Issue link: https://www.ascpskindeepdigital.com/i/1464744
New member benefit! Get the ASCP SkinPro app at ascpskincare.com/skinpro 51 10 Business Mistakes You're Making Grow a successful business by avoiding these common biz blunders by Crystal Ochemba-Powell 10 WAYS 1. You don't have a plan. Some professionals tend to skip this step when starting a new business. Having a thoughtful, written business plan is the foundation of any business. It helps you to strategize and have a clear direction for your business. 2. You don't charge enough. Oftentimes, a new business owner may not have the confi dence to charge what the competition is charging. Your prices should always be based on use of product, time, and experience. Undercutting yourself will never allow you to make the money you deserve. 3. You aren't niching. This seems to always be a controversial topic. It is perfectly OK to specialize and be known for one or two services. This doesn't mean you can't perform other services. But having a niche service or two helps build your reputation as an expert. 4. You're not organized. Getting organized will help you get a good pulse on the health of your business. As a business owner, you should always know important, real-time facts involving your business, including inventory numbers, sales numbers, client status, and outstanding invoices. Good organization also relieves the stress caused by feeling out of control. 5. You're trying to do it all. As small business owners, we're often expected to wear many hats, but spreading yourself too thin is the quickest way to burn out. Instead, think about tasks you can delegate and outsource so you can focus on the core priorities within your business. 6. You're not automated. Automation is the key to running a smooth business. Consider using tools to automate tasks such as online booking, appointment confi rmations, sending consultation forms and waivers, email marketing, and social media postings. 7. You're not budgeting. It is tempting to go overboard with a marketing budget or new gadgets for your spa. Having a strict monthly budget not only keeps your business afl oat during slow seasons, but also allows you to monitor where your money is being spent. 8. You're trying to grow too big, too fast. It's best to start slow and small when opening your business. Start with 1–2 professional skin care lines and a handful of services (remember to fi nd your niche!). Later, you will know what other brands and services to add by understanding the needs of your client base. 9. You don't know the health of your business. Periodically, you need to analyze your business and identify what could be costing you money. Do you have products that are not selling? Do you have services that are not booking well? Where can you make cuts in order to allocate funds to other items such as marketing or salaries? 10. You're not retaining your clients. Client retention is easier than client acquisition. Once you already have a client in the door, all you have to do is keep them coming back. Ways to execute a good client-retention strategy include rebooking at checkout, sending post-appointment emails and texts, and rewarding client loyalty.