Most new salon and spa owners struggle with understanding financial numbers and managing team members. Often owners were once successful as a service provider and their success transformed into a dream of owning their salon/spa. This dream can be a compliment to the previous owners who employed them or a criticism that they, the successful service provider, thought they could do it better.
Being a successful salon/spa owner requires a different set of skills. It’s a base of knowledge that successful service providers often overlook and don’t understand. They may not have to know how to exactly do everything hands-on but they must have the sense of knowing that they need something and who they can entrust to accomplish that ‘thing’. This knowledge and delegation is a key trait of successful owners of any business and can be referred to as business acumen.
Key components of salon/spa business acumen are leadership, financial understanding, business building, marketing and team foundational concepts. Being a successful service provider most likely did not prepare you to be a successful leader. Key thoughts you may be having and key questions you are probably asking yourself now may include:
- How do I transition from being a team member to a team leader?
- Collecting a paycheck was easy, but what items are important me in a financial statement and where should those numbers be as a percentage of my overall business?
- Building a book of business was easy, but how do I now motivate my team members to be part of a team effort for salon/spa success, not just an employee who shows up for work.
- What is the best way to market my business for the most return on my investment?
- How do I build and communicate my brand to my clientele and community?
- How do I communicate with my team members and motivate them?
- How do I instill a culture of unity and success?
Knowing how to grow your money, how to spend your money and how to attract and retain service providers are all key components of building a successful salon/spa business.
Let Salon Spa Business Coaching show you how to understand your current state of business, identify priorities and implement a roadmap for long-term success. Ask about our complimentary two-hour team-building session, a $325 value, to begin to transform your business today!
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