Five Steps To Getting The Most Out Of Your Freelance Business
The Future Is Freelance
It's no secret that being a Freelance hairdresser offers a lot of flexibility and freedom, from working the hours you decide, to charging the prices you want to charge. However, being freelance also requires a lot of self-discipline and the ability to manage your own business. So how do you get the most out of your Freelance business and build a fulfilling and rewarding career choice?
Step 01: Knowing Your Numbers, Is Essential
Here are our top recommendations for financial success:
01
Separate your personal and business finances. That means having a separate business bank account and credit card. This makes it easier to track your business expenses and income, it also looks more professional. From experience we recommend Monzo or Starling business's account.
02
Utilise software to keep track of your money, for instance, members of Stā Studios are given their own business management software. The software given to Stā Studio's members includes the basics like appointment management, online deposit and booking functions, but also more in-depth features like stock management, marketing, revenue forecasts and card payments. Its also offers accounting tool integration which helps your accountant play nicely with the tax guys.
03
Understand the cost of each service you provide and charge accordingly. Work out how much you have to spend to perform each service, think about what profit you want to make and build a price list that aligns to your business and values. We have some exciting collaborations for Stā studios member events that will look to help in these areas too.
04
Find a good accountant that can provide expert guidance and support in managing your business finances and ensure that you pay your taxes correctly and on time to keep you on track. Don't be afraid to ask questions of them, after all, they're working for you.
05
Build a contingency fund. We recommend you build some cash reserves into you business so that if you have an unexpected bill, have to take time off, or if an investment opportunity comes along, you are able to be reactive and not worry about finding capital quickly.
Step 02: Find a space that works for you and your clients
Now we may be bias, but we believe that a Creatives environment needs to be reflective of them. A space that understands what an entrepreneur in the hair industry needs, not only to do their job, but to run and grow their personal business and brand.
Stā Studios has been along time in the making, it's been born from first hand insight into the changing landscape of the freelance world and bridges the gap between high end salon and freelance space. Everything going into your new co-working space has been curated around what freelancers need from where they work.
Connectivity
A location that you and your clients can easily get to. You can get to within a 5 minute walk of Stā without a single change with over 70% of the TFL network.
Luxe Interior
A salon aesthetic and experience that reflects the high standard of work that you deliver to your clients. Stā Studios interior has been carefully considered to be not only functional but beautiful.
Being Heard
A space that is tailored to your needs, a space that provides you with everything you would expect, everything you need to run your business and everything you need to grow you business.
Team Feel
A place where you can work independently but still feel part of a team, get to connect with like minded creatives and do what you love.
Step 03: Build Your Personal Brand
Growing your own personal brand is important because it allows you to establish yourself as an expert in your field, stand out from the competition and create new opportunities for career advancement or entrepreneurship. It can also help you build a strong network, enhance your credibility, and increase your influence and impact in your industry.
Create a brand message
Develop a clear and concise message that communicates who you are and what you offer.
Define Your Brand
Identify your unique strengths, values, and passions that make you stand out from others.
Consistency is key
Ensure that every aspect of your brand, from your messaging to your online presence, is consistent and reflects who you are and what you stand for.
Build a strong online presence
Use social media platforms to share your message, engage with your audience, and establish yourself as an expert in your field Working in a social first space can make this element much easier.
Network
Attend industry events, connect with like-minded professionals, and build relationships that can help you grow your brand. The freelance community is at the heart of Stā Studios, connecting like minded people is what excites us. Members get access to the Stā members forum where you can exchange knowledge, find out about our upcoming freelancer events and plan ways to work together.
Step 04: Promote Yourself As a Freelance Hairstylist
Marketing your freelance business is so important because it helps you attract new clients, build your brand, and increase your visibility in your industry. Effective marketing can help you stand out from competitors and showcase your unique skills and expertise. It also helps you maintain relationships with existing clients and stay top of mind for future projects or referrals. Overall, marketing is crucial for the growth and success of your freelance business.
Network with other professionals in the beauty industry and attend events.
Build a strong online presence through social media platforms and a website.
