July 2020

LOOK FOR EVERY OPPORTUNITY TO BUILD UP CASH FLOW

My advice to all my clients over the last few months (especially with the support of job keeper and support grants) is to build your cash flow to be as strong as it can be. The interesting trend for all salons, and I do mean all, is that over the last 2 months the salons I work with have traded well and well managed expenses are down so profit and cash flow are looking good. Debts have been cleared, a greater focus on productivity is being achieved and salons are in a good position moving forward. I am still mindful of the uncertainty for salons from October until the end of 2020 and into 2021. So, my focus on building cash flow for the future will remain. I am not saying don’t spend on necessary items and stock in your salon but build a secure cash flow first.

NEED HELP MOTIVATING YOUR TEAM

Do you have a great team who pull together and work well? Can you feel great energy being shared? Is it a place of work that you look forward to spending time in? Do you truly have a motivated team? Your team may have all the knowledge, skills and expertise to make your salon be number one but if they are not motivated, it is unlikely that they or you will achieve the reputation of being “the best”.

There are 3 key areas to check: –

Achievement

Do you have in place ways for all your team to achieve and to be challenged in a positive way? Everyone is different so you must manage each individual in such a way to push their button.

Team Spirit

To some this is the most important reason for going to work every day and if there is not a great team spirit and a great atmosphere they will never feel good about what they do and as a result won’t be motivated to look after your clients in that special way you expect.

Power People

Do you recognise if you have power people? You need to provide different things to motivate them. They enjoy competition, responsibility, status and recognition. Do you have them in the same box as everyone else or are you managing them in a way that will excite them and allow them to stretch. This category of people will often be more challenging to manage but will almost always have the ability to be your strongest and best performers.

‘DON’T LET TODAY’S GOAL GET IN THE WAY OF YOUR FUTURE GOALS

Most of us want to keep moving forward at work and in life. When you ask yourself, “Who do I want to be?” and “Where do I want to go?” chances are that the answers involve growth and change in some direction. But although you can’t spend all your time pursuing those objectives, you definitely won’t achieve your goals if you don’t spend any time thinking about them.

Whatever you want for your future, you have to spend time planning and building the skills and experience you’ll need to achieve your goals. A great question to ask yourself. What are you doing grow as a person and as a business owner to influence your future?

FACEBOOK STILL HAS A PLACE WITH MARKETING

Are you working yours?  How many new friends have joined yours in the last few weeks?  Are you good at putting up new interesting information?

Some ideas that you could consider: –

  • Interesting things that are happening in your salon.
  • Before and afters of clients
  • New products
  • New services
  • Training your team has attended
  • Coming events
  • Current promotions
  • Photos of interest. I remember when!
  • Short information videos (a big one)
  • Winter tips
  • Winter blondes

RETENTION

What do you have in place this month to focus on retaining your clients? A simple idea is to think of ways to say thank you.

  • Thank you for coming to our salon
  • Thank you for recommending your friend
  • Thank you for being patient as I needed to keep you waiting
  • Thank you for being such a loyal client
  • Thank you for the feedback
  • Thank you for your testimonial

There are so many reasons to thank your clients and to make them feel special. It might be just simply by saying “thank you” or you may have other ways of doing it. As long as you remember how important it is. The single biggest reason a client will leave you is when you fail to make them feel special.

END OF FINANCIAL YEAR

It is that time again, a good time to plan and to look back.

Some good questions: –

Are you satisfied with your profit?

Did your salon grow as you had expected?

What changes do you need to make?

If you are not happy with your answers and would like some help, you can arrange a one-hour coaching session with me to help you start the new financial year on track.

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