How to Turn Doughnuts Into Dollars
Doughnut graphs are pretty to look at, but how do you turn them into real dollars in your account?
The doughnuts and graphs we’ve added to your Timely dashboard will make it easier for you to measure your progress against your goals at a glance. When you keep your eye on the key numbers, you’ll always be in a position to make decisions that will increase your bottom line. Here’s how.
Eye on the prize
If your goal is to reach $5,000 in sales every week and you are open 5 days of the week, your daily goal would be $1000. By end of day Thursday you have worked 3 of the 5 days so you should have reached around $3000. By Friday night you should have reached $4000 in sales.
Some days might be more profitable than others. The doughnuts and bar graphs on your booking software will tell you what your average sales volume is on any given day, so you can anticipate it. Always keep your eye on how your business is performing so you can make adjustments that will help achieve your goals.
Appointment book gaps
Those spare gaps in your appointment book could be costing thousands of dollars every year. Here are some ideas on how to better manage your appointment calendar and make the most of you time:
- Take a few minutes every few days to surf your appointment calendar and find those small gaps between bookings.
- Call your clients up and ask if they’re happy to move their appointment time by 15 mins. It’ll feel like a big job to start with, but you’ll soon get better at making your bookings hard up against the previous appointment.
- Automate: Move those offending appointments in the appointment book and let your software notify the client via email/text. Make sure your message is polite and gives clients an option to respond. Your team will soon get the message that a messy and ‘gappy’ appointment book is not tolerated.
Mentor your team
“My team can see how how they’re performing through the day simply by clicking on the dashboard! Managing my team’s KPI’s has just become so easy and it has already made a difference to their motivation!” – Steve Winder, So Magazine + Steve Winder Hair & Beauty
What you track and make public for your team to see communicates to them what’s important to the business. If you track customer product sales, service sales, rebookings and average client sales, your team will know how their performance is being measured, and where to put their focus.
When I was managing my salon, I found I achieved the best results when I met with my team as a group as well as individually to do the math with them on their own goals and wages. It’s not hard to explain to them that, by increasing the value of each visit by selling more to customers, and getting them to come back more often, they can increase their personal income. Most team members will want to work smarter-per-hour rather than harder-for-longer, especially if they feel the reward in their pocket.
Read more: How team talk can boost your sales
Find what your key metrics are, or use the examples above, and track them on a daily, weekly and monthly basis. The graphs we’ve added to Timely dashboards take all the guesswork out, making it easy to follow. You can access your numbers in real time from anywhere in the world, which will allow you to see instant results, and make appropriate adjustments.
Business owners who pay attention to their numbers are in a position to better reach their goals.