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EP 393: 5 Money Mistakes Spa Owners Make On Their Journey to a Million

The magic “million dollar mark” is a goal my team and I frequently hear within our coaching programs and among our Spa CEO students and clients, and for good reason. 

Being a seven-figure business owner is a huge accomplishment, one that many small businesses don’t achieve, especially women (a statistic we’re set out to change among spa owners!). 

However, just as frequently as we hear that goal, we see the same mistakes made by spa owners that hinder their ability to grow to that million-dollar-per-year mark. 

The good news is that these mistakes aren’t complicated to fix. But they do require consistency in your commitment to being and acting like a Spa CEO because, when you own that role and what you need to do to fulfill it, these are mistakes you’ll naturally avoid. 

Join me and Team Addo coach Nicole Cooley for our second episode of Finance Month on the Spa Marketing Made Easy podcast, where we discuss: 

  • The five most common mistakes spa owners make keeping them from hitting $1 million in annual revenue
  • Why knowing your numbers is critical to your ability to reach $1 million as well as how to analyze those numbers so you can leverage them 
  • Nicole’s tips for creating a cash reserves calculation that works specifically for you 
  • Understanding lines of credit and how to leverage loans and other financial assistance to grow your business
  • How scheduling and capacity planning play into your big picture goals, plus how to have several success plans so you’re never left wondering what move to make next on your journey to $1 million in annual revenue

Resources Mentioned in This Episode:

  • Discover and learn more about SBA loans
  • Download our Finance Month freebie, Profit First Calculator
  • Listen to the first episode of our Finance Month series, “Episode 392 – Strategically Lowering Your Spa’s Expenses with Nicole Cooley”

To keep the conversation going, ask questions, and connect with other like-minded aestheticians building thriving careers, click here to join the free Spa Marketing Made Easy Podcast community. 


EPISODE TRANSCRIPT

 


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EP 380: Employee Breakeven Calculator

In this episode, we look at the importance of intentional spending when it comes to hiring providers for your spa.

As a spa owner, making sure that every penny spent is purposeful and benefits the company is essential for long-term success, especially in the spa and service industry.

Learn how to use a simple calculator to assess your employees’ performance and make informed decisions that will help you navigate the challenges of growing your business in today’s competitive landscape.

Focusing on these aspects of your business can reduce stress, increase profitability, and massively impact your revenue. 

 

In this episode, we discuss: 

  • The importance of intentional spending and payroll management in a challenging economy
  • Industry statistics on new business failure rates and the significance of beating the odds
  • Recommended payroll benchmarks for the spa and service industry
  • Strategies for determining if your providers are paying for themselves within 90 days
  • A simple calculator tool to assess employee performance and make informed decisions

To keep the conversation going, ask questions, and connect with other like-minded aestheticians building thriving careers, click here to join the free Spa Marketing Made Easy Podcast community. 

Want to learn more about how Addo Aesthetics can help you? Book a call today.

    BOOK A CALL FORM



    EPISODE TRANSCRIPT

     



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    EP 377: How to use Monday.com in Your Spa

    In this episode, I share practical tips and training on using Monday.com as a project management tool to streamline your day-to-day operations as a spa CEO.


    If you’ve ever wondered how to document your responsibilities, track projects, and create standard operating procedures (SOPs), this is the episode for you.

    I discuss the importance of clearly understanding your role as CEO and how to effectively delegate tasks to your team. I then walk you through the template I use that helps organize your monthly, quarterly, and yearly responsibilities, ensuring that your business can run smoothly even in your absence.

    By documenting your processes and using a tool like Monday.com, you’ll gain the freedom to step away from your business while knowing that everything is under control.


    This episode is packed with practical tips and strategies to help you become a more efficient and effective leader.

