Stash Your Ca$h And Build Wealth

Hey Beauty Pro, 

One of my goals as a mentor is to find ways to empower teams, increase critical thinking skills and support growth and development.

Years ago, as I began my career as a beauty pro, my Dad always told me "cash is king" - and he was right.

When I was a salon partner, being behind the chair with a full book was an opportunity to make extra cash from tips. I quickly realized that tips can go a long way and I’m sure you can relate!  I decided to use 50% for essentials and save the rest. I put my Starbucks indulgence on hold and brought lunch to work. Over the years I saved thousands! I was so excited about the outcome that I decided to create a “stash your cash” contest for our salon apprentices in order to help them better understand the value of money and importance of having cash, especially in times of instability like a recession or even a health-related or family crisis that requires time off.

In order to participate, each apprentice agreed to save a minimum of $5 per day. We documented each deposit before placing their envelope back in the company safe. They were so excited about the contest that many of them deposited $20 (or more!) per day. The workplace vibe was buzzing and even our most seasoned stylists wanted to join in the fun. Months later, everyone received their saved tips in a beautiful red envelope which in Chinese culture represents good luck and fortune. The results were astounding! Some saved enough money to buy holiday gifts while others paid off some big bills. One stylist actually used the cash to buy a car!

Lead by example and help others reach their fullest potential.

Over the years I stayed in touch with some of the apprentices who went on to become successful industry professionals. I recently spoke with one of my early mentees who reminded me of the “stash your cash” contest more than 15 years ago and thanked me for my guidance and direction when she was just starting out. She told me that she used the cash from tips she saved over the years to open her first salon in Beverly Hills, CA.  

Needless to say, I was elated and thrilled for her!

I truly believe that finance management is an unsought skill set everyone needs to help reduce money stress while improving performance. Your team is also likely to take on fewer side hustles, making it easier to reduce staff vulnerabilities. After researching the money topic further, I discovered that money stress can affect your team’s productivity and happiness meter, which can lead to a high turnover rate in the workplace if money stress is not addressed.

Here are some alarming statistics:

🤑 Two out of three families don’t have an emergency fund.
🤑 Three out of five adults don’t know how to manage a budget.
🤑 78% of Americans live paycheck to paycheck.
🤑 60% of Americans have some amount of credit card debt.
🤑 53% of adults are worried about their financial situation.

The “stash your cash” initiative is just one example of engaging and empowering teams and colleagues to be the best they can be and to be mindful of their future. In this case, the contest not only helped them to save money, but also encouraged workplace excitement and camaraderie which is a big WIN for any salon culture. 

Whether you are a salon owner, Solopreneur or part of a team, I can’t stress enough the importance of leading by example. If you are someone that others look to for guidance and direction, you have the ability to actively lead, engage and set an example for everyone through your own actions. When you are a leader,  others pay attention to your words and actions which is why you have the ability to influence them. Anyone can talk about something and even explain why it’s important. But to have an even greater impact, showing them that you believe it by doing it yourself sets a much greater example to model than anything you can ever say. 

The successful outcome of my own savings plan and my willingness to share my WIN with others is just one way you can lead by example and you don’t have to own the business to do this! re some 

Here are some questions to ask yourself:

✅  Do you lead by example in everything you do? 

✅  Do you work as hard as you can and do your best and work to get better - in every way? 

✅ Do you share your wins and learns with others so that they can benefit from your experiences? 

✅ Do you show others how they can improve and do better? 

Taking the leadership plunge requires a serious amount of focus and dedication and can feel like a seemingly never-ending uphill battle. But, if you believe you are capable of this type of commitment and dedication, the value of your success can easily be measured by the lives of those you have touched. And if you own a business, you have an opportunity to increase productivity and profits exponentially

Some pros are able to lead by example successfully while others get stuck and need guidance and direction from those who have been there. If you are someone who knows that it's time to dive in and be more of a leader, but feel overwhelmed and haven't yet found the tools and viable solutions to bring you consistent revenue, Private Caching is your opportunity to receive support and guidance as you continue to grow.

With over 35 years of experience helping thousands of beauty pros like you build successful businesses around the world, my clients have gone on to found salons, grow their teams, and increase their revenues exponentially..Imagine having someone to guide you in multiple areas of focus where we can zoom into specific areas that will help you boost your business performance and productivity! At House Of Harbinger, we’ll give you the tools to help you lead by example and empower your team. 

Today is a greatday to explore PRIVATE COACHING for you or your team.