If you already own your own hair salon, you’re wondering how to increase revenue and how to take your business to the next level. Here are tips on how to increase the value of your business.
If you’d rather read the video transcript, here is the full transcript below:
1:22freida slow
1:28you
1:43yeah
2:08you
2:23because like
2:50yeah
3:14all right happening Monday happy MLK Day guys give us a couple more minutes we’re
3:19gonna allow other people to join us thank you for spending your Monday with us
3:25by our clock it’s 11:59 we’ll get started in one minute
3:41picking ground which is gonna be a good one
3:49you
3:55all right wonderful we’re gonna go ahead get started it’s right at 12:00 noon Texas time happy Monday again this is
4:04Courtney Caldwell co-founder and CEO of shear share I had the immense pleasure
4:09of being able to introduce to you dr. ty Caldwell our wonderful visionary and CEO
4:16of shear share today he’s gonna be taking you guys through thinking and growing rich how to increase your value
4:23as a beauty and barbering professional all right before we get started when I
4:29go ahead and let you know where to follow and like you can follow dr. ty Caldwell on instagram and twitter at dr.
4:36ty Caldwell and then you can follow the company for any news and future events
4:42we do have local meetups in different cities from time to time and you can get all that information over at sheer share
4:49all right so as you guys know dr. Caldwell is the visionary behind share share the story if you haven’t had a
4:56chance to read about it is available on our website it highlights the passion
5:01and the vision behind why he chose to start the company that is a total win-win for both the salon and
5:08barbershop owner and for the individual stylist again today he’s gonna be talking about thinking and growing rich
5:14not only has he been featured on Forbes and Fast Company but his classes have
5:20also been turned into seee credits he’s spoken around the globe on how to
5:25maintain success in the beauty and style industry and today he wants to give back by helping you fast track your success
5:33so without any further ado dr. ty Caldwell hello everyone it’s always nice
5:39to definitely get back here I’m glad this is my first webinar of the year I’m
5:45excited to share some things that I feel like it’s imperative to our growth to our understanding into our to a wealth
5:51of knowledge and wisdom that we need so thinking and Grow Rich was something that no I was thinking about as the year
5:58started and you know a lot of times people have heard the book by Napoleon Hill but they’ve never read the book so
6:03I wanted to kind of you know give a little bit site on that from my perspective from
6:08the beauty and style industry and on how to increase your value as a building bar professional so I look at this book as
6:16man this is a tool for anybody who would definitely like to to understand
6:21themselves and think and grow rich you know a lot of times people think about it from a fortune perspective or money
6:27perspective but it’s so much more than that it’s really a mental it’s a driving force for growth and if I wanted to say
6:35anything that would really you know help enhance someone’s thinking I want to highlight in help in areas that we have
6:40for too long overlooked we think from a behind the chair artistic why do I need
6:46to think any other way mindset when we started this industry and I think that is so far away from the mindset that we
6:53need to have so when why Think and Grow Rich you know a lot of reasons I’m glad
6:59that most people if not in this of not on this webinar anybody talks to me I
7:05tell them why thinking Grow Rich because I share this this knowledge about the book all the time Napoleon’s heal book is it’s like a gym it’s a classic it
7:12changed my life years ago I’m time I literally years ago you know its principles are definitely theological in
7:18so many ways and the narrative is mirroring to the soul so you’ll be a better person after you read this book
7:24but I would suggest you read this more than one time you know definitely two or three times just to ingest the wisdom
7:30and knowledge to feed the mind because the mind is an appetite for change is an appetite for growth its appetite to try
7:38to get past a lot of the fears that we have so they can grow rich is one of those it’s one of those books that you
7:43know I look at it you know like my book mentor about failure thinking Grow Rich
7:49wasn’t as popular as people thought it would be when they first came out just over the years it became popular so you
7:56know it’s a it’s a pretty you know best practices book for anyone that wants to
8:01think outside the box think within and so that’s why I think this book is so so great think about it like this I speak
8:12all over all over the US in schools and events and most of the questions people
8:17ask me are questions how did you start what thought process do I need when is the right time
8:24to start where do I start just to name a few you know I say this so much we are challenged by so many things that push
8:31us to grow and we think it’s an obstacle for our demise life will happen you just got to know that life will happen and
