it all or have it all figured out. Just really vulnerable… If the founder, entrepreneur, or CEO knew everything, they wouldn’t have needed to hire a team.”