Measure, Learn, Grow – 7 Business Tips From The Ten Spot’s Kristen Wood

June 12, 2015 James Rubec
Kristen Wood, Creator & President, The Ten Spot

Kristen Wood, Creator & President, The Ten Spot

Kristen Wood started The Ten Spot beauty bars after being laid off as a graphic designer – she cooked up her business plan in one mad-hattered evening and managed to secure a loan to get her dream off the ground.

Then through happenstance and a liberally worded email to her connections she managed to create great buzz around her brand, The Ten Spot Beauty Bars. She’s grown her all-nighter business plan into 14 franchises from Downtown Toronto, to Vancouver, Hamilton, Ottawa and beyond.

Based on her experience growing The Ten Spot, Wood shared her seven tips for growing a business with processes, procedures at Dx3 2015:

1. NPS Score – Net Promoter Score

You can’t improve a process that you aren’t tracking and one of the best ways to do this is through a net promoter score. You start by asking people to rate your service and you evaluate how well you are doing based on their responses. That means every time you rate someone out of five on their service you are building into their NPS score.

No matter what type of feedback people give you, respond and engage.

2. Learn from your competitors

“Everyone loves Tim Hortons Roll up the Rim and every coffee retailer gets hit because of it. So what did McDonalds do? Through Roll up they just went ahead and made their coffee free. The result has been a 30% increase in sales in the period, you get a free coffee and you buy a muffin ─ it is that easy.

“Tim Hortons learned from McDonalds too. When they brought in McCafe they really improved their coffee product line and the experience in store. I mean I said to myself ‘yeah I’ll sit in your shop and enjoy your WiFi’ Tim Hortons did the same.

3. Protocols and procedures – build them

“All of those wonderful things your team does, if you don’t write it down somewhere and train new people exactly what to do you’ll lose it. Today in 2015, it is easier than ever to share these types of training materials, with quizzes and sharable documents you can even track whether your teams have actually done the training you’ve given them. I use Google for enterprise and it lets me send my team surveys and we’ve made a free internal website to store these types of tools. It has made a difference.

4. Respond to every comment

“No matter what type of feedback people give you, respond and engage. Be sure that your comment box is manned and it isn’t just an anonymous space. My comments get viewed by myself and my CFO. You should respond to these people and share that feedback with your teams. What I do is I anonymize the negative comments and package them as feedback to an employee or team in a more palatable way, some comments can be really harsh. With positive feedback, we post the messages for the employees to see. It is an amazing motivator.

We were looking to shave minutes off of procedures, because minutes turn to hours and time is money.

4. Implement changes based on comments

“All of this tracking will mean nothing if you don’t implement changes off of the information you receive. If you see that when you put a new employee who’s been trained onto a specific service is receiving poor reviews, pull them off of that service and retrain them and don’t let them back on it until there has been an improvement. This could be with your process, facility or people, but listen to the feedback you receive.

5. Tier your responses

“When you have issues, it is important to standardize the rules of the game. That goes back to your procedures that you have in place. We had an issue with a nail polish, it was chipping in five minutes – but we were able to track it and give people discounts that were relevant to the issues the polish created. It gave us leverage to speak to the manufacturer and we were able to respond quickly and prevent further issues.

6. Go lean

“We’ve learned from Honda’s lean manufacturing methodology that is built to reduce the amount of time required to complete a task without sacrificing quality or service. At The Ten Spot, we were looking to shave minutes off of procedures, because minutes turn to hours and time is money. Even a small difference can result in increased profit.”

For a full review of the Dx3 Conference Speakers, download the Dx3 2015 Session Review Presented By Moneris.

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