It's a new calendar year; now what? 

One of the most valuable things you could do to improve your situation, whether you're looking at personal or professional goals, is to take action.

Objects in motion stay in motion, so DO SOMETHING, anything.

New Year Goals

Personal Goals

What would you like to accomplish outside of work this year?

What does your time outside of work look like?

Do your goals include spending more time with family and friends? Would you like to spend more time on vacation? Do you want to explore new hobbies?

It's good to think about and consider these things as we head into a new calendar year because if you don't, it's easy to slip into doing things the same old way.

Try this: Spend some time building your perfect day. Write down everything you do (when you're not at work). 

Business goals 

Take a good look at your foundation. Mission, vision, core values. 

Are you living those? 

Is your team living those if you're a salon owner or leader?

You didn't take the time to create a vision to sit there; you've made these things to guide you.

Financial goals

Your finances are what allow you to operate a business. You should work to understand your business's finances, and by doing so, you'll be able to identify growth opportunities.

• What financial goals do you have for your business? 
• Did you reach your monetary goals in 2022?
• What adjustments can you make?

Staffing

Your staff is your support. Without a team, you won't get very far. Even if you work for yourself as an independent stylist, you'll surround yourself with a support team that includes your lawyer, accountant, and mentors.

• What does your team need to succeed?
• How can you leverage your time to get the most out of working with your team?
• Is it time to expand or downsize your team?

Systems

Systems are paramount to any business that expects to thrive. From opening and closing checklists to emergency procedures, having solid systems in place sets you and those around you up for success. 

• Systems provide value to your business if you choose to sell someday. 
• If you encounter a repeat challenge, you likely need a system in that area.
• Systems allow you to avoid micromanaging.

Educational

Your educational goals will keep you up to date in the industry. From trends to maintaining the fundamentals, education is always a good idea. There are countless in-person and remote options for continuing education. Beware, not all classes are created equal, and not all educators are great at delivering knowledge.

• What new techniques, styles, etc., are you interested in learning?
• Do you have information that would benefit others? I.e., Are you interested in educating others?
• Is there something that you or your team could improve?

Marketing 

Marketing is overlooked or misunderstood in the hair industry. You will eventually encounter issues if you're not constantly bringing new clients into your business. I'm always confused when I see 'not accepting new clients' on a hair pros profile. By not taking new clients, you're creating a ceiling for your earning potential. 

• What services are a specialty of yours? What services do you want to do?
• Who do you want to serve? What does your perfect client look like?
• Where can you reach your ideal clients? Where do they spend their time? E.g., online, coffee shops, gyms, etc. 
• How can you stand out?
  

Culture

The culture that exists in your salon business is vital. Culture will either attract clients and employees or turn them away. Your culture must be authentic and genuine. It'll be challenging to fake culture because your words don't carry weight for long if your actions aren't matching them.

• Have you defined your company culture?
• Are there positive changes you can make to your business to improve your culture?
• Do your employees understand and buy into your culture?
  

Sale of business

The sale of your salon may be something you spend little to no time thinking about. You may think, "I'd never sell my salon!" But, you'll effectively build a much stronger company by thinking about the various aspects required to sell a business. Things like furniture and equipment have little to no value in a sale. Other entrepreneurs are interested in purchasing systems, marketing strategies, strong financials, and other tangible items. 

• If someone was interested in buying your business, what would they receive? 
• Do you understand the valuation of a company?
• What is your exit strategy if you're not considering selling your business? 
  

Closing

Take on the new year with new thoughts and approaches toward your business. 

Run through some thought experiments to open your mind to new ideas.

Even if you feel your salon business is running perfectly, there's always something that you could improve. 

If your goals include optimizing your business, create a strategy, write a plan, and execute one day at a time.

Your effort will compound over time, and you'll be surprised by the progress you make in 2023.

Book a call with Hello Hair Pro if you'd like to learn more about how we can help organize your thoughts and take your salon business to the next level.