Issue link: https://www.ahpindiestylist.com/i/1544743
Explore your benefits at ahphair.com 63 OPERATIONS PLAN e next section should be your operations plan, which doesn't need to be very in-depth if you don't plan on having employees. is is where you would put your company's legal status, such as if you are an LLC and if you are in good standing with your state's Secretary of State. List any licenses you need to work and the status of each. Some cities require a business license to operate, so be sure to check before you start taking clients. You should also address other business logistics in this section. What type of insurance do you carry and is it sufficient? What are your guest policies (cancellations, reschedules, etc.) and what types of forms will you require them to fill out? Do you offer gi cards? What is your refund policy in the event a guest isn't satisfied? How will you do your accounting. What will your compensation plan be? If you plan on having employees, you will want to expand this section. is is where you would include detailed employee policies and procedures. You will want to list job definitions, responsibilities, expectations, sick time, PTO policies, training requirements, review periods, dress code, etc. You will also want to list daily operations to keep the salon running in your absence. Detail safety precautions, such as cash on hand and building security. Additionally, all businesses should make sure they are compliant with the Americans with Disabilities Act (ADA) and Occupational Safety and Health Administration (OSHA). OSHA has excellent resources available for anyone needing assistance in this area. SUCCESS STRATEGIES Lastly, it's important to list your success strategies. What steps will you take to become successful? Following are several steps that might be good to list: • Create short-term weekly goals that help achieve long-term goals. • Dedicate at least five hours a week to researching different forms of marketing. • Join more community groups to advertise in (mom groups, rotary clubs, etc.). • Prioritize self-care to prevent burnout and ensure long-term stamina. It's important to keep in mind that the more successful your business becomes, the more you have to lose. If you hire employees or grow your business, you will want to involve lawyers to keep you protected. Make sure they review all your forms, licenses, employee/guest policies and procedures, and your insurance coverage. It only takes one sue-happy client or disgruntled employee to ruin everything you built. HIT THE ROAD WITH YOUR BUSINESS Business plans are important because they force you to think about things you might overlook or avoid. As your business grows or changes, revisit your plan and update it. Like a road map is key to success for any road trip, it's more important to have a business plan that isn't perfect than not have one at all. Simply starting to think of all the pieces is a great first step. Remember, every successful business owner once started from nothing, and if you put your heart into it, anything is possible. Business plans are important because they force you to think about things you might overlook or avoid.