Behind the Brows- What you need to be Tracking in your Business
So it's obvious your amazing at what you do! You are constantly putting out killer brows, and you love every second of it! Why wouldn’t you that’s why you got into this line or work right? You love the art of it, and making your clients feel beautiful and confident.
But there is that pesky behind the scenes part of this career that you hate doing- the business side of things.
Number and spreadsheets are not your thing, and after a long day of slaying brows- tracking your expenses and inventory is the last thing you want to do.
Now this may not be all of you, but from my experience in the beauty industry it’s probably a lot of you, and that’s totally ok.
You may not know this about me (probably cause I haven’t share it with you) But my background is in Economics- I actually have a degree in it. Now that’s not to say I didn’t struggle with math (I did a lot- but that’s another story) My point is I really enjoy the logic of math, numbers, and tracking data.
So I’m here to help you with that- not to say that you won't still have to do the work, but I’d love to share some tips and tricks to make it easier and less daunting for you.
Let’s start off simple...
What are the numbers in your business that you should be taking the time to record...
There are 4 Basic Metrics that every Beauty Business Owner should be tracking
Money in (Revenue)
Money out (Expenses)
Now however you would like to track these metrics is fine, as long as they are being tracked. There are apps (paid and free), programs, old school- pen and paper - but my fav way is an excel spreadsheet.
The simplest way to do this would be to create 4 separate spreadsheets- 1 for each metric and divide them out monthly. Make sure to track the date and the amount/cost/income and what each entry is for. Your client info spreadsheet will be a little big different than the rest- be sure to track Name, date, phone number and email.
Once a week, or every couple of days (based on what’s best for your schedule) take an hour to input the data into your trackers. This way you will know where your money is going, where it's coming from, and when you need to spend more.
Trust me, you’ll be thanking me at tax time.
I think behind the scenes business info is super important and I’d love to keep sharing if its something you enjoy. Leave me a comment about your thoughts or if you have any questions- or send me and email- I’m always down to chat with you babes.