8:37there’s nothing you can do about it you would have to go through difficulties you would have to go through changes and
8:44really only God knows we can’t and won’t change on our own so when he wants us
8:50when he wants to take a take when he wants to take us to another level his job is to shake things up in our life
8:55and a lot of times we don’t welcome that that because we think oh man why am I going through this was why do I have to
9:02deal with this why why am I the one that’s that that’s going through this and no one else is and such and such as
9:09having a great life there things are working out for them it’s the opportunity now for him to shake things
9:15up wake us up out our comfort zone and most of us get so comfortable we get so tight to the Comfort that we’re living
9:21in it’s just it’s just not enough to really it’s just not us who need to
9:27really focus on our growth because when we get comfort comforted by the things that we’re doing in life we pretty much
9:34try to stay there and try to add to it you can’t add to comfort because there’s no there’s no growth in it you know it’s
9:40just it begins to be complacent it begins to be monotonous you’re going through the same thing over and over and
9:46over again and conferring complacency is really the absolute death of growth and
9:52change and you know when I when I think about complacency change however is inevitable
9:59I mean you have to know that as humans we are not susceptible to it we’re just
10:05not susceptible to the change that we want to go through the changes that we need to go through and we don’t even
10:10think about growth in ourselves in that aspect either so you know don’t let
10:16don’t let not want it to change really set you back in life because once it
10:23sets you back in life you really it’ll be hard you’ll be hard-pressed to even think okay well how can I speed up the
10:28process that the process has already come to you through the changes and shaking up of your life and the things
10:35that you wanna you want to do different but you’ve gotten comfortable so don’t don’t put yourself in perspective to get
10:40comfortable because it’s not gonna work for you it’s really not gonna be good for you
10:45so you think about things like what am I
10:52doing here why am i doing things I’m doing what do I need to do to Think and Grow Rich what can I think about you
10:58know I speak about so many things I
11:03speak about business how to go to the next level in business how to think about life after business and finances
11:09to name a few and I would like to think that I know a little something about what I’m talking about
11:15I would like to share some things about my knowledge and my experience my wisdom with those that think that you know what
11:23do I need to listen what do I need to gather from this why do I need to think and grow rich in my book mentor about
11:28failure I sure the best practice is five points on how to be successful in beauty and style industry is to go out make
11:35money one of the things we think about is when we go out there we want to think about making money once we get license
11:42that’s enough to stay the level of growth and it’s gonna take its gonna take me to reach different levels to get
11:47ahead I believe me personally I believe faith timing definition purpose
11:54that’s definitely thinking Grow Rich that where you see that a lot in thinking about rich definiteness of purpose it will help you get to that
12:01level as you continue to grow and prosper you have to know that if you’re gonna grow and prosper you have to reach different levels but
12:08you know what however is up to you to seek that knowledge and change the perspective and and when you think about perspective and changing it no one can
12:15do that but you not one person can do that but you so today I want to talk
12:22about three things I want to talk about finance I want to talk about purpose and I want to talk about focus and how to
12:29increase value as a beauty and Barban professional and what that looks like I want to keep it simple though I want to
12:34keep it simple and I want to feed you really within your spirit you kind of get you understanding where things are how I see things and what I believe can
12:42really help you as we continue to go forward in thinking and finance focus purpose so think about it for a second
12:51let’s talk about five minutes this is one of the things that I think is so important in this industry that I don’t
12:58want people to overlook we all have an idea of what we want in our life we do we have an idea what we want in our life
13:05we have an idea of how we want things to be like once we get into this industry money really is what drives us it’s the
13:11first and foremost thing that drive us I know from experience really being this industry for so long when I got in here
13:18I was just happy to be making money I was just super busy once I got into my stride and I had a lot of clients and
13:25all the dough was working me was raking in from all those long hours and I just really felt good at that particular time
13:31in my life but if you think about it here’s my take on me even though this may seem hard to do when you start think
