” Money is better then poverty,if only for financial reasons.” – Woody Allen
It is a proven fact that the income and standard of living of hairdresser’s is not keeping pace with other professions. Most hairdresser’s have no pensions, medical insurance, paid vacations and other perks compared to other professions. Far too many of our colleagues work pay check to pay check and just get by.
As I view many of the chat rooms, there is hardly a mention about achieving financial independence and financial planning. Most of the conversations are about products and irrelevant topics that will not help you when it comes to earning a good living especially in today’s difficult economic economy. It is said that most hairdresser’s have an artistic mind set and little regard to the business and money making aspect of their development.
I want to make it perfectly clear that I do not measure wealth by money alone. I measure wealth by family, good health and many other factors. But we also deserve to raise our standard of living and reward our self for our hard work and sacrifices.
Sadly when hairdresser’s and salon owners visit trade shows, the emphasis is always about glitter, hype, product sales, and avant garde hairstyles the average consumer will never wear.
As a profession we have totally ignored the average consumer who not only wants to look good but also wants an easy to manage hairstyle between salon visits. Far too many hairdresser’s, salon owners, nail techs, attend hair shows just to party, buy supplies ( you probably can buy these supplies cheaper at Wal Mart) and have a good time.
Sadly many will not take the time to attend the many educational and business classes of guest speakers that offer their vast experience and knowledge.
Of course we need to keep up with the latest trends and keep developing our artistic skills, but we also owe it to ourselves and our families to work hard and strive for a higher standard of living.
It is my wish that these tips about making money will draw your attention on planning for your financial security. It is not how much you earn; it is what you do with your money that will determine your financial security.
Although our educational system is product biased, we as professionals have the ability to control our own destiny. The beauty profession can be a short cut to financial security.
This is one of the few professions where you literally can get all the overtime you want once you create value in your skills, and create a demand for your services. The sky’s the limit.
Please follow these tips with an open mind:
Create a Demand – work hard to build an upscale clientele and ask for references. Be the best. Maximize your full learning and earning potential. The road to self-improvement is exciting, and can be financially rewarding once you gain experience and create a demand for your services.
Invest in Yourself — develop additional skills that will set you apart from the competition by excelling at customer service. Develop your people and communication skills by taking classes in developing your public speaking skills. Toastmaster’s International .org will be a good start.
Keep Learning— the door to education is never closed. The more you learn, the more you earn. As you learn more, opportunities will appear that you never dreamed possible. Always seek out self improvement and continually challenge yourself every day by setting high standards for yourself
Save Your Money — get in the habit of saving your money where it will draw interest. You work hard for your money; make sure your money works hard for you. Learn about money management. You can start out with saving a little from your tips as a starter. Learn to save,save,save and carefully monitor your spending.
Money Management and Financial Planning — take classes or read books on money management and financial planning. Suze Orman is an excellent mentor on financial planning and money management. I urge all of you to set up your own Simplified IRA account or Roth IRA.
Stay out of Debt — especially credit card debt. Be careful how you spend your money. Was that alcoholic drink really worth $7.00? Or could I have saved it for something more worth valuable like buying an educational book. Get rid of all your credit cards and just keep one or two.
Cultivate Your Mind — learn to work smarter, not harder. Read books about entrepreneurship and self improvement, knowledge is power.
Toot Your Horn — develop a marketing mind set. Learn how to promote and market your skills to the consumer.
Take advantage of all the marketing possibilities social media offers.
Film your own commercial on you tube showcasing your talent or introducing yourself to the local community. Make sure you have a link to your face book business fan page.
It is my hope that these few tips will get you started about not only making money and raising your standard of living, but also get started planning for your own financial security. Let us all work together to upgrade our image and income earning potential.
I urge you to attend my Hairdresser’s Guide to Making Money seminar on Tuesday evening September 27 at the Palm Springs Hilton Hotel in Palm Springs California. For more information and a flyer call 1-800-390-4237