Ask the expert: start-ups
If you are a beauty or spa therapist looking to start your own business, the first thing you need to change is your mindset – to think more like a business owner. You have to create a strong environment for your business to be successful, which requires a lot of time and energy.
However, if you concentrate on three main points it is certainly achievable. Those three points are Wealth, Flow and Me.
Wealth does not necessarily mean money, but you do need to understand what creates wealth. Make sure you have agreements in place with your staff and suppliers. Keep your accounts in check by looking at your numbers once a week, including expenses, payments in and your end balance. It’s surprising how many people don’t know how to read a financial statement, so bring in a team of people that do or check with your financial advisor. Training systems can also create wealth. It is important that your employees are trained to the same standard, so make sure you document this.
The Flow is important to keep clients happy. A strong brand attracts people, so branding and marketing is essential. If you have good marketing then people should come to you. Once this is in place you will attract more sales and, therefore, more recognition for your brand. It should be a continuous cycle.
The Me is you. It is essential you look after yourself, not just your physical health, but your mental state. Firstly if your family life and the community around you are happy then you will be. In everything you invest in, whether it’s time, energy or money, you need to make sure you’re adding value.
Kurt Won is co-founder of SalesPartners UK, a sales and business development company. He spoke about creating a successful salon or spa business at Professional Beauty North 2013 in October.
This article is taken from the February issue of Professional Beauty. As a subscriber, you can read many other expert advice plus industry news, product and treatment reviews and much more. Make sure you never miss an issue by subscribing here for just £37 for the print edition, or buy a digital subscription here, which gives you access to the full magazine online for just £4.99 a year.