    In this episode, we discuss:

    • The critical importance of documenting your day-to-day operations and responsibilities as a spa CEO
    • How to use Monday.com to track projects, create SOPs, and delegate tasks to your team
    • Strategies for prioritizing your workload and ensuring that you’re focusing on the most important tasks each day
    • The value of having a clear understanding of your role as a CEO and how to communicate that to your team effectively
    • How documenting your processes and using a project management tool can give you the freedom to step away from your business with confidence
    • A special gift for listeners who sign up for Monday.com using our affiliate link – a customizable template to help you get started

    References Mentioned in Episode #377: How to Use Monday in Your Spa

    • As a special gift to you for signing up for Monday.com using our link, we are giving you the Spa CEO Template Monday.com template you can use right away. 
      • Use this LINK [https://try.monday.com/ngwetw7l9z0y], then simply send us a screenshot of you signing up for Monday.com with our link. You can send the email to [email protected]

    To keep the conversation going, ask questions, and connect with other like-minded aestheticians building thriving careers, click here to join the free Spa Marketing Made Easy Podcast community. 

    Want to learn more about how Addo Aesthetics can help you? Book a call today.

      BOOK A CALL FORM


      EPISODE TRANSCRIPT

       



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      EP 347: ​​Profitably Paying Your Team

      Paying your team – it’s the topic that’s as old as time for every Spa CEO in our community, and as long as you’ve got a vision to grow your aesthetic practice, the topic of team pay is one you’ll return to again and again. 

       

      In this episode, I’m diving deeper into the numerical breakdown behind profitably paying your team and answering specific questions from a previous training I did inside the Spa Marketing Made Easy community called, “Commission vs. Hourly – How to Pay Your Team.” (Link to this video in the full show notes.)

       

      Whether you’re currently a solo aesthetician with dreams to one day have other providers in your practice, or you’re currently trying to find a team pay structure that benefits your team and your business in the long-term, you won’t want to miss this episode. 

       

      In this episode, we discuss: 

       

      • The variety of reasons why salary-based pay isn’t the way to go for spa owners 
      • The Profit First approach to your money breakdown and how to ensure you’re adjusting the numbers to fit your needs 
      • The big benefits of hourly pay and how to properly communicate and present your compensation package properly to your employees 
      • The benchmark for your providers that allows you to know whether you’re profitably paying your team

       

       

      References Mentioned in Episode #347: ​​Profitably Paying Your Team

       

      • Watch my original training, “Commission vs. Hourly – How to Pay Your Team” inside the Spa Marketing Made Easy Facebook group
      • Learn more about the Profit First method and becoming a profitable shareholder of your business by listening to our episode with “Profit First” author, Mike Michalowicz (Ep. 225)
      • Learn more about the Growth Factor Framework program for Spa CEOs here 

       

      To keep the conversation going, ask questions, and connect with other like-minded aestheticians building thriving careers, click here to join the free Spa Marketing Made Easy Podcast community. 

       

      Want to learn more about how Addo Aesthetics can help you? Book a call today.

       


       

      Episode Transcript

       



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      EP 340: A Complete Spa Insurance Overview with Andy Zarkovich

      Figuring out insurance coverage for your business can feel like a daunting task because not all businesses are set up equally.

       

      Not to mention the confusing language and overwhelming amount of options you have to decide what’s necessary for your business.

       

      It’s not a very glamorous Spa CEO task. 

       

      But, it’s a necessary one that you can’t avoid forever.

       

      My guest on this week’s episode of the Spa Marketing Made Easy podcast takes the guesswork out of selecting insurance for spa owners.

       

      Andy Zarkovich is an independent insurance agent and a spa owner who is currently enrolled in my program, Growth Factor Framework.

       

      He’s created a full Spa Insurance Overview document where he reviews the different types of carriers or providers, goes over policy terms, and the details of each coverage to give you the full scope of what insurance coverage you consider for your spa. 

