could be calcium deposit..cyst etc
Watch closely. It could get infected. If you notice it getting redder, painful or swelling go to the doctor and get it taken care of.
" I have been down that road before."!
I had the same problem as you describe, and I infected a hair follicle that had to be lanced. Since then, I shave with the grain and then return to shave against the grain for a close shave. The bump may dry-up if you use some iso-Propyl alcohol on a Q-Tip...It works for me.
mcdee708