Introducing 'Mastering Your Financials' - A New Education Series By ABIC

There is no shortage of education at ABIC. On top of the website’s extensive resource centre, one of ABIC’s most prevalent points of difference is its calendar of live seminars and virtual conversations, which is absolutely jam-packed.

Each and every week you’ll find some of the industry’s leading experts and amazing success stories sharing their secrets on Instagram lives, interactive Zoom seminars, and Facebook live broadcasts. Well, ABIC has just launched a brand-new virtual education series that is set to top them all.

While some seminars may be more highly relevant than others, there’s one thing that ALL businesses have in common - and for some reason, it’s the one thing many businesses still struggle to get a handle on. That’s right, it’s FINANCES, and after hearing high amounts of regular feedback that this is the one area so many businesses struggle with, ABIC has decided to step in and lend a hand with a new weekly series that will help just about any business in the beauty, spa, wellness and aesthetics sectors.

The ‘Mastering Your Financials’ series has been created to help businesses learn how to achieve financial freedom and grow their profitability with practical, hands-on advice from industry experts.

A different expert will host one virtual segment per week for 2-4 consecutive weeks, with a new focus topic in each weeks episode.

This isn’t just a quick once-over: this is an extensive, in-depth and ongoing approach to beauty business financials that drills down on the nitty gritty, and gives you tangible tips you can take home and apply to your business.

The series hopes to help you finally understand the often bland, dull and difficult to grasp subject of finances in the workplace. Topics will cover not just the crucial elements like profit and loss, managing your cash flow and structuring your financial goals, but other elements like staff targets, discounting, product markups, loyalty pricing and everything in between!

Part one of the new series features Helen Golisano, Founder of Skindeep medi-spas, The Lip Lab Perth, and The Beauty Salon Insider. Helens episodes will be streaming via ABIC’s Facebook Live as she takes us through the following journey:

WEEK 1 – Turnover is EGO and Profit is KING. Learn how to know your Profit and Loss account inside out, where your eyes should go on your reports and why, what is your business’ break even, and why is this so important to know. Helen will also share why you should be paying yourself first and how to achieve this.

WEEK 2 – KPIs Key Performance Indicators. These are like your pulse that tells you how fit your business is. They can cover any aspect of the business from therapists targets and actual turnovers, the number of leads coming in, the rate of conversion into customers, right through to wastage and down time.

WEEK 3 – Cashflow Forecasting and Budgeting. When is the right time to expand or get that new piece of equipment, how do you know when to celebrate and reward the wins, and how do you know when and how much you can afford to use to reward that win?

WEEK 4 – Balance Sheets. This is not just for the bank when you want a loan. This is where the GOLD is hidden in your business. Helen also shares some knowledge you may need when you wish to sell or gain finance. She will also discuss debtors and creditors, whether you are working with your suppliers the best way you can, making the most out of their trading terms and keeping an amazing relationship strong. This is crucial for all of us to have a healthy stress-free working relationship.

So, if you are finally ready to take charge of ALL things related to finances within the business, this is an absolute cannot-be-missed!

All videos will only be available on Facebook to re watch for free for a short period of time, then they will be permanently available only to ABIC members via the resource centre.

Stefanie Milla

ABIC CEO