Tuesday, June 15, 2010

Salon and Spa Owners you’ve got to EARN your ‘bragging’ rights!

In all the 20+ years that I’ve been managing, coaching and training I’ve met thousands of professionals and owners. Some were extremely successful, humble, lifelong learners and some not so successful individuals. The difference between these two professionals is that one developed deep experience through trial and error, success and celebration, and the other simply repeated their 1st year over and over again, 25 times.

So, you may ask, “What makes a successful salon and spa owner/professional in our industry?” “When do I get the right to toot my own horn?”

I’m sure that if you asked ten people you would get ten varying responses and qualifications. Success if often in the eye of the beholder, however, I’ve yet to meet an owner or technician who went into this industry or opened their business as a non-for-profit. At the core, regardless of job title you went into this business to be profitable, in other words…make money. Ideally, as an owner you wanted to create something that is sustainable, long lasting and provides a legacy or a vehicle for retirement. If you are like the many owners and professionals that view at least part of your success as gaining more profit/money then read below for a three ways to increase your profit potential.

1. PEOPLE CAPITAL: Money can be lost and/or gained by the individuals that you recruit, train and hire. Developing a consistent plan for building your team and growing their skills, knowledge and attitude is the most reliable way to increase your profit potential.

2. FINANCES: Know the story of your numbers. The numbers don’t lie and learning to organize, analyze and capitalize on the story they tell can make all the difference. You make money only by growing sales, number of clients and the number of times they visit…you KEEP money only by managing budgets and controlling expenses. Gaining greater financial acumen means gaining greater profitability.

3. BRAND: What makes you different? Whether you’ve established your brand or not you’ve got one. Developing a brand/marketing campaign in today’s marketplace is one of the vital contributors to not only survival but your profitability. From your vision to your business cards, from marketing to the way your team communicates to your customers, your brand needs to be clearly defined, marketed and managed.

Seems easy enough right? Well, if it was then I wouldn’t need to write an article on how to increase your profit potential. The way each individual measures success may vary from person to person, business to business, but what remains the same is the need to change. That’s where the rubber meets the road. In my opinion when people quit, or simply begin to coast it is because they were pushed up against the wall of change and it got too uncomfortable. Only those individuals who have an honest to goodness desire to grow and change are the ones who will rise above the challenges, the hard work, and the opponent’s pressure and simply dig in and do the work. Those individuals, in my opinion, have earned their bragging rights. They know what it takes and willingly ‘fail forward’. They learn and grow and grow and learn. They lend a hand to lift another up. They avoid being egotistical and judgmental. Success is like a magnet. Look around you, have you attracted success? If you have then you’ve earned bragging rights. Go ahead, toot your horn. When you are humble your contribution will open doors for others to learn and grow. Toot! Toot!

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