Explore " retail selling" with insightful episodes like "Back To School Amazon Sales HYPE", "Quitting CPA & $100K/Mo Online Arbitrage", "E46 B2C Interview w:- Kelly Kent, Owner of Cranium Hair", "E45 B2C Interview w/ Emiliano Vitale Owner E Salon" and "E44 B2C Interview w:- John Cook - Owner of Stylz Hairdesigners" from podcasts like ""Buy Box Bandits", "Buy Box Bandits", "GET TO YES by Listening, Not Telling with Neil Osborne | Selling in the Hair, Beauty and Body Industries", "GET TO YES by Listening, Not Telling with Neil Osborne | Selling in the Hair, Beauty and Body Industries" and "GET TO YES by Listening, Not Telling with Neil Osborne | Selling in the Hair, Beauty and Body Industries"" and more!
E46: B2C Interview w/- Kelly Kent, Owner of Cranium Hair
This Clinic Growth Sprints guest interview is with a very astute salon owner, Kelly Kent, the founder and owner of Cranium Hair – a multi award winning salon in Manly, on Sydney’s Northern Beaches. Kelly confesses that while she never focused on dollars, she has always focused on the important KPIs and performance markers which allowed her to grow and improve her client servicing skills.
Kelly openly discusses the different phases she’s moved through, since opening her own salon in 1997. Cranium has been profitable from day one and that was due to her early understandings of the percentages required to run a profitable business. As Kelly states, she was never strong at maths, however once the money started coming out of her back pocket, it really made her change her approach.
She also shares how she went from a highly profitable salon to a period where she lost focus – resulting in money being wasted and her percentages drifting. She also talks with Neil about how she expanded into beauty and then realised it didn’t work – so she quickly withdrew. An amazing learning experience.
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This Clinic Growth Sprints guest interview is with an internationally recognised and awarded Hairdresser, Businessman and Owner of e-Salon, Emiliano Vitale. During the conversation, they re-visit the early days of Emiliano’s his first salon at the age of 22, in Double Bay, Sydney. He clearly remembers the days there wasn’t any money left for him and openly shares his learnings from that difficult time.
Emiliano’s enjoyed a hugely successful career and is widely admired and respected for his deep belief in having high ethics, morals and purpose in his work – all of which he inherited from his father, Samuel. His key piece of advice to his younger self is “to focus on what you’re good at” and during the chat with Neil, he also reflects on a saying he’s very fond of, which is “do more than what you’re paid for.”
In this episode you’ll learn
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This Clinic Growth Sprints guest interview is with John Cook, owner of the extraordinarily successful Stylz Hairdesigners chain of salons, and it’s a short masterclass in running your business. It’s also an insight into the once-in a lifetime business opportunities that are available, if you know where to look.
Neil and John cover the importance of running your business with a clear understanding of what it costs to operate your business and knowing what’s lefts over. John also stresses the necessity of running your business at a profit (that is, if you want to stay in business).
John has multiple salons across Westfield Shopping Centres, and he openly shares his approach to managing the ever-increasing rents of large centres. His knowledge, wisdom and advice are priceless.
The conversation concludes with John highlighting a unique once in a lifetime opportunity – where you can start a salon with close to zero entry costs.
In this episode you’ll learn
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Our Clinic Growth Sprints series of episodes takes a new direction, with Neil inviting accomplished industry personalities to the microphone, and asking them a simple question: “If you were starting out as a Salon Owner today, what business and financial advice would you give your younger self?”
In the first of these new interviews, we’re delighted to have Dennis Langford, Managing Director of Tony & Guy Australia, as our guest, and to share some of his time and wisdom.
Dennis and Neil initially share their memories of the industry and revisit the start of Tony & Guy in Australia. Then, Dennis openly shares some of his learnings along the journey and how he got through both the good and bad times. Of particular interest is understanding how he came to grips with the financial side of the Tony & Guy business.
In this episode you’ll learn:
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A thought-provoking episode where Neil’s guest, Marcus Kroek, talks about creating business profits. Marcus is an accomplished business owner and business coach at Amazing Tradies, who shares his experiences and learnings about understanding the differences between turnover and profit.
Neil and Marcus discuss some of the limiting behaviours around creating profit, and how stress reduces both your creativity and general business energy. They also discuss an alternative approach – of setting up systems around your areas of stress, to help inspire the return of your creativity and energy. And how this can then help produce the quality services that you’re known for.
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An interesting episode where Neil’s guest, Sarah Garner, discusses how to make a clear profit in a small industry-based bushiness. Sarah is the founder of a branding agency, Digital Bloom, where she needed to upskill in the way she handled the cash flow of her business.
The Profit FirstⓇ cash management system assisted Sarah to establish several bank accounts, that allowed her to manage the cashflow and the allocation of her funds to different areas. This simplistic system helps Sarah fund growth and establish a team in her business. Today, she runs her business with five foundation accounts.
