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Prada Vs Primark (And what we can learn from each, when it comes to business)
Yes, they both sell bags, but no, they are not created equal. Let's dive in...
The pricing of products and services, including bags (and even a loaf of bread!) can vary for a multitude of reasons, and the pricing strategies of different brands like Prada and Primark can be influenced by various factors.
But why should either of these brands justify their prices? You choose which you want to buy, and you buy it. At no point are your forced to purchase one or the other – you, the consumer, c…
From Passion to Profit: Achieving Financial Independence as a Self-Employed Hairdresser
Are you an ambitious self-employed hairdresser looking to transform your passion into a lucrative career? Achieving financial independence in the beauty industry is within reach, Boss. As a self-employed hairdresser, the path from passion to profit involves more than just scissors and combs – it's about building a brand, establishing a loyal clientele, and maximising your earnings. In this comprehensive guide, we'll dive into the strategies, techniques, and mindset shifts required to elevate y…
Is your business boring? (And why that's not a bad thing)
I talked about this on an IG live the other week, and I've been pondering on it even more since.
Do you ever feel like your business is boring? And if so, what do you tend to do next?
I've learned that one of my 'toxic traits' is that when things become a bit too easy, I have a tendency to go and faff about, break stuff, or go and make unnecessary changes to things that work perfectly well.
But the truth is, a business that does what it's supposed to, will often feel boring (especially for m…
The Maths Wasn’t Mathing
Contrary to popular belief, I didn’t emerge from the womb knowing how to price perfectly. In fact, little 20 year old Maddi, who maxed out her credit card to pay for her training, had a pretty dreadful money mindset.
I’d grown up in the North East, in a ‘broken home’ where money was scarce, and my clothes and toys were often hand-me-downs from my sister (who FYI, is 10 years older, so lots of 80’s shell suits and My Little Ponies that had seen better days).
There were ever-present money s…
Is it a disadvantage, or your magic?
As someone who specialises in pricing, I wish I had a quid for every time someone said to me, ‘Maddi, I’d love to charge more but…’ and then they add some perceived reason that they need to stay cheap.
Things like:
- ‘I’ve only been doing nails for a year’
- ‘I just work from home, I don’t have a fancy salon’
- ‘I’m only mobile, so people expect me to charge less’
Have you ever thought of any of these? Or maybe you have your own ending for that sentence. If you have, I’d love for you …
Should You Give Friends and Family Discounts?
We've all been there, faced with the dilemma: do I give a discount for friends and family? While it may seem like a good deed to hook up our loved ones, let's dig into why offering discounts might not be the best move for your biz. Join me as I spill the tea on why it's important to tread lightly, when it comes to slashing prices for your nearest and dearest.
First of all, the model in our industry is trading time for money. There are only so many hours in a day, and doing hair, nails or beau…
Stop Sharing Your Overheads
I’ve seen a trend in a particular type of content recently, and I wanted to unpack it with you, from the perspective of a pricing expert who, trust me, has heard it all when it comes to pricing, positioning, and value-articulation.
The point of this content is to share the nuts and bolts of what goes into a nail service price. Sometimes it’s a comparison chart. E.g. ‘what you see’ vs ‘what you don’t see’, where the client ‘sees’ a gorgeous set of nails with jazzy art, but they ‘don’t see’ the…
Sometimes your vision runs ahead of schedule
I was looking through my 5847438 Google Docs the other week, when I came across something I'd written back in April 2022. I was on one of my retreats, where me and my besties go away to the Lakes to work on our businesses and get our heads out of the day-to-day.
We always start our trip with a reflection on what we've done since the last trip, and then we each write a sort of 'vision statement'. Think of it like a vision board, but instead of Pinterest or cutting and sticking from magazines, …
How to Challenge Your Limiting Beliefs
Entrepreneurship isn’t for the faint-hearted. It takes a rock-solid mindset and the ability to navigate through challenges and obstacles. A lot of hair and beauty Bosses struggle to achieve their goals and keep playing small, due to limiting beliefs that hold them back from taking risks and pursuing their goals.
These pesky beliefs are often deeply ingrained, feeling almost automatic or beyond your control. So I wanted to explore the importance of challenging your limiting beliefs as a beaut…
Taking Radical Responsibility
To quote the great Taylor Swift, ‘It’s me, hi, I’m the problem it’s me’.
I often get asked my views on the state of the hair and beauty industry, and it’s often in the form of someone pointing the blame, and trying to get my agreement, or backup, as an expert.
The usual suspects are: other professionals charging ‘too little’, and therefore ‘devaluing the industry’, the rise of self-employed people who are working mobile and from home, and so their lower overheads are making it harder for t…