Do you treat your business like a business?
Week 1 - Beauty Business Financials™️Welcome TO MY PERSONAL weekly MUSING AND REFLECTIONS to empower you to build strong financial foundations in your business.
Do you treat your beauty business like a real business ??
We have all been there! Boundaries slipping, starting to work late or earlier than planned? Internal pricing battles based on emotion or limiting beliefs.
If you struggle with getting too familiar with your business remember - You are not just an artist or therapist.
Among all the many hats that you wear - you’re a business owner for the whole time that you.. have a business.
You’re finances deserve structure, systems and support, and so do you.
This is much more than numbers and designing the ideal week not only gives you financial freedom but time freedom too. To ensure that you are not going off track and too far away from your business plan, it is important to strategically map out each action with intention, find the gaps and live life on your terms.
One really simple example of how to strategically navigate your day in business is to be intentional and don’t go to sleep on the upsell - or rebook!
Imagine if you could speak directly to your ideal customer every few months or weeks, no marketing spend, no social media strategy, email blasts or clever call to actions just pure quality 1:1 conversation’s with your ideal customer.
The stuff that business owners would pay thousands for.
Well what if I told you that if you are an established business, if you have a regular client base and your column is doing pretty well then you are in a very unique position, working in the beauty industry, and offering a service that puts you right Infront of your ideal customer, you are even holding their hands or face for blocks of time, it doesn’t get much closer than that!
To add to this after you have worked your magic they are grinning like a Chesire care admiring their glowing skin or latest nail design! They look amazing and they feel incredible too.
Emotion and consumer behaviour is well documented and is something that we are all affected by as consumers and business owners.
“Emotion is a necessary ingredient to almost all decisions”
Imagine if you could create a connection with your ideal customer, promote your service, share your brand personality story and emotions to encourage a booking every few weeks or a successful retail opportunity…. Imagine if you strategically showed up each day what this could do for your business and the financials.
This is the power of being a hair or beauty business owner, even when the odds are stacked against you with the economic challenges that we will address in other blogs, you have a unique advantage that larger corporations would pay millions for!
A brand that has national reach and a marketing budget to suit has power because they have the time and resources to create connections, enhance brand personality and share its story and emotions.
Sounds impressive and a lot of work goes into this type of promotion trust me! You can read about our experience soon with the Quickbooks National ad that we were able to share with our client soon here<
I’ve worked in salons, I know how much we lean into our customers worlds and really speak to them on a level. This is great and some of my greatest friendships started in the salon - but always remember when you are on the clock to treat the business as a business.
You should not be going home drained or fatigued by absorbing the energy through the day. You should be able to shut down feeling accomplished and satisfied that you made someone else feel good and even better if you also made an extra sale or booking in the process.
Imagine every time you open a cupboard, twist open the gel polish or wave a client off goodbye just imagine the business is watching and asking in its best Eddie Murphy voice ….
“What have you done for me lately?!”
Our weekly mailer has one exercise for our subscribers this week
Write your business identity statement: ‘I am a [your title] who helps clients feel [result(s)].’ Then, set a financial goal for the next 3 months.
By completing this simple exercise you can start to think about how much money you are working towards and what conversations you need to get there.
Want to see how you can have a play with the numbers?
Check out my income generator video and get in touch if you would like to have a copy of the spreadsheet.
Sorry for the ‘10k month’ hook below this was recorded when I was clearly influenced by the wave of 10k campaign’s but whatever level of income you are working towards the concept remains the same.
Written by Ria-Jaine Lincoln MAAT. Business Mentor, strategist and Licence Accountant and Founder of The Beauty Accountant.