161 Solocast – Recession Rodeo

Today I am talking about something that isn’t very fun, but this episode should make you feel better by the time you finish listening to it. In this episode, I talk you through navigating the financial future of your beauty business and rallying through the recession rodeo. Maybe you, like so many other beauty professionals, are freaking out about the predicted recession. It can be all too easy to go into defensive mode as the owner of a business that can be seen by some as a luxury that’s first on the chopping block when people start tightening their purse strings. I am here to tell you that your knee-jerk reaction is flat-out wrong.

Listen in to learn five practical tips to recession-proof your spa business, why it’s important to keep your debt low, and what the Lipstick Effect is and how to implement it.

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“The beauty industry has always proven to be recession-proof.” – Lori Crete

Show Notes:

  • What is the definition of ‘rally’
  • Lessons from Lori’s first recession
  • How to recession-proof your spa business
  • Ways to remain inspired at work
  • Learning as a business asset
  • Tips for streamlining your spending
  • How to navigate a recession
  • Should you take on debt for your beauty business
  • What is the Lipstick Effect
  • Does foot traffic matter for spa businesses

“If you are willing to embrace the wild ride and take the bull by the horns you’re going to be just fine.” – Lori Crete

Lori’s 5 Tips to Rally Through the Recession Rodeo:

  1. Show up
  2. Positive headlines matter
  3. Simplify your menu and inventory
  4. Strategic stockpiling
  5. No knee-jerk reactions

“Challenges create change.” – Lori Crete

Links Mentioned:

“Simplification is the key to lowering debt.” – Lori Crete

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About the Author

A finalist for American Spa Magazine’s 2017 Women in Wellness Mentor of the Year, Lori Crete is a highly sought after industry expert and licensed celebrity esthetician. Owner of Southern California’s Spa 10, she is also the founder of The Beauty Biz Club™, a success-based society dedicated to helping beauty practitioners around the world fill their schedule, increase profits and break through to the 6-figure mark.