Don't fear change. Fear not changing.
We often hear how people have a fear of change. They hate new things, don't want to try something new. As an entrepreneur, this is usually a motivator. Entrepreneurs embrace change. It's what being an entrepreneur is all about. What they do is they change their fear. From what I have experienced and witnessed, is that entrepreneurs hate to sit still, they fear that they will fall into mediocre. They know that if they don't change, they won't be the lead dog. Change is what let's you stand above all else.
I'm on another rant about KISS - Keep It Simple Stupid! Yesterday I implemented a simple daily chart for our our stylists at Universal. There were two main reasons. 1. Access to timely data. 2. So stylists can get a feel for how well they go.
One of the problems I see with many daily progress tracking charts is that they are too difficult to complete, take too much time or just pointless. This simple chart shows the stylist the basics, but it also shows them how they are progressing towards their bonus.
For me, it offers a wealth of information. But this will only come in time. A number by itself is pretty useless. Without comparison, it can be meaningless. e.g. "We did $1m in sales last month!" Sounds impressive as you can't compare it to anything else. But if you added "We did $1.2m the month before", it now has relevance.
And this is what this data will do. Collection of data over time to predict the future by examining the past, making changes based on what we learned to create a better outcome.
All these different points of data that we are collecting in itself can now involve its own strategy. If we want to improve, we can improve one or all.
Some theory. Ready? In this chart we are effectively tracking four things: Number of clients, number who rebooked, number of retail items sold and the hours worked. The revenue is secondary and comes from these things. If we improved one by 5% (not much), then we would improve our combined by just 5%. If we improved each thing by 5% (still not much) we would improve by 22%! Now that's worth writing home about.
The other great thing about this daily data is that I can create one number that can show how well my business is performing out of 100. Each day, everyday. But that's my little secret.
We at Universal are good at Facebook. I cannot find a hair salon in Australia which engages its audience better than us. In 12mths we have gone from less than 100 to more than 2,200. And the best part? We did it ourselves and it was dead easy.
I have been a marketer/promoter/advertiser for quite a few years and nothing beats Facebook for effectiveness, directness, engagement and cost. Everything I know about Facebook I have learnt myself. I have never read a book, listen to a lecture or spoken to a Facebook expert. I have visited a couple "Facebook expert" FB pages and what I have found is that they don't do it themselves. But you know what? There is not a hair salon in Australia that I can find that does Facebook better than us.
One of the great things about Facebook is that it has a metric called "People talking about this". It is a great way to compare pages. As I write about this, our "People talking about this" is 502 which is more than 20% of our total likes.
There is no secret to Facebook. Just engage in conversation. Listen to your audience and try a few things. See what works and what doesn't. You need to think like your audience. But also, don't sell to them, don't shout at them; engage them in something familiar or passionate about.
I am proud of how good we are at Facebook. I find it easy. But it is almost an obsession to think of the next great post. Some are terrible which you thought were great, and some are great which you thought were terrible.
Perhaps we should run a workshop on Facebook. If you're interested, let me know. If you've got any questions, let me know. I'll blog sometime about some specific things that really work. I mean, this stuff is EASY!
This week we made a big change by getting rid of the big brand range in favour of a relative unknown, higher quality, more concise range. Since we started in the salons, we have been Redken. I have several problems with the range, however, the biggest issue I have is that the range seems to be ever expanding. This photo shows only half the Redken range on the left. (Also, their brand managers should be shot for what is now a very ugly range, but that's for another time.)
On the right is Unite. Such a clean range but still has all the capabilities of Redken but only about a third of the products.
So here is why this change is so important to us. If Redken has 100 products and Unite has 33, what would happen if you sold 100 products in a month? Well, with Redken, you'd only get 1 stock turn. With Unite, you'll get 3. What does this mean? It means that your cashflow will greatly increase, you'll be able to manage your inventory much better and you will have less poor sellers. Increased cash and more stock turns can ultimately mean more growth, more freedom and more enjoyment in your business.
The moral of the story? Don't buy into brand hype, buy into a better business for you.
Why my blog?
Having spent much of my life learning from others & my experiences, it's now time for you to learn what worked and what hasn't in my businesses.