I’m back with another peek at our 30-Day Business Transformation program.
If you missed last week’s video, go check that out because I’m sharing sneak peeks
into the classes in this program each week for 7 weeks.
Today we’re taking a look at a segment from module number 2, Develop Your Business Plan.
So grab your free worksheet download in the description and take a peek.
We’re going to kick things off by developing your vision for your business.
This isn’t some cheesy mission statement that you slap on a website and try to make
your business sound so helpful and amazing.
I mean those things are fine, but what we’re looking for here is to dig deep into the details
of what does this business actually look like going forward.
This is our singular focus today, so I want you to take your time here.
So turn to page 1 of workbook number 2.
We’re going to start by looking at your goals at specific points.
1 year from now, 3 years from now, 5 years from now, and 10 years from now.
In order to start building something, we have to start with the big picture and work our
way backwards so we can actually put together a plan to get there.
So, you’ll see pages 1 through 4 are here for you to fill in with all these goals.
Don’t freak out, we’re going to walk through this and get a clear picture as we go.
The important thing to keep in mind, is that you’re not expected to have all the details
worked out.
This isn’t about HOW you’re going to do it.
We’ll get to that later.
The point now is to just set the goal.
Big picture, ultimate dream business, what does that look like as if it was running perfectly.
So we’re going to work backwards here.
We’ll start with your 10-year goals; let’s figure out what you want your business to
look like 10 years from now.
And you’ll see that you have different concepts to consider…
We’ll start with the number and type of other professionals you’ll have in the facility.
You may want to stay solo forever, and that’s awesome.
You may want a facility with 20 massage therapists, or 5 different type of health and wellness
professionals in addition to massage therapists, or you may want a multi-location or franchise
type of business.
Whatever the biggest picture is, whatever the end-goal is, so to speak, put that here.
How many professionals, and if it’s outside just massage therapy, what type of professionals.
Next, what is your role in the business at this point?
Will you still be doing hands-on work full-time and managing the business?
Will you cut back on your hands-on hours and focus more on running the business?
Will you hire a manager to take care of all that stuff so you can just keep seeing clients
as much as possible?
Or will you completely step away from the operations of the business and just take a
paycheck?
So think, how many hours you want to work each week in the business – and more specifically,
how many hours hands-on, and how many hands-off.
There’s no right or wrong here, because each one of you probably has a slightly different
goal on this particular piece of the puzzle.
So what does it look like for you?
Next, the education level you want to be at.
Will you have a dozen more certifications in very specific modalities, or extensive
training along one type of path like orthopedic or post-surgical work, or spa services, or
whatever.
What does your education, training, and expertise look like at that point?
Next, the services or at least service types you’ll offer.
This will likely line up with some of that training and education.
If you’re wanting to bring on multiple therapists, what kind of services do you want them to
offer, even if it differs from yours?
If other professionals like estheticians, yoga instructors, dietitians, physical therapists,
or anything else…what type of services would they potentially be providing?
Next, any retail items or products that would coincide with this type of business and the
services you offer.
Again, it doesn’t have to be super specific like the product or brand, but rather the
overarching theme and type of products and maybe some examples.
So like at-home pain relief tools like therabands, foam rollers, lacrosse balls, that sort of
stuff.
Or maybe it’s spa products like lotions and scrubs; maybe that’s even house-made
so it’s your own branded and formulated products.
Whatever it is, if you want to have some retail down the road, go ahead and put those ideas
here.
Next, is your location, office setup, and amenities.
As a physical space, where do you see your business?
Is this a free-standing commercial building that you own?
A private tiny-home or she-shed type thing on your own personal property?
Renting a room somewhere?
Renting a small facility, a large facility…any of this.
Look back at how many and what type of professionals you listed that you want and consider the
space they’ll need.
What does that space look like?
And what amenities could you include in that space to complement the services you’re
going to provide?
So of course, massage treatment rooms, rooms with sinks for estheticians, maybe saunas,
meditation rooms, classroom spaces, a private office for you, all that stuff.
And then lastly, your personal income goal.
Again, we’re not worried about HOW right now, we’re just setting a goal.
10 years from now your bare minimum cost of living will likely be a bit higher than it
is now, but you also want to consider life goals, living very comfortably, do you want
to travel, how much do you want to put back for retirement, kids’ college or trade school
funds, caregiving for family members, all that stuff.
What do you want to make each year?
So go ahead and pause here if you haven’t already and fill all that in for your 10-year
goals on page 1.
Then come back here and we’re going to look at how we work backwards on this to break
it down into these other timeframes.
Now, let’s look at the 5-year plan on page 2.
You’ll do the same kind of breakdown and set a goal for each category….
The number and type of professionals.
The role you’ll play in the business.
The education you’ll have.
The services you’ll offer.
The retail items you’ll sell.
The location and amenities you’ll have.
And your personal income goal.
We’ll look at two different ways to break this down…
To keep it super simple for those of you who are scratching your heads right now wondering
how you’ll ever do this...at each step down the timeline, you’ll cut it roughly in half.
That’s going to be the most straightforward way to break this down.
So let’s just pick two of these to use as an example…
Let’s say you have a personal income goal of $150,000 per year and you want to employ
roughly 20 other professionals in a large wellness center.
So at 10 years your goal is $150,000 with 20 professionals.
At 5 years your goal is $75,000 with 10 professionals.
At 3 years, your goal is $37,500 with 5 professionals.
At 1 year, your goal is $18,750 and solo.
Now some of you may balk at the 1 year number, and I totally get it.
So let’s look at our option number two to break this down for what’s a bit more of
a realistic business journey where the growth is a bit faster in the beginning then slows
down as the years progress….
If at 10 years your personal income goal is $150,000 with 20 professionals,
we’ll reduce that by 25% to be $112,500 and 15 professionals at the 5 year mark.
Then a 30% reduction to $78,750 and 10-11 professionals at the 3 year mark.
Then a 50% reduction to $39,375 and 5 professionals at the 1 year mark.
Now, it’s also important with those types of things that aren’t numerical, where it’s
not just a simple math problem, where you’ll instead focus more on priority than just the
amount.
So certain classes may be better to take first because they set you up for others, or certain
services and retail items may be better to do before others because of a higher need.
So take some time and consider what’s the priority as well.
How you break this down exactly is up to you and your specific goals and lifestyle.
If you want that huge growth on the front-end and will bust your tail in those first few
years to make it happen, then you can taper off and grow a little slower as you progress.
If you’ve got stuff on your plate right now that doesn’t afford you the time for
that kind of growth but you still have those big goals, then switch it up; it’ll be slower
at first and then explode around year 5 or something.
Again, there’s no specific right or wrong here.
This is meant to reflect your goals and your business, which kind of has to coordinate
with your life.
Now, as you go through this, check back in on workbook one, where you defined what success
meant to you.
Does that big picture goal fit?
Or does something need to change?
What are you willing to sacrifice and what are you not willing to compromise on?
I’ll say it a thousand more time…design your business to fit your life, not the other
way around.
Now go ahead and fill in the rest of these pages and get your goals set down in this
clear path.
That’s all for today.
See you tomorrow when we’ll dig deep into identifying your ideal clients.
Thank you so much for watching today.
If you want to sign up for the program and see more of what’s included, I’ll link
that below.
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join our Facebook group, and keep an eye out for updates, business tips, free content,
and all kinds of other goodies to help you grow your massage practice.
See you next time!