Toxins can be deadly — not only to our bodies, but also to our businesses. When was the last time you gave your business a good detox? Has it been a while? Now’s the perfect time to do it! There’s a saying that goes, “What got you here won’t get you there!” To get new results, you need to take new action! You need to implement healthy business habits, and sometimes a business detox is just what it takes to get the ball rolling.
The Business Detoxification Plan
1. Financial Detoxification:
What is keeping you from having a healthy business?
Run your annual financial reports:
• Balance Sheet
• P&L Statement
• Cash Flow
Calculate your Financial Ratios:
• Overall Revenue
• Operating Expenses
• Compensation
• Profits
Would you give your business performance an A, B, or C? Hopefully you wouldn’t give it a failing grade! The most important thing is to make a profit and to pay yourself. Do you do that? Find out what’s making money and what isn’t, and get rid of what isn’t.
Two quick ways to boost your revenue
a. Focus on Building Your Membership Business
Does your spa have a membership program? If it does, I’m sure you can teach your reception team to promote it more and get more people signed up. If you don’t have a membership program in your spa, get your hands on the Ten Steps to Creating and Launching your Membership Program CD and learn how to design the perfect membership program for your target market. Memberships are a great way to increase guest retention rate and revenue!
b. Get Serious About Retail Sales Opportunities
To improve your spa retail sales, I encourage you to implement the P.R.I.D.E. System from the Don’t Sell, “Recommend” CD. Learn how to implement methods of increasing sales through recommendation. Improve your retail sales and watch your business soar!
Tune in next time to discover even more ways to detoxify your business!
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