In this episode, I dive into an important topic for salon owners: how to make smarter decisions in your business. This episode was inspired by a podcast I recently listened to from Alex Hormozi, where he explained a key concept that really resonated with me using financial data to make better decisions. Many business owners feel overwhelmed by their financial numbers. They have money coming in and going out, but without understanding the details, they can’t make clear decisions to grow their bus...
Nov 10, 2024•19 min
In this episode, we're diving into one of the most important principles for managing your business finances: separating your personal and business finances. It may seem simple, but this shift can have a massive impact on your financial clarity, business growth, and even your personal peace of mind. Whether you're a sole trader or have a more complex business structure, separating your finances can help you avoid overwhelm and create clarity on what you earn, what you spend, and how your business...
Nov 03, 2024•29 min
I am so excited to share this first 'Client Files' episode with you and I am grateful to be joined by Siobhan Johnson, the incredible owner and operator of Soleil Holistic Beauty a home-based salon in Karratha, Western Australia, where self-care meets soul care. Siobhan offers a unique blend of beauty treatments and energy healing, providing her clients with a truly holistic experience. Siobhan is a client of mine and we recently finished our work together in the Prosper and Profit Program. She ...
Oct 27, 2024•38 min
In this episode, we’re talking about how to set your Salon up for success during the busiest time of the year. As the holiday season approaches, let's talk about how to put a plan in place to get the most from this time while avoiding unnecessary stress. We dive into key strategies to prepare your salon or beauty business for the next two and a half months, so you can ride the wave of increased demand and come out ahead. What you’ll learn in this episode: Prepare for the busy period: What needs ...
Oct 20, 2024•27 min
In this episode, we’re diving into a topic that many hair and beauty business owners face: burnout. As entrepreneurs, it's easy to focus on the business goals, financial aspirations and growth, but how do you balance all of that with your personal well-being? Recently, I've had a number of conversations with both prospective and current clients about burnout and I wanted to share insights and strategies to help you avoid burnout while maintaining and growing your business sustainably. What to ex...
Oct 13, 2024•39 min
Want to make more profit in the business you already have? Of course! This week on Prosper and Profit we're looking at profitability hacks that are really small tweaks you can make in your salon that create big results. These aren't massive overhauls or an overwhelming never ending list of things you could do, just practical, easy-to-implement shifts that can make a real and fast impact on your bottom line. I’ll walk you through the hidden costs that often go unnoticed but can add up to thousand...
Oct 06, 2024•29 min
The Hidden Cashflow Trap: Are You Overpaying Yourself and Hurting Your Business Growth? In this episode, we’re tackling an issue that doesn’t get enough attention but can seriously slow down your business growth - overpaying yourself. It’s something that most business owners don't naturally think about and can be hard even to realise it's happening, but it can really put a kink in your cashflow and constrain your business's ability to make necessary payments as well as grow. Let's dive in and ex...
Sep 29, 2024•35 min
Cashflow. Revenue. Profit. Monthly Recurring Revenue. There are a lot of terms thrown around out there and it can be confusing. In this episode, I explore the often misunderstood concepts of cashflow and profit. Inspired by a conversation with a client, we look at what these all mean and how these terms, though related, are not interchangeable. We look at the definition of cashflow and profit and the distinctions between them. I give a real-life Beauty Business client example and we'll examine h...
Sep 22, 2024•26 min
Want to market your Hair or Beauty business more powerfully? In this episode, we welcome Hazal, a corporate marketer turned marketing and business coach with over 10 years of experience. Hazal is dedicated to helping ambitious entrepreneurs authentically and confidently scale their businesses, using her signature Self, Strategy, and Systems framework. As the founder of Hey Hazal and the host of the top-charting Self-Makers Podcast, she has guided her clients to achieve remarkable results, includ...
Sep 15, 2024•49 min
Propser and Profit the program 2.0 is here! In this episode of the podcast, I'll bring you behind the scenes into my business as I walk you through some exciting upgrades I've made my signature program which is all about making it better for you. You'll get an understanding of the improvements and new curriculum being built into the program to make it more flexible and adaptable in your busy schedule as well as increasing empowerment so that you never need to rely on anyone in your business to m...