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This episode takes us on a journey of building a global Skincare brand, Cor Silver.
Jennifer McKinley with Neil discusses some of the difficulties in growing an international skin care brand.
Jennifer’s journey started with a MBA degree from Yale university, thinking that would set her in good stead off she set to grow a skin care brand. In doing so she chased top-line sales growth and managed to secure many prestigious stockists around the world.
Only to discover that at the end of the month after paying her team and other costs there wasn’t the profit she had hoped for.
At a point of shear frustration Jennifer discovered the Profit First system which allowed her to restructure her finances. This opportunity also forced her to review the brands profitability and as a result she withdrew the brand from Russa and Japan.
Today with refined distribution plan Jennifer has a profitable business that allows her a lifestyle. This sis a truly inspirational story that all business owners need to hear.
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Again, we’re joined by Richard Barram from the Barram Property Group – our resident expert on lease negotiations. This episode covers the key points to cover when renegotiating your lease, to ensure that it positively contributes to your business stability. We also explore the avenues available to reduce some of the costs associated with your lease.
It’s fair to say that Richard’s work starts from the premise that the leasing market has changed. And that means that perhaps you also need to change the way you think about your lease. He covers important ideas like: if your lease is coming up for renewal, are you better off having your lease viewed as a sitting tenant, or is there an advantage in renegotiating as if you were a new tenant? Richard shares a view that may end up delivering substantial savings to you and your business, so don’t miss his suggestions.
Two of the key messages throughout all Richard’s interviews are the steps you can take to increase your value to your landlord, and that everything is negotiable.
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Neil’s guest is Craig Minter, a CPA Accountant with 20+ years’ experience working with businesses across the world who turn over AU$50,000 – $200,000,000. Craig is also a Certified Profit First Professional and ‘Fix This Next’ Advisor. His firm, Mints CD Consulting, is one of a select few Australia-wide, that’s trained in both of Mike Michalowicz’s methodologies – Profit First and Fix This Next.
This episode will really get your thinking. Craig has a strong focus on cashflow – the number one issue facing most small businesses – and using the Profit FirstⓇ methodology to project that cashflow into the future, so you have peace of mind about what’s lies ahead. His approach is simple yet effective, to start your path toward profit transformation. As he moves through the steps, Craig expands on how human behaviours can get in the way of transformation… which is a little deep, but though provoking.
The conversation then moves to ways you can feel safe with your financial situation and in doing so, your mind moves on to tackle other challenges. Craig explains how he’s observed his clients experience amazing growth, once they’ve sorted their financial concerns.
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This episode unpacks some initial steps you can take to help manage your business cash flow. Some people say that cash-flow is uninspiring but Profit First® takes an approach that removes the high-emotion aspects of managing your business cash flow and replaces them with behavioural rewards that keep you interested.
Neil’s again joined by his guest, Laura Elkaslassy – a certified Profit First™ Professional. Laura’s passion for business profitability is frequently felt throughout the episode, as she offers advice on a different structure for your bank accounts. By following Laura’s advice, you’ll remove the emotional roller-coaster ride around managing the ups and downs of your cash flow.
Neil concludes with a simple starting point to help reduce your stress and move to having greater clarity around the financial side of your business.
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Neil’s guest, Katie Crismale-Marshal, is author of the book “Profit First for Tradies”. She is also a Certified Profit First Professional, a Bookkeeper and Small Business Strategist. On the surface, tradespeople and beauty/hair industry professionals seem vastly different, however Neil and Katie discuss how similar they really are... because the concepts of running a business are the same for everyone.
Katie and Neil also chat about the foundational principles of the Profit First® system – particularly Katie’s view of cash management – and she suggests an easy starting point for us all to adopt. She suggests that your financials are the foundations of your business, and if you don’t get them under control… then nothing else matters and at some point, in the future, you’ll probably go broke.
Another area they touch on, is that ‘volume’ is not always the solution to your financial challenges.
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Your commercial lease is a vital part of your clinic’s success because it directly influences your profitability. Neil’s joined by his guest, Richard Barram, in this episode and they discuss how many of the variable costs built into your lease preparation are negotiable – yes that’s right, negotiable.
Richard’s the founder and owner of Barram Property Group, and he’s worked in Commercial Property for over 20yrs across Australia and New Zealand. He dives into discussing the costs that can be negotiated and more importantly how to negotiate them, at the commencement of renewing your lease. The key to success, he believes, is to explore those costs from your landlord’s point-of-view.
Generally, as tenants, we look at our rent on a weekly or a monthly basis. However, landlords look at your tenancy over a 3-to-5-year basis, which dramatically changes the guidelines for negotiation – as does our value to them, as a tenant. Find out more keys to successful negotiation in this not to miss episode.
