698: Profit is Personal, with Nina Tulio

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We have the woman here for a fourth time. One of my favorite all time industry experts, speakers, podcasters herself, social media, you need to be following her. This is Nina Tulio. Yes, she is here. She is a respected beauty industry speaker consultant and salon business educator known for helping salon owners build more profitable sustainable businesses without sacrificing their purpose or personal well being with years of hands on leadership experience in the salon industry. She has become a trusted voice on topics, including profitability, leadership operations, culture and financial confidence. Nina recently authored the book. Profit is personal and unfiltered guide designed to help salon owners create businesses that support both meaningful lives and strong financial performance through her speaking, coaching and education. Nina empowers beauty professionals to lead with clarity, confidence and intention while building businesses that truly work for them. Welcome back Nina Tulio. Thank you. I'm so excited to be here. I love our chats. I can't believe this is the fourth time. So for a real listening, first off, watch our episode because you get to see the faces behind the names and you get to see me hold up this book. This is Nina's book. When it was out, I was like, I'm going to get this right now. Love it. Reddit. You're support truly. I appreciate it. Absolutely. And we'll have the link in our show notes for everybody to buy her book and also a link to our previous episodes or she talks about recovering and rebounding your salon leadership, seeing your stylist booked and busy, overcoming financial burnout. And today, the profit is personal. So here's where I want to start Nina because a lot of people are already following you. If you're not, I have the link in our show notes for you to go follow Nina on Instagram. You have to. It's so I learned so much, even from the post. And by the way, with the book, I wrote, I quote you and share something I learned from you because you help so many people, whether they're independently running their own salon business or they are a leader within a team setting. So I love you. And I'm just always such a fan girl because you bring such a value to this industry. Oh, thank you. My goodness. Great. You're going to make me cry and we're only in a few minutes. Thank you. I appreciate you. I do. And I'm just always so proud of you. I'm always cheering for you too. When you wrote your book, I remember I was like, hey, I've been working on this too. But please, you have so inspired me to get my foot on the gas with this whole book situation. So I'm so grateful for your push and for your guidance as well. Well, I like that we can be real with each other and just there for one another because sometimes it can feel like a lonely industry when you play a leadership role of some kind. So here's where I want to start. Why is this a passion project for you? What about this topic is like all the things you could have wrote about with all the history and experience you have in this industry in every different kind of category. Why this topic of profit? Well, listen, it took me a long time to get here. It was years of me not writing a book because I couldn't pick the topic. And yes, I have so much experience in doing this and I've been in this business now, you know, 29 years. I just feel that there is such an emphasis on, hear me out, the finances and the finances are important for profit. We absolutely have to understand our numbers. We have to know what our payroll percentage is, what our rent percentage is. All of those things are incredibly important. But I have often found in my years of doing coaching and working closely with owners and independents that profit is weaved into every single part of your business. It is part of your leadership. It is part of your people first culture. It is a part of your systems and, you know, client experience. And so I wanted to write something where it was real and it was authentic and it was true and it was something that really aligned in a way that would maybe get people to see profit a little bit differently. It is personal. Chapter one is all about you. That is chapter one. It is all about you and kind of discovering yourself and understanding that you are the force behind this business and we've got to get ourselves right, you know, so we can lead properly and we can build people first salon. So that's where it really came into. I didn't want people to feel like finances. That was the only focus to make profit. It's really weaved in every single part of us, including you. I've underlined quite a few things here in chapter one. If you're not growing either as your salon, what happens with salon owners that they kind of put themselves on the back burner in their own development? Well, I think it's a little easy to, I'm speaking from experience here. It's easy to avoid our own pain and put ourselves into our project, which is our business and grind and we tend to start to work and focus on marketing and advertising and leading and attracting teams and all of those things, which are very important. But we forget that in order for us to lead in the right way and create a people first culture that we have to be good within us. And so a lot of times and again, I avoided a lot of this stuff because like the stuff within me because it was painful. And so it's easier to go down the route of being busy and being active, but active doesn't mean productive. It just means that we're doing things, but what kind of result are we getting? And I think that it really is important to take a step back and look at your part in your leadership, in your systems, in your business. And when you start to do that and you start to pay attention to self reflection, if you start to pay attention to your own habits, patterns and behaviors and the way you make decisions and where they come from, it makes you a well-rounded, more diverse and empathetic leader, which is what we need. I feel like in this industry now. Well, I really respect that you have unending seasons of growth because you did a Harvard kind of curriculum program. That's incredible. You went through