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Episode 7

How To Recession Proof Your Business in 7 Key Steps

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About this episode

Hello, and welcome to this bonus episode, I decided to drop in an extra special recording and a podcast to go through something that I think is really, really relevant and that we’re hearing a lot about in the media.

When I talk to our clients that we coach on a daily and a weekly basis, this is something that comes up a lot, the things that people are really worried about right now.

So this bonus episode is about how to recession-proof your business, your clinic, and your studio in seven key steps.

So I’ve pulled out the really, really important things that I think as a business owner, you should be aware of you should be working on. And we’re going to go through those bit by bit.

In this bonus episode I’ll be covering:

  • How to recession proof your business.
  • Recessions are a normal part of a business cycle.
  • Transitioning back to pre-covid levels.
  • Knowing your numbers and knowing your needs.
  • The importance of knowing your numbers.
  • Don’t stop marketing.
  • How to track your marketing.
  • Invest in your client relationships.
  • Step up and lead from the front.
  • Focusing on your mindset.

Resources:

https://www.facebook.com/groups/thrivebusinesscoaching
https://www.facebook.com/thrivebizcoaching

JANE

The Treat Your Business podcast is sponsored by Jane. Jane is an all in one practice management software with helpful features like online booking, admin scheduling, integrated payment processing, and charting. But there’s more to Jane than you might think. The team at Jane cares a lot about the problems you face as a practitioner. One of those problems is the prevalence of no shows and late cancellations in practices.

So they’ve made it easy for you with a few simple tools built right into Jane. That includes the ability to implement an online booking payment policy, send out unlimited text and email reminders, and enable waitlist management features to fill those last minute gaps that were preventable.

Come and see Jane in action at Jane app. And if you know you’re ready to sign up, then you can mention the code Thrive1MO for a one month grace period on your new Jane account.

Book, chart, schedule, invoice, process payments, and run your whole practice online.

https://jane.app/

Highlights

  • 00:00:03 – How to recession proof your business.
  • 00:02:51 – Recessions are a normal part of a business cycle.
  • 00:05:46 – Transitioning back to pre-covid levels.
  • 00:10:42 – Knowing your numbers and knowing your needs.
  • 00:13:34 – The importance of knowing your numbers.
  • 00:18:22 – Don’t stop marketing.
  • 00:20:56 – How to track your marketing.
  • 00:23:51 – Invest in your client relationships.

