It can be so disheartening when your business is floundering. Where do you even start when it comes to turning things around and getting back on track to success? What will make the biggest difference in the shortest amount of time?
Unfortunately what helps one salon might be completely different to what saves your salon, however there are plenty of smaller solutions that everyone can implement to help improve overall business success. Often a synergy of smaller solutions must work together to save a struggling business.
Unless you are an absolute master of business, it’s likely that many areas of your salon could be tweaked slightly to provide better financial results. This includes things like:
- Gaining more prospects
- Converting these prospects into clients
- Increasing the number of existing clients you retain
- Increasing profit margins
- Increasing the number of services you provide to each client
- Reducing your expenses
- Improving the quality of your services
- Improving your customer service
- Improving the quality of your therapists
- Retaining great team members
This is just a small selection of things most salons can improve on. While it might make you feel overwhelmed at a glance it’s important to look at this not as a list of things you don’t do well, but as a list of exciting opportunities and possibilities.
Each item on this list, when tweaked just a little, can significantly impact your business results. The more items on the list that you improve upon each day, week and month, the greater the results will be. For example, if you can gain 10 additional clients each month, you would do a happy dance. But imagine if you could gain 10 new clients, while also retaining five existing clients – this automatically makes you 15 clients better off than the previous year.
Next, if you can increase the profit margin just a little for all your services, this will add up to even more revenue. Plus you now have 15 extra clients to make profit from! Add to this just a few extra services sold to these 15 clients and your revenue will continue to shoot through the roof.
The combination of all of these small improvements across the business will make a substantial difference to your revenue and profits. This is why you can never become complacent doing just one thing, or the same thing, when it comes to improving your business. Don’t get stuck in the rut of wanting more new clients – while they are necessary for every business, they’re just a small part of your overall growth and success. If you’re ever stuck with what to do next, look over the list from earlier to see where you can kick-start growth in your business.
A good salon owner is always on the look out for ways to improve on their numbers. Small improvements across many areas of the business can have the overall big impact you need and want.
In saying this, it’s equally important to keep an eye on the business as a whole. Don’t become too focused on one area over another and don’t make the common mistake of zeroing in and trying to achieve a massive improvement in just one part of the business. This is not the solution to your problem and is likely to have little impact on your overall success.
Focus on tweaking small things and slowly improving all areas of the business together. Then, sit back and enjoy the truly amazing results!
If you need help tweaking things in your salon to see big results, get in touch with Beauty Salons Coach today!