Episode 136
Ep. 136: Common Financial Mistakes that Salon Owners Make (and how to avoid them).
https://www.instagram.com/laurenlappin_
In this week's episode Lauren discusses some of the most common financial mistakes that Salon Owners (of all experience levels) make, and how you can work to avoid them.
You don't need to address all the potential financial mistakes in your business at the same time, just take them one a time and watch your revenue and your profitability grow ~ Lauren Lappin.
8 Common Financial Mistakes that Salon Owners Make:
- Not having proper daily processes for handling transactions and cash. (01:30).
- Not optimising your Salon Calendar/Schedule, and not Block-Booking. (05:45).
- Not taking retail seriously enough. (10:30).
- Not maximising add-ons and upgrades to services. (15:30).
- Ignoring your reports, and running your business with blinders on. Not knowing (and understanding ) your key numbers. (18:30).
- Overspending on supplies and other business costs without checking for better deals and seeking out discounts from suppliers. (22:00).
- Undercharging and/or not increasing your prices, ever. (24:30).
- Not incentivising your Team to perform at their absolute best. (28:30).
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Lauren on Instagram: https://www.instagram.com/laurenlappin_
Allure's Instagram: https://www.instagram.com/allure_lashbeautybar
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This Episode was Recorded and Produced by Josh Liston at DeadsetPodcasting.com
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This episodes theme music (Title: 'Highlander'') is from the amazing 'Scandianvianz'.
Check them out on YouTube here and Subscribe to their Playlists: https://www.youtube.com/watch?v=NIGxBs8IPHM&list=PLzCxunOM5WFLOaTRCzeGrODz8TWaLrbhv&index=24
