What’s holding you back from multiplying your success? How can you do more with less? This webinar, conducted by ShearShare CEO, Dr. Tye Caldwell, introduces beauty and barbering professionals to a proven startegy for building long-term success for your small business using the resources you already have. He discusses how to set your small business up for success and how to grow your beauty or barbering business for the long term. You’ll want to save this video to your YouTube playlist!
If you’d rather read the video transcript, you can find that below:
0:06 hi guys what’s going on people how you
0:12 doing hey guys thanks for joining we’re
0:25 gonna give people a couple more minutes to jump on if you have any questions
0:30 during the time though feel free to ask away in the Box to the right and then
0:37 Mr. time will answer those questions at the end of our time together so if you have any questions right now that you
0:43 want me to answer at the end you can go ahead and talk to me now while we’re waiting often what people come on and then I’ll start putting up information
0:49 with ready wrote great thank you guys
0:55 for joining how’s everybody doing wherever you at we’re on the West Coast though so earlier here I’m gonna go
1:26 ahead and get started okay you know
1:35 people I think that uh what I’m most excited about today is is that over
1:41 my course of time in this industry you know there’s so much stuff that I didn’t know there are so many things that I had
1:47 to help have help with and when I think about all the things that I needed to have help with it always took more than
1:53 me I was always that person that started it I was always that person that had the idea and I always thought it was
2:00 just gonna take me to do this and the more that I started to realize this is
2:05 really enough this is not a meat thing the idea can come from you the start can
2:11 come from you the beginning can come from however you want to look at starting something can come from you but
2:17 in order to grow I’m telling you you’re gonna need great partnerships great relationships if your stylist if you’re
2:23 a barber makeup artist masseuse you’re gonna need great clients so I want to talk about the power of three I
2:30 want to talk about in a sense to where you can become successful you know it takes bricks upon bricks to build a
2:36 house and it takes more than one person to help you build a house and and sometimes we don’t think about it like
2:42 that because we think that if we dilute too much of other people into our folder
2:48 into our business that is going to not become ours it’s not gonna be ours long but you know
2:54 when you’re building a salon or a barber shop you know that you have to have barbers you have to have stylists you
2:59 have to have a manager and it’s only gonna make you look even better if you have a very nice barber shop nice and
3:05 long if you have great manager great customer service it’s gonna only make you better so you can’t do it all I had to learn that early in my career that I
3:11 couldn’t do it all and I didn’t want to do it all so I’m super excited to show you with you guys about the information
3:16 I have called a power three but I would definitely like to say whatever my
3:23 background is is is is extensive enough to to share with you about how to be
3:28 successful and I want you guys to understand that I’m sharing things that are real not things that I’ve looked up
3:33 and and the things that I’ve gone through things that have incorporated me to be successful in what I do
3:40 not only as a salon barber shop owner not only as a a book writer but as a
3:47 tick tick startup CEO it’s taken a lot of people to help me get to this point
3:53 my wife included being a co-founder what
3:59 I know for sure one of the things that I know for sure is that the power of three
4:04 is an external multiplication one person can create a starting idea I mentioned that earlier essentially that person can
4:11 build off of what they’ve envisioned but it will take relationships and certain partnerships to move a little faster and
4:17 and much faster it you know how fast you grow so 3 is my number as a foundation
4:23 to build for growth but it’s also a number that I think that it can you can utilize this in so many ways when it
4:29 comes to multiplication so one man’s y 3 y 3 y 3 anything that
4:35 is going to stand strong anything that’s gonna stand strong you have the right pillars to hold it up building clientele
4:42 having successful partnerships with your financial banking institution think about relationships with your product
4:48 vendor come from the number 3 in my experience I’ll explain that as I
4:54 continue to go and break it down so let’s talk about let’s talk about the power 3 as far as building clients here
4:59 I know years ago when I was building my clientele and and now of course you have
5:05 to pass business cars today people think that social media is the end-all be-all but you still have to do a lot of things
5:11 old-school because they still stand in rain it’s true but building strong clientele having
5:17 success having success successful partnerships is gonna be key so when I passed our business cards I let the
5:22 consumers know that I exist your business card let consumers know your location your phone number and all those
5:27 things that you may have on there so you let them know you exist you go out there you kiss the babies you shaking as you
