EP 090: Building a Successful Spa with the Growth Factor FrameworkAug 26, 2019
It’s not uncommon for the foray into entrepreneurship to be less like a swan dive and more like a cannonball.
You’re making moves, and you’re making them fast, all in the hopes of building up enough momentum to get your business off the ground so it can soar.
Now don’t get me wrong, I don’t think there’s anything wrong with making quick moves when it comes to launching a business (life’s too short to sit around and wait for the right decision to present itself).
And sometimes life circumstances mean you don’t have time to plot out every move in your business before taking the leap. Sometimes you just have to GO.
However, even if you may not have time to spare, that doesn’t mean you should sacrifice stability.
You need to build your business foundation on solid ground if you want to have success and longevity, and that’s where the Growth Factor Framework comes into play.
What's the Growth Factor Framework?
So glad you asked!
Over the years I’ve discovered that every successful six- and seven-figure spa is built upon the same core pillars that give it strength and stability, which then allows for scale, and it's these pillars that make up the Growth Factor Framework.
Entrepreneurs with successful (i.e. profitable) businesses don’t end up there by accident, they get there with a purpose and a plan, and whether you’ve yet to take the dive into spa ownership or you’re all-in and struggling to keep your head above water, it’s never too late, or too early to get down to business basics and make sure that you’re giving your business the foundation it needs to thrive.
In this episode, you’ll learn:
- The three core pillars inside the Growth Factor Framework
- What it actually takes to make a million dollars of revenue in your business
- Why building a team is integral to your success and where to start with your first hire
- Where the spa industry is headed and how following the framework will ensure you’ll have a business foundation built to last
- How to calculate your Lifetime Customer Value and how this plugs into the bigger picture of your business’ current and future growth
References Mentioned in Episode #090: Building a Successful Spa with the Growth Factor Framework
- Read “The E-Myth Revisited: Why Most Small Businesses Don't Work and What to Do About It” by Micahel Gerber
- Learn more about Post With Purpose, a membership to help you master your spa social media
- Get more industry insights and data via Statista
- Subscribe, rate and review the podcast on Apple Podcasts
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