'You're the Boss - so what is your job? And can you do it?’
By Carl Keeley
Congratulations you are your own 'boss'. You're probably a kick ass hairdresser with amazing skills and a huge personal clientele that you've built up over many many years. And now you've done it, you've taken the BIG leap and you are the 'Boss'. Your clients are thrilled, your family and friends are super proud and you've even impressed yourself. You are the 'Boss' finally, just let that sink in for a moment... deep down you know (and we all know) that you've just got no idea when it comes to the actual financial management of your new business. In fact the whole topic of business leaves you confused, scared and basically freaked out. What now - it's your job and you chose it.
But wait - wasn't this your idea? Wasn't this the pinnacle point of your career that you had always worked towards? Isn't this what it's all about? You are the Boss - but now what? The 'what ' is starting to look like this - killing it on the floor all day everyday, fielding calls non stop as there's nobody else you trust to answer the phone, dealing with employees who 'just don't get it', fending off Sales Reps who just need five minutes of your time, counting stock and making stock orders so you don't run out, remembering to pay this stock bills so your supplies will still fill your orders, marketing full on so you can 'grow' your business, being first in to open and last out to close, keeping up with your own education and the Team's too. So now you've done 'it' you've successfully managed to promote yourself to Salon Owner, Manager, head Stylist, Marketing guru, bookkeeper, head cleaner and window washer or whatever else happens to fall upon you on a daily basis. You've successfully worked harder and stressed more than at any time in your entire life - you have 'made it'. SO now for the good stuff, surely after all of that work you are now 'rich' because everybody knows that the 'boss' is filthy rich of course... but as you crack open your online banking window the horrible reality of being the 'Boss' is there in basic black and white font - you are not rich. In fact you are now in all likelihood the poorest you've ever been when you finally figure out just how little you're making for your 70 hours plus of work each week. How did this this happen to you and how do you get this back on track to once again be your dream?
The answer is of course simple and unwelcome - you are a great hairdresser but you are a a fully fledged beginner when it comes to business. Before you throw in the towel take a minute to understand this... in all likely hood you've spent between 10k and 20k hours actually working as a professional hairdresser. Yes you are are good and you have a lot of experience, plus you have been formally educated in your vocation. Now you're theSalon Owner... you have a basic knowledge of money (because you spend it), you have zero hours running the financial side of a salon business (i.e, full access to a P&L or discretion to set salon financial metrics), you have zero hours of formal business education. Weigh that up in your mind and you'll come to a conclusion that looks something like this - you are an awesome hairdresser because that's what you've been trained to do but you are a Business beginner because you've never done it and have no education on it. So now what do you do about this given that you've already plonked done your money (hopefully our own)? Where to form here for you? Option 1 is the simplest - sell up and go back to being a great hairdresser and let someone else do the Salon Owner thing (just not you). Option 2 is what we call the 'hot potato' plan. Simply hire someone to do the business stuff for you whilst you do what you love which is the face to face with clients. That sounds great doesn't it, right up until you realise that your 'Manager' also has no idea what they're doing and since it's your money not there's they actually don't care quite to the level you do either. Option 3 is the toughest one - 'man up' or 'woman up' and get your self educated, coached and mentored to figure this stuff out. It's the hardest for a couple of reasons. Firstly you're going to have to fess up and admit that you've got no idea about this 'business stuff'. Then you have to not only pay for the education but you also have to make time to do it. And then you have to wait and be patient, after all this year's learning your hairdressing craft you have to balance the time spent equation on the business side of things. Meaning this isn't a two day fix but nor is it a five year fix either. Can you spend a couple of years to make the dream work after all time will pass by regardless. The alternatives are quicker but not exactly what you have dreamed of.
If you've read this far you're likely opting for the third scenario - so let's do this hard thing now... let's start learning about being a Salon Owner. Let's build the skills and the knowledge bank that you require to make this a success. Think of this as a second apprenticeship. It will take time, it will be frustrating and confusing. It will take a lot of extra work on your behalf. So it's time to commit now and learn this 'business stuff'... let's go.
Carl and Belinda Keeley Present
Salon Financial Management 2 day Course
$799//2 day Course
April/May Early Bird Booking Code for 15% discount use RLVZYU1
BOOK HERE or email firstname.lastname@example.org for invoice options