Perspective, Evolution, and Some Math
Todd Ford • September 27, 2022

Perspective, Evolution, and Some Math!

We cover multiple topics in this week's episode!


Perspective & Evolution

  • Changing how you view scenarios is the easiest way to shift a mindset.
  • It's work, it's putting in the reps, it's not easy, but it is simple, and you CAN do it!
  • Instead of thinking don’t fail, you should think win.
  • Perspective is a really big piece of the puzzle. Be optimistic.
  • Eventually, what got you to where you are won’t be enough to progress. 
  • The team that takes you from 1 to 10 won’t be the team that takes you from 10 to 100.
  • Most people won’t succeed because they’re not willing to stop doing the thing that got them to where they are...when it’s no longer the thing. 
  • Where do you want to be, and what does it TRULY take to get there?
  • Nothing will change if you just keep pushing down a path that isn't working because of some confirmation bias.


Time to math!

  • Step one is to keep an open mind.
  • Step two is to decide what metrics we'll measure and have a defined method for doing so. Basically, you need a "why"
  • This industry MUST stop looking at challenges with a short-sighted view.
  • We also have to look at what we DO have and forget about what we DON'T have!
  • Let's look at the lifetime value of a client.
  • We're going to work in terms of how we price at our salon; if you price differently, that's cool; you'll still get the point.
  • We'll use a fake hair pro that charges $100/hour and name him Benjamin.
  • Benjamin's average appointment is 2 hours
  • His average client comes in every 6 weeks
  • Benjamin's average client is with him for a duration of 5 years
  • $100x2= $200.
    Take a year, 52 weeks, and divide by 6 weeks; we get 8.6 visits per year.
    Now we take those 8.6 visits and multiply them by 200 because that's how much Benjamin makes each visit.
    We get $1720 per year.
  • OK, now this is where things get fun.
  • Let's conservatively increase Benjamin's rate by $10/hour per year
  • This means year 1 is $1720 per client
  • Year 2 goes up to $1892
  • Year 3 is $2065
  • Year 4 is $2236
  • Year 5 is $2408
  • If we add those numbers up, we get $10,320 lifetime value of the client
  • Now, instead of looking at a client as $200, if Benjamin is able to look at each client as $10K what do you think happens?
  • He steps up his game, for starters!
  • He is willing to invest in himself.
  • OK, so now ask yourself, and be honest!
  • What sets you apart from the other hair pros in your town?
  • Treat people kindly 


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