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6 | SEPTEMBER 2017 | NORTHWEST STYLIST & SALON |

WWW.NWSTYLIST.COM

The Nail Extension

Elizabeth Morris

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Take Control of Your Spending

In terms of your business, clients are important.

I call them clients because customers are usually

a once or twice occurrence whereas clients are

ongoing. Clients are long term and that is the goal

with any new client at your business.

You have a relationship with a client; you know

their likes, their stories, and they make repeat

appointments. Clients are the mainstay of your

service.

The very next important item in your business

is keeping track of your finances. This cannot be

stressed enough. Knowing how much it takes to

operate allows you to set prices that make sense

both for you and your client.

However, keeping track of finances is not fun

and it is not why we went into business in the first

place. We love the art of what we do, and we enjoy

providing a service which helps our clients feel

beautiful. Having to track incoming and outgoing

money is the drudgery of what we do, but it is vital

to our success.

To make ourselves complete this non-desired

task, we must force ourselves to develop a process.

I call this process “tightening your boot straps.”This

saying comes from tying your shoelaces tightly so

that you can make a long walk. Without a strong

understanding of the financial health of your busi-

ness, you may last six, 12, 18 months, or maybe

you’ll get lucky and last a bit longer. But your finan-

cial health starts at the beginning. Without this, it

doesn’t matter how many clients you have. You’ll

end up running out of money regardless.

Automating payments and deposits for your

personal finances is a great first step. However, in

terms of business it is all about keeping track of

incoming money and expenses. It isn’t about sav-

ing money and being frugal, or never spending a

dime. It is more about spending on the things you

actually need and cutting costs on those that you

don’t.

Most business owners don’t take the time to

focus on what is very important to their success. If

takes discipline to do the work initially, but once

you have things set up, it will run more smoothly

with less effort.

Take for instance your services. Deciding on a

brand to use, using it with skill and fidelity, will

gain your more clients than having the latest fad.

In general being a true master of your craft is more

powerful than slapping a bunch of nail art on a

nail that isn’t well made to begin with. Some “extra”

items make you money when approached the

right way, like pre-making crystal clusters for when

a client wants one.