Thriving in today’s economy takes constant change and transformation and a willingness to do so constantly. Yes, the way you used to do business may not be the way you need to do it today. Now more than ever salon and spa owners must take the time to recalibrate their deficient business models and do so on a more frequent basis.
What does it take to change and transform in a disruptive economy? Below are some simple ways to the identifying gaps and opportunities within your business.
1. Acknowledge that there is a problem:
There are still some salon and spa businesses holding out for the economy to ‘right’ itself and return to "normal." Unfortunately that is naïve thinking, it’s not going to happen. Constant change is the new normal and a necessity of survival. Success now requires not just doing it better, but mastering the ability to do it differently and quickly. If you are watching your numbers and they are at or below last year then you must recognize that there is a problem. Don’t be fooled and think that you are safe or that it could be worse and thereby breathe a sigh of relief. You need to consider what will have you growing over the next 6 – 12 months and act!
2. Think outside of the box:
Have you considered what would radically change your current salon and spa business model and thereby ensure future success? Many salon and spas pay lip service to being customer-focused, but when it really matters; they simply fall back on the tried and true and continue to look just like every other business in the area. Transformation requires a relentless out of the box thinking. Take the time to identify growth opportunities, assess your capabilities, invest in the future and seize the opportunity.
3. Allocate adequate time and resources to change and transformation?
Every salon and spa is unique and every change is going to require resources to accomplish the proposed change. Resources are not only monetary but time, talent and tenure. Engaging your entire team in the process of innovation will allow you to see opportunities that may have been hidden by your perceptions. Remember, everyone is feeling the effects of the recession and thereby everyone needs to be a part of the solution.
These tips just touch the surface of what it takes to become a transformative business. For more support feel free to contact a Milady coach at 1-800-998-2700 ext 2700.
2 comments:
I so agree, acknowledge that there is a problem. I try to believe the economy failing was a blessing and not to dwell on the negative. I believe salons do need to change to outside the box thinking to survive in today's economy. Because well, the "old" economy isn't coming back.
I choose the word blessing because it has helped me take a look at several factors, including the bottom line numbers. Before I would not think twice about spending instead of saving, now as a salon owner I look at every expense as a way to tighten up. And that in turn helps my salon grow, and turn a profit in today's economy. I hope more salons continue to read your words, they are extremely wise! Thank you for all the great blogs! I love them on twitter!
Thank you for the feedback. I like your take on the economic downturn being a blessing. Although others may disagree on your theory, I believe we all can agree that unless you are up to the challenge of doing business differently you will most likely find yourself struggling. I'm glad to hear that you are managing your finances and thinking twice before opening your wallet. Bravo!
It is the old sayin, "when you've got lemons, make lemonade!"
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