A New Beginning for the Entrepreneur Salon Owner
New Year’s Roadmap for 2020
I do hope that all of you enjoyed a Very Merry Xmas and Happy New Year.
Now that the holidays are behind us, let us plan and prepare for a new and successful year for your salon and team.
2020 can be a great year, the economy is expected to continue to grow, just look at the growth of the stock market. Are you ready to take advantage of your opportunities?
Despite this potentially great opportunity, we will still face many challenges for both hairdressers and salon owners, due to a competitive and changing business climate.
There will be a lot of doom and gloom, especially during the first 3 months of the year when business is slow. Taxes, new minimum wages etc.
Despite the doom and gloom, I feel 2020 can be a great year for those of you who are well informed and determined to take your team and your salon to a higher level. Adversity always presents fantastic money making opportunities for true entrepreneurs.
Your attitude towards adversity will determine your own success or failure. When the going gets tough, the tough get going.
Sadly you will win because the majority of salon owners will not take the time to learn the business management aspect of salon ownership, many more will always be looking for excuses to fail because it requires effort, hard work, and new thinking. You will probably win by default.
Here are some Business Tips:
Review Your Profit and Loss Statement — Review your past year. Did you really make a profit this past year? The easiest way to improve profits is to cut overhead expenses. Numbers don’t lie. Your profit and loss statement is your score card.
Planning and Setting New Goals for 2020 — Separate your goals into business goals, personal goals, and financial goals. Develop a plan of action on how to make your 2020 goals a reality.
Too Much Down Time — If your salon and staff are experiencing too much down time; use this time for education, designing your marketing strategy, improving your business skills, a one on one staff evaluation meeting.
Review Staff Performance — Did your staff perform and exceed your expectations? Did you measure the performance of your staff by the number of return customers and referrals? Find ways to improve staff performance and productivity.
Measure Your Strengths and Weaknesses — My salons owner’s quiz. Click here.
Sometimes as salon owners we have to look in the mirror
Time Management — The easiest way to find more time is to organize your business so you can manage your business instead of your business managing you.
Plan Your Marketing Strategy for 2020 — How will you attract more customers cost effectively? Review my book on Growing Your Business.
Staff Challenges? — Is your team performing up to your expectations? If not identify and confront the problem or person before the situation gets out of control. Review your hiring practices and your educational training programs.
Staff Recruitment — Develop a comprehensive staff development program so you have more choices when adding a new member to your team. My book Creating Your Salon offers a staff development model for you.
Training and Education — Invest in your salon’s greatest profit potential — invest in educating your team. Education is a great deterrent to customer loss and improved profitability.
More Customers — How and by what means will you attract customers to your salon cost effectively. Learn the power of social media
Despite these challenges I see great windows of great opportunities. I urge you to take advantage of my two day business seminar which will be held in Monday August 24 – Tuesday August 25, 2020. Click here
Please visit my new educational web site and review my educational resources my background and experience on my home page.
Hope to see you in Las Vegas August 24-25 2020.