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Business Success, Part II: Elements of Staying on Top
By: Cathy Christensen
Posted: April 28, 2010, from the May 2010 issue of Skin Inc. magazine.
“Being up a little and having a comfortable enough cash flow; it’s a trick, but it’s what makes Glen Ivy go,” Gray says.
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One of the biggest challenges for companies that have found success and want to maintain it can be keeping the passion for the business alive. “We’re still hungry to do better,” says Murad. “Once you stop trying to become better, the only place to go is down. Occasionally, companies begin to think that they’ve made it, so they don’t have to be as nice to everybody or have the nicest offerings. You have to be as hungry in the 21st year as you were in the first.”
Yeargin agrees, saying, “A business owner has to be an intellectually curious person who wants to learn new things. Be flexible in what you do and how you interact with people. Be open to new ideas and don’t be set in your ways.” Jamal also believes that being stagnant and bored are recipes for disaster when it comes to staying on top. “The fire always has to be burning, and you can never let that fade out. Go ahead and let your guard down and acknowledge when you’re feeling badly, but you can’t stay there,” she states.
This attitude becomes second nature to those who have been in the game long enough, as is evidenced by Gray’s philosophy. “You have to stay true to your vision and change with the times. Adapt and adjust, change pricing, upgrade retail items, add more training, add a treatment ... the part that doesn’t change is staying true to your original vision,” he says.
Poised for longevity
The spa industry, as with most industries in the United States, is in a state of evolution due to many factors, including the economy, and the changing needs and wants of clients. What does the future hold for this industry? Who better to make a prediction than those business owners who have navigated the sea of industry challenges thus far.
“We are going to see this market evolve,” predicts Marini. “It’s going to be more difficult to have a presence in this marketplace unless you have organizational depth, and the ability to support your customer base in a sophisticated manner.” Yeargin also points to the changing industry, believing that change is going to eventually result in quality rising to the top. “One of the challenges that we are experiencing is conflicting information, which could lead to more confusion for professionals and consumers,” she says. “They will look for accurate information, and if they can find sources that are honest, those companies will rise above the rest in the end.”