Money

Episode 294

Some people love data! But let's be honest and say that for most hairdressers, studying the numbers in their business is not their favourite pastime.  

My Guest today is a returning Guest, Tom Bentley-Taylor, who, amongst other things, originally got the Salon Software brand Short Cuts established in the UK and is currently Managing Director at Vish in the UK. 

Tom is unashamedly a numbers guy. He loves data, but more importantly, he loves what data tells you about what's working and what isn’t working in the business.

In today’s podcast, we will discuss:

• The importance of using data in business

• What is the most important data to track in the salon business?

• How data creates clarity for business owners and fairness for their team. 

And lots more!

IN THIS EPISODE:

[1:30] Welcoming Tom Bentley-Taylor and his background in salon software

[3:05] The evolution from Shortcuts to Vish and why colour management matters

[6:55] Are salons undercharging for colour? The problem with guesswork

[8:40] How technology reveals the true cost of delivering services

[11:10] Why data creates clarity for owners and fairness for teams

[13:15] Empowering vs restricting: how stylists respond to numbers

[18:06] Mistakes owners make when introducing change

[22:45] Pricing, margin, and why protecting profit isn’t optional

[25:20] “Creative freedom” vs business responsibility

[28:10] The difference data makes to accountability

[32:40] How Vish works with existing systems

[34:02] The data that helps drive decision-making

[36:40] The mindset of high-performing salon owners

[38:55] Final advice from Tom: stop guessing and start tracking

Want MORE to help you GROW?

📚 Check out our Bestselling GROW Books https://growmysalonbusiness.com/books/

🆘 Management overwhelm!? Download our free checklist! This checklist will help you get clarity on where you're at https://growmysalonbusiness.com/management-checklist/

RATINGS + REVIEWS

🙏Thanks so much for joining me this week. If you enjoyed this episode, please leave a review. Ratings and reviews are extremely helpful and greatly appreciated!

They do matter in the rankings of the show and help other people find my podcast.

👉 Here's what you do:

– On your phone, Click here  (Read steps below first)

– Scroll down to ‘Ratings & Reviews'

– Tap on the empty purple stars and rate 5 stars

– Click on ‘Write a Review’ I love to hear what’s been helpful and what you love about the podcast! Thank you for your support! 🙏

Until next time!
Antony 

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Episode 291

One of the things that I constantly see in industry Facebook groups is how badly employees are paid, whether we’re talking about apprentices, assistants or stylists…

And that isn’t country specific, it’s a general trend of people feeling they’re hard done by to the point of being exploited…

But what I literally never see are comments about “How bad the productivity levels of the average hairdresser are.”

And obviously that's part of the problem, because what you earn is always going to be a reflection of what you produce.

Join me as I share 15 key traits that set high-earning stylists apart and discover how you can transform your income without thinking you have to go self-employed or change salons.

If you're ready to stop blaming and start earning, this episode is your roadmap to financial success in the salon industry.

RESOURCES MENTIONED IN THIS EPISODE:

Download the Guide: 15 Points for Financial Success as an employed stylist.

IN THIS EPISODE:

[00:55] Commitment to a positive outlook despite industry challenges

[01:20] Observations about compensation complaints in industry Facebook groups

[02:07] The connection between productivity and earnings in salons

[02:56] Addressing the stylist's mindset about money and compensation

[03:39] The reality of salon economics and owner struggles

[05:11] Introducing the concept: “You don't get what you want, you get who you are”

[06:01] Questions for stylists to assess their own productivity

[07:04] Celebrating successful stylists in the industry

[07:49] Introduction to “The Half Million Dollar Club” stylists

[08:46] Discussion of stylists earning $200-250K annually behind the chair

[10:15] Addressing the blame mentality and shifting to personal responsibility

[10:51] Introduction to the 15 traits of financially successful stylists

[15:47] Practical examples of what successful stylists do consistently

Want MORE to help you GROW?

📚 Check out our Bestselling GROW Books https://growmysalonbusiness.com/books/

🆘Management overwhelm!? Download our free checklist! This checklist will help you get clarity on where you're at https://growmysalonbusiness.com/management-checklist/

RATINGS + REVIEWS

🙏Thanks so much for joining me this week. If you enjoyed this episode, please leave a review. Ratings and reviews are extremely helpful and greatly appreciated!