       

      In this episode, we discuss: 

       

      • Ways to mitigate risk in your spa business
      • Adding an insurance agent to your circle of business advisors
      • The different types of carrier options
      • An overview of various policies and coverage benefits
      • Providing a safe spa environment for clients 

      References Mentioned in Episode #340: A Complete Spa Insurance Overview with Andy Zarkovich

       

      • Download Andy’s Spa Insurance Overview document 
      • Visit Andy’s insurance website and learn more about his services
        •  

       

      To keep the conversation going, ask questions, and connect with other like-minded aestheticians building thriving careers, click here to join the free Spa Marketing Made Easy Podcast community. 

       

      Want to learn more about how Addo Aesthetics can help you? Book a call today.

        BOOK A CALL FORM


         

        Episode Transcript

         

         



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        EP 337: A Look Inside Daniela’s Calendar Management Process

        “Is this what the CEO of a seven figure company does?”

         

        The answer to this question is an important first step to start as you begin to understand where your time should be spent as you map out your calendar. 

         

        A time tracker exercise is going to help you pinpoint where you’re most efficient.

         

        It answers questions like…

        1. What time of day am I most efficient?
        2. When do I feel the most creative?
        3. What part of my day am I getting tasks accomplished?

         

        If you want to build a life where your time is spent intentionally doing the work that leads you toward:

         

        • Hitting your biggest goals (personally and professionally)
        • Always having a full cup (i.e. – you feel rested, energized and happy)
        • And allows you to cultivate balance between your business and/home life

         

        Then this episode is for you. 

         

        In this week’s episode on the Spa Marketing Made Easy podcast, I’m giving you an inside look at how I manage my calendar to make sure I’m optimizing my time in the most efficient way possible.

         

        In this episode, we discuss: 

         

        • My full calendar management process that allows me to fully show up as CEO in my business and as the wife and mom I aim to be at home
        • Time tracker exercise benefits to understand when you’re most productive
        • Why context switching makes you more unproductive
        • Understanding what the CEO of a seven figure company should really be spending their time on

         

        To read the full show notes for this episode, visit: https://www.addoaesthetics.com/blog/337

         

        Keep the conversation going inside the Spa Marketing Made Easy Community by clicking here.

         

          BOOK A CALL FORM

           


           

          Episode Transcript

           



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          EP 311: Blocking off time to reach your financial goals – Part 2 – 2023 Annual Planning

          “Nothing changes if nothing changes” is a statement you’ll hear me repeat often because in order to reach a new level in business, you have to get serious about your goals.

           

          Not only do you need to get serious – you need to take action. 

           

          You are the one in control of setting your goals and commitments based on the life you want to live.

           

          After defining your financial goals, the next step is to get crystal clear on the amount of time you need to set aside on your calendar to achieve those goals. 

           

          In this episode of Spa Marketing Made Easy, I’m covering the questions to consider before 2023 that will help you define the proper work/life balance for you in this season of life, plus advice on how to assess your current pricing structure and services profitability. 

           

          In this episode, we discuss: 

           

          • Getting clear about your vision for your company and your entrepreneurial path
          • Defining the really important things in 2022 that you didn’t have time to dedicate your focus on
          • Understanding your season of life and how that affects your work schedule
          • Planning questions to ask yourself to map out your spa’s pricing and services

          References Mentioned in Episode #311: Blocking off time to reach your financial goals – Part 2 – 2023 Annual Planning

           

          •  To keep the conversation going, ask questions, and connect with other like-minded aestheticians building thriving careers, click here to join the free Spa Marketing Made Easy Podcast community. 

           

          Episode Transcript

           



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          EP 307: Taking Advantage of Your Cycle for Aligned Achievement with Renae Fieck

          Ever felt that the flow of the 24-hours-in-a-day or 40-hours-in-a-work week doesn’t actually, well…

           

          It actually doesn’t “flow” at all.  

           

          That’s because those timeframes weren’t built with our innate energetic cycles in mind, especially for women.  

