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8 | SEPTEMBER 2017 | NORTHWEST STYLIST & SALON |

WWW.NWSTYLIST.COM

Preparation like this makes it possible to supply

what the customer wants without making a mess

of your schedule, and it also helps you have better

control over how much you use based on the price

you charge.

Bottom line on your business finances is knowing

howmuch it takes to run your business, being savvy

about what you can offer and what works well, and

being selective about the products you use.

Any well run business has the cost and profit

of each service/product down to a science. They

know exactly how much time it takes, how much it

costs them to perform, and how much they need

to charge to make a profit. You too need to be

choosing what works well for you and at the same

time makes money for your business.

There are many ways to do this, but I prefer the

digital route. You can have your business appoint-

ments stored via a booking site and then incom-

ing payments can be stored there as well. Using a

reputable accountant is a great idea and they can

help with taxes at the end of the year.

If you can use a program such as Quick Books,

that will help keep track of all the money coming

in and all the money going out, plus you’ll be

able to categorize everything to see where

you’re spending and earning. No matter

the avenue, keeping tabs on the incoming

and outgoing flow of money is of utmost

importance.

Finances are one of those things that so

many put off until tomorrow, set yourself

apart by getting control of your money. You

have worked hard to make the money, now

make it work hard for you.

For more information contact me via email

sales@thenailhub.com . L

ooking for hands-

on help with your business? That is one of my

specialties.

Elizabeth Morris is a salon owner, nail technician, certified educator, and beauty industry

podcaster specializing in business management, financial planning, education, and mo-

tivation for beauty professionals. She discusses relevant industry questions and concerns

and interviews other professionals on her podcast The Nail Hub.

( www.thenailhub.com )