They do matter in the rankings of the show and help other people find my podcast.

👉 Here's what you do:

– On your phone, Click here (Read steps below first)

– Scroll down to ‘Ratings & Reviews'

– Tap on the empty purple stars and rate 5 stars

– Click on ‘Write a Review’ I love to hear what’s been helpful and what you love about the podcast! Thank you for your support! 🙏

Until next time!
Antony

👉 FOLLOW US!

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Episode 283

In this episode of the Grow My Salon Business Podcast, I address a common question from salon owners about the distinction between business profit and the owner's wage.

We’ll cover why salon owners should receive both a wage and a return on their investment.

Drawing an analogy with other investments, I explain the importance of separating these two income streams and discuss various ways that salon profits should be allocated within the business.

IN THIS EPISODE:

[01:15] Listener question: Why are the Salon profit and owner's wages two separate things?

[02:00] Investment and profit explained

[03:09] Analogy of the stock market vs salon business

[05:56] Discussing investor vs employee earnings

[06:32] Explaining the salon owner's investment and profit

[08:50] The different uses of business profit

[10:46] Conclusion and course reminder

Want MORE to help you GROW?

📚 Check out our Bestselling GROW Books https://growmysalonbusiness.com/books/

🆘Management overwhelm!? Download our free checklist! This checklist will help you get clarity on where you're at https://growmysalonbusiness.com/management-checklist/

RATINGS + REVIEWS

🙏Thanks so much for joining me this week. If you enjoyed this episode, please leave a review. Ratings and reviews are extremely helpful and greatly appreciated!

They do matter in the rankings of the show and help other people find my podcast.

👉 Here's what you do:

– On your phone, Click here  (Read steps below first)

– Scroll down to ‘Ratings & Reviews'

– Tap on the empty purple stars and rate 5 stars

– Click on ‘Write a Review’ I love to hear what’s been helpful and what you love about the podcast! Thank you for your support! 🙏

Until next time!
Antony

RESOURCES MENTIONED IN THIS EPISODE:

The Financially Savvy Salon Owner – Free Masterclass – Save your seat!

The online Money Course – Enrolment is open!

👉 FOLLOW US!

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Episode 278

Being in business isn’t easy in fact, “Being in business is hard, and it’s not about to get easy, so stop waiting for it to!”

Having said that, being in business brings with it opportunities for personal and professional growth, a sense of control and opportunities for financial gain as well as the flip side of financial gain, which is obviously ‘financial loss’. 

And it's the financial side of running a business, which is typically the weak spot for salon owners everywhere, so in today's short podcast, I talk about the five key areas you have to get on top of when it comes to creating a financially successful business.    

IN THIS EPISODE:

00:40 The Challenges and opportunities of running a business

01:53 Why some businesses succeed and others fail

04:06 The importance of financial management

06:09 Five key steps to financial success

09:05 How we help salon owners gain clarity and confidence in handling their business finances.

Want MORE to help you GROW?

📚 Check out our Bestselling GROW Books https://growmysalonbusiness.com/books/

🆘Management overwhelm!? Download our free checklist! This checklist will help you get clarity on where you're at https://growmysalonbusiness.com/management-checklist/

RATINGS + REVIEWS

🙏Thanks so much for joining me this week. If you enjoyed this episode, please leave a review. Ratings and reviews are extremely helpful and greatly appreciated!

They do matter in the rankings of the show and help other people find my podcast.

👉 Here's what you do:

– On your phone, Click here  (Read steps below first)

– Scroll down to ‘Ratings & Reviews'

– Tap on the empty purple stars and rate 5 stars

– Click on ‘Write a Review’ I love to hear what’s been helpful and what you love about the podcast! Thank you for your support! 🙏

Until next time!
Antony

RESOURCES MENTIONED IN THIS EPISODE:

Join the waitlist for our upcoming Online Money Course https://growmysalonbusiness.com/courses/money

👉 FOLLOW US!

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Episode 273

Every salon owner wants their business to grow, but many never break down that desire for growth into a tangible action plan for how to bring that real growth about.

Growth begins with first defining ambitious but achievable growth targets, identifying who and where the potential for growth will come from and then ensuring that your team has the resources needed to deliver on the goal.

