Do you wish you could be seen, be heard and be hired? Or if you are a salon owner, would you like to know how to 2 x your salon business?
Be seen, be heard and be hired is kind of my new motto, along with excellence is no accident, because success does take action, I don’t believe anyone just lands their dream job or opens a salon that takes off without any hard work.
Which leads me to the topic of how to 2 x your salon business.
The whole concept of how to double your business was very popular last time I spoke about it, so with a month already gone for 2015, I thought this was a great way to kick off the year and discuss what it means to 2x your business.
Before you even think about doubling your business, you must think about a few key things.
- Is it realistic to expect you can do this, all things being equal.
- Are you limited by time, resources, location, seasonal fluctuations, anything that can hinder your growth.
- Is it possible to change direction from where you have come from? Too often, salon owners keep doing what they have always done and wonder why they are not reaching their goals. Maybe it’s time for a change?
- Is it possible to add additional revenue streams? What else can you do that compliments your business that can add revenue to your bottom line without too much effort or investment?
Have I got your mind thinking?
I hope so because now I want to introduce the 5% rule. Yes, only 5%.
A recent exercise I was introduced to demonstrate that by increasing elements of a business by 5% and decreasing others by 5% can in fact result in a 200% increase. That’s 2 x-ing your business without too much effort.
So, what are the things you need to increase and what do you need to decrease?
Quite simply, you increase your clients by 5%, increase your services and retail sales by 5%, increase your price by 5%, and then decrease your cost of goods sold (these are the costs associated with operating your business, such as stock purchases and freight) by 5% and decrease your operating expenses by 5%.
Applying a 5% shift up or down can have huge positive changes to your bottom line, and it’s not that hard either.
Wouldn’t you like to 2x your salon business?
What you need to do is take a close look at all areas of your business to determine where these changes can be applied without impacting your image, reputation, staff, suppliers or clients. It’s what I do when I conduct a salon audit with you.
Is it confronting? Yes, but the real excitement comes when you realize what you cannot only save but what you can be generating.
I can tell you other salon owners who have undergone this exercise with me already this year are kicking goals big time and finally experiencing clarity on why their business exists and where they are going with it.
Want to know more?
Click here to apply for a confidential 20-minute chat, where I’ll determine if we are a good fit for working together. Be warned, you have to be prepared to work! I’ll help and guide you, but I can’t do it for you, that’s your job and where you get to enjoy your efforts.
Can’t wait to speak to you… click here now!
Wishing you salon brilliance and success.
Julie Hyne
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