5 Time Management Tricks To Increase Your Cashflow

A few simple time management tricks could result in thousands of dollars of extra profit for your salon. Seriously.

If you’re like most people, you see time management as a way to increase the efficiency of your day. But if you’re like a small, elite few, you see time management as a tool for increasing your wallet size.

Benjamin Franklin put it best when he famously decreed that, “Time is money”.

Indeed, for every wasted second you can recoup through better management of your day, it’s absolutely possible to dedicate that newfound time to tasks that advance the status of your bank account. Here’s how…

1. Identify your black holes

There are certain tasks successful business people identify as time ‘black holes’ – that is, tasks that take up a great deal of your time, but don’t add any real value to your business. To identify where your own weaknesses are in this area, spend one day noting down everything you do, much as you’d keep a daily food diary to discover when and why you’re binging on the wrong foods.

2. Check in with you calendar

Allocating just a few minutes each day to touch base with your appointment calendar can allow you to locate and uitlise gaps between bookings. If there are several short gaps, look at contacting clients and asking them to move their bookings by ten minutes or so – it could result in an extra hour of time in the day to squeeze in another appointment. It may not seem much at first, but consider this: if an hour appointment costs an average of $100 and you can fit an extra one in each day by simply reshuffling to avoid gaps, your salon could pull in an extra $700 of profit a week, or $2,800 a month.

3. Automate tasks

Doing all of your administration work manually can result in serious time losses in your day, but implement a simple salon organisation software system that will automatically send clients text reminders before their appointments and update you appointment calendar accordingly, and you could be looking at an additional extra hour, or $100 booking window in your day.

4. Get on the same page

You’re more likely to succeed at better managing your salon’s schedule if your staff are all on the same page as you, so look at holding a monthly, or even bi-monthly meeting to get together and ascertain your targets for the coming weeks.

5. Change your thinking

If you look at what your salon does as selling beauty services, you’re undermining your time management goals. Instead, adjust your mindset to that of successful CEOs and entrepreneurs, who consider¬†their time, rather than their skills, as their business’s most valuable asset. (There are lots of great e-books on this, worth a read.) Thus, the more time you can find in your day, the more money you can make.

Have your say: What are your personal time management tricks?

 

This is a sponsored post by Timely, helping your business succeed.

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