Below you'll find a list of all posts that have been categorized as “financial skills”
In the beauty industry, navigating business challenges is all in a day’s work. Have you ever wondered what sets top-performing spas apart from the rest? They have a trick up their sleeve – an esthetician coach. The elite spas and VIP salons, the ones setting trends and raising bars, all have a coach steering their path to success. If you’re …
[md-blog-header] We need the profit first formula now because most of us are way better at serving clients in the treatment room than we are at running our beauty business. The Profit First formula will create a positive shift in your business forever! You will look at money in a new light. Read on beauty pro! Plenty of beauty business …
[md-blog-header] If you feel like this past year had you running in circles in your beauty business, you are not alone. One of my favorite authors showed us how to get out of the survival trap and move our business forward. Best-selling author, Mike Michalowicz, was our expert speaker in the Esthetician Inner Circle membership. He discussed why many beauty …
If you have acquired more debt in your beauty business due to this year’s circumstances, you will learn how to handle the problem in this article. You must demolish your debt to become more profitable. Maybe you have a business mortgage or purchased expensive equipment earlier this year. Or you have put expenses on credit cards to get through tough …
[md-blog-header] Preparing for a sudden leave of absence is different than not being able to work due to the pandemic, even though they are both considered emergency situations. What if you need to take a sudden leave of absence from your esthetic practice due to an accident or illness? We never think anything will happen to “us” – so preparing …
[md-blog-header] We wouldn’t even think of taking profits first in our business. It’s not what we are taught! In fact, we learn the opposite in most business classes: Sales minus expenses equals profits. There is a better way to run your business! In fact, the human brain is wired for a different formula. Ready? The Profit First Formula will change …
This happens to solo estheticians or beauty business owners a lot – running their business wearing their “esthetician hat” instead of putting on an “owner” or “manager hat”. We shift our mindset when we change hats. If you have a habit of wearing your esthetician hat as you tackle other things in your business, you could run into trouble sooner …
More and more estheticians are opening a solo business and don’t necessarily want to grow a team. Because you’re doing it all – you want to maximize your time to generate as much income as you can. Being a solo practitioner gives you more flexibility. You don’t have to be on anyone’s schedule and you have greater control over how …
Many spa owners or estheticians shy away from dealing with their finances and I get it – it’s often confusing, overwhelming, and intimidating. Let’s take an honest look at your numbers and give you confidence so that small financial problems don’t turn into bigger issues. A handful of financial skills can help improve the health of your business and your …