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Where Your Salon/Spa Would be Now?
October 27, 2019 | By Neil Ducoff | 2 Comments
“A business moves at the speed of its leader.” That’s what Strategies Coach, Daryl Jenkins, says when an owner asks how long it takes to implement change.
There is so much truth to Daryl’s statement because every salon/spa owner is a unique collection of thinking and behavior, strengths and weaknesses.
Owners have their own tolerances for financial risk taking. In the coaching business, it’s pretty common to work with owners that have amassed a mountain of debt. Likewise, we work with owners that strictly manage debt and many that are debt free.
When it comes to decision making, there are owners that weigh every detail multiple times before making a decision.
Some owners procrastinate on decisions hoping the problem will fix itself or just go away. Business problems never fix themselves.
Of course, there are those owners that make decisions based what they feel in their gut. Sometimes, gut decisions work out. Most times, that “gut feeling” is just gas.
So, if you removed all of the hesitations, lack of confidence, procrastination, fear of failure, fear of confrontation, risk intolerance, and other roadblocks, where would your salon/spa be now?
To help you answer that question, here are some of my top ten No-Compromise Leadership strategies to grow your salon/spa company:
- Brand recognition rocks: The value of your company is in direct proportion to the strength of your brand. This means that the greater client loyalty is to your salon/spa, the greater the value of your company. There’s a difference between providing growth opportunities for employees and building the “books” of individuals. KEY THOUGHT: Where would your company be today if the clients on the appointment book were loyal to your brand?
- Never hesitate to lead: Many salon/spa owners start out as service providers, not company leaders. Leadership is about the quest to achieve a company vision. Leadership is about structure, discipline and accountability. Yes, it’s about fun too. KEY THOUGHT: Where would your company be today if your leadership gave it structure, discipline and a shared sense of accountability?
- If the shoe doesn’t fit: Every salon/spa eventually deals with a toxic employee. When that toxic employee brings in a lot money, too many owners get stuck in the “fire the toxic employee and lose the money” dilemma. Toxic behavior typically develops over time because the leader failed to engage. Keeping that toxic employee methodically wrecks your culture. KEY THOUGHT: Where would your company be today if toxic behavior was addressed early on, or the toxic employee was terminated before the damage spread?
- Yes, you can: There’s nothing wrong with questioning your abilities as a leader. Leadership is tough work. Leadership will always push you out of your comfort zone. A leader cannot inspire and empower others if the leader is not willing to take the first step into the unknown. KEY THOUGHT: Where would your company be if you lead your team into the unknown when opportunity presented itself?
- Profit is planned: Financial literacy and accountability is a leadership responsibility. It doesn’t matter how busy, beautiful or popular your salon/spa is if it cannot create profit. Profit is a planned outcome. Profit requires leaders to practice financial discipline. KEY THOUGHT: Where would your company be today if you planned for profit and worked your plan?
- Debt is dead weight: It makes sense to borrow money to start your company and fund growth. Busy salon/spa facilities and equipment get worn out and require periodic refurbishing. Opportunities to expand service offerings and space typically require financing. But when borrowing money and excessive credit card debt get out of control, cash flow suffers. The situation gets critical when money is borrowed to meet expenses and payroll. KEY THOUGHT: Where would your company be if you managed debt or became debt free?
- Manage what’s on your plate: Leaders that are overworked and overwhelmed are pretty ineffective leaders. The same goes for leaders that sacrifice family and personal time. Leadership is about empowering and growing those you lead. It’s not about holding onto every job and responsibility yourself. KEY THOUGHT: Where would your company be if you let go of some of the controls and responsibilities so you could focus on what’s truly important?
- That one big initiative: Change takes time. Launching new growth initiatives take time to plan and execute. For example, building and implementing a formal Internal Training Program is a major undertaking that can take a year or more. KEY THOUGHT: Where would your company be if it completed one big initiative each year?
- Show appreciation: It’s so easy for owners to get caught up in the day-to-day battle to grow revenue, manage expenses, deal with employee issues and just make it through another week, that the simple act of showing appreciation gets stuck on the back burner. KEY THOUGHT: Where would your company be, and how awesome would your culture be, if you simply make it a practice to show your team members that you appreciate their contribution, hard work and loyalty?
- Take time: One of the big reasons to become the leader of your own company is to have some freedom. If your work consumes you, that is not freedom. If you cannot take time to recharge and refocus, that’s not freedom. If you cannot turn your business success into rewarding yourself with time off, that’s not freedom. KEY THOUGHT: Where would your company be if you periodically took time to recharge and refocus?
Here’s my challenge to you: These ten strategies are not rocket science. In fact, you probably knew them already.
But how many of these ten strategies can you check off as done?
FACT: Your business could be in a very different and better place if you were living most or all of these ten strategies.
There is no better time to start living them than now. No excuses.