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A lot contributes to a business owner’s overall health; however, I think mental resilience is the most important. It’s easier said than done, but managing stress effectively is the most important thing a business owner can do. Things will always be thrown our way and in our way, but being able to stay adaptable, clearheaded and in a growth mindset is how we win.
Nimisha Patel
Owner
Galaxy Home Recreation
Six locations across Oklahoma and Arkansas
As a business owner, my journey has been about embracing a strong mindset, practicing kindness and staying aware of industry trends to foster growth. A positive, growth-oriented mindset is crucial — it influences everything I do. This mindset helps me tackle challenges with resilience and seize opportunities enthusiastically, creating a culture of innovation and adaptability within my team.
Someone recently told me, “You can get too big.” Not in my mind. To think that way would limit our success. Growth is essential. There’s always room for expansion and improvement with the right mindset and systems.
Kindness and understanding are at the heart of how I lead. I aim to create an environment where my team feels valued and empowered. By keeping the lines of communication open and truly listening to them, we build trust and collaboration. This approach boosts team morale and translates into exceptional customer service. After all, a happy team means happy customers, which is essential for sustainable growth.
Staying on top of market trends is also a priority. I’m always on the lookout for industry advancements and evolving customer needs. By understanding what our customers want, I can adjust our offerings and stay ahead of the competition. This proactive approach keeps our business relevant and growing in an ever-changing world.
In the end, blending a positive mindset, kindness, trend awareness and a focus on growth has been key to building a successful business and creating a healthy mental environment for any business owner. By focusing on these areas, I grow as a leader and nurture a vibrant, innovative and customer-focused company culture.
Whitney Elliot
Innovative Spas
CEO
Two locations in Virginia Beach, Virginia, and Sarasota, Florida
A business owner’s financial health is crucial for stability, growth and peace of mind. The spa industry has unique challenges, but careful planning and strategy will help ensure short- and long-term success.
- Plan for seasonal peaks and slower periods by offering year-round route service contracts and maintenance requests.
- Prepare for cost fluctuations in supplies and chemicals by staying informed of economic and catastrophic events that may impact supply chain and cost, affecting your profit margins.
- Avoid overstocking products and practice just-in-time ordering. Also take advantage of early buy and bulk discounts for higher-turning products. You can also negotiate better payment terms.
- Optimize labor costs by cross-training field technicians to be more efficient, while handling more complex jobs and avoiding multiple service calls.
- Manage cash and debt by building cash reserves while decreasing the line of credit and loan balances. Having cash set aside for unexpected downturns demonstrates the company’s financial stability.
- Ensure proper liability insurance.
- Target marketing for luxury pools and spas yields higher margins, as well as offering products that will enhance the homeowners’ experience, like routine service and automation. Develop a marketing plan to generate consistent leads using SEO, paid advertising, email blasts and referral programs.
- Develop an exit strategy to either sell or pass along the business for long-term sustainability. This can include selling to an investment company, merging with another business, selling to an employee or family or an internal sale to employees.
Jennifer Lafleur
Colorado Pool + Spa Scapes
Sales manager
Two locations in Avon and Glenwood Springs, Colorado
It goes without saying that a healthy business owner should be financially savvy, resilient and willing to learn and grow.
Someone who is organized, efficient and can manage their time and resources effectively makes the perfect role model for a team of leaders.
A leader who can create an environment of safety and trust can develop a collaborative, positive culture and motivate employees. Often, the business model of the typical pool and spa company involves many facets like service, construction, retail, accounting and human resources.
It’s essential to have a team in place to handle the daily tasks of each division. Leaders should feel supported through coaching, allowing them to confidently make decisions and manage operations that align with the owner’s vision. Trusting these leaders while ensuring their decisions, scripts and policies reflect the owner’s goals and company culture gives them the freedom to act quickly and effectively. This approach strengthens relationships with customers, employees and vendors, fostering a positive, efficient work environment.
Lastly and most importantly, a healthy owner is ethical and honest in their business dealings.
Nadine Nuzzo
Retail division manager
Arvidson Pools & Spas
Three locations in Crystal Lake, Palatine and St. Charles, Illinois