10 Things I’ve Learned in 10 Years of Business
In May of this year, amidst a global pandemic, Copper Lane Hair Studio celebrated a major milestone:
We turned 10!!
Do business’s age the same as dogs?? Maybe not 7 years, but how about a 3 to 1 ratio? For those of us who have raised their business like a child, I would equate it to my first born turning 30, graduating with a Double Masters Degree in business and marketing, and gaining more confidence in who they are, who they want to be, and who they want to surround themselves with.
I don’t know about you, but when I hit my 30’s I was like YES!! This is what it’s supposed to feel like!
For those who don’t know me, hi I’m Lane. The Lane behind Copper Lane. I’ve been in the industry since 2000 (which is creeping into the year some of my stylists were born 🤦♂️), so you could say I’m a veteran in this beautiful, creative, ever-evolving industry- one that I absolutely L.O.V.E ***side note, did you know that the average “lifespan” of a stylist is 7 YEARS?! If your stylist has more than 7 years of experience, they are considered a senior in our industry! This stat BLOWS me away (but we’ll save the reasons for a future post).
Let’s get back to why I’m here. After 10 years of owning and operating a business, here are 10 things I’ve learned...
1. Just Because You Own the Place Doesn’t Mean You Know Everything
I am constantly asking my team for feedback and ideas, delegating my weaknesses to others’ strengths. It truly takes a village. Plus, when you give others responsibility in the business, they in turn take ownership. My biggest compliment is when someone asks who the owner is because each of our team members treat Copper Lane as if it’s their own.
2. Treat Others the Way You Want to be Treated
This is the golden rule for a reason. It is the best way to meaningfully and effectively run a business and manage a team.
3. Keep Notes and Lists to Stay Organized
I have a hardcover notebook with me at all times. I refer to it as my “bible”; it has thoughts, ideas, product orders, meeting notes, to-do lists, phone numbers, messages, conversation snippets...essentially everything that goes through my brain gets jotted down. I keep these notes and refer back over the course of my years in business to see our progression; it’s amazing to reflect and see how far we’ve come.
4. Stay Connected
At Copper Lane, we have monthly team meetings as well as one-on-ones to check-in and see where everyone is at. We also have a group chat where we talk about things that don’t require meetings, share pictures or memes, send birthday wishes, and so on. This method of communication helps to cultivate the team’s culture and keeps us connected. We utilized this feature nearly every day during our COVID closure; even though we couldn’t be together in person, we were together in spirit.
5. Your Team Matters
A business is nothing without its team, and hiring out of desperation can be detrimental. It’s so important to surround yourself with those who see and encourage your vision, people who challenge you in a positive way, people who create value in your business. It takes some serious effort to nurture potential in people, but the payoff is huge!
6. Education is the Best Investment You Can Make
I live by the rule that knowledge is power because it supports one of our most powerful abilities: growth. Our industry changes at a rapid speed, and if you're not up with the times, you're getting lost in the move. It can also unlock that creative door of looking at things in a different light, and inspire others to do the same.
7. Time Management is Key
Running a business is not for the faint of heart. It is a constant labour of love, changing on a daily basis while demanding more of your time, will, and energy than often expected. It is so important that I schedule office time at work. In the past I was trying to do it all, which left me feeling... can I say resentful?! Scheduling and delegating specific time for specific tasks has saved me! Professionally, I have time management down pat; personally...still working on it
8. The 9-5 Doesn’t Work for Everyone
This one hit me like a ton of bricks when we reopened after our COVID shutdown. With our new regulations, I’ve had to split our team, extend our hours, and shorten the amount of days we work. Fast forward a month, and I’m looking at a whole new way of scheduling our business. Who says we have to work 5 days and 40 hours a week?? I now recognize that we can all work smarter without compromising our level of service. I’ve found this schedule aligns with the 2020 work/life balance buzz, and surprise surprise I don’t hate it!
9. A Vision for Your Brand, Values, and Goals is VITAL!!
6 years ago, I took a business course on how to set goals, and it literally changed my life!! Not only did I learn about goal setting (and leaving nothing out), but I also learned how to come up with a vision statement, a mission statement, and core values for both my personal life and my business. What do we want to be known for, what is near and dear to our hearts, how do we want people to remember us? What am I not willing to compromise on? Remember when I said my business is in her 30’s? Well I feel like this was an undergraduate course that set the tone for our future. You can’t get to where you're going if you don’t know where you're supposed to be!
10. Authentic Customer Service is Free
This is the first thing I say to any new team member. It doesn’t cost a thing to be nice to people- to smile, to strike up conversation, to call them by their name. It shows them they’re valued and welcomed into our space, especially in times like these; when there is so much hostility and uncertainty in our world, being kind serves us all.
So that’s that! Thanks for sticking with me through this new blog thing! We’re so looking forward to connecting with you on a digital level as we offer you more insight into our salon. Leave a comment, and make sure you subscribe to our newsletter for all things Copper Lane!