Nkd business essentials lesson 1 vision

1. BUSNESS
ESSENTIALS
L E S S O N 1 : V I S I O N
BUSINESS
ESSENTIALS
L E S S O N 1 : V I S I O N

2. 2 WHEN we hope to get to where we want to
go
1 WHAT the longer-term “plan” is for nkd
AT THE END OF THIS “VISION” LESSON
YOU SHOULD UNDERSTAND:
3 HOW we intend to get there!

3. THE VISION IS VERY SIMPLE…
TO SCALE UP NKD WHICH MEANS
REPLICATING THE NKD BRAND FAR BEYOND
THE EXISTING SALONS
 First, we want to have more presence
across the East Midlands.
 Then, we’ll look at the Wider Midlands
region.
 And then one day, maybe National
(who knows!)​

4. When?​
THERE ARE NO FIRM “DATES”
FOR THIS GROWTH
Instead, experience tell us that the
journey to further growth should
not begin until a number of key
“milestones” have happened or are
in place within the company.​

5. MILESTONE : 1 PROFITS AND
FINANCIALS​
THE SALONS NEED TO BE CONSISTENTLY
TURNING A NET PROFIT EVERY MONTH
(EVEN THROUGHOUT THE WINTER)​
WE NEED TO REDUCE OUR DEBTS
(THE MONEY WE HAVE BORROWED TO
GROW TO THIS POINT)​
WE NEED TO BUILD UP A SAVINGS
BUFFER IN THE BANK ​
1
2
3

6. MILESTONE NUMBER 2: SYSTEMS AND PROCESSES​
01 All systems, processes,
procedures and training needs
within the business are fully
documented (and not just in our
heads) so they can quickly and
easily be rolled out to new
salons
02 Every aspect of every
different job role is fully
documented, including the
wider responsibilities of that
role as well as the individual
day-to-day tasks and
processes of the role​
03 Existing salons prove
themselves to be capable
of following the documented
systems, processes
and procedures with the end
result that they’re running like
well-oiled machines so that
the day-to-day is
never a battle​

7. 02
WE UNDERSTAND HOWTO “TURNTHE DIAL UPAND
DOWN” FOR NEW CUSTOMERSWHENWE NEEDTO
(this is what Rebecca currently spends a lot of her time
experimenting with!)
MILESTONE NUMBER 3: ATTRACTING NEW
CLIENTS
01
WE HAVE A FORMULA FOR HOW TO
AT T RACT NEW CUSTOMERS AND WHAT IT
COST S US, PER NEW CUSTOMER

8. MILESTONE
NUMBER 4:
CLIENT RETENTION
We’ve found a way of systematically converting new clients into
repeat clients without relying on aggressive discounts.
1
We understand how to achieve consistently strong rebook and client
retention rates, also without relying on aggressive discounts.
2

9. TO
SUMMARISE
THE VISION:
TO SCALE NKD ( ) FAR
BEYOND OUR EXISTING
SALONS
01 Profits & Financials:​
Financially stable with
savings in the bank​
02 Systems & ​
Processes:​
Efficient
systems and
processes that
are easy to
follow – and are
being followed!​
03 Attracting New
Clients​​
Knowing how, and how
much, to attract new
clients​
04 Client ​
Retention​
Knowing
how to
keep our
clients
coming
back​
05 Team
Structure​
Having the right
structure and
people in ​place​