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Planning for a Profitable Year
By: Aaron Sonnenschein
Posted: July 30, 2013, from the August 2013 issue of Skin Inc. magazine.
Merchants in the retail environment are starting promotions earlier and earlier to get their share of the profits before other businesses. This can slowly chip away at your revenue as your clients spend their limited budgets elsewhere. If you think this is happening by accident, think again. Careful planning and execution by many of these retail giants six-to-12 months ahead of time can rob you before you realize it.
However, with aggressive thinking, you can fight back, because the professional skin care industry not only can market service packages, but also customizable, exclusive retail products, as well. This is when planning is crucial.
A road map for success
Do you have a road map for success, or a structure for your business to give you some direction? No matter if it is before the year begins or in the middle of it when a rolling calendar can be used, it is never too late to plan a promotional template. Think of this as a merry-go-round, and you and your business are jumping on as it is moving forward. See Future Planning Schedule. Why is it important to start now? Without a calendar, your business will have no structure, and putting an organized, monthly schedule in place with advanced time allotted for planning and execution will assist you in becoming more successful and profitable.
You cannot plan where you want to take the business unless you know where it has been and what has worked. There is so much creativity in the professional skin care industry. If you can let your imagination take over and tap into team ideas as well, you will reap the benefits of a strong business-building development strategy. The plan is not one that is set in stone, but one that can be changed or embellished as your manufacturer partners add their promotions and new product launches to the mix.
Time to brainstorm
If you work as an individual skin care professional, ask your brand representatives and perhaps a family member who is in business to sit in on a planning session. If you work in a skin care facility, full-service salon, spa or other type of business with multiple service providers, hold a meeting with everyone. When the entire staff is part of the planning process, they become vested and buy into taking responsibility for the business’s success. Complete promotional calendars require a lot of work for execution, so the more people who take part and are accountable for their segment, the more successful you will become.