Knowing how to set medium-term goals for a salon is one of the best steps to set you up for success in growing your business.
After developing the long-term vision for your salon, you need the bridge between daily activities and that vision.
What You Will Learn In This Article?
In this article, you will learn how to choose and set medium-term goals for your salon.
Jump To The Section You Like
- What Are Medium-Term Goals for Your Salon?
- How to Set-Up Medium-Term Goals?
- How to Define Medium-Term Goals?
- How to Measure Your Medium-Term Goals
What Are Medium-Term Goals for Your Salon?
Medium-term goals are usually set for one to five years time frames and focus on activities that will bring you closer to realising your long-term ones.
Why medium-term goals are important
Medium-term goals help you define your salon objectives and go beyond the daily routines. They impact how you organize your staff, promote your business, customer relationship management, operations, savings, and more.
How to Set-Up Medium-Term Goals?
1. Create Milestones
Milestones refer to those major points you reach that add significant value to your overall goal.
And that’s one of the best ways to remain focused on the goal and measure successes.
It is like having a noticeable landmark that moves you closer to your dream and farther from where you started.
2. Break Down Into Manageable Activities
You will work smarter and become more organized if you can break down the goals into smaller, manageable bits.
For example, it might not be the best to lease a bigger salon space, employ 200 hairstylists, spa attendants, manicurists, and pedicurists to fulfill your dreams of a big salon.
You can start by growing the client-base, getting in more hands in the areas with higher demand, and when space starts looking too small, you can move to a bigger one.
3. Create Timeline
Having timelines for each goal helps motivate the team, gives everyone something to aim for. You can better evaluate the level of progress and what needs to change.
4. Sequencing Your Goals
Setting and achieving goals becomes more comfortable when you can prioritize your activities.
Give more priority to those tasks that are more essential to the smooth running of the salon first before others.
5. Save Up For Mid-Term Goals
Setting and achieving your goals must require planning and funding to succeed. So do not forget about setting a budget aside.
How to Define Medium-Term Goals?
Every salon might have a different goal they set to accomplish. Here are some most typical inspirations for your salon:
- How to increase sales by 15 percent yearly for five years?
- How to retain more clients by 15 percent every month for five years?
- How to keep 50 percent of client referrals?
- How to increase the average spend of each customer?
- How to build effective customer relations?
- How best to promote a friendly-working environment for staff?
- How to increase customer loyalty?
- How to improve the customer experience?
How to Measure Your Medium-Term Goals
How do you measure success or failure?
Better still, how do you know if you are achieving your goals or not?
1. Evaluate Results
Checking business outcomes, customer reviews on Facebook, Google My Business, monthly income, and expenditure statements, etc. will help you measure business growth towards your goals.
2. Check How Objectives Align With Activities
Not all activities create meaningful results in your salon.
We recommend finding out and focusing on those that contribute to creating added value like increasing your sales or customer satisfaction.
3. Check Time-Line And Risk-Levels
How much can you do within a specific period and with the limited resources you have? You should also measure time-lines by the capacity of your team to deliver.
That way, goal setting for your organization becomes realistic and timely.
While hort-term salon goalss might be too short, long-term goals might start looking vague without a medium-term plan.
With medium-term goals, you can adjust your plans while implementing and make future successes a lot better.
You learn from small failures and evolve to having a better tomorrow.
You could have started with a broad plan, and as you fine-tune it along the way, it turns out better than you envisaged from the start.
If you find this article helpful, have similar salon business ideas or experiences you would love to share with the Zolmi community, please leave a comment below. Also, we would be delighted to answer your questions, if any.
Automate daily activities for better productivity
Excellent salon management software will take care of daily tasks and will automate your salon’s processes flow.
You could then focus your energy on more critical or productive activities in the salon, like delivering the best service to your clients.
Strategic Goals and Practices of Innovative Family Businesses, JE Mccann III, AY Leon‐Guerrero
How To Create A Long-Term Plan For Your Small Business?
19 Small Business Goals You Can Set This Year