6 Steps to Set Your 2016 Spa Business Goals
“Success depends upon previous preparation,
and without such preparation, there is sure to be failure.”
We are already a week into the New Year, time is not slowing down and before we blink we will be starting 2017. In the meantime, we have just under 365 days to work on building our spa business to reach its highest potential. If your 2015 year didn’t close out the way you had desired, now is the time to reflect on what you did well, what you could have done better, and ultimately what you want to see happen this year. There is nothing easy about running a spa, there are so many moving parts that all work together. When an aspect of your business is off, it trickles down into all other elements. So if you have no plan, you are setting your business up to fail.
A frequently used formula for goal setting is SMART Goals. Alyssa Gregory, a small business expert, defines SMART goals as:
Specific – You have clearly defined what you want to accomplish.
Measurable – You have identified targets and milestones to track your progress.
Attainable – Your goal is realistic and manageable.
Relevant – You have identified a goal that fits with your business model.
Time-Based – You have identified a specific period of time for the goal.
We agree with this very simple formula, however, we wanted to expand on this with our own process. So to start the year off on the right foot, you need to give yourself a few hours to fully commit to designing your Spa Business Goals for 2016.
We have broken it into 6 easy steps to get you moving in the right direction.
Visualize: Think about how you want your business to be seen in the market and by clients. Have you strayed from your initial vision and concept and want to get back? Think of your spa in the best possible light, with all the bells and whistles. Do not be limited by your thoughts. Fully embrace your business vision, no matter how lofty.
Collaborate: Have a visualization session with someone you trust, your business partner, spa director or manager or friend. Let them share their ideas and aspirations for the business. You may just get inspired.
Write it Down: Write down everything that you desire and want for your business. Categorize by department and list in order of priority.
Set Realistic and Achievable Goals: It is okay to have high goals, but make them achievable and attainable. If someone wanted to loose 100 pounds in a month, it would be unhealthy and not achievable. Be realistic and be aware of limitations, don’t financially jeopardize your business for a goal that may not make sense. If you need additional research or data to validate your ideas and goals, do it, get expert advise before setting a plan in motion.
Make a Plan: This is the nitty gritty of your goals. Break them down by time and set milestones to getting things done. Assign people to tasks and parts of your project. As Dr. Leo Marvin, from “What About Bob” would say, “Baby Steps”. Make each actionable item small enough that it can be completed within a reasonable window of time. We can never predict every step of every plan, but mapping out incremental milestones that you check off will keep you on task.
Pareto Principle or 80/20 Rule: Wikipedia states: “The principle was suggested by management thinker Joseph M. Juran. It was named after the Italian economist Vilfredo Pareto, who observed that 80% of income in Italy was received by 20% of the Italian population. The assumption is that most of the results in any situation are determined by a small number of causes. “That being said, the 80/20 rule can apply to a lot of areas in life and business. To simplify the rule, 20% of your efforts can yield 80% of of your results. So work smart and efficiently. You may only need to implement small changes to have the greatest impact on your spa business. Think about it, and act accordingly.