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Summary
In this episode, Jamie The Spa Coach discusses essential strategies for spa owners to thrive in a challenging economic environment. The conversation covers understanding costs, effective pricing strategies, enhancing cash flow, and building client retention. Jamie emphasizes the importance of retail in maintaining business stability during recessions and offers practical tips for cost reduction and service adaptation to meet client needs. The episode concludes with a focus on resilience and the mindset required to navigate economic downturns successfully.
HOMEWORK:
- Create a spreadsheet or monthly reports tracker for the key performance indicators
- Build a great program to ensure RETENTION of existing clients
- REFINE RETAIL strategy and reset retail goals
- AUDIT YOUR MENU and get rid of things that aren't working.
- use the 'slow time' as opportunities to schedule time with yourself to set yourself up for smooth sailing when things are busy. Tune your piano.
Keywords
spa business, pricing strategies, cash flow, client retention, retail strategies, cost reduction, recession proofing, service adaptation, business resilience, financial management
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