Sep 08, 2024•25 min
In this episode, I take you on a journey through my personal story and my career background, sharing the experiences that have shaped me and the work I do with my clients today. I share some pivotal moments that set me on this path and how my personal values align with the work I do with incredible business owners like you every day. I Whether you're a Hair or Beauty business owner or a coach or consultant wanting to be inspired by my journey this episode will show you how it's possible to have ...
Sep 01, 2024•28 min
Do you want to increase profit and pay yourself more from your business? One of the quick wins available to you is to find savings in your business and in my experience there is often 10's of 1000's of savings available to business owners very quickly when they know how to look for it. Find 10's of 1000's of Savings in Your Business This Week In this podcast episode I dive into strategies for uncovering and capitalizing on substantial business savings opportunities. You will learn the exact proc...
Aug 25, 2024•36 min
In this inspiring episode of Prosper and Profit, I am thrilled to bring you this special guest and hugely valuable conversation with Shakira Jade to explore her remarkable journey from running a $300k salon to scaling it into a multi-million dollar business. Shakira shares her strategies, lessons, and insights on building a successful business in the Hair and Ecommerce industries. In this episode we talked about: - Why Shakira chose to grow her salon the way she did compared to other business mo...
Aug 18, 2024•53 min
Ever wonder who on Earth is right to hire in your business when it comes to business support? You're in good company. That's why in this episode of Prosper and Profit, I dive deep into the different types of support that are available and how you can determine what is right for you in any moment in your business. We explore the differences between professional services, consultants, and coaches. As well as highlighting the importance of being discerning when seeking assistance, understanding whe...
Aug 11, 2024•32 min
Want to pay yourself a bonus every quarter from your business ON TOP of the wage you draw? Using the Profit First system this is absolutely possible! In this episode of Prosper and Profit, we dive into a foundational element of the Profit First: the profit account and you'll learn how you can pay yourself a bonus every quarter by implementing Profit First in your business. We'll discuss the importance of rewarding yourself for taking the risk of being an entrepreneur and how to use the profit ac...
Aug 04, 2024•30 min
If you're anything like the business owners I speak to each week, building out a team that helps you grow your business can be super challenging. That's why I invited my friend and Hiring, Leadership and Team Consultant Paula Maidens to Prosper and Profit to share her incredible wisdom. In this episode Paula and I discuss: - The employee landscape and Paula’s take on the current employment trends and challenges - Proven methods to identify and attract reliable employees as well as key traits to ...
Jul 28, 2024•42 min
In this episode of Prosper and Profit, we delve into the importance of focusing on incremental changes rather than making sweeping wholesale changes in business. Inspired by a conversation with a client, I explore why "too fast too soon" is a principle we do not follow as part of the 'Profit First' strategy and why making gradual, manageable changes leads to sustained success and profitability. I also touch on how this principles impacts various aspects of the business, from operating expenses, ...
Jul 21, 2024•28 min
What Drawing a 6-Figure Wage Really Looks Like In this episode of Prosper and Profit, I cover the difference between a 6 figure business and drawing a 6 figure wage and break down what it takes to actually pay yourself a six-figure salary from your business. We'll dispel common myths, provide financial benchmarks, and offer guidance on how to achieve your financial goals in your Hair or Beauty Business. Resources mentioned in the episode Access the benchmarks here: https://laurajohagan.com/bench...
Jul 14, 2024•27 min
Are you getting this terrible advice to? In this episode I share with you 2 terrible pieces of advice beauty business owners are receiving based on my own conversation with leaders in the industry. You have probably been told these 2 things yourself and they are sabotaging your sanity and your success. What are they? Well you're just going to have to tune into find out. ---- Sign up to the Pricing Your Salon Services for Profit Workshop here: https://laurajohagan.com/pricing-for-profit Previous ...
Jul 07, 2024•27 min
Can you sell more and drive greater profitability in your business while also enhancing the quality of your client experience? Yes! And in today's guest episode we have a conversation on how you can sell in a way that feel's really natural and authentic increasing the performance of your business while ALSO loving on your clients! In this episode I'm joined by Briony De La Fontaine who is the founder of the Spa Academy and we're diving deep into selling, authenticity and giving clients an amazin...