5:33 get to know people social media sometimes take that Flair away so you have no touch point you have no connection with the customer and people
5:41 want to be able to see you they want to see if you’re a nice person I wanna see if you’re if you are somebody that they
5:47 would want to do business with so what made me successful is I understood relationships is leveraging clients here
5:54 so let’s think about when you say leveraging clientele what are you what am I seeing use your clientele is footsoldiers so
6:02 let’s think about it in a way where you have three clients so let’s use it let’s
6:08 use my power of three because what we’re talking about so we when you’re leveraging these things you when you’re
6:14 leveraging this quality you’re planting seeds think about it in that way only
6:19 when you’re leveraging the power of three you’re planting seeds so breaking
6:28 it down giving a free service and a steep discount to three existing clients is not a bad thing so now all you have
6:35 to do is put out good service you have to put out a good product and you have to do what’s best and be consistent and
6:41 just to review that to wash and repeat watch repeat so let’s use the example you have existing three clients pay $50
6:49 for service we’re gonna use just 50 you know it could be whatever it could be 20 30 40 I’m using 50 so you got three
6:55 clients that’s paying for a $50 service
7:04 everybody’s with me now three clients paying for a $50 service that’s 150 dollars the client gives you a 50%
7:11 discount to each client will be $25 profit per client now we’re doing a
7:17 discount of $25 will be $25 profit from their client so you’re not getting the 50 you’re getting 25 because you asked
7:23 him to bring you three clients each client they bring you now between the
7:29 three of those is 75 but each client they bring you now you’re gonna make $50 for a client multiply that by 3 and then
7:38 you got 150 now multiply the 150 times 3 and then you have 450 a profit of 375
7:45 dollars you cannot beat that so if you think about it with that profit of 300
7:52 and a 375 dollars just imagine if you gave those clients a free service if you
8:00 gave those clowns a free service now your profit is $300 not not a bad trade-off for easy fishing you have to
8:07 think about it like that it’s not a bad trade-off for easy fishing because what you want to understand in building your clientele is
8:14 that if one client can bring you three you now have gained nine clients so
8:20 three three three clients bringing you three clients three existing clients
8:27 bringing you three clients apiece that’s nine clients all you have to do is do good work be professional and be
8:36 consistent and all you have done now is using the multiplication of the three
8:42 now you can use a multiplication of 3 against on the nine so now you don’t
8:47 just have three clients you have 27 clients now it may sound it may sound
8:54 easy and it is but you are gonna determine whether how
8:59 whether you’re gonna be successful at this or not because you’re the one that’s doing the work you’re the one
9:04 that’s being professional so you gotta be a little bit you know understanding
9:10 and how you’re gonna build these clientele what perks do you have what qualities that you have and what things
9:15are you gonna do in order to see yourself grow exponentially over a
9:20 certain amount of time some people want to see a growth in a year some people want to see growth in six months some people say okay know me give
9:27 myself two years they want to see growth in two years but at the end of the day if you put some time on all of this and
9:33 utilize the the consistency utilize your professionalism and utilize the good work that you’re gonna put out you’re
9:39 gonna gain concept first because me tell you something good news doesn’t move as fast as bad news so you can lose those
9:44 clients if you don’t do good work but if you do good work and you guys the number of three to build clientele you’re gonna
9:50 be super successful so think about that in the grand scheme of things when you’re building clientele and you’re
9:57 trying to mix that in with social media and all the things that we do today to keep our clientele big utilize the fact
10:04 that you still have to touch people you still have to make people happy and and and at the end of the day once you sit
10:10 back and realize that you put the work in those seeds are gonna grow I promise you just think about it when this is
10:17 over those seeds are gonna grow so we’re
10:22 gonna talk about the power of three when it comes to building relationships through financial institutions and banks
10:28 you know I think that you know when I first started my business I started my business with my own money you know I
10:34 ran out of money real fast thinking it okay well it can’t be that hard to to get up to get a building and then and
10:40 buy chairs and buy all these things I ran out of money so quick I couldn’t my head was spinning I think that I called
10:47 my mom six months down the line I said mom what have I gotten myself into because I’m thinking that you know
10:54 having about twenty five thirty thousand dollars to start a business was gonna be cool and all I had to do was wait for clients coming and I’ll make my money
11:00 back and at least a year it didn’t work like that so you know I found success
11:06 with my bank and financial institution through a partnership so you know essentially you know I opened up a checking account
