This is the first post in a series that will talk about how to run a successful service-based business. Whether you are a hair stylist, a massage therapist, a barber, esthetician, or yoga studio, these posts are for you.
I have mentored and advised countless numbers of entrepreneurs over the years. One of the first pieces of advice I give them is: “Don’t ignore the low hanging fruit.” This mantra refers to the things you can do for your business today that can have an outsized impact – the biggest bang for your buck. This post is about that.
Have you ever booked an appointment (maybe a restaurant reservation) and a few days before that appointment, they send you a text message reminder to your phone. “We are excited to see you at 8:00 PM on Tuesday,” the text might say. They do it because it reduces the chances that you won’t show. “No shows” really hurt a business’ bottom line. If you are in the service industry, you inherently understand this.
But here’s the kicker, according to our research, close to 1 out of every 2 of you that reads this post, will not have text reminders turned ON in your scheduling software. And here’s the thing. If you do turn it ON, most of you (66% to be exact) will see a reduction of at least one “no-show” per month. If you use a platform like Schedulicity, text reminders cost $5 a month. Let’s assume that your average service charge is $50 and you get one less no-show per month as a result of using text reminders, then your return on investment is 900%. That’s really, really good!
So let’s boil it down. Close to half of you reading this are losing out on your biggest bang for the buck. My goal with these posts is to make you a better entrepreneur and business owner — to help you succeed. If you only take one piece of advice from me, this is it, my very first one. Turn ON text reminders in your scheduling software.
About the author:
Greg Rogers is Chief Operating Officer for Schedulicity. He is also a tech investor, having mentored and advised hundreds of tech entrepreneurs from around the world. He holds a BA from Harvard and an MBA from UCLA.