Dear Millionare Seminar Participator,

The secret of the wealthiest man in the universe “Thee Warren Buffet” is - allocating money and managing people.

What is realistic for you? Once you have analyzed all the possible business opportunities and your current situation you must now know what your financial, personal and business possibilities are in order to materialize them. So, going back to the previous practical notes 3, where we discussed the business plan. This business plan should show you the cash flow and how your financial situation will look like. This information is important for both knowing if you have enough cash to materialize the strategies that you have already planned as well as telling you if you have additional cash for “The Next Thing”.

Alternatively - looking at your current situation and your cash and assets versus your debts can also be a source for raising the cash needed in order to materialize the new business opportunities “The Next Thing”.

Materializing new business opportunities normally is connected to investments. Those investments are normally done prior to the stage of collecting the profits and therefore, you must know what your financial possibilities are and or what are you ready to invest in order to grow your business and income.

Raising money is possible in condition that you have assets that can be used as bank collateral or you have a good business plan together with a 20% - 25% deposit of the entire sum that you can offer the bank for the financial needs necessary for materializing “The Next Thing”.

Summary – once you are convinced that you have discovered your “Next Thing”, you need to evaluate the financial investment that are needed and that you are ready to make in order to turn your ideas into an additional business for additional profits and be sure that you can afford it.

What is your Next Thing?
 Your Next New Thing should be fun and profitable for you, otherwise there isn’t any sense in doing it. But, before deciding what your next thing is going to be, you have to be sure that doing The Next New Thing is the step that you really want to take and that you should actally continuously be considering "a new next thing".

Why do The Next Thing at all? – doing the Next Thing is something that consumers absolutely expect you to do!!!! In other words - not doing anything and keeping on doing the same thing as you did in the past is seen by consumers as boring and doesn’t match their expectations. The modern consumer quickly adopts new things in view of fast technological developments and innovations. Therefore, there is an existing readiness and expectation that the same will happen in your beauty salon.

FOMO – Stand for the “Fear Of Mission Out”. This FOMO is totaly new sales trigger that is unbelievably strong these days. Many consumers that want to be in, updated and perceived as “people of the moment” want to experience the new things and discuss them with their close society. New products, new treatments, new launchings are fantastic ways to grow your business and supply your customers as well as new customers with the constant good feelings associated with belonging to a business that constantly grows, updates and introduces them to the latest “New things”.

Curiosity was always a very strong sales trigger and now together with FOMO it has a double effect on the consumer. No matter in what business you are, consumers are curiously looking and waiting in anticipation to see what “The Next Thing” is that you plan for them and are happy to discover and be a part of it.

What is your Next Thing?- Your next new thing can be in each of the marketing mix areas as well as in additional new developments and declarations.

Marketing Mix:
Products – adopting a new skincare line, launching new products, introducing new treatments can be exactly “The New Thing” that your customers are expecting you to do.
Prices –Promotions- offering each month a monthly promotion that goes well with the month or season can be a great and relevant step to boost your sales.
Advertisement – communication- sending an info newsletter to your customers every month will keep your customer updated on the special things that you do and will make them feel a part of your business and this will definately strengthen your relationship with them. Sending birthday cards and anniversary cards (and all the other cards including Christians and other holiday cards) to the relevant customers (at least to your best customers) will be really appreciated!!!

Design and expansion – re-design your beauty salon so that it can deliver an aesthetic architectural experience or re-design at least a part of it, starting with your reception area and then doing the treatment rooms. Create a beautiful shopping area (shop) in the entrance area where customer can have a look at the different products and build their shopping appetite. If all your treatment rooms are fully booked to a level that you can not take new customers, than consider expanding your beauty salon space. The same applies if you believe that you can move to a  better area, or move to a near by area that offers meaningful advantages: for example: private parking for your customers.

Symbols - adopt a new uniform that includes the logos of your business and decorate your salon and treatment rooms with Symbols and posters that represent your beauty salon concept.

Consider changing habits: customers taking off their shoes once entering your salon (and wearing your once-off shoes) and or welcoming your customers with a special health drink or tea or champagne for luxury treatments)

Services – add online services, for example: build your private website to deliver more information to your existing and new customers, add the online shopping & online payment and a “door to door” product delivery service. Your beauty salon can become a school or a workshop centre: There are endless customers that are ready to pay for education. For example: to learn the best way to apply make up and choosing the best colours for their skin-type.

Business to business activities – Move out of your comfort zone and meet with other businesses in order to find ways for collaboration with your beauty salon. You can offer them gift sets for holy days as well as in-house short seminars or give their employees certain benefit /specials when visiting your beauty salon.

Payment conditions - consider adding payment via credit cards to ease the shopping possibilities and or if you already accept credit cards but not all of the credit card types, consider adding the most important credit cards providers. Check the possibility to offer delayed payment. For example: a purchase of 300 Euro can be paid in 3 payments of 100Euro each month.

Start thinking what is “The Next Thing” that matters the most to your customers and might draw the interest of new customers and practically start doing it. Notice the positive impact of even the smallest changes!!!

5 year plan to your first million (Dollar) - during the millionaire seminar I
presented a 5-7 year practical plan as to how every beauty salon can reach the target of 1 million dollar income in just 5-7 years. It means 60 months or 260 weeks. Here are some of the practical steps that will assist you in achieving this business plan.

10 Practical steps for immediate implementation:

1. S ummarize your current position.
2. Find the opportunities that your market offers including government and local municipal assistance. Look at the current trends and what your competition misses. This will be the base for your TNT lists.                           
3. Look at the “ready made ideas” (for your “next  Thing” and add some more ideas that you find as valuable and important to your market and local culture. First, write down at least 60 ideas, once you have aquired 60 ideas try to think of more ideas for your “Next Thing”.
4. Take the 60 ideas for the “Next Thing” and prioritize your 60 ideas
from very important to less important. We call this the A list.
5. Take the (A list) 60 ideas for the “Next Thing” and evaluate financially your 60 ideas from very expensive to very inexpensive to execute. We call this the B list.
6. Link each idea to a specific month (of the next 60 month) and make a commitment to execute your chosen new idea exactly in the month
that you chose.
7. If you have the funds for the needed capital - start executing first the most important ideas each month. Execute your A list.
8. If you don’t have the funds- try to raise the needed capital by presenting your bank your ideas and business plan.
9. If you cannot manage to raise the funds - Take the A list and the B list and correlate them. In other words - rank the A list according to how expensive it is to execute the task. The outcome should be a list of the most important things to do: ranked according to cost. We call this the C list.
10. Take a decision according to what list you are going to use when you start to plan and execute your TNT. You only use the A list or C list. The B list is used just for a cost evaluation.

General - You can decide to introduce more than one TNT in each month: in this case you start your TNT on a weekly basis which sometimes is stronger than just on a monthly base. The basic assumption is that your beauty salon is already decorated in a reasonable way, otherwise, starting with the decoration is the first step to go. The attached TNT lists were done under the assumption that I chose the activities that are more important and that can have an immediate impact on your turnover.

Happy Bionome good feelings Greetings
Avi Konigsberg
Tel:0049-2054-873904
Fax:0049-2054-873905
Cellular:0049-177-5798325
avi-konigsberg@theskincaremillionaire.com
www.theskincaremillionaire.com
www.dr-baumann.com