In this episode you’ll learn about the hidden costs when renegotiating your clinic lease
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Neil’s joined by his guest, Stuart Donaldson, for an episode focused on how to build cash reserves. Those reserves will help your clinic survive the income ups and downs that all businesses experience. It all starts with having plans in place to help sustain your business – one alternative is building a ‘cash runway’ for your clinic.
Stuart’s the founder and owner of Banyan Co, and he’s an experienced banking and finance executive, educator, business coach and financial advocate for owners of small to medium enterprises (SMEs). He discusses various strategies to shore-up your businesses’ profitability. Both external and internal factors can assist you in achieving greater profitability, so Stuart and Neil discuss the various long-term keys to business profitability, effectiveness and productivity.
Stuart’s insights can help you become financially savvy and progressive, so don’t miss this episode to help set up your business for greater growth and profits
In this episode you’ll learn:
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If you want to learn some simple financial steps you can take to secure the future of your clinic, this episode is a great place to start. Neil’s joined by his guest, Laura Elkaslassy, who’s a certified Profit First™ Professional who’s amazingly skilled at keeping financial conversations real, and easy to understand.
Laura’s passion for profitability, has helped numerous owners to build sustainable businesses - by learning how to generate profit, structure systems for financial success, and earn the income they deserve. By exploring and implementing the Profit First™ system in her own businesses as well as for clients, Laura’s experienced tremendous growth, improved management, and inspirational innovation. As a result, Laura is now the CEO of Profit First Professionals in Australia.
Neil and Laura discuss options to manage and grow your clinic’s cashflow after Job Keeper and the impacts on your business’ profitability with the coming decline in government subsidies.
In this episode you’ll learn:
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If your clinic has a commercial lease, this is an interview that’s not to be missed. In this episode Neil’s joined by his guest, Richard Barram. Richard’s the founder and owner of Barram Property Group, and he’s worked in Commercial Property for over 20yrs across Australia and New Zealand.
Having worked across numerous different business sectors, Richard’s successfully negotiated hundreds of commercial leases and has an intimate knowledge of the key drivers in lease transactions. Having this intimate knowledge, Richard’s helped tenants and landlords quickly get to a position of understanding and agreement.
During the episode, Richard talks about the importance of having an overall understanding of your commercial lease and particularly knowing a couple of important clauses that will help you navigate your way through COVID and beyond. We also cover the very basic yet important clauses that constitute your lease.
In this episode you’ll learn:
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In this episode Neil’s joined by his guest, Stuart Donaldson. Stuart’s the founder and owner of Banyan Co, and he’s an experienced banking and finance executive, educator, business coach and financial advocate for owners of small to medium enterprises (SMEs).
Neil and Stuart discuss the importance of knowing and understanding your clinic’s numbers. Stuart's key message is that your Profit & Loss (P&L) statement is an information rich report that can greatly assist you in managing (and growing) your clinic, during both favourable and difficult trading times.
During this episode, the question is posed that… “The word profit is mentioned four times on your profit and loss. So, which one is the most important?” Stuart suggests that generally, most business people tell him it’s the net profit, or profit before tax. Surprisingly though, he advises us that there’s a more important place to look for your optimal profit. You’ll not only be surprised by his suggestion, but like Neil, be excited by how much extra profit it can produce.
In this episode you’ll learn:
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No matter whether you’ve just re-opened from a COVID lockdown or are fortunate enough to have stayed open through the restrictions, it’s time to re-think your clinic’s growth plan, to ensure that it’s profitable, and that it survives long-term.
In this episode, Neil discusses the traditional 3-step strategy used to promote and grow clinics, being ATTRACT, DELIVER and PROFIT. This 3-step method is built around first attracting clients, then delivering the treatment, service, or retail sale. At the end, clinic owners are then left trying to find the profit they’ve made (if any) on the work they’ve just done.
To survive in today’s marketplace, Neil’s suggesting that you need to flip the 3-step model, to instead be PROFIT, DELIVER and ATTRACT. He argues that to survive the post-COVID environment, your business needs to first be profitable… before you start attracting more clients that may be adding (or subtracting) from your profitability. It’s a radical shift for many, but one that ensures you’re prioritising the cashflow of your business and therefore the security of your livelihood.
In this episode you’ll learn:
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Over the years, Neil’s visited a lot of clinics. And during those visits, he’s witnessed a variety of communication styles that’ve been used with customers – some good, and some not so good. In this episode, he breaks down those experiences into the three main communication styles he’s seen (and heard) – the Teller, Seller and Persuader.
Neil shares the different behaviours of each of the three in-salon and in-clinic communication styles and suggests some shifts that both the Teller and Seller can immediately practice – to help improve their persuasion skills.
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