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BUSINESS HOW TO ENTER THE NEW FINANCIAL YEAR READY TO GROW & EXPAND YOUR BUSINESS!! By Andy Heyne
As this current financial year comes to an end, and we enter a new financial year! There is always questions in the back of our minds, right? How can I do better this year around? How can I pay less tax? What do I need to do differently? I don’t understand how I can reduce my taxes? What can I do so my salon will generate more revenue? I want to achieve xyz, but I have no idea how? I know we all work hard all year, but I cannot really see the results WHY!!? Let’s first start by saying that. You are perfectly normal, and all these thoughts are not original so you are not alone. Almost 99.9% of business owners have these thoughts or have had these thoughts! Just be ok with being human and going through the thoughts and cycles of a Business owner. Even if you have a 7 figure Salon but are wanting to break through to multiple 7 figures or you are a Home-based Salon looking to expand and get a bigger Salon, this is for you! Tip: We must first be ok with failure. We must first forgive ourselves for what we have not achieved. We first must take a minute and be aware of what we have achieved! As they say, “Stop to smell the roses, but then keep going” well the first part they say, I
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Beauty Biz Year 15 Issue 3
added the second part just now (I think it will stick too)! I have reached many a financial year ends in my career as an Entrepreneur in the Australian Beauty Industry, with the thoughts of ok will I be able to survive the next financial year? Will I be able to sustain these businesses for my family, my clients & my community? I am Grateful to say that ‘YES’ we have survived but not only that we have ‘THRIVED’!! How do we enter the new FY from either last year’s Highs or lows? Here are some suggestions & strategies that will set you up to Grow, Expand, Transform, Inspire. Whatever it is you want to achieve this coming Financial year, here at Millionaire Salon Coach will help!
BUSINESS STRUCTURE TYPES
This here is a big one and can be the topic or situation that makes and breaks a small business. How you are structured from day one is Vital. Always with a re-structure it is best to ‘Start with the end in mind”. That means when you do a re-structure what is your Vision for where you want to go? How big do you want to take this thing called Salon Owning? How much annual revenue would you love to make? These are all vital questions you should ask yourself and have answered when talking to your Accountant or financial Expert Regarding your Salon’s structure. I have resourced information from the account we use in our Company to provide a more detailed & clear description of what will best suit for you. It includes www.beany.com/en_au/businessstructures-part-1-what-is-best-for-you/
