By now you should have a great deal in place to help cement the foundations of your business. Now we need it to grow. The quicker the growth; the sooner the profits. Avoid burning a hole in your profits by being slow about your growth- get into action straight away with these two growth strategies.
1/Partnerships, joint ventures and affiliates
Think of buying petrol and the chances are you will find a Tesco or M and S Simply Food on the petrol station forecourt. Fly Easy jet and you will be able to buy a Starbucks coffee. Go to www.lastminute.com and you will find theatre and dinner packages.
The absolute fastest way to grow your business is through partnerships, joint ventures and affiliates.
I promise you, that working in collaboration with other companies and therapists will accelerate your progress.
Geese fly in a V formation to get uplift which increases their speed by 71%.
Who do you know that you could work with who is going in the same direction as you to increase your speed? This is where networking is so important to get to know people within your industry and within your community. Have you been to your local health fairs recently to connect?
Companies that are all fishing in the same pond often get together to pool resources and provide special offer packages, cross-refer and share data lists and do joint advertising. Can you do the same?
This is so important that I am going to say for the next month you should stop looking for clients and look for partners instead.
I imagine that in your community there is already someone who has a list of all the clients you will ever need: the local GP, hairdresser, health food shop or physiotherapist.
But why would they refer you? Why would you be their therapist of choice to recommend to their own clients? This takes us back to previous steps when we discussed how to become the therapist within your field, so that you become the only choice.
2/ To make money you need to spend money
When looking at your budgeting I would recommend that you allocate between 5 and 10% of your turnover to marketing and promotions.
Take care with how you spend that money and test it before making a huge commitment. For example I would never spend money on marketing or advertising without speaking to a customer of the marketing or advertising company to see if they had got enough sales from it.
However to plant enough seeds you are going to need to invest.
Think about your marketing plan and how much you are going to spend on this. I will be going through a full marketing plan in detail for the next step.
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