Explore how to increase team pay without compromising salon profitability. Learn about financial management, motivation, and business transformation
1. Salon targets originate from our personal ambitions: The podcast emphasizes that the targets we set for our salons are not arbitrary numbers, but should be derived from our personal life goals and ambitions.
2. Setting achievable and challenging salon targets: Goals for your salon should be both challenging and achievable, helping to drive motivation and progress. These targets should not be based on arbitrary numbers, but rather reflect what you want to achieve in your personal life.
3. The concept of 'work-life balance' might not be suitable for small business owners: For small business owners, there's often no clear boundary between personal and professional life. Hence, the goals set for the business should reflect the larger picture of your life.
4. The importance of planning for the future of your business: Depending on what you want for your business in the future (whether you want to sell it, pass it on, or close it when you retire), you should plan and build your business accordingly. This can directly influence your salon targets.
5. Aligning team targets with salon targets: The podcast emphasises that team targets should not be separate from salon targets. They should be aligned in such a way that achieving team targets will contribute to the overall salon targets and eventually to the realisation of your personal life goals.