SMART Planning for Your Eyelash Extensions Business for 2020
Becoming a professional lash artist means more than just applying lash extensions. To be a successful entrepreneur in the beauty business, it’s important that you define your goals. And since 2020 is already here, it’s a great way to start the new year by identifying your lash business goals and planning how to reach them. To help you accomplish that, we are providing you with a goal setting guide to help you start your year right as a lashpreneur.
1. Start SMART.
As you start a new year, it’s a great idea to work on goals that are SMART - Specific, Measurable, Achievable, Relevant/Realistic, and Timely. By incorporating all of these ideas into your goal setting, you’ll be able to establish a business goal that is easy to measure.
First, you should first specify a business goal that you want to achieve for your lash business. You should then identify your means to measure it. You should also see if your goal is achievable, within your means, and is relevant to your lash business. Lastly, you should specify a time when you would like to achieve this goal. Here is an example:
Specific:Grow the number of my clients by 50%.
Measurable:Identify effective ways of gathering more clients (promotions and marketing) and document performance.
Achievable:If we improve our marketing techniques or have a referral program in place, this goal is attainable
Relevant/Realistic:Growing the number of my clients means better business earnings.
Timely:I will achieve this goal within 6 months.
2. Reflect on what you have accomplished so far.
Apart from identifying your business goals, you should also think about everything that you have achieved so far in the business. Doing so will help you better understand how you are performing as an entrepreneur, what you have been doing right so far and what you might have to improve.
3. Identify your strengths and weaknesses.
Another important factor to look into are your strengths and weaknesses. A number of small businesses do SWOT (Strength, Weaknesses, Opportunities and Threats) Analysis as part of their goal setting. This process can also help you point out your opportunities for success and list out any threats that you have to watch out for. Here is an example a SWOT analysis for a lash business:
Strengths:Great customer service, comfortable clients space, well-trained and certified lash artists, good business location.
Weaknesses: marketing efforts not yet in place, no customer retention in place
Opportunities: better social media marketing, content marketing, website and SEO improvement, implementation of customer loyalty and retention program.
Threats:competitors with better branding, promotion and customer loyalty programs.
Once you have identified and analyzed your business’ SWOT, you will be able to strategize better and improve how you manage your business.
4. Reward yourself.
An integral part of planning your business goals is achieving them. Of course, running a business is never easy. It will require a lot of hard work, perseverance and love for what you do. This is why it only makes sense that you reward yourself whenever you accomplish a goal. It’s a good idea to think of a reward for yourself and your employees. This can help you set your mind for success and give you a good push to achieve your lash business goals.
For example, once you have gained 50% more clients, you can treat yourself and your team of lash artists to some R and R. You can also give individual rewards for your top performing team members who helped you earn more clients.
As an entrepreneur in the lash business, you should see to it that you take care of your business and think about the quality of the products and services that you offer your clients. This is why establishing SMART business plans and understanding your strengths, weaknesses, room for growth, and potential problems. To help you out, we have prepared a business planning kit that you can use to help you plan your lash business goals properly.
So cheers to your successes from last year and we at Lash Blvd wish you all the best for 2020! Happy New Year!