The 80-20 rule (or Pareto Principle), is one of the most popular principles we are taught in business, work, spending habits, and life. Let’s go over how the 80-20 rule impact your business!
Does it surprise you that our industry still segregates our services based on gender?
As a society we are constantly working towards creating safe and inclusive spaces for all. There are multiple ways salons can help create these spaces and also practice allyship too.
Women are presumed to have long hair, and men short, but that isn’t the case. Why should females with short hair pay a premium, versus men with longer hair getting away with a lower price?
Cost of Goods Sold, cost of sales, cost of revenue, or cost of services are all referred to as the direct costs associated with services completed during a period of time at your salon.
If you don’t know your numbers you don’t know your business. It’s critical to know the financial state of your business. Now you may face some hard truths here. But knowing the inflows and outflows of your business, helps you to create a plan and identify where you can make improvements in your business i.e. paying off debt. Knowing your financial position also helps you to identify changes in your financial heath faster and mitigate them.
If you don’t know your numbers you don’t know your business. It’s critical to know the financial state of your business. Now you may face some hard truths here. But knowing the inflows and outflows of your business, helps you to create a plan and identify where you can make improvements in your business i.e. paying off debt. Knowing your financial position also helps you to identify changes in your financial heath faster and mitigate them.
Raise your hand if you have compared yourself to others at work, on social media, or anywhere else! Whether it’s on Instagram or with friends, it’s so easy to think we are falling behind, that we are alone or that we are not good enough…
What if I told you that there are 4 things you can do to help your salon to run smoothly and increase its profitability. I don’t know about you, but that makes me feel excited. Now what if I told you that these 4 things have to do with using data? You likely might feel more reserved to try out these tips. But fear not, I promise these are easy tips!
If you could write a letter to COVID-19 what would you say? I’m sure it would include a lot of capital letters and a few obscenities. The majority of our letters to COVID would involve similar themes: “Why me? Why now? How could you? This isn’t fair!”
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