Monday Motivator: Growing Your Business
Whether you are a salon owner or a hairstylist, growth means progress. Here are some tips from Chris Parker of ESP Online, on how to get started on a positive path of achievable growth.
If you want to determine if your business is growing or not you need to start by tracking performance and doing this consistently over time. The first thing you need is a good analysis of your business at the present time so that you can set targets and monitor if you are achieving them. Just as it would be with your bank balance, if you want to know if it has grown you need to know what it was previously so that you can compare.
Keep it very simple to start, don’t get too complicated else you won’t sustain it. Just like your new years resolution to get to gym fourteen times a week ends up with you going twice in the first week and then once every six months thereafter so it is with your business. Get the bare minimum into place, and then anything above this is bonus. Just keep it consistent though!
Start setting targets for yourself. Therefore if you currently have a client database of 5000 then aim to have a client database of 6000 within 6 months.
If your turnover is currently R300 000 per month, aim to have it at R315000 in 12 months.
If your client average spend is R400 per docket then aim to have it at R425 in 12 months.
Once you have set yourself realistic goals you need to start the process of achieving them. To stick with the gym analogy this may mean that you need a personal trainer. Whether it be one of your peers, someone who is successfully implementing growth in their salons (or other type of business) or an outside consultant who is able to hold you accountable and keep you focused on your goals.