13:39with the end in mind I can’t say this enough think with the end in mind all that we
13:46go through at this part at this point in our journey how do we go through we’re gonna have to experience what that is we
13:52are supposed to reap the benefits of our work and enjoy the fruits of our labor but but we need to know that growth is
13:58necessary making plenty of money will become the normal when you work hard and it’s and wasting money that that becomes
14:05a bigger issue so when I first got in the industry I was making a lot of money but I was wasting probably as much or
14:12almost as much as I was making but you know when you’re making money and you think life is so golden you don’t really
14:19think about that being a bigger issue what is it what is there to reach for after buying all the things your heart
14:26desires what is there to do but you’re not thinking about the future so once I
14:31got into this industry and I started realizing man I can start a business and then started thinking about what have I
14:37done with all the money that I’ve been making I mean I really want to think about my future what what are the things
14:45that I need what are the things that I want to think about going forward you know again think
14:52with the end in mind you know you’re gonna need retirement you’re gonna need SCP Ras you’re gonna need LLC’s you go
15:00cash in the bank you gon definitely life insurance you’re gonna be medical you need dental you don’t need insurance of
15:08all kinds you’re gonna need a 529 plan just in case you want to send your son or daughter at school you got to think
15:15about all these things so most people say why do I need all these things if my spouse is working at a corporate job
15:21what if you don’t get married you know what if you get divorce you know now you got to think again like I said
15:28again with the end in mind you may have to think this way I tell people who are
15:33late bloomers will get into this industry early who give me the entry later in life to think with the end in
15:39mind and you don’t have that first two to three years think about it you really need to say hey you know what let me put some let me
15:45put a plan together for to set myself up for success and and even my kids and if
15:52you if you get married it’s just the extra that that is gonna be coming in but you definitely want to have these
15:58things in place why do you want to have these things in places because you need to start buying things for your future
16:04that’s that they’re gonna secure you other than just a house and car you want to get those things fine you don’t need
16:09a place to live you don’t need a way to get back and forth from from from work you want to have those things but that
16:16can’t be the end-all be-all to what you’re trying to do and what you’re trying to gain in life the jury encloses
16:22good all of that is great but you need things that your friends can’t see and that and those are these things on this
16:29checklist you have to think about it because if you don’t calculate these things early
16:34you’re gonna lose you’re gonna think about man why did not do this then you can’t think that everything that a
16:41corporate job gives you is free you’re paying for what you just paying for through your check so you don’t even see it it’s the same thing here you’re
16:48paying for these things and you just need to put a plan in place to make sure that you can pay for these things and
16:54make sure you have these things as not just security but you want to have insurance plans you want to have things
16:59that are gonna really secure you when you don’t when you get in situations where you need that you don’t want to wait to the last minute
17:05I’ve created basically a calculation and the calculation here is if you’re
17:12thinking about your business or selling your business for those who have a salon think about
17:17the revenue that you’re making – the expenses which gives you your net profit the second calculation is your net
17:24profit times 3 and that’s how much you will sell your business for today so for those thinking with the end in mind
17:31think about it like this and and and don’t get caught up in in just numbers
17:37that you’re gonna bring home but get it really expanded in your thinking on how
17:42you’re going to benefit yourself about having all these different platforms
17:48that you can secure your future with we all have a purpose in life and I tell
17:54people what is your what is your your purpose and and and you have to kind of
18:01give yourself the idea of what that looks like so in this next calculation if you have a certain amount of money
18:07you want to make a year and sunny it just throw a number out there hardcore six-figure numbers just over a hundred
18:13thousand and this is your number you got to think okay how much of the service is worth you
18:19know the minimum per cut and then how many days a week you’re gonna work and then if you think about it like this
18:24these are the number of clients that you’re gonna have to cut per day in order to reach that amount of money so
