• Time Either Creates or Kills Opportunity

  • Jun 11 2024
  • Length: 4 mins
  • Podcast

Time Either Creates or Kills Opportunity  By  cover art

Time Either Creates or Kills Opportunity

  • Summary

  • In our blog post "All You Need Is 90-seconds" we discussed the importance of implementing the GND (Golden Nuggets of Data) strategy, so let's address the elephant in the room...

    ...The 90-second investment at the start of each client interaction creates a ripple effect that allows you to proactively understand and cater to your clientele like never before. But here's the hard truth - for this strategy to pay off, you have to conquer one of the industry's biggest client experience killers: lack of timeliness.

    You know exactly what I'm talking about - Client B arrives at 10:50am/10:55am for their 11am cut, only to be waiting until 11:15am/11:20am because you were still wrapping up Client A's appointment from 10:15am. This "cascade of lateness" creates a rushed, frazzled experience right out of the gate.

    As the old saying goes, "Being early is being on time and being on time is being late." Guess what? Research actually proves it - data from the University of Mississippi shows that even minor delays of 6 minutes or less can significantly impact how customers perceive and rate a business's service quality.

    Client B is now sitting anxious in your chair, feeling like an inconvenience from the jump. Not exactly the mindset you want them in when you're implementing strategies that promote client retention and additional revenue streams.

    You know income tax, property tax, sales tax? Well this is called 'timeliness tax' - when either your chronic lateness, mismanagement of time or looseness on disciplining late clients, eat into your bottom line.

    Professionals from elite consulting firm Bain & Company found that every 5 minutes of lateness leads to a 25% decrease in productivity over the course of a day. For a barber or stylist regularly running 10-20 minutes behind, that's a devastating tax being paid on your effective service rate and revenue-generating potential. So having funding to grow your business or paying yourself to support the lifestyle you want will be extremely difficult and physically taxing - that's another tax you just introduced into your business.

    So while the GND strategy is a powerful tool, it's just one piece of a greater commitment to punctual, respectful client interactions from start to finish.

    Whether it's spacing out bookings, enforcing check-in/cancellation policies, or simply improving your personal time management habits, prioritizing timeliness allows you to:

    1. Provide a best-in-class experience primed for capturing accurate customer data
    2. Maximize your productive output to earn what you're worth
    3. Build a reputation for reliability that keeps clients coming back

    Transforming your barbering business goes far beyond just implementing new tactics. It starts with living out the basic principle of respecting your clients' time, from the second they walk through your doors.

    With timeliness in place as the sturdy foundation, that's when simple strategies like the GND strategy can flourish into game-changers for understanding your audience and delivering more value.

    So reflect on this question and answer to yourself or below in the comments.

    What small, immediate adjustments can you make in your daily operations to start building or maintaining a reputation for reliability and respect for your clients’ time?

    If you want more guidance and practical steps in creating a system to decrease the timeliness tax, text "strategy" to 888.572.2017 or click the get connected button below.

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