11:12 I went to my bank open up a checking account and that really started things to allow me to have you know the
11:19 partnership that I need when it came to funds when it came to having having a relationship through building my
11:26 accounts getting LLC’s so I want to share this information with you guys as well you can have a great partnership
11:31 with a bank and and just by being an awesome customer take advantage of the product products that they offer you
11:37 know so that you can enhance the financial needs also by bringing in referrals to customers as well because
11:42 bank slow referrals you know you can work together through a partnership like that sometimes when you bring a referral they’re able to do things for you to
11:48 keep it’s on their file that you referred by such as such because banks want to know that so you know you just
11:55 have to kind of be a little bit cognizant of how you want to keep a relationship and build a relationship
12:01 and understand that when you have the relationship banks remember that you know don’t look at the bank is just an
12:06 institution to put your money in but look at them as leverage so sometimes you can have other things other products
12:12 that they offer when you when you want to go in their stuff like you know what
12:17 we call them banks call them tools so tools like personal loans school loans
12:23 everything now if you want to build a house you know so you want to you want to get a house and then you want you may
12:29 have a house you want to refinance your house think about retirement services that they offer it’s a lot of things
12:35 that they can offer so at the end of the day you want to be able to utilize certain things in this relationship
12:42 that’s gonna give you all the things that you may need so if you think about
12:48 this if you build a relationship with the bank you have three different
12:53 accounts you can build through credit readiness so we talked about having a checking account you can also have LLC
13:00 you can also have your auto loan and if you need to get any repairs there there do a business loan that way as well so
13:06 you can kind of take care of those things I always tell people that if you’re gonna have a bank if you’re gonna
13:13 have a bank and you want to make sure that you keep a relationship with them well how do you build a relationship with a bank at I let me tell you how
13:19 bill relates to obey you only wanna you if whoever you bank with capital
13:24 Capital one whether it be compost whether it be Wells Fargo you only want to have two locations that
13:31 you consistently go in you know people like to go to drive throughs people like to go to ATM no go to the bank and just
13:37 get some money out go to the bank and just cash your checks go to the bank and and and and so they can see you when
13:43 people see you they realize now that there that you have a cater you visit you’re visiting them they’re gonna have
13:50 a good relationship with you they’re
13:57 gonna see this consistent over time and then then you’re gonna build that relationship to a point where they’re gonna recognize you even if you’re out
14:04 even if you just and they’re gonna be times where you want to go where you
14:09 want to utilize a service that a bank has and you want to take that service to another state or to another city and you
14:15 can let them know where I’m going here can we can I make sure that my my my
14:22 card is gonna work in the city because a lot of times when I travel I can go travel as much as I do I have to let the
14:28 bank know I’m gonna be traveling I may be jumping back and forth and they know someone has not did a crime or steal my
14:33 car so they’ll be able to say okay well this person is actually doing a lot they’re doing this and and and they’re
14:38 able to share this across to the to the other team and the bank and say hey you know what they’re fine that no one is
14:45 stolen their account and so that they want to make sure that you’re good but I want to share a story with you so about
14:50 25 years ago I needed a thousand I needed thousands of dollars thousands of dollars to take to continue my uh my
14:59 business and I had no way of getting it I had exhausted all my options and time
15:04 was running out and so what I realized that when I went to the bank I had a checking account and I had a personal
15:10 account but my personal account I didn’t have anything in it but my checking account here because I did all my no
15:16 withdrawals and everything with the chicken account so I went in and I always visit this Bank and
15:23 so come to find out that the manager knew me from coming in all the time because I don’t like going through the
15:29 drive-thru and and she’s told her situation she said well let me see if I could help so I started talking to her
15:35 and I told her the situation she said well I think we can help so she looked at my friend score she looked at the consistency that
15:40 I had with the bank she looked at the fact that how much money I was putting
15:47 in and take out so she could see the frequent flow of how I manage my money and one of the things that she said is
15:54 if we can offer you this and lo and behold she was able to give me alone
15:59over the amount that I needed and I paid the loan back and in a consistent time I
16:05 paid it back actually earlier than I needed to so that gave me a credit worthiness with this Bank so anytime I