Tony Robbins, coaching and whatnot. And so that is what you're encouraging owners to do. Hey, in the midst of running your business, grow yourself. Yeah. And your business will grow as well. So I think that's huge. What do you want owners to take away from? Really the first portion of the book is where you dive into yourself. So what are those main things? Like at the end of the day, here's the few things that you really want to focus on so that if you're good, the business is going to grow the business will be good. Well, it's interesting because I think a lot of us, and I say us, because I used to lead from fear. A lot of us lead from fear. And that fear typically comes from insecurity. And it's a lot of the reason why we become yes. people to our teams and even to our clients. Where it's like, yes, you can leave early. No, you don't have to come in today. Yes, you can do whatever you want and create your own schedule and, you know, what have you. Sure, you can talk to the client that way, right? We've become yes people because we're leading so much from fear that we're so worried that they're going to leave. And when you start to do the inner work and you start to see your own value and you start to understand your brand in a different way, you start to understand how much value your brand has to offer and you start to understand the depths of creating a people first culture. Again, this all stems from you and feeling good about yourself and how you talk to people and how you make decisions and how you include other people because when you're insecure, it's hard to include other people because a lot of times you want your voice to be the only one that's being heard. But your team is like, include me, invite me, welcome me in, you know. So I think when you do the work on yourself, you start to lean into your insecurities a little bit more. You start to accept them. And I think one of the biggest things that I learned in therapy, I've been in therapy since I'm 21 years old. One of the most powerful sessions that I ever had was I remember saying to her, she's like, what are you looking for? I said, I'm looking for peace. I'm looking for peace. I was like looking for peace like hardcore and she was like, Nina, you're not going to find peace until you find acceptance. And acceptance comes with accepting you in all shapes, forms and sizes, meaning your insecurities, meaning your mistakes, meaning your flaws. And it literally blew me back in my chair. And I was like, all this time I've been searching for the wrong thing. And so leaders, when you start to accept yourself, your flaws and all were all a work in progress. That's when you start to become a better leader. That's when you become a better listener. That's when you realize that people first cultures and inclusivity and inviting them in is key to a financially sound business. Yeah, that's where I wanted to head with it is like, how does this intertwine with profit? How do you see that unfolding in the relationship? Personal and then other, you know, all that. Yeah, I mean, when you are working from a space of fear, you're not making the best decisions. And when you're not making the best decisions, that can mean you're not hiring the right people. I talk about in the book, I have my entire 30-day interview process and people are like 30 days, what the? No, what do I mean? Like, what are you doing? But it's so intentional that when you take your time and you bring the right people into your space, the retention is a lot higher. So I feel like when you move through the fear, you make better decisions when it comes to hiring. You make better leadership choices. You're more secure in the way that you lead, which means you can share your mistakes. You can be more vulnerable. All of this stuff does turn into profit, right? When you're fearful, you hold everything so close, you don't let energy move in and out because you're holding so tight onto all of the things. When you can breathe a little bit and you feel good about yourself and you know what you have to offer and your value, you can let that energy move in and out, which means you're inviting in great people, which means you're inviting in their voice and their opinion. And that all ties into profit. It doesn't just have to do with understanding what your payroll percentage and what your backbar percentage is. I know a lot of owners that can do that, but they don't know how to lead people and they don't understand themselves. And a lot of times they fall flat because they have high turnover, high turnover hits profit, right? They don't have the right systems in place, wrong systems or lack of systems, no no show policies, cancellation policies, that hits your profit. So all of these things really, really are intertwined in a much deeper way than people realize. That makes so much sense. And it really does come down to learning how to lead yourself and then others. Sure. And being that inspiring bold, confident, secure person. So I love that when we get into the nuts and bolts of the financial side of it, I find that we just don't have what every other industry has, which is standardization. So what we're, okay, and there's been lots of trends. Now I'm seeing, and by the way, this is one of my favorite reasons of following you on Instagram because you will be like, here's something that y'all thought might have worked and it doesn't work. Like you share straight up, this is a myth or this isn't the way to think about it. So very bold. I love it. What are some of the trends you've seen? For example, right now I'm seeing don't actually force people to put a credit card down to reserve appointments for their first visit. That can be a barrier. Are there anything that you're noticing on financial acumen that can help honors listening today, whether they're independent or they lead a team that can be a really great approach to what most people don't have, which is that financial acumen of running a business. What are your thoughts? Well, when you talk about trends, I mean, there are a lot of things that I think during COVID went sideways, meaning we're no longer pre-booking. We're no longer taking appointments further out. We're not booking out far. We're only doing one or two appointments, which in a