ARROW Business Model
As we always tried to help Human Hair businesses this time again we put our effort in and bring you a brief intro of the ARROW business model which may help you in your Human Hair business if you implement it perfectly.
We never believed in the buyer-vendor relationship but we always believe in global partnership with our clients and that is the reason we always tried to provide some sort of value to our readers, just for instance we tried to help the reader on deciding which quality one should purchase (for personal or for his/her hair business), we also help our global partners in marketing services so that their workload also gets reduced, we also shared few ideas on how they can enhance the customer experience and we also helped them in providing after-sale services.
In short, we tried every possible way we thought we could be a help to our global partners. And as earlier, this time also we have bought a brief intro to the ARROW business model on how you can implement it in your Human Hair business.
This article will provide you a framework to take your business to the next level and achieve all your business goals. It is helpful for those who are planning to start a human hair business, or who are currently owning/running a human hair business or a hair salon, hair wholesalers & distributors, etc.
We have also designed a framework that will help you in implementing the ARROW business model to your hair business very smoothly. Please fill the form and get the link to download it
Meaning of ARROW Business Model
A – Aim
R – Reality
R – Reflect
O – Options
W – Way forward
AIM
Identify your Role Model
Whenever any person starts any business and wants to do it successfully, he/she has to ask himself two questions.
- Who is number one (which company/business he admires) in his industry?
- How can you become a better version of yourself?
Every individual or a leader has a role model, you need to figure out which individual is your role model or you aspire to become.
- Identify a person who is the best in your industry.
- Study about his habits, achievements, qualities, struggles.
- Watch his / her interviews.
- List out five habits, qualities that inspired you the most.
Identify your goal
Once you have recognized your role model, time to shortlist your long-term and short-term goals. Your goals must be SMART. ie it must be Specific, Measurable, Achievable, Relevant, Time bounded
Gain the required skills
- Do you need any technical training to achieve your goal?
- How much time do you need to acquire the required skills?
- Keep these skills as your short-term goals.
Identify your Milestones
Once you have decided on your goal, it’s important to decide the milestone for it so that you can measure and keep a track of your progress.
Identify the milestones that you like to put as a measure of success which will tell you that you are going in the right direction at the right speed. These milestones will keep telling you about the status of your goal achieved so far.
Reality
Identify your current reality
Reality simply means checking your current status with reference to your aim. It means how far you are from your decided goal. At this stage, you need to strategize your steps to move forward towards your goal and for that, you need to be very clear about your current standings so that you can formulate flowless strategies to achieve your goal.
Make you DILO (Day-in-life-of)
- This is a superb exercise where you will keep a record of all your activities which are performed by the individual and consuming time. this exercise will help you in identifying the operational issues.
- Just like which activity is consuming more than expected time, the effect of every activity, the root cause of every activity along with their impact, and so on and so forth.
- By doing this you can easily segregate the activities which aren’t adding any value to your business or adding negative value to your business.
Identify your signature strengths
Just like it’s important to find out your flaws and work on them to improve your overall performance, it is equally important to finding out your strengths so that you can capitalize on them and create a monopolistic market for your business.
So figure out your signature strengths so that you can achieve your short-term and long-term goals. This activity will help you in finding out your hidden potentials.
Part II, of the ARROW Business model, will be posted very soon where we will cover the remaining topics like
- Reflect,
- Options and
- Way forward
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