Making money is often discussed and viewed in a negative light. We’re often afraid and don’t want to be labeled as greedy or money hungry by talking about money. But making money must be at the forefront of any successful salon business and is crucial to creating the freedom you truly want in life. In fact, it’s a challenge being passionate about making other people look and feel great when you’re feeling a little hopeless or stressed about paying your next bill.
Trust me, I know what it’s like to have nothing and what it’s like to thrive and create some great income as well. I think we would both agree, having money is a lot more enjoyable and fulfilling, and most importantly it gives you options. Here are 8 ways to dramatically improve your salon business and create the freedom you deserve.
Take Full Responsibility. The very first change that must occur to be more successful in your salon business is a mental change. Before you can realize different results in your business, there must be a change in your inputs, i.e. how you think and envision everything around your business. You must take full responsibility for everything that happens, both good and bad. We can’t wait for someone else to swoop in and save us. Waiting and looking to others to do for us only creates a state of helplessness and an inability to create change for ourselves.
Don’t blame the economy, your past, your clients, and don’t think the world is out to get you. A great quote says, “the moment you take responsibility for everything in your life, is the moment you can change anything in your life.” Change begins by accepting your responsibility to create the difference you want to see. Go and make it happen.
Narrow Your Focus. Stop doing what you’re doing. We all know the saying “insanity is doing the same thing over and over and expecting a difference result.” If you aren’t satisfied, the first thing you must do is stop doing what you’ve been doing because your current actions are creating an unwanted reality. Get rid of products that aren’t selling. If you are offering services that you don’t enjoy doing or are not profitable for you, cut them from your service menu. Any activities, services, people or products that are not having the financial impact you what in your salon business, must be eliminated. Narrowing your focus will allow you to concentrate your time, efforts, energy and resources on those things that produce the greatest return for you and your business.
Start placing a higher value on your time. When given a choice, especially when funds are somewhat limited, we are tempted to do everything ourselves. But as you begin to earn more you must begin to move towards making wiser money and time investments. Time is more valuable than money. You can always get more money. You can never get more time. Focus on deliver superior value so you can become twice as valuable, and make twice as much money in the same amount of time. There is nothing more valuable than time invested wisely. We all have the same 24 hours in a day. It’s what you do with them that determines everything.
Make a list and prioritize your profits. Adopt the habit of writing down what you want accomplish for the next day, week, month and year, then prioritize the list. When you set up your weekly schedule make sure you start with income producing activities. Of all your activities, 20 percent will account for 80 percent of your income. Figure out what those are. Really think about the top two or three things you need to do daily and weekly to create income. Now put those in your schedule consistently to assure you are creating income. Constantly ask yourself if what you’re doing is profitable. Focus on doing what you should versus what you feel. This way, you'll effectively allocate the time necessary to each task in accordance with its importance. Remember that a list is a contract. You are agreeing to make these things happen the moment you write things down. Action items in written form are closer to being accomplished than are the things you merely think about.
Increase sales to existing customers. Current customers are a cheaper and more effective way to increase sales than trying to find new ones. “Upservicing” is the simplest and fastest way to increase your income. The idea behind “up-servicing” is to provide a greater salon experience by taking care of more of your clients’ needs not what you want to sell. Making service and product recommendations is your duty and should never looked at as “pushing” things on people. Upservicing is all about what they need vs what you want for them. Explore ways to have customers to become repeat clients, find customers who’ve stopped buying from you and trying to win them back. Fully utilize Vargaro, Square or whatever POS system you’re using to keep a record of who your customers are and what you sold to them. Create product and or service bundles to increase sales.
Review your prices. Regularly reviewing your prices can be an effective way of increasing your sales, profits or both. Has the cost of operating your salon business increased since you had your last price adjustment? Are you keeping up with inflation and cost of living with your pricing? Now is a great time to do a price review in preparation for next year. Consider implementing referral and loyalty programs to jumpstart sagging sales. Estimate the likely effect of different price changes on the sales, cash flow and profitability of your business. Be prepared for a few clients to leave by having a client attraction and retention program at the ready. Small changes to pricing and adding loyalty promotions or bulk discounts can increase sales to both existing and former customers.
Get a coach. Working with someone who has a different business perspective can make all the difference in dramatically improving your salon business. A business coach can help you identify key areas of weakness and opportunities to build and grow your business in a way that fits your personality and overall business vision. Really good coaches have either been in and/or have coached many other people through similar experiences successfully. Working someone who has a vested interest in your success can be just what you need for a fresh perspective and accountability.
Attract new customers. One way of attracting new customers to your salon services and products is by Powerbase marketing. What is Powerbase marketing? Powerbase marketing is connecting, reconnecting and leveraging the relationships you already have to attract more customers to your business. Believe it or not, there are probably more than a few people you know, contacts in your cellphone or on your email list who don’t know what you do or how well you do it. If you’re not top of mind when it’s time for them to make a buying decision, they can’t buy from you. It’s your responsibility is to create awareness of what you do and share the benefits your guests receive when they do business with you. The great thing about Powerbase marketing is they already know you, so you’re already in the second step of the “know, like, trust” phase. Create the habit of reaching to at least 2 or 3 people a day and work on creating value from them and improving their lives one person at a time. Check out a great book called Go-Giver by Bob Burg & John David Mann.
What’s great about life is the opportunity you have to completely change your story and direction overnight. The difference between those who are successful and those who are not is fast implementation, that is, how quick will you get on your grind to start dramatically improving your business? Regardless of your past decisions or where you are in life, you’re always one decision away from making the right one. Take care and be great!
P.S. If you want to dramatically improve your salon business, attract more clients, make more money and have more freedom in your life but don’t how or where to start, click this link and discover how to GET RESULTS IN HOUR!