sense I do agree with that. We're not booking out six to 12 months anymore. But there were a lot of trends that came up. We're no longer working nights and weekends. We're working three days a week and we're expected to do that and make full-time money in a real part-time schedule. And then it was we're not promoting that we're hiring anymore on Instagram or social media because that means that we're desperate. And all of these things do tide to your bottom line. And businesses, I have been saying this for years, businesses are not built on trends. They're built on systems and solid systems. Now, it doesn't mean that we're not going to ebb and flow with the change of the tide in our industry because one of the instances is, are we booking out six to 12 months anymore? Not necessarily. And in some cases, it may work for your business. But in most, it's booking out maybe an appointment or two. But to not pre-book, that's detrimental, I feel, to a business. Has it changed? Yes. Are people booking more online? Yes. But it doesn't mean that we're just going to totally do away with that. That hits bottom line. Not paying attention to retention. Everything got so heavy during COVID of fine clients. On Instagram, go heavy, Instagram, post-post-post, get clients, get clients. Well, A, you have to know who you're attracting first. B, it went so heavy on the attracting that we forgot that we have to keep them. And so you can get 10 new clients, 50 new clients a month. But if you're not keeping them, your business is not growing, which means you're going to have to work harder. And so I think with trends, what you see on Instagram does not apply to every single business. Now, someone who maybe wants to do like an opening and closing, meaning they open their books on a certain day, once every six weeks, they open it, they fill them, that may work for them because they have that demand and their business can afford to do that. That doesn't necessarily work for the everyday stylist. And so I think sometimes the trends are more generalized and people take them because they believe everything that's happening on Instagram is just like hourly pricing. No shade on hourly pricing. Hourly pricing works for some people, but for most, it doesn't work, especially if you're an efficient stylist. Now you're making less because you're efficient, right? That doesn't make any sense. But some people love hourly pricing and it really aligns with them and it works with them. But there's a big marketing component to hourly pricing that not a lot of people are talking about. So I think it's really taking a pause on what you see on Instagram and saying, does this really align with my business or am I just following a trend? And just kind of one more thing to add to this, the answers that you need to elevate your business, to grow your business, to grow yourself, they're not on Instagram. They're in the four walls of your business. They're within your reports. They're within all of the systems that you've created. That's where you want to get your data because it gets scary, comparing and it gets that's where the fear comes from. Oh my god, they're doing XYZ and I'm not doing that and look at what they're charging and I'm not doing that. Look within your business first. That's going to tell you everything that you need to know when it comes to making decisions, especially financial decisions. It's so important. And I think this is where owners get so insecure because their biggest influence are within the four walls. It's their team. And the team is going to see the things that are cool on TikTok or Instagram. Going to the owner, the owner's a yes person. They don't want to have to shut it down and be like, no, that means that we're more influenced by strangers than one another. So how do we fix that? Like how do we create that balance of mutual respect and trust? Because that to me comes down to let's trust one another. Sure, sure. Well, here's the thing. You have to know who you are, who you serve and how you do it better than anyone else first. You have to have core values and admission first. When you have that down pat, you do not waver. Your team can throw five million things at you. This used to happen to me in my salon all the time. And they'd say, oh, I saw this or we need that. I'm like, time out. Let me hear you. Please tell me all the things, but it doesn't mean I'm going to say yes. And I'm going to tell them why. Because I love that idea. However, it doesn't align with our brand core. values, mission, and systems, and here's why. And I think that when you have the confidence in your business and you're no longer leading with fear, you can do that. And so I think sometimes you have to take it back to the basics. We have to take it back to the foundation. If the foundation is not solid or it's cracked, we tend to stand on one leg, which means any little windy piece can blow in and blow us over. Those windy pieces are Instagram trends. They are the team coming to you. And I think it's so important to listen to your team because they have great ideas and they see things that maybe you're not seeing. But it doesn't mean that you're going to try everything. Because when we try everything, really only one or two of those things may align with your brand and values. So we got to get steady on that first. And then you can tell them, I love that idea. But and even turn it around and say, but you know our core values, right? This is you talking to a stylist. You know our core values, right? Do you feel that that aligns? Do you feel that not pre-booking at all aligns with our values in mission? Yes or no? So invite them into the conversation and start asking them questions because they have to think it while we wait a minute. I didn't think it was a good idea when I saw it on Instagram. But when I come to think about it and look at our values, you know what? No, it doesn't align. Keep bringing all the things. Thank you. I appreciate it. But we are going to make decisions here that align with our values mission in vision first because it's my responsibility to keep the doors open. So I got to keep my head on straight. I can't get distracted by the noise. Well, that's just it right there. There's a lot of noise and there's a lot of