How to give yourself a $10,000 a year raise
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Originally Posted On: How to give yourself a $10,000 a year raise – Lash Stuff
Make More Money Doing Eyelash Extensions
Everyone wants to make more money, but it’s hard to know where to start. First off, it’s all about creating goals. A goal without a plan is just a dream. We can think we want something, time goes by and nothing happens. If you do nothing; you will get nothing. Having the knowledge and the right mindset is everything. I am going to help you with some simple math that you can replicate for your business and how it can support you giving yourself a raise. Some service professionals think they have to raise prices for their guests to receive their raises. Yes, sometimes that may be the case, but what I am going to discuss today has nothing to do with raising prices for guests. Your guests will only be impacted in a positive way with giving them added value to their time with you.
Typically, there are 250 working days per year if you work 5 days per week. This is even being a little flexible for time. More specifically, I figured someone may take two weeks off every year for vacation. If you were to just add on $40 per day by adding 1 additional customer per day or adding services to your existing clientele. This is going to be more focused on how to get your raise from an existing clientele.
Ok. Hear me out. I can just see all the walls coming up and insecurities coming out. I have lived and breathed this for many years. Yes, I am a Service Professional and have been in this industry for over 20 years. There is one word that will be life changing for you and be a crucial part of making more and more money. EDUCATION! Provide your guests with the education on why you are recommending it for them. The more education you can provide, the more they will understand the value of what you are recommending. Do not be a salesperson, I repeat, do not be a salesperson. Educating will support you with so many parts of your business. It will help your customers trust you and your expertise, selling more products and adding more services to each guest.
As humans, we hate the word infamous word, no. If a customer says, “no”, in your head I want you to change it to, not today. You just planted the seed for the recommendation of product or service. Next time they may say yes. Be consistent and make recommendations every single visit! Your clients will trust you want the best for them and their needs. This also comes back to your consultation, asking questions and providing solutions.
It does not matter what kind of a service professional you are
This concept will work for hair, microblading, eyelash extension, waxing or makeup. I literally could list every service out there, but I am sure you get the point. Do your clients know all the services you offer? Do you have services you do and your guests don’t even know you off it? For instance, do you have a wax pot that does not get used or not used very often? Do you have eyebrow tints that are only pulled out of the closet when someone asks for it? You may even have a full menu posted, but do your guests look at it or how that service will impact them personally?
You can use this concept with any services, in fact please do explore your menu and what is a service that can easily be added on to every guest. I am going to use eyebrow wax and tint for this example, but truly the sky’s the limit of possibilities for this analogy. If you have 4 guests per day (reasonable, right) and add on 2 brow waxes and 1 brow tint per day, you can get your raise. What? Mind blown! Take a moment to let that sink in. This also depends on your prices as well.
Let me break this down for you. I did figure these prices on the lower end to show you how easy it is.
If you charge $15 per brow wax and $10 for a tint.
Simply by adding 2 brow waxes on 1 tint per day will give you a $10,000 raise this year. This is adding a simple service on to only 50% of your clientele if you have 4 guests per day.
Again, I can hear your disbelief. This is a real thing. It is so easy! If you were to say, “ I am going to make an extra $10,000 this year”, would it JUST happen? Hm, probably not. If you were to set a different goal of, “ I am going to EDUCATE every guest on the importance of a brow wax and tint and what it will do for them”. What goal sounds more achievable and which goal will give you results?
Here is the formula I used and can help you break down your goals into a bite size achievable goals.
What do you want your raise to be this year?
How many days per week do you work?
If you work 5 days per week x by how many weeks in the year. There are 52 weeks, but I calculate 50 weeks to allow for time off.
5 days x 50 weeks is 250 working days per year.
If your goal is $10,000 divide it by 250 working days = $40 additional per day.
What services can you offer to every single guest?
If your brow waxes were $20, you would only have to do 2 per day.
I hope this helps everyone make more money this year and every year going forward. I would love to hear your success with this. Email us at [email protected]