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Minding Your Wellness Business During Uncertain Times

 

Opportunities

Many of you are shifting from “in person” to online, you may have more time to work on your business, or you may be in business and want to make sure you maximize your efforts.

It can be pretty easy to be afraid and even become immobilized.  

NUMBER ONE – Don’t turn away, you must be present with this.  Our industry is changing, it can change for the better.  Lean in.  Know the facts and don’t give into hysteria, but be realistic. 

It’s impossible to be able to foresee the future, but, if you have a retreat or workshop planned, look at the probability and the costs for the people who are attending and decide as early as possible. 

If you’re livelihood depends on your daily in-person meetings, it’s imperative that you think quickly and come up with an alternative.  The earlier you come up with a creative solution, the sooner you can help your customers and safeguard your income. 

Lucky for us, there is technology in place to make a great customer experience and even add value.  Often as we take quick and decisive action, improvements happen. 

If you have employees, or subcontractors, now is the time to look fear in the face, look at your numbers, your alternatives, and know what you can do.  There are many programs in place to help you to help the people who are dependent on you as a business owner.

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Cathy Sykora

Cathy Sykora

Founder, The Health Coach Group

Cathy helps health practitioners build and maintain professional materials and successful businesses that improve the lives of others. 

 It’s okay to be scared, and we all know that we can be afraid and still do what we need to do.

NUMBER TWO – know your numbers, know your mission, and move forward.  This is a form you may use to create a business plan.

If you’re not good with numbers, find someone who is.  Luckily, this is a time, more than ever, that there are available people to help you.  Reach out for help where you need it.

Manage your cash flow and look ahead.  With this particular opportunity, 90 days is a current estimate that we can use, while being open to the idea that it will need to be extended.  Plan on ways to slow the flow of cash.  Luckily, there are extended terms, early payment discounts, special subsidized loans and forgivable funds.  Cushion yourself for that 90 days.

Look at your income, know your receivables.  Offer the same thing to your customers, offer early payment discounts, see how you can help.

Look at what you have that isn’t going to be affected by any of this.  How long could you go with what you have?  The best position to be in is to be rational.  The more you have leaned in, the more rational you can be.

NUMBER THREE – You are in a position that most business people are not in.  Your services are needed more now than before.

Helping your clients to stay mentally and physically fit is needed.  If you don’t offer that, they will find it elsewhere, or they will flounder.  You are important. 

NUMBER FOUR – Help others.  Helping others without an expectation of return can make you feel so much better.  Service and help your people and find out what they need.  When you find out what they truly need for support right now, you will know how to offer them monetized help.  Be authentic with your offer.  Work to give your customer what they need.  This is a good time to look at what you offer and see that it is even more useful now, or to tweak it and help even more.

NUMBER FIVE – Don’t do it alone.  Be with others who are doing what you’re doing.  Join our free morning meetings.  Monday through Friday 8 Central and 9 Eastern.  We go over three actions to move toward your goals every day.  You get to “be” with others and start your day off right.

 

 

“Between stimulus and response there is a space.  In that space is our power to choose our response.  In our response lies our growth and our freedom.” 

Viktor Frankl  

MARKETING

NUMBER SIX – We are so fortunate that we have the technology that exists now.  We are more connected now than we were 10 years ago.  It’s important to be diversified.  

The online world is immense.  There are other ways to reach people besides person-to-person.  Now may be a time to be creative with your marketing as well.  

We’ve talked about it before, and it’s imperative that you hear it again.  It is important that you increase your marketing at this time, to cut back on your advertising at this time can be your biggest mistake ever.  If you look at the actions of businesses that survived and thrived through the depression, it was those who no longer advertised that went away.  In the banking crisis, those who continued or increased their advertising recover and did well.

 

NUMBER SEVEN -Many of you have narrowed your niche to the point where you’ve been uncomfortable in the past.  This is the time to look at that again.  Are your customers in a position to have spendable money at a time when they can invest the time to devote to their wellness, now is a great time for you to offer them exactly what they need, this is your opportunity to help them. 

People who are struggling need essentials.  People who are more comfortable will be open to indulgent products.  People who are affluent will be spending as usual.

It’s important to know that not all people are suffering.  Your offer to “BUY NOW AND SAVE” can be a help to them too.  Right now, for them, a little indulgence in themselves and self-care can help to fill a “people void”.

You are genuinely valuable and it is your gift that we all need, especially now.

DO YOU HAVE EXTRA MONEY?

Some of you are not struggling. Some of you are really enjoying the extra time and your business or career is set in a way that you are not financially affected poorly and may have even seen an upward shift (is common in this industry).  If that’s the case, this is the time that you can help others, you can also move yourself forward.  Work on your business, learn new things, invest in what moves you forward.  You improve yourself and you support businesses and their employees.

Further Reading:

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Tell me where you are in your business building and what you’re stuck on.  Let’s see if we can get you “unstuck”.  Comment below.

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