distractions out there. So I love that your book really guides that process because you do go through those elements within the book. What else can either independent source on owners with teams benefit? What can they take away from your book? I think the biggest thing is there's a couple things. The financial aspect is important. That's the last chapter. I think that the first chapter and really diving into self is incredibly important. But the one thing that I will say in terms of a system is that hiring process. It is probably one of the most important yet one of the most overlooked systems in a business. And that hiring process of the 30 days. So it's a 30 day interview process. And then when we hire them, there's no probation period. People think I'm insane. I got that from the Harvard business culture and leadership class that I took. And at first, I thought it was crazy because I remember saying to my professor, I was like, time out, there's no probation period. What do you mean? And he said, I understand your hesitance. But let me tell you the other side of it. When you interview people, you take your time with them, you have, I have a four step interview process. I go through that in the book. When you go through this and you spend time with them and they are proving themselves time and time and time again through the interview process. Why are you going to invite them in and say, you're in, you made it now. You still have to prove yourself for 90 days until you actually fit into the team. There are studies out there that show that it lowers morale. And it lowers their engagement when they're there for the first 90 days. They're not themselves. You don't get to see themselves because they're walking on anxious and they're trying to be someone that they think you want them to be. But if we invite them in, we send them the offer letter and then right away, we start coaching them, nurturing them, walking them into the team and like really in grossing them in the culture right away, they're engaged. They show up and they get to be themselves. Now I will say this because they do get pushback on it. It doesn't mean that you're not going to have reviews every 90 days. They still get reviews. It doesn't mean that just go nuts and go ham and do whatever the hell they want for the first 90 days. There is still a process of a performance review every 90 days and then six months. And then of course after their year. But imagine hiring people and saying, wow, you made it through the 30 day process. Welcome. You are an official member of our team and you are already aligned with our culture. Let's get to it. I have goosebumps. Yeah. Because everybody, the reason I feel strongly about that is because when you're on the other side of that, that's your biggest hope and dream. There's going to be a company and group and a team that sees you, that wants you and that chooses you. And so that feels just the best to have that be how it goes. Yeah, they feel included right away because nothing's worse than being the outcast for 90 days, trying to fit in. I want to get into one more touchy topic. Sometimes, when it's really been interesting, it's the pricing model. Now you brought up the hourly and how that's really been not a great fit for majority of people as a trend. It can work for a couple here and there. But where do you see the most success when it comes to pricing and how to continually look at that? Because if you're a major corporation, you're doing this systematically. Like every, they have benchmarks. This is how we look at our pricing. This is how we know what stays, what goes, what it's going to cost. What's your approach for our industry? Well, number one, I have a three tiered system that helps people price their services where we start with budgeting first, then we go into price per minute, price per hour, and then we go into price per service, cost per service. So there's data. And we're getting data from your business. We're not going to Facebook. We're not going to Instagram. We're not seeing what's going on. That's the data that we need in order to make proper decisions when it comes to pricing. Number two, price transparency is at the top of the client's wants list. And if we are not transparent with price, we're losing clients. Retention is down. So you have to understand how to be transparent when it comes to your structure and what the price actually is. And that includes product costs too. Yeah, give me an example. So if you go to a salon, what would it look like if they did not have pricing transparency? Because what I think from a consumer perspective is like, oh, I don't know how much when I go to your website, I can't simply see how much it's going to cost me to come into that. What it means or is there more to it? Well, yes, we have prices on the website of course, and everything is plus or n up, right? Because there's so many variables. But then when they come into the salon and you're having your consultation, and I suggest extending a consultation 15 minutes with new clients. So you can have these conversations. It's like, hey, Judy, this is your first time here. We love to talk price with our new clients. So that way we're on the same page. And of course, you can ask any questions while we're here. Does that sound good? Perfect. I just want to let you know today, first we operate off of package pricing. That's what for me. I feel like package pricing is a great model. So I would say we offer package pricing, which means that your price today is going to be anywhere between 250 and 300 based on the results that you're looking for in all of the images that you showed me. And here's the breakdown of what that 250 and 300 gets you. Now you may be wondering why I'm giving you a range of 250 to 300 because once I get in there and I start working on you, if I have to add more product and if I'm going to spend more time working with you, then it's going to cost more. So I'm giving you the best case scenario of 250. And then I'm giving you the worst, which would be 300. And that does that align with you and what you're asking for today? What a difference in the way you communicate. Yes, that's price transparency. It's not like, hey, this is what we're doing today. I'm sure you read our prices