Jun 30, 2024•51 min
Time is money! We've all heard that before, but if you're selling services or treatments more then time is absolutely money. In this episode we dive deep into understanding the time spent by both yourself and your team in your Spa, Salon or Clinic discovering practical ways to review this significant asset in your business. Most importantly, I walk through how to use this information to boost productivity and profitability in your beauty business. If you've ever felt overwhelmed with where your ...
Jun 23, 2024•41 min
There's a big myth that is commonly spouted in the business world.... that selling more is the answer to your cashflow or profitability challenge. In a lot of cases though, selling more means delivering more, often increased costs and a whole lot more work from you and your team that doesn't translate into more money in your business bank account at the end of the month. In this episode we dive into exploring exactly WHY selling more doesn't boost profit and cashflow and I share an easy to under...
Jun 16, 2024•21 min
This week on Prosper and Profit we talk through the step by step process to follow if you've found yourself in the position where you've been using credit cards to fund your business expenses and you can't pay it off. In this episode I refer to previous podcasts to listen to to get started with Profit First in your business, check out episode 2 and 4. Download the instant assessment here > https://laurajohagan.com/benchmarks/ Listen to the podcast with Shakira here >https://podcasts.apple....
Jun 09, 2024•27 min
This week on Prosper and Profit I delve into 5 essential metrics every spa, salon, and clinic owner must know to ensure the ongoing financial success of their business. There are so many metrics you can track and measure in business and I've pulled out the top 5 I am frequently talking about and monitoring with my clients to boost profitability and business performance. From increasing client retention to ensuring staff productivity, I provide context as to why each of these is important, the in...
Jun 02, 2024•29 min
This week on Prosper and Profit we are talking mindset. Not just mindset but the 3 evolutions of mindset business owners commonly move through. We talk through: - what each evolution looks like - where each evolution tends to occur in the business journey - how each stage unlocks more profit, success and growth for you - characteristics and common ways of thinking in each evolution so you can identify where you are and what you need to upgrade in your mindset if you want to evolve into the next ...
May 26, 2024•31 min
Welcome back to another episode of Prosper and Profit. This episode needs the controversial opinion alert as this week I am sharing with the exact reasons why your Accountant IS NOT the best person to help you increase profitability in your business. Say what?! This conversation has been inspired by the numerous conversations I've had with business owners in the last 12 months, who have gone to their accountant and left underwhelmed with how to move forward to improve their business. This episod...
May 19, 2024•20 min
This week's episode is another foundational episode of the philosophy of Profit First. Profit First is a gamechanging money management process for business owners that ensures profit is banked on every invoice that comes into a business and is one of the pillars in the approach I take to my clients to have them taking home more of the money that comes into their business. In this episode we discuss the 4 principles of Profit First and relate them back to something I know you can relate to, makin...
May 12, 2024•29 min
Ever wonder what happens behind the scenes that actually translates to increase profitability and more money in my client's pocket? If you've ever wanted to get a backstage pass on what we ACTUALLY work on and how it translates to more money in the bank and profits, you'll want to listen to this episode. In this episode I walk you through the entire process with a client case study and how this client ended up being able to pay herself more, reduce her working hours and increase her revenue by 6...
May 05, 2024•33 min
In this episode we explore 6 common reasons service based business owners struggle to pay themselves. Each of the 6 reasons covered talks you through the practical side of WHY this is happening so that you if you identify that one or more of these apply to your business you have the knowledge and context to change them and start paying yourself MORE from your business. Resources mentioned in this episode Episode with Ange Henderson: https://www.angelahenderson.com.au/cashflow-crunch-reasons-busi...
Apr 28, 2024•29 min
Have you ever been requested to do something and being given a certain amount of time to do it? Let's say that timeline you were given was seven days, right? What's funny is most of the time we're completing the project in the final day, sometimes hours before it's due, it takes the full amount of time that we've been given to turn it around. And then you may have the experience where someone asks for the same thing but the deadline is shorter. They need, it turned around in two days, and what w...
Apr 21, 2024•17 min
