BY ZAN RAY & TOM COLLINS @elevate_your_business
Now that the COVID-19 pandemic is diminishing and life is slowly returning to normal, hairdressers and salon owners are finding new ways to reinvent themselves. All independent hairdressers and salon owners should consider the following best business practices from Zan Ray and Tom Collins, the duo behind Elevating My Business, to stay on the cutting edge of their businesses and profession:
- Plan your business day before it begins
- Write down the main things you want to have completed at the end of your day (especially revenue forecasted for the day)
- Identify 3 things that MUST be done today as they relate to clients, people you must contact and people you are waiting on for information
- Refer frequently to your plan for possible adjustments due to the actions or lack of actions by others (clients and staff)
- Finally, after your day’s review, plan ahead for the next day so you can sleep well knowing the day is already taken care of. (Just like laying your clothes out the night before so you don’t have to decide the next morning what you are going to wear!)
- Always separate your business income, expenses, and owner compensation from personal income and expenses! This means establishing a separate business checking account to record only income and expenses
- Track your ongoing business income, profit allocation, owner's compensation allocation, taxes allocation, and operating expenses in a cashflow document that monitors your ongoing cashflow and running checking account balance on a daily basis
- Take dedicated time to review the cashflow sheet at least one time per week
- Schedule time for periodic breaks so you do not burnout during you workday. Remember, you are managing your time and day for maximum productivity, effectiveness and success!)
- Eat nutritious, healthy and timely meals to keep your energy high
Learn more tips like this directly from Ray, Colins and other business gurus at IBS Las Vegas on June 20 and 21.
ABOUT ZAN RAY AND TOM COLLINS
Zan Ray and Tom Collins started Elevating My Business to help salon Owners, hairdressers, and small service owners decrease their expenses and increase their profit. As a former hairdresser and salon owner, Zan understands the pressure of the industry. As a former financial consultant, Tom understands the extreme importance of knowing and tracking your business numbers. Together they have over 100 years collectively in the hair industry, business coaching, project management and financial coaching. They are the go-to #powercouple that can take your business to the next level.