
Build Your Salon with Phil Jackson
How to Make Friends With Your Salon Numbers (A Beginner's Guide)
Do you avoid looking at your salon's financial numbers? Many salon owners do, feeling that knot of dread whenever money is mentioned. You might be brilliant at your work and fully booked, yet never truly understand your business's financial health. It's time to change that.This episode offers a gentle, jargon-free path to making friends with your numbers, turning fear into clarity and control.━━━━━━━━━━━━━━━━━━━━ WHY WE AVOID OUR NUMBERS (AND WHY YOU SHOULDN'T)* It's not about being bad with numbers; it's the fear of what you'll see.* Phil, despite a finance degree, avoided his own numbers, thinking "if I don't look, it's not real."* Not knowing is much heavier than knowing. Numbers are a map, not a judge. They show your starting point for planning your journey. THE THREE NUMBERS THAT ACTUALLY MATTER* **1. TAKINGS (MONEY IN):** The total money from services and retail. This is the 'top of the picture' most owners are okay with.* **2. MONEY OUT (EXPENSES):** Everything spent to keep doors open. Think big buckets: stock (colour, skincare), wages, premises (rent/mortgage, bills), insurance, software, marketing.* **3. PROFIT (WHAT'S LEFT):** Takings minus expenses. This is your reward, to reinvest or take home. A busy salon can be unprofitable if money leaks out here. YOUR PROFIT AND LOSS EXPLAINED* Your accountant's P&L statement is simply these three numbers written in order: Money In, Money Out, What's Left.* Don't rely on annual P&Ls; you need more frequent 'pins on the map' to guide your journey.* Solo owners: your numbers and your wage are the same conversation. Every leak affects your take-home pay. HOW TO MAKE FRIENDS WITH YOUR NUMBERS* Don't make it a dreaded annual event.* Commit 10 minutes a month with a cup of tea to just look at those three numbers.* Don't judge them, just notice how you feel. Knowing, good or bad, provides solid ground.━━━━━━━━━━━━━━━━━━━━ RESOURCES:Get Paid Properly: getpaidproperly.com━━━━━━━━━━━━━━━━━━━━ WORK WITH ME:1:1 Coaching: https://buildyoursalon.com━━━━━━━━━━━━━━━━━━━━ LISTEN:YouTube: https://www.youtube.com/@BuildYourSalonSpotify: https://go.philjackson.me/SpotifyApple Podcasts: https://apple.co/3MZp6jP━━━━━━━━━━━━━━━━━━━━CHAPTERS:0:00 - Making Friends with Your Salon's Numbers0:57 - Why We Avoid Looking at Our Money2:44 - How Numbers Are Like a Map, Not a Judge4:06 - The Three Key Financial Numbers for Your Salon5:53 - Understanding Money In, Money Out, and Profit7:18 - What is a Profit and Loss Statement?8:05 - Why Solo Owners Need to See Their Numbers Clearly8:58 - Make Financial Review a Regular, Gentle Habit10:04 - Your Simple First Step to Facing Your Numbers#salonnumbes #salonfinance #salonprofit #salontips #philhacks━━━━━━━━━━━━━━━━━━━━Questions? phil@buildyoursalon.com