16:12 needed another service it was a it was definitely something that they didn’t turn me down with and one thing I
16:18 learned about a bank is that you know you have a three credit bureaus but if you have a consistent relationship and
16:24 you have a good relationship with the bank they don’t even care about your credit score because your credit your
16:30 credit is good with them so you think about that when you when you’re trying to buy a house when you’re trying to buy
16:35 a car they’re gonna take care of you regardless of what your credit score says on the outside of the bank because
16:41 the bank keeps a credit score of you within the bank themselves so if I had to give you one if I had to give you one
16:47 a key to being successful in being great and having a good rapport with a bank it to be that you need to be you need to go
16:55 to the bank you’d have a bank buy your job you need to have a bank buy your house they need to be consistent when
17:00 you visit this Bank over and over again I recommend that you only bank the two
17:05 locations that I’m talking about one buy your home and one buy your job because the old saying goes two is better than
17:12 one it doesn’t make any sense for you to go to all these different banks because they look the locations are with any
17:20 convenience it’s best to just wait it out go to the bank that you always banquet so they can see you because if you’re
17:26 going to all these different banks no one is gonna ever know you you’re just a customer so if you ever need something alone you’re gonna be like okay well
17:33 they’re gonna treat you just like anybody has a new account and the possibility of you getting it it’s gonna be 50/50 but if you if you if they know
17:41 you and you have a cadence and your reputation with the bank is really good your your chances of getting among gonna
17:48 be pretty much over over 75 80 percent and Nessen school of a chance of getting a loan
17:54 when you need some money and who can you go wrong with that way so just think
18:00 about these things when you’re thinking about you know having some capital sitting to the side needing some put
18:08 yourself in a position at retirement needing a school loan paying off a school on anything like that so you know
18:15 these are things that you really need to think about when you’re trying to do
18:20 business with a financial institution okay so that was the that was the second
18:25 one the last one I would definitely say three important nation ships to help
18:30 totally I totally put these last because I know that they have caused me from
18:38 from a lot of get given me the opportunity have a lot of sleep at night and so any anything that I’ve gone
18:43 through any problem that I’ve had these three people the Eternity account and the product distributor has been super
18:50 helpful and and one of the things about that they become your friends because at
18:55 the end of the day who doesn’t need an attorney an attorney I recommend you
19:01 always have one of those in times of need reading through they read through your contracts they counsel you when you
19:07 need it and they help you in any type of litigation when you’re going through it or whether you whether you’re suing
19:12 somebody yourself so I see the value and have an attorney because you know when they read through these contracts and
19:17 because I read I read contracts all the time signing contracts all the time whether the NDA is whether it be you
19:23 know getting in an investor investor monies or whether it just be going to the bank for the salon and taking care
19:30 of certain things that I need you know most attorneys were understanding so don’t be afraid to get an attorney and
19:35 don’t think of them as expensive most attorneys help people on an as-needed basis so you don’t have to think about
19:41 that layer of money that you’re gonna owe them most people think oh well they’re gonna charge me 250 thousand dollars our no attorneys understand your
19:47 need and so they will charge you based on that need and then they don’t they don’t have to have a retainer to hold
19:53 their services so get you a good attorney find a friend family member who knows an attorney if you have one of
19:59 your family that’s even better and keep an attorney on your side because they’re gonna help you when it
20:04 comes to your business when it comes to contracts they’re gonna be able to help you understand why you need not sign it why
20:11 you need to sign it and it’s gonna make you such a better person such a better person now we good thanks sir the next
20:22 thing that I will say when it comes to needing somebody of importance would be a county let me tell you something this
20:31 is save my business years ago because one thing people say is for sure you’re
20:38 gonna do in life for sure you’re gonna pay your taxes and you’re gonna die those are two things that for sure gonna
20:43 happen in this lifetime so you know I think we have it a bad a bad rap on us
20:50 as individuals in this beauty industry whether they be barbering just a beauty interest whole let’s just call it a beauty English as a whole we get so much
20:57 cash we’ve got so many products we make a certain amount of money so we have
21:02 this idea of that they have this idea about us that if we are making this money and if we’re paying all this stuff
21:09 down we’re really not making any money but we don’t actually know how to style taxes properly so it’s best to have an
