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Finding Opportunities During Tough Times

Tough times have always provided great opportunities. The trick is to know what to look for. 

Don’t keep doing what you did during good times and expect the same results. Keep up with the changing needs and expectations of your business and your clients. 
 
Focus on the needs that come to fore during tough times.
For example, now might be the time to introduce saving accounts for your clients, so they can put money into their salon account weekly and then not have to worry about the bill when they are getting high ticket services. Encourage them to take advantage of programs like Salon Pay so they can get hair and beauty services on whatever payment terms they prefer: weekly, fortnightly or monthly prepayments, and even Buy Now Pay Later.
 
Be transparent with your team members.
This will instill confidence as it demonstrates that you’re thinking of the overall growth and health of the salon business and including them in this. Remember, your team members are experiencing their own fear and instability, just like you. Transparency reassures them.
 
Constantly experiment with new ideas.
The trick is to take a number of small, manageable risks and see what sticks. For example, offer a prize to the team member who gets the highest bill from a single client in a month to encourage your team to upsell daily. Or introduce exciting referral programs for clients that motivate them to take action. For example, you can offer a $50 voucher to use on any service when they refer a client that spends over $150. 
 
IMPORTANT NOTE: Do you know the cost of acquiring a new salon client? This figure is important when you are making decisions in relation to referral programs.
 
Roll out the red carpet.
Excellent customer experience doesn’t cost you anything extra; in fact, it pays and it’s your best opportunity to gain a competitive advantage in a crowded marketplace. When your client leaves your salon, touch base, send an automated message and ask them to rate their experience. Offer them a gift for their time e.g. a $15 voucher to use on a new service they haven’t experienced yet.
 
Follow up on every call and inquiry.
In good times, leads can slip through the net, but there’s no room for that now or for the foreseeable future.
 
Don’t pretend to your team or your clients that times aren’t tough. In fact, emphasize it. Reassess the needs of your marketplace by listening to your clients. They bring an objective eye to your business, so listen to their feedback and ask for their suggestions. Make sure they feel appreciated and they will continue to support you.
 
Resisting change is pointless. Only by embracing change can you survive it. Smart salon owners are prepared for change and are flexible enough to stay ahead of the game. The economic reality has created new boundaries. Leverage those boundaries to provide your salon with focus and increased creativity. Economic downturns are tough, but resourceful entrepreneurs who are willing to take calculated risks can ensure a prosperous and safe future.
 
2021 is the year of uncertainty. To make sure that uncertainty doesn’t become overwhelming, frightening, and paralyzing, identify what you can and cannot control.

You can’t control:
– the virus
– the economy
– the weather
– what your competitors are doing

You can control:
– your prices
– the brands you partner with
– your investment in salon training
– the quality of your work
– your customer experience standards
– your opening hours
– your salon promotions
 
To successfully continue to steer your salon through unchartered territory, learn to focus on what you’re in control of and watch your salon soar.
 
Do you need expert guidance during these tough times?
 
Book your FREE strategy session with me to quickly boost your salon business today!



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