           

          These frameworks were built around a man’s natural timeclock and rhythm and were then translated into a weekly work schedule during the industrial revolution, which has now become a societal norm even though it doesn’t truly work as an ideal time management structure for the majority of society or the population. 

           

          For women, understanding our cycle is not only a foundational element of understanding our innate feminine energy, but when viewing our cycles through the lens of business and work, it becomes a powerful code for unlocking your best life/work balance, structure, and schedule. 

           

          Sounds kind of dreamy, right?


          That’s because it is!

          In this episode of Spa Marketing Made Easy, I’m chatting with Renae Fieck, mom of three, occupational therapist, and the founder of Cycle Advantage and host of the Cycle Advantage Podcast about optimizing your business and life according to your cycle so you can gain leverage as a CEO, balance the demands of life, make a bigger impact, and get bigger results without adding more stress or needing more time. 

           

          ( And if you’re reading, but thinking, “well, I don’t have a menstrual cycle…,” have no fear, I know this is still going to be an insightful and inspiring episode for you, too and we address how taking advantage of your cycle can work as a non-menstruating person. )

          I can safely say that nearly every Spa CEO that comes through my programs would self-identify as a high-achiever, but the way to achieve more isn’t through grit, hustle, and blood/sweat/tears, it’s through understanding the seasons and cycles of when those things are beneficial, how we can use them to our advantage, and when we can lean into a different, but natural way of aligning our energy to achieve. 

           

          In this episode, we discuss: 

           

          •  How embracing our cycle and what’s actually happening with our cycle changes the way we show up in life, within business, and as a leader
          • Some of our personal experiences in finding and tuning into our feminine energy and how big of a role our cycle plays in all facets of our lives as feminine beings
          • The ways we can create microshifts in the ebbs and flows of our workflow so we can better align with our natural energetic cycle
          • The four key phases of your cycle and how they manifest in the ways we might feel and show up
          • Insights into how we can tune into our natural cycle even if you’re not menstruating and how to help your body to adjust and align to a natural rhythm 

          References Mentioned in Episode #307: Taking Advantage of Your Cycle for Aligned Achievement with Renae Fieck 

           

          •  Learn more about Renae’s work via her website at https://renaefieck.com 
          • Connect with Renae on Instagram and Facebook 
          • Get Renae’s free resource on Cycle Syncing Your Business here
          • Learn more about Renae’s Cycle Advantage 101 Challenge
          • To keep the conversation going, ask questions, and connect with other like-minded aestheticians building thriving careers, click here to join the free Spa Marketing Made Easy Podcast community. 

           

          Episode Transcript

           



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          EP 301: The 3 Key Types of SEO Spas Need to Build with Ryan Files of High Level Marketing

          Starting your spa’s SEO marketing journey can feel like an adventure with countless starting points, obstacles, and off-shoots – all of which look promising. 

           

          Sure, choosing your own adventure can be fun, but oftentimes it’s overwhelming with too many options. 

           

          And if you’re thinking, “what the heck is SEO?” don’t fret, my guest and I on this episode of Spa Marketing Made Easy are going to spell it all out and discuss which areas are most important for you to focus on as a spa owner. 

           

          Joining me for this episode of Spa Marketing Made Easy is my guest Ryan Files, the Vice President of Sales with High Level Marketing, a full-service digital marketing company that has some really unique processes and tools particularly around SEO. 

           

          With over ten years of experience and holding six separate Google certifications, including Analytics, Display Advertising, and SEO, Ryan is especially focused on the healthcare and aesthetics industries providing business development and digital marketing solutions for his clients, which includes individual practices from spas to dermatologists and plastic surgeons, as well as aesthetic manufacturers such as Rohrer Aesthetics, BTL, The Salt Facial, and PDO Max. 

           

          While SEO is like many other marketing channels in that the strategies shift along with the evolution of the internet, or in this case specifically, search engines, SEO is truly a time-tested area of marketing where many of the foundational principles have remained the same since the dawn of digital marketing. 

