The holiday madness is dwindling down, stores are slowly taking down their Christmas lights and stuffed stockings and everyone is joining the New Year’s resolution wave, mapping out what they’d hope to achieve for the new decade. Your business should be no different. As a matter of fact, when you fail to plan – you plan to fail. So whether or not you’re a subscriber to the New Year’s resolution paradigm, having overall goals can be the very catalyst to doubling your business revenue, having a stronger team culture and overall happier customers.
So what are some of the things to watch out for to make 2020 your most profitable year yet? Let’s dive on in…
SIMPLIFY TO AMPLIFY
Let’s paint a picture here… imagine you have a raging craving for sushi – you pull up Google, try to find the nearest sushi restaurant and it pulls up two locations:
Which do you feel will fill your craving more? The restaurant that has an array of foods and cuisines or the sushi place? It’s a no brainer isn’t it. That’s what needs to be implemented on your business as well.
Often salon and spa owners fall under the trap of wanting to offer more services and bring in more products at an attempt to get a bigger market share and induce more sales (aka becoming a buffet-style business). When the reality is if you simplify and pull all your focus in a single service and become known for it, in no time you’ll become the go-to business (similar to a world class sushi place). When you simplify your business and clutter down all your offerings, YOU AMPLIFY your sales because you’re repositioning yourself as the expert of that field.
What we suggest: Take a hard look at your biggest sales component of 2019 and rank them in order from biggest revenue to the smallest. This will give you an idea of what you should be focusing and doubling down on in 2020.
**The good news with Milano Software you can head to your Reports section where you can filter it all there. Interested in learning how to do this. Click here.
WORK ON YOUR TEAM CULTURE
Having a strong and mighty team will elevate your business on steroids! The tighter your team is, the healthier your business will be. It’s important to map out the financial (and non-financial goals) of your salon/spa and voice it out to your team. But what’s even more important than that is to make them feel that they’re contributing towards it. Your team must feel like they’re part of a family. Family members hold each other in high regard, always want to help each other out, and generally prove that they’re worthy for being part of it.
Bottom line is the more your team feels like they’re being taken care of, the more they’ll start caring about your customers, the happier your customers will be, the more traffic it creates for your business and it’s all a looped cycle.
Don’t believe us? Try on these stats for size:
So not only would you end up saving money (which will add to your profits), but overall you’ll have a more productive team that’s constantly fuelling your business into a power house.
What we suggest: Create a vision board with your team. This can be a fun activity that makes them feel they’re part of something bigger. Bring a big white cardboard, some magazines and start creating a piece of art together on the vision of where you’re hoping your salon/spa is headed.
MARKETING, MARKETING, MARKETING
In busy seasons or slow seasons, you need to always be marketing your business. With the rapid rise of social media, it’s now easier than ever to drive more foot traffic to your door.
That’s why it’s quintessential to really start understanding how to market on said platforms rather than just posting for the sake of posting. The days of uploading your stuff online and having them found are long gone. Which is why “marketing” is a crucial tool to understand and implement all year round for your business. If your business can afford to outsource and hire a marketing manager, depending on how proficient your marketing manager, can be one of the best investments you make for your business. But if you completely neglect on marketing, which in our experience most salon and spa owners do, then you’re neglecting a very big portion of the market who may as well have been paying customers of yours.
Your marketing efforts will drive 90% of your customers, depending on how good of a marketing strategy you put in place.
What we suggest: if you feel too overwhelmed on where to start, we strongly recommend focusing all your efforts on Instagram. Why Instagram? Because it’s a highly visual platform that will enable you to create a cohesive portfolio for your business and it’s the number 1 way users find stylists, masseuses, nail artists, etc.
**We actually have an Instagram guide that you can download for free. Just click here to get your hands on it.