We’re up to Day number 5 of Salon Growth Tips, to celebrate the launch of our Salon Growth Seminar tickets!

For 7 more days, I’m sharing short tips with you to grow your business and help you to succeed!

Tip #5 – KPI’s (Key Performance Indicators) & Targets

When I was only 18 years, I seriously had no clue what I wanted to do in life.

I was at Uni at the time studying Tourism Management, and I hated it.

One day a few of my school friends suggested we all join the Navy! Why not, I thought. I get to see the world and most importantly, I didn’t have to study at Uni anymore.

There’s something about structured learning that doesn’t sit well with me. I think it’s the fact you have to go at other people’s pace.

When I want to learn something, Im all in, I totally geek out and hate having to wait or run at someone else’s speed!

Anyways, I ended up joining the Navy and the 4 other friends who came with me to the recruitment interview,….. well, they didn’t. Cheers fellas! 

Long story short, I served 8 years in the Navy and had to put in a sudden discharge because the girl I was dating at the time had ruined a beauty salon I bought for her and was using the money for all sorts of things she shouldn’t.

I HAD TO TAKE IT ON AND SAVE IT!

Day 1, I remember being so scared. I knew nothing about beauty and nothing about business. Women were coming in and asking about Brazilian waxing, and I was just standing there like ‘ugh’……!

The best decision I ever made was getting a business coach straight off the bat.

His name was Evan Kolbe, and he taught me everything I needed to know about business systemisation. Most importantly, he told me a story about Mining Tycoon –‘Twiggy Forrest’.

He told me that Twiggy famously once said that the ‘3 main ways why I succeed in business is because I’…

  1. Measure Everything
  2. Measure Everything
  3. Measure Everything

This really stuck with me. Evan helped me to create KPI’s and Targets for my Team, and most importantly, how to track them every single week to keep the Team accountable and motivated to achieving them!

This system was the foundation for all my successes that were to come in the future.

So here’s the basics for you to get started:

  1. Have KPI’s for Hourly Rate (5x pay rate), Rebooking (70%), Retail (30%), Avg. $ Sale ($120)
  2. The Manager/Owner should track these hourly… that’s right, I said HOURLY!
  3. Have worksheets that each Team Member needs to complete before they go home each day
  4. Have weekly meetings with each Team Member and run through their numbers with them. Provide positive feedback and some areas for improvement
  5. Have a perfect balance of consequence (for not achieving) and rewards (for achieving)
  6. Make sure the rewards are things that are formally documented so the Team can see them and that they are worth working hard for
  7. Keep your Team accountable and ALWAYS follow through

That’s it. We’re now 5 tips down for Salon Growth. I hope you’ve been starting to implement these in your Salon, and are now gearing up for tip number 6 tomorrow.

Be awesome!

Billy

P.S If you’re thinking about heading to one of the Salon Growth Seminar events, I’m going to send you a Testimonial a day to, to see what others are saying!

Get your tickets ASAP here: https://salongrowthseminar.com

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