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BUSINESS HOW TO GO FROM THERAPIST TO CEO By Jessica Kidner 70 Beauty Biz Year 14 Issue 1
Without a doubt, the number one question I get in my inbox is “How do I make the jump from therapist to CEO? ” After a little bit of probing I usually find out what they are really asking is “How do I reduce my hours so I have more freedom and still earn an income? ” Many of us go into business for ourselves because we see the potential to make more money and the sound of being our own boss is freeing. However, soon enough we find ourselves stuck in the rut of being at the mercy of our clients, working extra hours just to make them happy and burning out managing every little task it takes to run a business. Let’s not forget all the time we spend on social media trying to build an online presence to ensure we have some sort of marketing platform. Your dream of working for yourself can quickly turn into a full-time job with no benefits. There comes a time when you realise your business has a lot of potential and you start to dream of ways you can grow it. However, the fear of stepping into the role of a CEO scares most people. Trying to figure out where to start or being afraid of making a wrong move can paralyse even the most confident business owner. It would be easy if there was a step-by-step formula showing you how to grow before you make any moves, but I think the magic happens when you start making mindset shifts and find the courage to make those bold changes inside your business. So, how do you start growing a service-based business which relies on you, to run more like your dream business. A business where you become the leader and start building an asset with a stream of income. The answer is building a team of staff. With a service-based business you need someone to perform a service and if you are doing all the clients yourself, you only have a fixed amount of hours that you can give. To increase the amount of hours available we need more of you. Employing staff is the only way to still service your clients and reduce your time away from the physical part of your business. This will also allow you time to build the business from the inside, provide more flexibility in your day whilst still earning an income. The idea of passing your clients on to other people might scare you to your core - after all you have worked so hard to build those clients. Handing even one person over to a staff member seems impossible. To add insult to injury your clients tell you “I won’t go to someone else” and we tell ourselves “no one can do it as good as me”. These are what I call limiting beliefs, they are holding you and many other people back from growing in the beauty business. They hold you back from growing your income and stop you from having freedom to do the other things you want in life. If you are done with the burn out and being tied to your business then it’s time to start to move the needle towards growing your business into something that works for you not the other way around. Any good business expert will tell you systems and procedures are the keys to freedom and growing your business but there are also a few other key areas to focus on before you get to that point. 5 KEY AREAS TO FOCUS ON RIGHT NOW MAP OUT YOUR PLAN You can’t plan for the next stage unless you know where you want to go and what you want for your life and your business. Once you know the destination you can work backwards to plan out the path. This doesn’t mean you must stick to this plan; once you start making moves towards your dream some things may not feel right or fit with your idea. This is ok, you can adapt and change along the way! In fact I believe you need to start moving towards an idea before it really becomes clear what you actually want. Don’t be afraid to dream big. Start with how you want to spend most of your days. Do you want to get up early and focus on self-care.How many hours a day do you want to work? What kind of tasks do you love doing? What do you want to learn? What kind of income do you want? Are you going to be traveling or would you prefer to to stay home with your kids while they get ready for school. Knowing these things will help you work out how your business needs to run around you. Then it opens the path to what your role will be inside the business going forward. You will start to see what moves you need to make now and over the next 12 months to move you closer. MINDSET Your Mindset is really a continuous journey to level up ‘you’ at every stage of business and life. Your mindset can hold your back from greatness. A growth mindset is one that continually looks for opportunity to grow and learn from experiences. You need to understand that you are the only one that can drive your business forward by making CEO decisions - even just small ones move you in the right direction. Working with a coach, reading books on how to develop self belief and trust in your decisions will help you on your journey. I found this one of the keys to success with managing staff and understanding how I needed to support the team. MARGINS Look at your profit margins and pricing now before you start hiring. When you grow a business you will also amplify anything that loses you money or costs you time. Setting yourself up for success starts with looking at your numbers. You need to understand what your expenses are, what staff will cost and what profit you need left over. Many times people hire staff and then realise they’re not charging enough to cover the wages let alone the costs of actually opening the doors. Sit down with a spreadsheet and keep track of every expense you have in your business over the next 3 months to find what it really costs to keep your doors open and then start to work out how much per hour you need to be making to achieve a healthy profit. MENTOR Now you have perfected your skill, it’s time to step into the role of mentoring your staff. I believe any good beauty business needs to have a mentoring program for all new staff. Even when you hire the most experienced therapist or tech you will need an induction process into YOUR business. Moving you from business owner to mentor. Your staff will elevate your brand and your service. This also ties in with mindset and how you view your role inside the business. Too many times I see business owners get frustrated with having to “train staff” after they hire them. I see this as a fact of business and an investment into your future. You need staff to work for you and they need training. Removing this negative view on hiring will allow for more freedom and give you peace of mind that your clients will be looked after just the way you want. MARKETING Once you have your services perfected, marketing your business is going to be your main focus. This is a task that, once set up, can run pretty automatically with a few tweaks and adjustments every month. Being the CEO of your beauty business means shifting your focus from doing the service to telling people about your business. You will set up processes and systems to ensure your business has a consistent flow of new and returning customers. I have developed my own system which I used to grow and maintain my own multiple 6- figure business which I ran from home. Understand that growing a business relies on a few key areas - average client spend, returning clients and new clients. Setting up a strong customer journey which starts the moment they see your business until after they leave is the key to reducing costs of advertising and growing the returning rate of your customers on autopilot. Jessica Kidner is a retired salon owner & business coach Helping beauty salon owners make the transition into the CEO. Founder of jessicakidner.net Instagram @jessica_kidner_beautyceo Beauty Biz Year 14 Issue 1 71
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THE ABIA CATEGORIES EDUCATOR CATEGO
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