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Top 5 Business Challenges

 

No matter who you are, CEO or student, we are all aware of the mounting business, cultural and economic shifts that are building up around us and re-shaping the world as we know it.

Let’s take a look at what’s happening out there that is profoundly affecting the way we all need to do business…and some ways to handle these challenges:

Challenge #1: Client Expectations

Clients are looking for efficient, effective, value driven results – the baby boomers are demanding a wealth of experience; accompanied by good practices. New up and coming echo generations want a casual, fun environment that is savvy, affordable and popular.

Solution: Know your market position. Stay focused and have good disciplines. Make proper feedback options readily available to your clients, and be sure to act upon what the results are telling you.  Stay educated.

Challenge #2: Faster Innovation

To remain competitive, you must innovate first – even a 24 hour edge over your competition will put you miles ahead, but you must be the innovator and the thought-leader.

Solution: Constantly review and refresh your products, services and methods. Make it your business to know what’s coming down the pipes before it hits and act fast when you site an opportunity. Understand local initiatives; identify sectors and potentials for growth; and get staff to participate.

Challenge #3: Public Consciousness

It’s all about green science: water and energy security and conservation; carbon footprints; sustainable living and so on.

Solution: Upgrade your businesses appeal by showing green initiatives; blow your horn, let them know you care. Go2 www.lohas.com. Do this by educating yourself and staff on options and related benefits.

Challenge #4: Staffing

Unemployment is at historic lows – we have an aging population and a shortage of young, entry level employees – who will you hire to relax? heal? lead? your business into the future?

Solution: Know the quality of your business employment opportunities and then constantly improve upon them – recruit with these opportunities. Understand your staff demographic – there may be three or even four generations working with you, and they all have different priorities.  Have peer reviews; management reviews; create stronger staff buy-in; refresh work opportunities; mega-train hopefuls. Remain at the head of the table with these demanding individuals by continually educating yourself.

Challenge #5: Spa Consolidations & Franchises

Spas are looking to boost productivity, reduce costs and increase margins. Some are taking over competitors; amalgamating to form larger enterprises; and of particular importance, spa franchises are becoming big business. How will you survive? thrive?

Solution: Strive to build client relationships and loyalty through personalization; customization; one-on-one goal setting; and self-care education, while still concentrating on meeting the above 4 challenges. Ensure your clients are always able to get a cut of the action and feel they are a part of your brand.

There is always a dollar to be made out there, but you must:

  • Offer what customers want;
  • Have good methods and disciplines;
  • Accurate feedback information;
  • The ability to translate your findings and good ideas into action plans.

Education is paramount, for you and your staff. Grab the opportunity NOW and watch your educational pursuits turn your business into the industry leader it must be.

 

About Leslie

Spas2b Inc. is a full service Spa Development company, specializing in Online Spa Management Distance Learning Courses, Spa Business Manual Instant Downloads & Resources, and Spa Consulting Services.
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