First off, your hair is looking fabulous today. 

Next, we know that you didn’t go to hair school just to run numbers all day. We know because we DID go to school  to run numbers all day and we didn’t learn a thing about hair there. We also know that it can be incredibly frustrating to try to understand a whole world of bookkeeping between your appointments, family time, creating content, etc. So we’re here to give you the Reader’s Digest version of what you need to know about finances as a stylist. 

1. Know what you’re making and what you’re spending.
   1. What you’re making is easy. Just add up what you’re charging. If you use Venmo, a payment processor, checks, cash…doesn’t matter. Just make sure that at least weekly you have totalled everything up. Don’t forget tips!
   2. Know what you’re spending. This is also something you should be totalling weekly. Think supplies, renting your station, paying an assistant, lunch on the clock, etc. Take as detailed notes as possible on this but don’t fret so much that you don’t ever do it. 

2. Keep everything organized.
   1. Our top recommendation for organizing your income and expenses is Quickbooks. The best thing about it is that it’ll help you generate reports and documents that will be useful come tax season. Plus, by having everything organized and in one place, you’ll know exactly when it’s time to raise your prices. Hint: It’s not just when your client load is too heavy or when your booth buddy does. It’s when your numbers tell you. 

3. Familiarize yourself with tax deductions
   1. As an entrepreneur, you might have been floored when you first saw your taxes. You might have thought, “wait I owe??? What did I do wrong?” The answer: Nothing. You did nothing wrong. But also, there’s more you can do and we’ll show you how. We have a whole guide on Tax Deductions. The goal is that you know what things to look out for DURING the year so that you’re prepared come tax time.  Also it’s free. So win-win here. 

4. Get the help you need (or want).
   1. Everytime we go to the hair salon, it turns into a mini therapy session. I mean who doesn’t do that right? So we’re going to unload some stuff on you now too: 

You. Don’t. Have. To. Do. This. Like at all. 

There are so many things available to you as far as finances go. The goal is that you can get back to what you love doing the most…being with clients behind the chair. To do that, you can accept any range of help:

 A quick strategy sesh where you go over your books and get clarity. 

A course where you learn how to do it all yourself 

OR pass the buck entirely and send your books off to the professionals

You get to decide what’s best for you and your salon (Hint: it’s not bangs)

And while we’re confessing…

Stylists have a really special place in our heart and in our business. We feed off your passion for life and business. You guys are where you are for a reason! You’re really good at what you do. So please PLEASE let us know how we can help you be the best that you can be! 

Alright that’s enough sap for now, We’re gonna go back to stalking your before and after videos on Insta. 

Kbye <3