When it comes to better business management, sometimes the less-is-more approach is the right tool to increase your profits. The art of pruning is well known to gardeners. But applying it to your wellness business works wonders too.
Today, I pruned back the branches of a fig tree in my back yard. Every year in August and September, this plant gives my family more figs than we could ever eat. In fact, I often give away tons of figs and make fig jam every year. And every winter, I prune back the branches of the tree for better fruit the following summer.
So how can this pruning your business help reap better profits? And how does one even go about pruning a business?
Why Prune Your Business?
Trees grow many branches, but the leaves on those branches start competing for light when there are too many. This overcrowding also causes the tree to provide fewer nutrients for its fruit. The result is lack-luster fruit.
But if you prune the branches back when they are bare, the leaves will return with more space to soak up sunlight. Each fruit will get its full share of nutrients. The result of pruning is a healthier tree bearing excellent fruits.
The first time I heard of applying this concept to business was from one of my mentors, Marie Forleo. Her motto is “Simplify to Amplify”. If you really want to be the best or achieve the most out of your work, you need to prune away those excess branches! (Or, in this case, cut out any unnecessary or hindering fluff in your business.)
Niche Down Your Offerings
When starting a business, it can seem like a good idea to offer everything possible to maximize your range of clients. But this can actually hinder you. Niching down to your specialty is a great way to improve your business management. Once you get enough clients that want only your niched practice, you can cut out any offerings that don’t fit in.
For instance, at first you may offer relaxation and deep tissue massages to the general public. But later, you have decided to specialize in pre- and post-natal modalities. Once you complete your speciality certification, you can start offering and marketing your new services. Once around 3/4 of your clients are pre- and post-natal clients, it’s time to switch gears and cut all services that aren’t pregnancy-related. This is a great time to rebrand your business in your new niche.
Lessen Your Expenses
Niching down your specialty can also help cut costs. The less you offer, the less money you have to spend on supporting products. Now that you know your focus, it’s time to stop paying for items that don’t fit into your new speciality.
For instance: now that you a pre-natal specialist, you maybe investing in pregnancy tables, pillows, herbs and oils. But you are definitely not going to feel tempted to buy an expense infrared sauna like all the other days spas in town are doing. Since pregnant women can’t go infrared saunas, and you just saved thousands of dollars by not trying to compete with colleagues in your community.
Focus on Your Ideal Client
Focusing on a niche modality often means focusing on a particular type of person. For instance, the athlete, the injured, or the expecting mother. Once you create a clear picture of your ideal client, you can market accordingly.
Knowing the specific customers that you’d like to have allows you to make those select clients feel special. To really narrow down who your ideal client is, do some market research and take notes.
Adjust Your Marketing
Now that you have a concrete offer and ideal client, marketing becomes super easy. You’re no longer casting out a large net trying to fish for everyone and can focus on the specific type of person you’d like to attract.
This can help your marketing become much more effective and cost-efficient. If your marketing is too broad, your business might not speak to people as much as a more focused one.
Interested in learning more about effective marketing? If so, you can check out our online courses that will teach you everything you need to know.
Prune Your Time Spent on Services
You can also prune the time that you choose to spend with your clients on services. For example, many massage therapists offer 30-, 60-, 90-, and 120-minute massages. But how many of us hate the 30- or 120-minute massages. These sessions often feel too short or too long.
You may feel like you have to provide them to compete in the industry, but you do not. You can absolutely pair it down to just 60- or 90-minutes. You can even make every single service 75-minutes. I know two extremely profitable businesses that only offer either 75- or 90- minute services.
If it helps your business become more streamlined and efficient it will help your bottom line. Ultimately having less options help your client have a better experience as well. When there are too many options, clients suffer from analysis paralysis. Lessen their options make commitment to buy and invest in care easier.
You can also use the pruning technique to be specific about when you start each session to allow for the maximum amount of sessions during a day. For example, you could clarify upfront that you won’t go overtime for late clients. This way, you can keep everything moving smoothly while ensuring that you and others respect your boundaries and break times.
Pruning isn’t just for ensuring quality plants. It also improves the quality of your business management and profits. By taking the above steps, you’re sure to reap greater rewards from your wellness practice. Leave us a comment if you agree.