You Don't Own a Salon. You Own A Business.
In his latest blog, Leon Alexander Ph.D., challenges industry conventional thinking to help owners add more to their bottom lines.
Finding the ‘It’ Factor
The further you reside on the side of extraordinary, the brighter your “it”—what makes your business special—will shine, setting you apart from the competition.
by Web Editor
July 10, 20113 min to read
By Neil Ducoff
The most coveted quest in business is to reach and surpass the tipping point that separates the ordinary from the extraordinary. The further you reside on the side of extraordinary, the brighter your “it”—what makes your business special—will shine, setting you apart from the competition.
Achieving your “it” signifies the successful pursuit of something special. Achieving “it” pushes that entrepreneurial button that ignites passion, innovation and determination. “It” is financially and emotionally rewarding. But beware: Your “it” can evaporate in a heartbeat.
You can have the greatest product or service, yet still never achieve your “it” if you can’t lead, manage, control and deliver with superb execution. And if you’re not willing to take risks, your great product or service may never move beyond concept.
Leadership: Leaders push, inspire and nurture the creation and continued vitality and evolution of the company’s “it.” Your precious “it” must be protected at all cost.
You must do what others dare not. As W. Chan Kim and Renée Mauborgne explained in their book, Blue Ocean Strategy, Cirque du Soleil reinvented the circus. They eliminated the animal acts (and therefore the huge expense of transporting, feeding and caring), the three rings and costly star performers. Cirque combines the fun and thrill of the circus with the intellectual sophistication and artistic richness of the theater. Cirque kept the clowns, the tent and the acrobats, but changed the look and feel.
The tent, more than any other feature, makes a circus special. By glamorizing the tent—giving it a grand external finish and comfortable seating—Cirque put a unique spin on a familiar form of entertainment.
Redefine price and value: Because you are redefining your offerings, the price and value of your “it” is no longer relevant to that of the competition. Rather than going after the family market, Cirque du Soleil created a new market among adults seeking more intellectually unique entertainment—adults who are willing to pay for the Cirque experience.
This is not to say that the “it” always commands a higher price; it simply means that your business stands out from the crowd. A salesperson can demonstrate this in the way he or she caters to the needs of customers.
Apple did it with the iPod and again with the iPhone. FedEx did it with overnight delivery. Seattle’s Pike Place Fish Market did it with entertaining antics to attract attention.
Discover your “it.” Find your own piece of uncontested market space. “It” can be as simple as adding value to what you already do. “It” can be as basic as delivering on the promise to be the very best you can be.
Neil Ducoff is the founder and CEO of Strategies, a business training and coaching company specializing in the salon and spa industry. During his 38 years as a business trainer, coach, keynote speaker and author, Ducoff gained respect as the guru of team-based compensation. Ducoff is the author of Fast Forward, the definitive business resource book for salons and spas. Ducoff’s new book, No-Compromise Leadership, is published by DC Press and is available at www.amazon.com. For a signed copy, go to www.strategies.com. You can e-mail Neil at neil@strategies.com.
Subscribe to Our Newsletter
More Salon Management
Are Your Stylists Doing Free Hair on Your Time? Introducing the 'Win-Win' Staff Services Playbook
In her latest blog, Amy Pal helps you develop your own clear guidelines around complimentary free employee services.
Caring for Your Caregivers at the Front Desk
From managing air traffic on busy days to handling frustrated guests' complaints, your front desk team often serves as the salon's emotional shock absorber. From a customer service lesson from the DMV to a list of strategies for caring for your front line, our experts offer ideas for alleviating stress, celebrating wins, and setting goals.
by Stacey Soble
What's Really Happening with Salon Retail and How to Reclaim Your Revenue
According to the KIM Report, top-line salon revenue appears steady or slightly up, but that growth is driven primarily by service price increases. Beneath the surface, retail performance and client visit frequency (appointment drift) are under real pressure. In his latest blog, Alain Audet offers strategies for keeping your salon's retail sales strong.
Trimming Your Tax Bill by Putting Family on the Payroll
Putting your family to work in the salon offers some real tax benefits, but you have you have to play by the rules of the tax code to claim them. Azarvand Tax Law's Leticia Skrabut, Esq., shows you how.
The Art of the WOW Experience
Discover how to create a true “WOW experience” for every client by first building a culture where your team feels engaged, empowered, and inspired. Drawing on Calvin Stovall’s Iconic Framework, this blog explores how salon, spa, and clinic leaders can strengthen culture, elevate customer experience, and build a business that stands out for the long term.
Sponsored by Phorest Salon Software
Why Wellness Belongs on Your Salon's Growth Plan
The wellness industry is growing fast, and salons and barbershops already are an important part of it. In her first blog, Tracy Rado shares where the wellness dollars are heading, and how salons can grow with this movement.
Why Your Revenue Looks Good But Your Business Feels Stressed and What to Do About It
While salon sales are increasing, owners often feel they're working harder for the same or less profit. Leverage Q2 data from The KIM Report, Alain Audet reveals some of the structural changes that are dampening your growth and why your region and your salon size matters.
Why Your Holiday Season is Won in September
Weaknesses in your business are amplified during the Holiday Season. Spark Pro Global's Lucy Randall shows you five things to do now to have the strongest holiday season yet.
Appearance Standards are the New Dress Code
In Kati Whitledge's latest blog, she shares how salons have moved away from dress codes and embraced appearance standards. But by removing strict dress codes, some businesses may have unintentionally lowered their appearance standards. Whitledge helps you explain to your team why an appearance standard is important and how to smoothly implement a new appearance policy.
Working Through the Gray Areas of the Small Business Health Care Tax Credit
The Small Business Health Care Tax Credit is a non-refundable tax credit for for-profit businesses that provides a financial incentive for eligible employers who offer health insurance coverage to their employees. Leticia Skrabut, Esq., walks you through how to claim that credit.
5 Things Every New Stylist Should Learn Early
Developing strong work habits early in one's career supports long-term success in the salon industry. Jesse Linares offers new stylists his top five tips.
The Four Numbers Every Salon Owner Should Know
Most salon owners have no idea what these numbers are. You can hit record sales and still have a profit problem. The difference comes down to four numbers almost nobody was taught to track.
Sponsored by Strata Salon Systems™
Your Salon Can't Survive Without You. That's the Problem.
A five-area audit every owner-dependent salon needs to run. You built something that looks successful. Now find out if it can survive without you.
Sponsored by Strata Salon Systems™
Waiting for the Right Time Is a Decision. Here's What It's Costing You.
Every month you put off fixing the problem, it gets bigger, more expensive, and harder to solve.
Sponsored by Strata Salon Systems™
A Partner in Business and in Life
At Janet St. Paul Studio for Hair and Beauty, Director of Operations Natasha McMillen helps bring her wife Janet St. Paul's vision to life, elevating every system from education to operations.
by Stacey Soble
Back to Business with the Pinstripe Trend
Expand your color service menu with the Pinstripe technique. Brooks and Brooks' Marlon Hawkins walks you through the technique.
by Stacey Soble