You decided to take the entrepreneurship route. Maybe at first you started by yourself, but then you realized you had to start hiring people to work with you and help you. All of the sudden, you found yourself in a place that you have never been before and without a how-to guide to manage the journey.
Managing a team is one of the most difficult aspects of running a business. We know this because most of the phone calls we receive at InSPAration Management concern team issues. One of the biggest concerns is how to get the team to be more productive. In this article, you will discover how to build a great structure to ensure you have a dream team to help increase revenue!
1. To increase revenue, your team must have GOALS!
This is probably the biggest mistake I see when I first start working with a spa or a medi spa. Normally, the team is clueless as to how much revenue they need to generate on a monthly basis for services and retail. Frequently, they don’t even know how much revenue they can generate for themselves from working at your spa and or medi spa. If you want to increase revenue, you need to set Goals and let the entire team be aware of them.
The best way to set goals is to look at last year’s monthly performance and increase it by the percentage of growth you would like your business to grow. Set new targets and share them with your team.
2. To increase revenue, you must have KPIs
Increasing revenue is not just about service and retail revenue, it’s about key performances the team has to practice and deliver. We call them Key Performance Indicators.
What are they? They are key factors to monitor to ensure your overall success.
Some of your KPIs could be:
- Number of referrals you want the team to generate on a monthly basis
- Retention rate
- Cross marketing efforts
- Membership sales
- Attendance record, etc.
KPIs need to be clear with specific targets for your team to achieve.