18:31think about everything from the perspective of how do i how do i want to get there put that number in place and
18:37then go through the calculations we can share all this with you email me at tire show.com and I can send you these
18:43calculations they’re so easy to get to but I want to be I want people to be able to see what they don’t know because
18:50you can’t get in here and use this industry as a hustle and you don’t know really how to make this make this hustle
18:56turn into a business and work for your needs so let’s talk about purpose the
19:02definition of purpose guys the definition of purpose is the reason for which something is done or created or
19:08for which something exists let me let me let me say that a little slower the
19:14reason for which something is done or created or for which something exists we
19:20all have put here for a purpose you know I think and we don’t think about our purpose we
19:27think about our talent we all have a purpose in life we have to ask ourselves what is it and we have to find it you
19:33know it’s truly our source of happiness once we really find that purpose most of
19:39us say I’m working in my passion because you know you’re only utilizing the talent whether you a colorist whether
19:44you’re great barber you’re getting makeup artists tyler’s you’re great massage therapy but there are plenty of people that have the same talents that
19:50are not even licensed like what we do and so we got to think about okay if they’re like they’re not licensed in the
19:57same thing I’m doing maybe I’m looking at it from different I’m looking at the wrong way and from a
20:02different angle you have to understand your purpose so let’s just take open wounds before example Oprah had and hosted her lone
20:09award-winning long-standing award-winning show go for Michelle for 25 years he became the most watched the
20:16most recognized and people loved her show so when Oprah say you know what I’ve got
20:2225 years I’m done what is my next stage in life you know she was just trying to
20:27figure it out but Oprah found my purpose and it was reaching out to people giving people understanding about life and and
20:34just putting everything out there for people to see and it kind of mirrored what the world was going through so
20:40after that show Oprah said you know what what can i this over literally decided
20:45to start a whole network those it may be a play on words own because her her
20:51network is called own the Oprah Winfrey Network and now she reaches millions of
20:57people daily and think about the show she only in all her network she has more
21:04shows that reach different walks of life and so you have to think about well what
21:09has she done what is she doing after amassing over a million she’s just got to walk away rest in her laurels and
21:16just been like m’kay cool she’s one of the richest people in the world so you would think how how much what else do
21:22she need to attain she has it all well if when you’re living in your purpose it’s more than just money it’s more than
21:29just things you you you have something to give the world your purpose is to give to someone else it’s not for you
21:35and you have to understand what that purpose is not for you I take myself for example
21:40you know I started cutting here at eleven years old and you know when I think about my age and how I started so
21:49early it is it’s not dumbfounding but it really kills me the opportunity to say
21:55man I started cutting here at middle school I could hair out throughout all throughout my high school years eve enough to announce but one thing I
22:02didn’t know it was just a talent you know it was just a talent it was a gift
22:08and I got good at it but because growing up we weren’t able to go to the barber shop we weren’t able to do the things
22:13and pay for those those videos a lot of us so we just couldn’t go and pay for a haircuts with forks for four boys and
22:20and then be able to afford it so you know when I learned how to cut here I was cutting out I was cutting my hair I
22:25was getting my nephews and my brother hair it just became a thing where he just became easy so I didn’t really know
22:31if it was a purpose for me or not so we’re not when I graduated I went to school for sports medicine and I want
22:38the minor in psychology I really wanted to kind of have a process on succeeding
22:43in what I thought I wanted to do but after going to classes and just became routine and monotonous and and I’m still
22:50cutting here all right I had to come to a crossroads and X God I said you know what can I do that I don’t have to work
22:59hard at that can provide me dividends and and money that I still like to do
23:07and enjoy so I decided to go back to my first love and my first love was was cutting here
23:13it allowed me to attend barber school at that time when I made the decision I went to a barber and cosmetology school
23:19so I was able to get both license understanding from the perspective other than just just cutting I learned so much
23:24but I think one of the things that this decision was for me what it was the best
23:30decision I could have ever made and then fast forward to now 25 years later in