on our website and I'll be back. I'm going to mix. That's not price transparency. It's really getting into it. And if someone says, you know what, that's a little bit higher than I was going to pay today. We don't revert back to discounting because if you're with me and you're a client or gone through one of my courses, you understand that three part system. So you already have backups. Okay, no problem. We can't do the full bonding service today. No worries. Let's talk about what the partial is. That's going to be anywhere between 175 and 225. And this is what it's going to look like. So I would show a picture to validate that you're not going to get what you showed me, but we're going to get pretty close. So I think that's what price transparency looks like. And I think the breakdown, like people are getting bothered because clients are asking for breakdowns of pricing. As they should, it's their money. They should know where it's going. And you should be able to break it down even though it's in a package. Well, and this is not a skill that's being taught. So we almost need consistent, you know, it's funny because working with engineers in my field, and I will be like pretend that you're sharing with me a customer or a client or a partner what you're trying to say. So I'm as a sales rep for the company. I'm on the same page as you. They say it out loud and kind of fun, a little, and it's good practice. We don't even do this anymore. We don't practice. How is it going to land? What is it going to sound like? So we tell the team, hey, during your consultation, you really need to talk price, but I love that you just went through a mock example of let's actually teach you how to have this conversation. I don't know why to me. It's like that small thing that nobody's doing. That's such a big thing. For sure. Yes. Look, I used to have to share with my team how to do this because it's very nerve-wracking for them. And I didn't always talk price in my services when I first opened my salon and I was very open with this and I got a really bad Facebook review. Me, I did. And it was because I didn't talk price in the consultation. And I refunded her money. That's another topic. No refunds, no like go, no, it's very situational. Sometimes you just have to give a refund. She was in town for one day. She was going back to Utah. Yes, I'm going to give you your money back. By the way, if I give you your money back, please. please take down the freaking - Yeah. - So, you gave me, she was like absolutely yes. So, I think it's really training your team on how to do these things in spending time with them and really making sure that they're comfortable doing it over and over again and be, and I watched it with my own team. They were so nervous at first and then they would do it and then I would pull them in the back and say, "Look, I know you're a little nervous. This is what I overheard. You did great, but here maybe we can tweak a few things, right?" Boom, they go out the next time they do it, they get a little bit better. Then they get a little bit better. You're constantly coaching as an owner. You should be coaching your team every single day, not for 30 minutes for two or three. There's always teachable moments in the salon and I think the more you spend time doing that, the more your business grows, more profit. - Literally, right? 'Cause that is personal time with them and it's gonna lead to profit. - Yeah. - Perfect. - Okay, we could go down every single trail within the book, but I want people to go get it for themselves and there are sections you're actually writing out things. You're writing your reflections and I love that you give people almost like a little homework at the end of each chapter. So, really before we wrap it, what would be some final words of wisdom when it comes to profit as personal for everybody listening today? - I would say the key to success and even happiness is to really learn to trust yourself and listen to your gut. And so many times we get distracted by the noise, we get enamored by the shiny thing. And I would say, stay in line and in tune with your brand, your values and your mission, understand why you started this business in the first place and when things are thrown at you, always lean in on your core values and mission and listen to yourself and your gut. Nobody knows your business better than you. Don't get distracted. You like put the blinders on, you know? And really believe in your magic, you know, it's really hard to start a business. It's really courageous to start a business, whether you're solo, you're a commission salon owner or you're a booth rental owner. It's a courageous thing to do. And you did it for a reason. And so make sure you listen to yourself and listen to your gut and trust your decisions. You are an amazing speaker and I love coming to listen to you speak. So you all need to follow Nina, so you know the different industry events that she'll be at next and just soak it in. We have all the links in our show notes to be connected with her. And again, my friend, thank you for being with you today. Thank you so much for always being so supportive. I just love you so much. So thank you. I appreciate you. Thank you. I love you too. Thank you all for joining us here, we care for you. If you appreciate this platform, please take a moment, leave us a five star review wherever you're listening so that more people like you will discover beyond the technique where we're here to change the way that you are supported in your business. Till next time, have an awesome day and stay strong. Hey friends, it's Katie Whitlage here. And I've got exciting news. I wrote a book just for you. It's called, from first date to forever, how to market like a matchmaker. I packed it with my top marketing strategies, real campaigns for my own salon, and insights into how consumer buying behavior mirrors the way we fall in love. Just like dating, your dream clients go through a journey. One that starts with desire and ends in lifelong loyalty. When you understand the nuances of that process, you'll attract and keep clients who love you. Grab a copy for yourself or your whole team by clicking the link in our show notes, or you can buy on Amazon. Let's go from first date to forever.