Lets Set Some Goals Together!
we talked last week about costs of colour…
if you missed it, just go to blogs on our website and you can find it..
this week we are going to face the elephant in the room,
and how do you eat an elephant? teaspoon by teaspoon.
so many small business owners don’t know what it costs to run their business.
it’s a wing and a prayer…
by not knowing, or not knowing how, or keeping your head in the sand, how are you going to know what you need to make to make a profit.
how can you set achievable goals if you don’t know your outgoings?
how do you know how many service/sales you need to make a week to achieve that profit!
the bottom line is you don’t.
So how do you work it out?
all businesses have fixed costs, and variable costs.
fixed costs are rent, insurances, wages, super, tax, any cost that isn’t going to change in the financial year.
we can’t do much to change some of them, but others we can.
variable costs are electricity, water, wages, advertising, super, stock, to name a few.
they are variable because they can go up or down, sometimes for a positive, sometimes for a negative.
they are also the expenses that generate your turnover.
staff, products and advertising are all investments that make your business a success, they are the expenses we shouldn’t cut, they are the expenses we should focus on growing, as growth means we are doing well.
unless- we don’t know these expenses in the first place…
you can’t streamline your business expenses if you don’t know what they are.
and it’s hard to improve your business if you don’t know what they are, as this is the foundation of your very business.
If you still don’t know how much it costs to open your doors on a daily basis, make this the year to know.
make it the year to implement a plan to succeed.
focus on knowing your numbers, and seeking to grow your business, based on that dream you had when you opened your salon
make retail a part of your space again if you’ve been fighting online, make a positive stance and educate your clients about supporting your business, give your team incentives to inspire them to be part of the growth that you want to achieve this year,
and take a look at team members who aren’t really being team members, the ones that are happy to take home a wage without being inspired by their role in your business anymore, the ones that really shouldn’t be there…
they are a bad investment moving forward.
do you analysis you client lists?
what’s your service to return ratio?
pretty good?
do you know that for a fact?
do you market promotions reminding clients you haven’t seen in a while to come back and visit?
do you follow up with new clients and existing to see how their visit was in your space?
does your team have a weekly goal of services? or treatments that they can add on to their services? or is it same old same old?
is this the year to shake your business up?
we think so…
business is evolution, if we all keep doing what we always did, we get left behind,
to succeed in business is to keep evolving…
so your homework this week, if you are following us..
is to buy yourself a notebook, one that’s dedicated to your business, your thoughts your dreams.
and write a goal in it, and a vision of you when you opened your business…
and next week we shall crunch some numbers in that notebook of yours…
until then,
take time to reflect, on the journey you have been on, what you would like yo change, what you see for the future, and how you might achieve it,
and don’t forget to write all those things down in your new salon diary….
if you are reading this, and you are going to come on this journey, comment notebook on our facebook post about this blog.
there’s no charge for this inspiration, it helps inspire us too, so let’s do it together this year and create a network of business owners who want to take back their dream and own it!