23:36the industry I am know even now I’m seeing co-founder share share but not
23:41only a tech startup but I also earned my doctorate in professional barbering I
23:47wrote a best-selling book called mentor about failure author the book I’ve been a salon owner for two decades I’ve
23:55taught my own CD courses at plenty of shows I speak on I’m on several advisory
24:01boards for Barbara beauty schools I speak about this all the time so cutting
24:08hair is my gift let’s just understand that it’s not gift in my talent but my purpose which is reaching other people
24:15came through that the Bible says in Proverbs 18 16 a man’s gifts make it
24:21wrong for him and bringing him before a great man however in saying out that this is what
24:27it says about purpose in Romans 8:28 and we know that all things work together
24:33for good to those who love God and to those who are called according to his purpose so not just not it’s not just a
24:40definition that Bible in the dictionary it’s something that the Bible speaks of according to his purpose so ask yourself
24:48what is my purpose and then meditate on that and when you meditate on things there’s nothing like having life driven
24:57by your purpose through your gifts into your talents now when you think okay
25:03what is my talent well it’s not about what
25:09you like to do what are you passionate about there’s a purpose for you you get an extra self what is my purpose is your
25:15purpose reaching out to people is your purpose of selling something that the world needs is your purpose reaching out
25:21to the youth there’s a purpose for everybody so you gotta find that and you gotta take time to sit back and figure
25:28out what that is let’s talk about focus
25:37Venus Williams says I don’t focus on what I’m up against I focus on my goals and try to ignore the rest hey hey I can
25:47approach this so many of us just don’t have that necessary focus to grow and develop into all that we really can and
25:55should be living you’re living your purpose I’m not gonna lie requires laser
26:01focus laser-like focus when you think about life and how tough it is life is
26:08tough but to build a mindset of toughness you have to overcome obstacles that most people aren’t able to do so
26:16most of time when I’m talking to people it’s like how do you do that well somebody asked me two weeks ago how are
26:23you able to do all the things you do and and you got a deal with making sure you got finances you got family you travel
26:29you know all of these things weren’t easy when I first started but as you
26:34continue to do that and it continues to build and a hard exterior on the outside
26:40but you began to be become so much more or on the inside you you have to think
26:48why because challenges because it challenges us and that’s where growth
26:53comes from when I first became a salon and barbershop owner I never thought it was easy Network I always thought it was
26:59easier than what it was and I and I say that simply because when I worked in this salon you know I was like I can do
27:09this but really I was looking at it from of myopic point of view and I was
27:14looking at it just from a booth mentor worker point of view in it and they didn’t seem like it was really hard but
27:19when I when I decided no I want to do the ownership of my own of my own
27:25business oh my god that that’s something that
27:32you really have to be prepared for I teach it now I help people understand what it’s like to be an owner but
27:41that particular time like I said it was a it was myopic point of view and and little did I know that starting anything
27:48starting it was gonna be easy but but to continue to build and continue to maintain and continue focus there’s that
27:54word again focus [Music] is really how you ultimately achieve
28:00success you have to think how am I gonna continue doing what I’m doing go through the processes of failure and then have
28:07to continue to think about achieving success let me tell you something if it
28:13was easy I could have easily given up after that first day I was on it I became a barber stylist and I only had
28:19one client just like I could’ve easily given up you know after the first day and I realized man this isn’t easy I’m
28:26running out of money I don’t have any money I’m now it’s in a place where I’m very uncomfortable but you can’t give up
28:33after a few rejections setbacks or letdown if you do that you have chosen
28:39to quit but if you continue to go forward you’re gonna fail but you just
28:45don’t have to quit so you gotta maintain that that that that mindset to keep
28:54going you got to create you got to have certain I have certain mantras that I
28:59tell people and that think about if you were in a boat and you’re going and
29:05you’re going down you’re going with the current of the water it’s always easy to go with the current of the water because
29:14you just just setting your sail you’re just going with the water but just because you’re going with the water
29:19doesn’t mean you’re not gonna bump to the side or you’re not gonna run into a few you know rocks so you’re not gonna
29:25be uncomfortable it just means that you’re going in the right current and things are working for you you’re not