Offer promotions or discounts to first-time clients to attract new business. Offering discounts on your services can be an effective marketing strategy to attract new customers and retain existing ones. However, it's important to ensure that the discounts don't significantly reduce your profit margins and that they don't become a regular occurrence that customers come to expect. It's also important to communicate the terms and conditions clearly to avoid any confusion or disappointment. The business software available to Stā Studios members allows you to send personalised marketing campaigns when you want to.
To build a strong online presence, you should create engaging content that resonates with your target audience, post regularly on social media platforms, and optimize your website for search engines. Use analytics to track your progress and adjust your strategy accordingly. Utilize paid advertising to reach a wider audience and collaborate with other businesses or influencers in your industry to expand your reach. With regular masterclasses available to Stā studio members we can help you develop and execute a strategy.
Make sure you have a website that is reflective of you and your brand, use a platform like Squarespace, Wix or Wordpress so you can easily update them yourself, consider collecting and display positive client reviews and testimonials on there for other to see.
Offer exceptional customer service and ask for client referrals. Providing excellent customer service is the key to building a positive reputation and encourages repeat business, this will help you build a loyal customer base and increase your revenue over time.
Showcase your expertise by sharing before-and-after photos of your work. We can all be guilty of forgetting that after photo after a 4 hour colour session but social media is the modern day word of mouth, getting that content is imperative to showcasing your work to not only attract new clients but keep existing clients engaged with you.
Keep learning: The hair industry is constantly evolving, so it's important to stay up-to-date with the latest trends and techniques. Attend classes, workshops, and online courses to continue learning and improving your skills, something Stā Studios is going to do a lot of.
Step 05: Manage Your Time Effectively
Being freelance can sometimes feel like you have a never-ending to do list, one where just as you think you've got to the bottom of it, ten more things have crept on there.
Managing your time can be easier said than done, between working behind the chair, all the admin of diary management, emails, managing your social media account, stock management and trying to have a social life, so how do you reach the holy grail of effective time management?
Minimise distractions, such as social media and email notifications. If you have admin to crunch through this can keep you away from any Tik Tok holes coming to try and swallow you up.
To do lists make it easier to prioritise tasks. The reminders app on your phone is a great place to start with this as we usually always have our phones, having a separate paper to list can be just one more thing to remember about.
Take breaks to avoid burnout and maintain productivity. At Stā Studios our members lounge is perfect if you want a space to do your admin but also great to relax between clients.
Use time-blocking to allocate specific time slots for each task. If you know you have things mounting up try adding time blocks in your calendar designated to theses task so you have the time to do them.
Delegate tasks when possible. Recognising that you have limits to what you can physically do in the time you have or even outsourcing the parts of your job that you don't enjoy so you can focus more on what you do like doing is a key part in time management. For example, you love doing hair but hat dealing with client bookings or even worse having to reschedule clients, outsource it! At Stā Studio have additional services like Stā desk'd where we help manage your client appointments, take care of any rescheduling and help deal with any complaints so you can focus on doing hair.
Connect with other Creatives to work together and utilise both your calendars. For example, you're a colourist but you have to keep doing your own blowdry, this takes up time when you could be colouring another client. Why not connect with a stylist who can do the finishes for you. This is not only more convenient for you, but it's also going to better for your client, as they then don't have to go elsewhere for a cut. Stā Sync'd is something we have put in place to connect you with another Stā member, seamlessly, enabling you maximise your time and earnings. Stā also encourages collaboration within your system, by effortlessly combining multiple services into one bill, and splitting the payment automatically between Creatives.
Make the most of your time behind the chair by working with a hairdressing assistant. Having an assistant can give you back an abundance of time and help you earn more money by allowing you to look after multiple clients at once. Stā Assisted allows members to do just that.
Saying 'No' is OK!. As hairdressers it can feel impossible to say no, but sometimes that's exactly what is needed. Having a client for example that's booked in for a partial head but sits in your chair and says she wants a full head, if you don't have the time in your column its ok to say no and explain this to the client, it's better that rushing it, it not being right for the client and costing you time and money having to redo it.
Always Stā motivated and passionate about your work to maintain a successful freelance career.
If you would like to know more about Stā Studios and what a membership could do for you, please get in touch, we would love to connect with you.