Highlighting the Flaws in Our Industry… and What We Can Do About It.
As I’m sure you all feel – there is a disconnect in our industry. A huge motivator for us is trying to create awareness to spark change for some of the flaws currently present in the world of hair. A couple that stand out in particular that we have opted to discuss: the fear of transparency, lack of business education, and the lack of comfort we have when it comes to understanding our numbers.
Let’s start with the fear of transparency. As an industry we tend to be very competitive with one another, and understandably so! In a very saturated market it’s hard to build your clientele from the bottom up and you’ve worked to get where you are! So it’s no wonder that you want to protect “the secret sauce” that has made you successful. While this may seem like an advantage you’re actually putting yourself at a disadvantage. Why? Because it gives you another perspective on running your business, hiring your staff, posting on Instagram, etc. We are constantly evolving as technology changes and any way we can help each other get ahead only helps create more opportunities.
We also need to be more transparent about what is actually going on in our business with our stylists. It’s not because your stylists don’t care about your business…. It’s because they don’t know what is going on behind the scenes! Recall that moment you decided to move from a solopreneur/stylist at a salon to opening up your first salon. There is a lot more that goes into your business than you probably initially anticipated. Same goes for your staff. They don’t know what you deal with on a daily basis – so show them. Show them how you break down your commissions; show them what your monthly profit is – guaranteed they think you’re rolling in the dough (when we know this is often not the case…but would be sweet!!!). Teach them the importance of business activities so after they learn leadership qualities from you, how to manage their clients and charge their worth from you, they can feel confident opening up a salon of their own one day. And your legacy LIVES ONNNNNN!!! Remember this: community over competition. We cannot stress that enough. With a community mindset you will win over a competitive mindset – every - time.
Lastly…. We need to start getting comfortable with our numbers. Stop avoiding them. Start learning what they mean so you can confidently run your business and stop guessing. Knowing ALL the ins and outs of your business will only make you feel more in control of your salon and help you make more informed decisions. This is why we keep encouraging you to take the time to track your color costs and charge your worth…accurately!! By knowing our numbers we can justify our prices and be more transparent with our customers.
For more information, please feel to reach out to us about how to implement these changes into your business. We love to do coach calls for anyone out there that might be struggling in any areas of your business.