29:32you’re not uh you’re not excused from from things that are gonna happen that are gonna set you back you’re not excuse me that but what I will say is that if
29:41you’re if you’re in position to to take sail going against the current is it’s
29:47probably gonna be a little bit more difficult for you and the reason that I see say that is because maybe you’ve
29:54made a bad decision maybe it could be timing so you got to
29:59think about all those things that could put you in a position where you fail and and then you may have to say you know
30:05what I didn’t do this the right way because you’re really working harder than you need to but regardless we our own worst critic I mean there’s
30:13so many times I do things well then I’d be like man I don’t think I did that that well I don’t know if it’s it’s
30:20something that I want to do again but I just remain focused and I’m determined and I’m disciplined one of the things
30:26that really got me to this point in life to to success is when I focus I’m
30:31focused and and when I sacrifice I know what I need to do to do that and we all
30:37want to reach we all want to reach some levels of fame fortune and success I think so but however when you think
30:47about it the majority the majority of us are not willing to work for it which we just
30:53we’re willing to do the things we want to do we’re not willing to do the hard things that it takes and I don’t have
31:01the time or money if some people say I don’t have the time I don’t have the money or maybe it’s just I’m not built
31:07for this but I always tell people don’t lead like that you got to lead with optimism
31:12you should always you ought you should always be what you need to do when it’s
31:18time to feed focus it’s like watering a plant don’t take yourself too serious
31:23enjoy the journey and just just no mistakes in play you’re gonna come if you know that you’re gonna have mistakes
31:29and you’re gonna have failures and they’re gonna cure you don’t have to worry about anything other than that
31:35just be ready and tackling when it happens and most of the time we don’t we don’t look at life like that we have a
31:42tendency of of thinking that if these things come they’re coming for reasons
31:48that that are not know fitting for me so I just I just like to share with people you know think about that and we are all
31:54in this industry for finances and money that’s just let’s just let’s just get that let’s get that straight at the same
32:01token we all wanted to find that purpose but in order to find purpose you have to have focus and not settle I want some
32:10Q&A but I want people to understand that I do these webinars simply because I
32:15care I do these webinars whether I got one person or whether I got a hundred people and I do these webinars and
32:22really get people insight what’s going on what’s the head or
32:28what’s going on present presently and possibly for the future and as the CEO
32:33of ship share and co-founder along with my wife what I’ve learned so much about this industry is people I’ve learned
32:40more about people that I’ve learned about the industry because I know the industry I know different levels are not
32:46different I know different arenas of the industry and on how this how this industry works but when you reach out to
32:53people and you talk to people you start to understand why we are who we are why
33:00we think that what we think why we’re so passionate about what we’re passionate about but also why we don’t know what we
33:06don’t know and how can we learn more than we already know and who can we
33:12learn it from because you still have to do your own research but there are people out there that are really
33:17successful at what they do and because this is the ego driven industry sometimes we don’t take the
33:23opportunity to learn from others because we think we know so if you have any questions I would love to answer them
33:31and just follow up with them well thank you so much dr. Tighe amazing amazing
33:39wealth of knowledge that you shared I’m guys are going to open it up for questions now if you have any questions
33:44feel free to type into the Q&A box
33:53questions questions alright okay have no
34:02questions again feel free to email our team at hello as cher cher , we’ll get those formulas over to you guys so you
34:09can determine you know how much is my book of business worth today how much is my salon or barbershop worth
34:14today if I did want to sell it and then as an independent stylist or a cosmetologist and barber how much money
34:20do I need to make or how much how many clients do I need to have in order to make X amount of dollars in a given year
34:26we’ll get those right over to you guys enjoy the rest of your email go in today
34:33if I can say anything that’s gonna help anybody always surround yourself with
34:38positive people mmm great family and great friends alike do not let the naysayers get in your
34:46head and always challenge the status quo it’s the biggest thing you got to do
34:53though believe you can do it dream big and don’t look back Wow
34:58thinking Grow Rich guys have a great day bye bye
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