||Understanding your numbers — and how to manage them — is a mandatory skill for all salon/spa owners and managers. Trusting your intuition, or luck, to manage cash and hope that profit appears is recipe for disaster. Fact: All businesses are numbers-driven. And if you’re not paying attention to your financial reports, you’re driving your business financially blind.
Now, if you’re a proud member of the “I’m not a numbers person” club, you’re going to love this course. Strategies specifically built this course to make learning salon/spa numbers easy, fun and impactful. In just two days, Strategies’ educators will help you overcome your financial management stumbling blocks, and put you on your way to double-digit bottom line growth.
Financial Freedom will teach you the skills and techniques to ensure your salon/spa is financially sound. You’ll learn how to harness the power of what your financial reports tell you about the performance of your business. And you’ll learn how easy and critical it is to predict your financial success by constructing your own cash-flow projection.
No salon or spa owner goes into business with the intention of never drawing a paycheck, being unable to consistently meet payroll, or falling behind on taxes, rent or other obligations. But it happens everyday because they weren’t watching and managing their numbers.
Day One: Understanding and "demystifying" the three financial statements
Day Two: Analyzing your company's actual financial statements (hands-on exercise)
• The Official “Salon/Spa Owner’s Non-Baffling Explanation” of ALL THREE financial reports
•Why “Profit” is NOT “Cash” and how that fact impacts your financial reality
•How to create “value” to your business and what that looks like on all three financial reports
• Gift Card dependency: How it happens, how to get out of it — how to avoid it
• In-class exercise: Create a 3-month Cash-Flow Projection — how to use it, tweak it and live it every day
• Why your Cash-Flow Projection is your new boss
• How to build a cash reserve
• How to work efficiently with your accountant