The Secret to Loving Salon/Spa Ownership
Owning a salon/spa will always have good days and bad days. Heck, work in general has good and bad days.
Good days are when everything is running like clockwork, employees are productive and playing nicely together, critical numbers look great, and revenues are driving profit and cash reserves.
- Translation: Business is fun and fulfilling. Whatever stress exists, it doesn’t get in your way.
Bad days are when problems are piling up, employees are driving you crazy, your critical numbers are scary, profit has left the building, and cash reserves dried up long ago.
- Translation: You feel stressed, beaten up, and sometimes, even defeated. The stress has you questioning if it’s all worth it.
So, what’s the secret to getting and staying in love with your
If 2020 taught owners anything, it was how much more leadership, making tough decisions, financial control, and culture development it takes for a business to thrive and endure.
Here are the four non-negotiable secrets to love salon/spa ownership:
- Leadership: There is no “set it and forget it” in leadership. Leaders plot the course with their vision. They inspire employees to take the journey with them to achieve that vision. They lead them through the tough times and celebrate the victories large and small. They demonstrate accountability, commitment, transparency, and trust every day. KEY: Leadership is all about doing the work to build something special by helping others achieve their full potential. Love is an outcome leaders earn.
- Making tough decisions: Things go sideways in business. Great ideas can become disasters. Money can get excruciatingly tight. An employee with a bad attitude can infect other employees. KEY: No one loves making tough decisions. But making tough decisions sooner than later is the only way to overcome challenges. And the sooner you overcome challenges, the more you love being an owner.
- Financial control: Who the heck loves budgets, Profit & Loss
Statements, and Balance Sheets? Budgets require planning and discipline. Profit & Loss Statements and Balance Sheets are nothing more than scorecards. KEY: Savvy owners know that the discipline to live a cash-flow plan and stay on budget is key to creating Profit & Loss Statements and Balance Sheets that make you love being an owner. A healthy business is easy to stay in love with.
- Culture development: Your company’s culture represents the spirit, life, and heartbeat of your salon/spa. Culture is about everyone pulling in the same direction, shared values, pride, loyalty, achievement, and extraordinary opportunities. KEY: Most owners underestimate what it takes to create a dynamic team-based culture. In the most profound way, culture is a leader’s highest purpose. Culture is the key to achievement, sustainability, and opportunity. A great culture earns more than admiration, it earns the love of owners and employees alike.
Here’s my challenge to you: If you already love your company,
congratulations. You understand the power of the four non-negotiables listed above.
If you fell out of love with your salon/spa, you know who holds the keys to reigniting that love beyond your wildest dreams.
Take a seriously hard look at your relationship with your company. If you’re feeling more stress than love, you need to schedule a free call with a Strategies coach.
We’ve been helping salon/spa owners fall back in love with their companies for over 27 years.
? Schedule a free 60-minute strategy session to start building your Team-Based salon, spa, or medspa … CLICK HERE