In today’s episode, I talk you through a real example of how one salon owner increased her salon’s annual revenue by $100,000 so that she could pay cash for a new BMW just through an increase in salon hair treatments.

IN THIS EPISODE:

[00:57] The Importance of growth in your salon business

[02:05] Setting realistic growth goals

[03:49] Identifying growth opportunities

[04:42] Creating a strategy for predictable growth

[05:37] Breaking down the numbers

[07:01] Overcoming challenges to achieve growth

[09:48] Recap and final thoughts

[13:06] Additional resources

Want MORE to help you GROW?

📚Check out our Bestselling GROW Books https://growmysalonbusiness.com/books

🆘Management overwhelm!? Download our free checklist! This checklist will help you get clarity on where you're at https://growmysalonbusiness.com/management-checklist/

RATINGS + REVIEWS

🙏Thanks so much for joining me this week. If you enjoyed this episode, please leave a review. Ratings and reviews are extremely helpful and greatly appreciated!

They do matter in the rankings of the show and help other people find my podcast.

👉 Here's what you do:

– On your phone, Click here  (Read steps below first)

– Scroll down to ‘Ratings & Reviews'

– Tap on the empty purple stars and rate 5 stars

– Click on ‘Write a Review’ I love to hear what’s been helpful and what you love about the podcast! Thank you for your support! 🙏

Until next time!
Antony

RESOURCES MENTIONED IN THIS EPISODE:

Grow Book Series

Online Courses

1 to 1 Coaching

👉 FOLLOW US!

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Episode 267

What does it take to produce half a million dollars a year behind the chair? 

Turns out it’s not being a celebrity stylist, or a fashion week back stage superstar stylist or having a huge social media following. 

Instead, it’s about stability, relationships, giving clients a great experience, word-of-mouth referrals, being organised, being goal-oriented, looking after yourself, consistency, flexibility, listening, hard work, making genuine connections, and genuinely being a nice person. 

Today is another episode where I am talking to a hairstylist who you may not have heard of before.

But amongst other things, what makes her so special is that she produces very high revenue figures behind the chair… 

And I want to find out what it takes to do that. 

My guest on today's Podcast is Maxwell Snow from the Van Michael salons in Atlanta, Maxwell is one of those hairstylists who produces around half a million dollars a year behind the chair…

In today’s podcast, we will discuss:

• What’s the key is to doing extraordinary numbers behind the chair…
• The benefits of working a four-day week 
• Finding balance

And lots more!

IN THIS EPISODE:

[00:49] Meet Maxwell Snow: High-earning hairstylist 

[02:53] Discussing Maxwell's revenue and earnings breakdown

[04:45] Maxwell’s work ethic and clientele

[08:43] Daily routine and work schedule

[10:39] Maxwell’s specialisation and services

[15:59] Motivation, personal drive and overcoming challenges

[22:11] Embracing life after a near-death experience

[23:59] The importance of authenticity and hard work

[25:43] Balancing work and personal life

[27:39] Upselling and rebooking strategies

[36:33] Lessons learned and advice for newcomers

[42:59] Final thoughts and social media presence

RATINGS + REVIEWS

🙏Thanks so much for joining me this week. If you enjoyed this episode, please leave a review. Ratings and reviews are extremely helpful and greatly appreciated!

They do matter in the rankings of the show and help other people find my podcast.

👉 Here's what you do:

– On your phone,  Click here (Read steps below first)

– Scroll down to ‘Ratings & Reviews'

– Tap on the empty purple stars and rate 5 stars

– Click on ‘Write a Review’ I love to hear what’s been helpful and what you love about the podcast! Thank you for your support! 🙏

Until next time!
Antony

RESOURCES MENTIONED IN THIS EPISODE:

The Key to Six-Figure Salon Success with Brandon Darragh 

What Does it Take to do Over Half a Million Dollars a Year Behind the Chair? with Denise Deering 

From Small City to Big Sales: Jyl Craven's Path to $600,000 

👉 FOLLOW US!

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👉 FOLLOW MAXWELL!

Instagram

Episode 258

Episode 255

Should you mix salon ownership with coaching, teaching, podcasting, session work, course creating etc?

These are all things that I have done or are currently doing… And they all provide reward, both in terms of personal fulfilment and the potential for financial gain.

And they are right for some people, and definitely not right for others.

