In this episode, Brett shares his tips for how to create freedom from your hair salon without actually selling or exiting it.
There are often misperceptions about the rationale and reasons as to why you might want to sell your hair salon at some point in the future.
Now, you’ll mostly hear me talking about the very good reasons why you may want to consider selling your salon. But there are other ways to exit your business.
And I wanted to make sure today that you understood the options that are available to you.
Because hair salon owners can achieve freedom in different ways.
In his book Rich Dad, Poor Dad, Robert Kiyosaki talks about what is called the cash flow quadrant. And this could be a game changer for many hair salon owners.
In its simplest form, the cash flow quadrant includes four ways to produce income: as an employee, through self-employment, as a business owner, or as an investor. And I think this is a foundational concept for hair salon owners to understand.
So today, I’m sharing the different ways hair salon owners can create freedom without selling or exiting your business.
[00:05:44] How to create freedom earlier in your career.
[00:07:03] Freedom #1: Remove yourself from your salon’s organizational chart altogether.
[00:08:07] Freedom #2: Become a shareholder of your hair salon business.
[00:09:16] Freedom #3: Cash out.
Looking for more tips for how to grow, scale, and ultimately sell your hair salon business? Check out our other Unchained From the Chair podcast episodes.