21:16 accountant on your team because it’s super important but having heavier tax
21:21 is done correctly it’s one of those things it’s gonna help you sleep at night and one of the things I tell people as a licensed beauty professional
21:28 we have not we have not taken care of our business in this area so what would I say doing your taxes correctly and
21:34 properly with what it’ll help you do is keep up with things whether you’re doing quarterly or what do you do annually and
21:40 an account will help you correct all those things and take away a lot of headaches that we’re gonna normally have so this will further allow you to have
21:47 awesome financial opportunities you know when it comes to going in again the house you have your paperwork ready most
21:54 of the time we don’t have our paperwork when we’re going to try to get a house to get a car loan we’re taking all these
21:59 receipts and all this just crazy stuff but you need to have proper paperwork as
22:04 a business professional it doesn’t matter that your stylist doesn’t matter that you’re a barber you you’re a
22:09 business professional so you need to have the proper paperwork and if you have an accountant this now allows you
22:15 to do great things for for yourself in the future for your family because it would give
22:22 you that little protection and the comfort to the banks and other financial institutions if you decide to go other
22:28 places outside of a bank having that trail paper trail is gonna help you so much so let’s talk about the product
22:36 distributors why is that important I think is important now because now that we’re in
22:41 this this social media age now within this independent contractor business no salons are not just the end-all be-all
22:49 to buy products stylist barbers makeup artists now can buy products from the
22:55 from the distributor so there are vendor amongst themselves they’re able to now
23:00 sale products to their customers so the days of just going to a salon buy their
23:0 5products and getting a commission off those products those days are over so you need to take it seriously now and
23:12 have a great relationship with the product vendors because now Lagaan serve your needs and with their growth of
23:18 independent contractors in the beauty and barber industry the licensed professional will also be able to do
23:24 other things outside of just selling products now they’ll be able to understand the industry a little better
23:29 they’re able to talk they’re able to get into doors that they usually were made to get into because they’re not they’re
23:34 not a salon owner now the independent contractor you can get through doors as an independent contractor that’s gonna
23:40 help you when it comes to going to events when it when it comes to getting an attorney when it comes again to knowing accounting so I say now you have
23:48 to create a scale on how you’re gonna sell you products you have to figure out which products you want to sell and meet
23:55 the deliverables so now you’re gonna have to just sit back and think about you know how am I gonna store my where
24:00 am I gonna store my products at that’s all these things are gonna be up to you but it’s so much better at the same time
24:06this partnership is so important when it comes to growth of your clientele it’s
24:11 not even funny but even more so selling the products to use to your clients to create exponential growth it’s really the key
24:18 thing it’s that exponential growth that I think that you need to have when it comes to doing doing the great things
24:25 that you want to do so retail sales can increase clients hair retention and it also builds their trust so if all you I
24:31 think about that as I continue to go forward in in this world of just an
24:36 independent contractor and having a relationship with product distributors so think about these three an attorney
24:42an account and a product distributor need to be on your radar and if they’re not on your radar and you’re new start
24:48 to think about those things going forward if you’re a seasoned veteran and you don’t have these three people and
24:53 you’re in your in your in your back pocket then you’re gonna have some problems going forward and I don’t want
24:59 that I don’t want that for you so the
25:04three things that I would that I would say going going back is think about all
25:10 these all these things that I share with you when building on the power of three it is important to know your why and I
25:17 can’t give you your life so it’s gonna take you some time to figure out what your why is and think about that as to
25:26 where you’re at in life right now what your why is because it’s important each individual knows their own why and and
25:33 and why would make the why of what you have or what your what you’re trying to develop is gonna be important now if
25:42 what I’ve said is is super insightful
25:47 and important you know you can always reach out to me at sheer sheer doctor talk our well own on Instagram cheer
25:56 share calm Taisha calm and and you can always reach out to my team if you want to get in connection with me it’s been
26:03 my pleasure to share with you this info is near and dear to me and I want to say thank you for listening if you have any
26:09 questions I’m open for questions all
26:16 right first question dr. Caldwell I don’t know I just started as a salon
