0023 - Emotional Discounting in the Beauty Industry

The High Cost of Emotional Discounting in Your Salon Business

In this episode of the Empowered Stylist Podcast, host Angie Mamone delves into the concept of emotional discounting and its impact on the beauty industry. Angie begins by defining emotional discounting and sharing personal experiences where emotions influence business decisions. She discusses the long-term financial repercussions of this practice and offers strategies for separating emotions from business decisions. Angie also addresses a listener's dilemma involving a client who consistently underpays for services, emphasizing the importance of setting clear pricing and boundaries. She concludes with exercises for identifying discounting patterns and encourages stylists to reclaim lost revenue for personal and professional growth.

00:00 Introduction to Emotional Discounting

01:31 Understanding Emotional Discounting

03:55 Long-term Effects on Your Business

04:47 Real-life Example and Coaching

06:04 Setting Boundaries and Pricing Strategies

11:23 Managing Client Expectations

23:41 Conclusion and Final Thoughts

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