Blog

Sep
10
SALON SUCCESS SCOREBOARD

Salon Success Scoreboard

What is your favorite sport? Are you a football fan? Maybe you prefer tennis or basketball? No matter what your favorite sport is, there is one way to know if your team is on their way to success… the scoreboard!

As business coaches and consultants we work with Salon & Spa Owners everyday and one question we ask is “Are you on the path to success and how do you know if you are or are not”? We hear a variety of answers but rarely do they tell us they know because they are using a business scoreboard.

In business, just like in sports, you cannot afford to make it to the end of the year or even the end of the quarter without knowing where you are on your scoreboard; your Profit & Loss Statements. In fact you should be reviewing your Profit & Loss (P&L) Statements in detail every month, and you should have a strong understanding of the details contained in your P&L as well as what the percentages are and how they compare to industry standards.

When we are working with our clients we review their P&L with them and begin to teach them how to better understand this critical business scoreboard. Most often when we first start this part of our coaching they feel confident that they do understand their P&L statements or they admit they glance at them and set them aside expecting their accountant will let them know if they need to look at something. But after we work with them on this topic for a few sessions they become more comfortable with their P&L and begin to realize they were not clear in their interpretation of the numbers. We also train them what to watch for as signs that they are headed to success or headed to trouble.

Our team of coaches have developed a powerful Salon & Spa specific Financial Analysis system that compiles the details from your P&L into this Industry Specific tool that gives you clear details on where your business operation needs to improve.

Give us a call to talk about your Scoreboard! (760) 536-9012 The first consultation is complimentary which gives you a great opportunity to gain a better understanding of your business operations.