           

          Like Ryan says in this interview, “SEO works like a snowball down a hill —it builds upon itself, the larger it gets, the faster it goes, and the more impactful the results will be.”

           

          When it comes to investing your time and energy into specific marketing strategies, SEO isn’t one you want to sleep on because the sooner you get started, and the more you remain consistent, the more sustainable (and passive) your results will become. 

           

          In this episode, you’ll learn:

           

          •  What SEO is and why as spa owners you should care a lot about this specific spoke of the digital marketing flywheel
          • The three key types of SEO that Ryan groups within this area of marketing into to provide focus to your efforts whether you’re just beginning your SEO journey or looking to beef it up
          • How long you can expect to see results after putting in dedicated effort to your spa’s SEO strategy 
          • How SEO works as you put in effort over time and how using paid Google ads can impact your timeline, plus Ryan’s suggestions on how to allocate your time and monetary resources to dedicate to SEO based on where you are in business 
          • How Google Maps and Reviews play into your rankings as a local brick and mortar business, and some insightful stats to help mitigate unsavory or phony reviews 

          References Mentioned in Episode #301: The 3 Key Types of SEO Spas Need to Build with Ryan Files of High Level Marketing

           

          •  Learn more about the services High Level Marketing provides by visiting their website and click here to book a call with Ryan: https://meetings.hubspot.com/rfiles 
          • Click here to get your spa’s complimentary 30-minute SEO audit from RyanIn the “company name” input field on the form, insert “Addo” next to your company name so he knows you’re a listener! 
          • Connect with Ryan on LinkedIn
          • Follow High Level Marketing on Facebook
          • To keep the conversation going, ask questions, and connect with other like-minded aestheticians building thriving careers, click here to join the free Spa Marketing Made Easy Podcast community. 
            •  

           

          Episode Transcript

             


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            EP 291: Formulating Your Own Products with Lorraine Dallmeier, CEO of Formula Botanica

            When it comes to revving up your retail revenue, one of the most common avenues spa owners explore is private label. But often private labels can leave much to be desired in terms of what you, and your customers, actually want out of a product, especially one with your brand name on it.  

             

            Enter: custom formulations. 

             

            If you’ve ever considered creating your own product line from the ground up, you’re going to love this episode of Spa Marketing Made Easy! 

             

            Joining me on the mic is Lorraine Dallmeier; Lorraine is the award-winning CEO of Formula Botanica, an online organic cosmetic formulation and business school which has trained over 14,000 organic formulators and indie beauty entrepreneurs in 175+ countries. A Biologist and Chartered Environmentalist by training, Lorraine is on a mission to teach the world to make formulation as commonplace as cooking. 

             

            Awarded Digital Achiever of the Year by Google and Cosmetic Executive Women (CEW) in 2018 and voted most influential person in the global natural beauty sector for 2020, Lorraine is a force to be reckoned with in the world of formulation, something she started as a side hustle while on maternity leave that has led to a $6 million global eLearning empire with a team of 40. 

             

            Whether you’re just inkling with the idea of creating your own custom formulations, or you need an inspiring story of growing your empire, you’re going to love our discussion in this episode!

            References Mentioned in Episode #291: Formulating Your Own Products with Lorraine Dallmeier, CEO of Formula Botanica

             

            • Learn more about Formula Botanica by visiting their website and enroll in their free course, “Learn How to Become an Organic Skincare Formulator” by clicking here
            • Connect with Formula Botanica on Instagram and Facebook
            • Connect with Lorraine Dallmeier on Instagram and Facebook 
            • Check out the brands Lorraine mentioned in this interview, NOPALERA and Naughty Alchemist  
            • To keep the conversation going, ask questions, and connect with other like-minded aestheticians building thriving careers, click here to join the free Spa Marketing Made Easy Podcast community. 

             

            Episode Transcript

             

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