26:22 owner and I don’t know where to go to find an attorney are there any recommendations that you have yes
26:30 definitely you want to reach out to it to relationships you know so if you have anybody I would definitely reach out and
26:37 ask for a referral you just that you can you can call attorneys but no attorneys are gonna be like everybody else doing
26:42 business but I would say first reach out to people you know and see if they have a friend a friend or family member that’s an
26:48 attorney and just kind of go there and if they’re not that type of attorney that that does that type of work that
26:56 you need as far as reading contracts they’re gonna know somebody so our first look at referrals thank you
27:01 all right this next question comes from jazz and Dallas Jess as I’m new to the
27:09beauty industry just started as an aesthetician and I’m nervous about being
27:14 in front of people in handing out business cards is there any other way that I could start my business yeah I
27:20 mean I always tell people at the end of the day your first concert your family and friends they always talk about this
27:26 in the in the tech world when it comes to investments you’re always gonna go to your friends and family and friends
27:32 around before you actually want to go out there and explore angel investor or any VC investors so what you want to do
27:40 is you want to reach out to family and friends first and if you do their hair
27:46 cut their hair or do they make up let them know if they have a friend or somebody that work with them that
27:52 doesn’t mind testing you out of trying you out that that’s your opportunity now to do your best work and you will get
27:59 clientele off of that awesome all right next question comes from Sheena
28:06and Texas Sheena asked the one thing
28:11 that concerns me is that I’m reading through my contract right now and I’m not contract I’m sorry lease agreement
28:18 where do I go if I have questions right now well you can always email me if you
28:27 have any questions that tie at co.com any questions that are unfamiliar to you
28:33 or you don’t understand shoot me a screenshot and I’ll be able to answer it perfectly so thank you for
28:41 contacting me about that but one thing you can do too is go to the beers lawyer that’s on Instagram and if you have any
28:48 questions she will to be great to answer that she she’s a friend of ours and she can help you in any given time if you
28:54 need her yeah tell her shear shear sent you tell us sure she sent you again she’s at the biz
29:00 the viz lawyer Diaz LAN bi z lawyer
29:06 alright that was the last question any other questions
29:13 alright one question here from Shasta hi Shasta the question is I’m a new stylist
29:20 what would I think about when it comes to services I offer when I’m still learning things sometimes I feel
29:27 overwhelmed because I’m just starting I need work um I need to work on my skills well one thing I will say szostak in
29:34 this industry you always want me yeah I mean I’m still learning you know I’ve been doing this
29:42 stylist I’m always willing to get in in the grind with them and learn how they’re doing it the great thing about
29:48 what you’re doing is that you already have the foundation so don’t don’t think about it as hard and you need work but
29:53 just get better at it you know consistency that’s gonna breathe you getting better and better and it won’t
29:59 and at the end point you’re gonna become the best at what you do so think about that and don’t allow the little things
30:05 to discourage you because the little things matter and that’s what’s gonna help with your growth so if I had to
30:11 give you if I had to offer you any advice on using what you need to learn
30:16 don’t be overwhelmed if you ever get overwhelmed you’re you’re you’re probably overthinking you’re making a
30:22 complex and don’t overthink anything just take it as it comes breathe you’ll be fine yeah I would
30:28 agree Shasta no dr. Tighe always talks about yeah you know it when there’s like a big nut to crack just start with one
30:35 small bite and so you have tons of stuff that you could be specializing in right but just try to focus in on one area
30:42 that you really do like and become the you know quote unquote expert in that area still keep your same firm
30:48 foundation but there’s something that you naturally gravitate to in your licensed specialty stick to that and and
30:53feel and build your confidence day by day with a consistency and smile
31:00 question any other questions guys great
31:06 question Shasta and thanks for the honesty no okay well guys thank you so
31:18 much for joining us on this beautiful Monday no it’s an office day for all of us enjoy the rest of your week we’ll be
31:26 back on in a couple of weeks with next webinar and or meet up locally in Dallas
31:33 for details be sure to follow our Instagram page at sheer share and we
31:38 look forward to chatting with you if you have any ideas for themes and topics that didn’t ask this question last time
31:44 please feel free to send those over to our team email hello at sheer sheer calm
31:49 and let us know what you’d like to like try to talk about next time and we’re here to serve your needs guys so just
31:55 remember that we’re here for you it doesn’t matter what they need is we don’t get away in this together in this together so if you’re
32:00 learning we’re all learning together have a good one bye guys
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