In this week’s episode we look at the numerous opportunities that salon owners might consider pursuing and ask the question: are they a distraction or a benefit to building a salon business?

In this Episode:

01:57 Exploring the side hustle of coaching and education etc for a second stream of income

03:51 Antony’s career journey and how that led to growmysalonbusiness.com

05:14 Balancing salon ownership and side hustles

06:35 The realities of being a traveling educator

13:30 The challenges of coaching and education in the hair and beauty industry

15:00 The glamour and hard work of salon ownership

20:41 Final thoughts and resources

Thanks so much for joining me this week. If you enjoyed this episode, please leave a review. Ratings and reviews are extremely helpful and greatly appreciated!

They do matter in the rankings of the show and help other people find my podcast.

I also love to hear what’s been helpful and what you love about the podcast! Just click here to review, scroll to the bottom, tap “Ratings and Reviews” tap to rate with 5 stars and “Write a Review” and let me know what your favourite part of the podcast is. Thank you for your support!

Until next time!

Antony

Links and Resources:

Grow My Salon Business

Website | Facebook | Instagram

Money Course

Episode 248

One of the ways we learn in life is by making mistakes.

But the problem is that the mistakes you make in business have a financial impact.

Sometimes, that impact is small, but other times, mistakes have a big impact on the profitability of your business.

So, as much as possible, although making the occasional mistake is inevitable, you need to learn from them quickly so that you reduce the chance it will happen again.

In today's episode, I'll discuss 9 ‘financial management' mistakes that many salon owners make every single day, and they pay the price as a result.

In this Episode:

[00:10] Learning from Mistakes: The Bike Analogy

[01:39] Financial Management Mistakes in Salons

[02:20] Mistake 1: Inadequate Pricing Strategy

[03:00] Mistake 2: Poor Cash Flow Management

[03:50] Mistake 3: Underestimating Operating Costs

[04:29] Mistake 4: Inefficient Expense Tracking

[05:19] Mistake 5: Not Understanding Profit and Loss

[06:32] Mistake 6: Poor Debt Management

[07:10] Mistake 7: Lack of a Salon Budget

[09:24] Mistake 8: Ignoring Financial KPIs

[10:20] Mistake 9: Over Staffing

Thanks so much for joining me this week. If you enjoyed this episode, please leave a review. Ratings and reviews are extremely helpful and greatly appreciated!

They do matter in the rankings of the show and help other people find my podcast.

I also love to hear what’s been helpful and what you love about the podcast! Just click here to review, scroll to the bottom, tap “Ratings and Reviews” tap to rate with 5 stars and “Write a Review” and let me know what your favourite part of the podcast is. Thank you for your support!

Until next time!

Antony

Links and Resources:

Grow My Salon Business

Website | Facebook | Instagram

Money – The online course

Episode 245

What’s your number?

There is one number that we don’t talk about enough in this industry and that is probably because although it sounds simple to understand, it isn’t always easy to work it out. 

So what’s the number I’m talking about?

It’s the number that represents the amount of revenue you need to generate each week to keep the doors open and keep the lights on.

And that number is referred to as your breakeven point… Or breakeven number.

In this episode I discuss why knowing the breakeven number is essential for every salon owner to ensure that you’re running a profitable business. 

In this Episode:

[01:07] The one number that we don't talk about enough in this industry

[03:04] Typical errors salon owners make when estimating their breakeven point.

[07:32] Positive note: How knowing your breakeven number can guide better financial decisions.

[10:53] The formula for calculating the breakeven point

[12:04] Wrap-up: Where to find more information and links to resources.

Thanks so much for joining me this week. If you enjoyed this episode, please leave a review. Ratings and reviews are extremely helpful and greatly appreciated! 

They do matter in the rankings of the show and help other people find my podcast. 

I also love to hear what’s been helpful and what you love about the podcast! Just click here to review, scroll to the bottom, tap “Ratings and Reviews” tap to rate with 5 stars and “Write a Review” and let me know what your favourite part of the podcast is. Thank you for your support!

Until next time!

Antony

Links and Resources:

Grow My Salon Business 

Website | Facebook | Instagram

Join the Money Course Waitlist!

FREE Masterclass – ‘The Financially Savvy Salon Owner'

Register here to save your seat 

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