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Much of my success with membership-based businesses is also because of my ability to continuously grow in the area of “mindsets”. Here are a number of tips to help you think and create in a big way.
Tip One–Honor Your Urges
One of the main reasons I left the corporate world and took the entrepreneurial plunge many years ago was so I could do more of what I enjoyed and less of what I hated. It makes sense doesn’t it? Yet, you would be surprised how many entrepreneurs don’t do more of what they love. Make sure you take advantage of the freedom you have by setting boundaries early on in your business. Successful entrepreneurs don’t create boundaries after they are wealthy. They create them so they can become wealthy. Not always being accessible actually creates scarcity and attracts more business. From now on when you want to take off and head to Starbucks or you want to take a week off and go on vacation, honor those urges, plan accordingly, and then do it.
Tip Two–You Can Work Hard and Still Have Fun
When you first start your company, you probably will wear all the hats and work harder than you ever have. But once the business is built and you start to gain new customers and sell products, it is a lot of fun. The best part of being a leader is being able to pick up the phone and have access to someone you have admired for years because you are a gatekeeper to a database of customers. You learn so much from those experts you now have access to, and your customers will love you for it when you graciously pass new information on to them.
Tip Three–Let Go To Grow
One of the main reasons I became an entrepreneur and left the corporate world back in 1999 was because I loved the freedom to just let go and have fun. I wanted to have a higher quality of life where I could be creative and earn more for that creativity. Unfortunately, what happens with many entrepreneurs in start up is they get too intense and end up chasing away the most beneficial business and personal relationships. Always remember “why” you are pursuing this dream in the first place and remember to let go and have fun with the people you meet and do business with. I love working with people who make me laugh, who have a wicked sense of humor, who get passionate about their causes, and who know how to let go, be themselves, and make “work” fun. The cool thing is these types of people attract others like them, and your fun “network” then multiplies exponentially. So do your revenues. Bottom line: Letting go and having fun in business is good for the soul and for the bank account.
Tip Four–Build Millionaire Relationships
NO ONE can reach seven figures without building crucial business and personal relationships along the way. The membership-based business model is a millionaire business model and by using it, you attract important relationships more easily. Millionaire relationships aren’t always measured by the financial return on investment (ROI) you receive either. One of the most exciting parts of building a company that you are passionate about is all of the dynamic and energetic people you can access. This type of ROI often shows up in the form of real people who serve as resources when you need them. All you have to do is decide to take action and work on getting to know people. Then you can communicate how your company can help them solve their problems.
Tip Five–Understand Entrepreneurial Energy
Millionaires rarely sit down, and they are often in great shape. They also don’t watch TV much, and they give of themselves freely. Millionaires have lots of entrepreneurial energy. They are creative, passionate, risk takers, who are big thinkers and always evolving. If this description isn’t you yet, start aiming for these behaviors today. Know that what you eat and if you exercise directly affects your bottom line. People are attracted to people (and companies) who take care of themselves and are full of energy. What you feed your brain (literally) determines your ability to solve million-dollar problems and come up with million-dollar ideas. (Just some food for thought!)
Want To Use This Article In Your Ezine or Website? You have my permission, as long as you include this complete blurb with it: Sheri McConnell is the CEO of Sheri McConnell Companies, Inc. and the president and founder of two global organizations, the Smart Women’s Institute of Entrepreneurial Learning (formerly the National Assn of Women Writers-2001) and the Global Institute of Associations-GIA. You can visit Sheri, access her free article archive, and grab lots of free stuff at http://www.smartwomeninstitute.com or http://www.giaconnect.com. Sheri lives in San Antonio, Texas with her husband, their four children, a weenie dog, and three hermit crabs.
1: Brush your hair on a regular basis before going to bed every night.
2: Wash your hair with gentle shampoo preferably shampoo without sulphates.
3: Avoid brushing wet hair. This will cause hair to stretch and break. Finger-dry or use a large tooth comb to gently remove the knots and snarls.
4: Air dry your hair if possible. If you have to blow dry your hair, use a professional salon quality hair dryer.
5: Avoid hair color, try henna, it will color and condition hair.
6: Take a calcium supplement or drink 2 glasses of milk every day.
7: If you use a flat iron use a professional quality flat iron, preferably a ceramic ionic flat iron.
8: Perming your hair sometimes leaves your hair unmanageable when wet. Use a botanical rich leave in conditioner and gently pull the conditioner through your hair with a large tooth comb .
9: Trim your hair once a month to prevent split ends and encourage new growth.
10: Avoid pulling back your hair tightly with clips and bobby pins.
11: Avoid the use of rubber bands it can pull and damage hair.
12: Use a SPF infused shampoo. UV exposure will dry and damage your hair. It will also fade your hair color
13: Massage botanical oils and vitamin E info your hair and scalp for soft, shiny healthy hair.
14: Avoid very hot water while washing your hair.
15: Eat foods rich in vitamin B, C and E.
The other day I passed an upscale nail spa and a sign on the front desk caught my eye: It read “Cheaper by the dozen, buy 12 manicures for the price of 10.”
Well what that hoity-toity nail spa knows is that frequent buyer programs, by any description, are a very powerful tool.
Here are a few ideas for frequent buyer programs.
* Make your program user friendly (for both the client and the salon/day spa). A punch card or a stamp will do. Make sure you keep the number of purchases in the computer in case the client forgets her card.
* For a more “expensive” look, try a plastic card. You can purchase these through your software provider. A wonderful touch is sending the client a printout of her usage.
* Try collaborating with an aligned business and offer “frequent” buyer programs. For example, you can arrange with a neighboring tanning salon to give a free tanning session for every three haircuts in your salon.
* Give a gift certificate valued at $x for every $y spent in services in your salon.
* Offer your top “inner-circle” of clients an exclusive discount as a reward.
* Arrange to give frequent flyer miles with your gift certificate program.
After you decide you’re going to have a program, make sure you:
* Clarify your goal.
* Clarify all the technical aspects of your program (how it works).
* Have a reward that the client considers valuable, but not so expensive that you lose money on it.
* Determine the length of your program—give enough time so the client can benefit.
* Know how the clients will receive the bonuses—don’t make them wait too long or jump through a ring of fire to get the bonus. They’ll only get frustrated and all your hard work will go down the drain.Test your program.
Andrew Finkelstein, President of the Beauty Resource, is a successful New York City-based entrepreneur, author, speaker, and coach who helps professional beauty businesses get more clients. Andrew’s E-zine The Finkelstein Report is the beauty industry’s #1 marketing resource with free articles, marketing tools, and valuable advice for salons and day spas owners. Contact Andrew at TheBeautyResource.com
If you are interested in printing a postcard for your sales or buy one get one events, please visit Salon Pro Marketing
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The question you want to ask yourself is what prices should we be charging? When you think about the answer, please keep your objective clearly in the forefront.
For sure your ultimate objective is to maximize the amount of money your business makes. It’s just that on the road to doing that you can use pricing as a strategy (there’ll be more on pricing as a strategy in a future Finkelstein Report).
However before we can even make pricing decisions it’s important to wipe your mind clean from four big pricing myths. If you hang onto these myths, you’ll be sure to dilute any advantage that a pricing strategy will bring to your salon/day spa.
Myth #1 Price is the client’s most important buying criteria. Sure price is important; however, it usually comes up around #4 in consumer shopping surveys about what’s important to them. Yes, there are people who buy based strictly on price. The question you must answer is do you want to do business with these folks?
Myth #2 You have to match or even slightly under-price your services or product in a competitive or commodity driven market. With so many different ways to differentiate your salon/day spa, I’m astounded people even think this way.
For instance, you could try:
- Specializing in a particular niche within the beauty niche (example: hair color or laser treatments)
- Touting your experience or credentials
- Partnering with top of the line manufacturers
- Limiting accessibility
Myth #3 Pricing only involves taking the cost of your service or product and marking it up by your desired profit margin. Unfortunately, too many salons/day spas don’t have a handle on their true costs so even if they wanted to do cost-plus pricing they couldn’t. For that matter, cost-plus pricing may have nothing to do with the value of your services or with the market price.
However, if you don’t know already, please find out the cost of delivering the service and figure out what gross margin you need to cover all your fixed expenses.
Myth #4 If your sales are stagnant or falling behind, just drop your price and they will increase. Remember that although people put a high value on price, they also put a high value on quality. In the service business, perception is reality, so when you lower the price you chip away at the perception of your quality.
There are ways to justify lowering prices, if you believe you can retain the clients once you have them in the door and up-sell and cross-sell them with other services. However, if you lower your prices to increase sales you could very well be accelerating your losses.
Andrew Finkelstein, President of the Beauty Resource, is a successful New York City-based entrepreneur, author, speaker, and coach who helps professional beauty businesses get more clients. Andrew’s E-zine The Finkelstein Report is the beauty industry’s #1 marketing resource with free articles, marketing tools, and valuable advice for salons and day spas owners. Contact Andrew at http://www.thebeautyresource.com or 212-831-2421 x202