Transcription

You’re listening to Treat Your Business with Katie Bell, the podcast for health and wellness business owners that want and need to give their business the treatment plan it deserves and needs so that you can create more time back in your lives to give you the income you deserve and work hard for and to create more freedom and flexibility in your lives to enjoy the things you love to do. Whether you are a physiotherapist and osteopath, a sports therapist or maybe a Pilates studio owner, I’m determined to share with you bite sized episodes full of tried and tested tips from my own real experience of growing a successful physiotherapy and wellness clinic and from working with many businesses to do the same. So if you’re tuning in and feel like you’re on a hamster wheel of patients admin, life constantly juggling working and being with the family, and feel like you’re doing a rubbish job at both not making the income you thought you would by running a business and generally feeling overwhelmed with everything that you have to do, then keep listening. The treat your business podcast is sponsored by Jane. Jane is an all in one practice management software with helpful features like online booking, admin scheduling, integrated payment processing, and charting. But there’s more to Jane than you might think. The team at Jane cares a lot about the problems you face as a practitioner. One of those problems is the prevalence of no shows and late cancellations in practices. So they’ve made it easy for you with a few simple tools built right into Jane. That includes the ability to implement an online booking payment policy, send out unlimited text and email reminders, and enable waitlist management features to fill those last minute gaps that were preventable. Come and see Jane in action at Jane app. And if you know you’re ready to sign up, then you can mention the code Thrive one M O for a one month grace period on your new Jane accounts. Hello, and welcome to this bonus episode, I decided to drop in an extra special recording and a podcast to go through something that I think is really, really relevant that we’re hearing a lot about in the media. And when I talk to our clients that we coach on a daily and a weekly basis, this is something that comes up a lot things that people are are really worried about right now. So this bonus episode is how to recession proof your business, your clinic, your studio in seven key steps. So I’ve pulled out the really, really important things that I think as a business owner, you should be aware of you should be working on. And we’re going to go through those bit by bit. And hopefully, by the end of the podcast, you’re going to have some really key action points that you can go and implement into your business. So as a business owner, we are constantly met with challenges. But wherever there is a challenge, I always think there’s an opportunity. And according to the media, we are in an economic crisis, we are in a recession. And we may be in this period for several several months, and perhaps maybe the year ahead. But I want to clear something up, first of all, because I’m not an economist. But what I do know is that recessions are a really normal part of a business cycle. We’ve had them before. And we’ll have them again, many of you listening to this podcast will will have experienced business in a recession already. It is trying to reframe it rather than listening to that that media driven kind of fear based stuff that they put out there. It’s looking at it and reframing it in our head as a, okay, well, this is just normal part of the business cycle, we will come out the other side of it, and we will probably have one again. But it’s about controlling the controllables. And it’s about really taking this challenge. And this opportunity to not just think about surviving over the next few months, but actually using this as an opportunity to thrive to do things differently. Now, we’ve all come through COVID-19 and if you’re listening to this podcast today, you’re probably a business owner in the health and wellness industry that still has a business. You’ve survived it, you’ve come through it and we almost had no notice of the COVID 19 pandemic I remember back in in March, I was in Las Vegas for my for a trip with some girlfriends and I was Believe it or not in the gym at four in the morning because I couldn’t sleep I’m absolutely rubbish at travelling west and my body clock never catches up. So we’d been out and we’d gone into the casinos in the Bellagio we were doing all this amazing stuff, incredible things and I couldn’t sleep so I thought I’m just gonna go to the gym. So I’m on the treadmill and there’s a TV in the in the in the in the gym, and it was showing the cruise ship that Trump was not allowing to come back. It would not allow him to dock and allowing passengers to come off because of this. This this Oak, this kind of virus that was on board. And that was the first thing we heard about it. And that was, I think it was a week or two weeks before the pandemic hit, and we all went into lockdown. I couldn’t believe that I’d flown over to the US, I’d been in these massive places, there was not a face mask in sight, there was one person walking around with one piddly hand sanitizer, and it was just not even a thing. And then two weeks later, we shut the doors of the business. And we were going through this really, really scary time. Now, you’ve survived COVID-19, okay, with no notice whatsoever to adapt and move your business in different ways. With a recession, we knew this was coming. The media has been telling us about this for months and months and months, we know the cost of living is going up. So we have had a little bit more time to prepare. But what I want you to think about is COVID-19 was when he was 17, he was 17 trillion pounds, created by the central banks and pumped back into our economy. Okay, at the same time that all the supply was being constrained, we couldn’t spend it. So what I think we’re kind of seeing now is actually a transition back to those pre COVID levels, because it can’t just keep running in the way it is doing. So, for me, I think, well, it’s not really a crisis, it’s just a transition back to pre COVID level. So before, the things we need to consider are, there are not enough people for the jobs, Brexit COVID unemployment rate being really, really low, there are some key things we need to consider as business owners. Like it’s, it’s really, it’s much more cost effective to develop and keep people than it is right now to find and recruit new people. And you will know listening to this, if you are looking for new people in your business right now, it is a big challenge, to get the right person in our industry to come and work for us, that doesn’t seem to be the pool of people, they’re certainly the people that want to make the jump into private practice, because of the fear that the media are telling us about. Because I’m putting us in there making this fear making those big decisions about moving from anything that is not stable. And a lot of people who are coming from perhaps an NHS role into a private roll feel like it’s too unstable. So that’s why we’re seeing a big recruitment challenge. So we’ve got to utilise our employees, we’ve got to find new ways to adapt our business, diversify our offerings. And remember, this is this is just like a slow down, it’s the system moving to a more sustainable level. Now before we get into seven steps, because I know that’s what you’re listening for, I want to introduce you to Maslow’s hierarchy of needs. You’ve probably learned about and learned about this in my psychology a level. And it’s a motivational theory, okay, in psychologists, and it’s a five tier model of human needs. Now, if you’re not sure what it looks like, Google it and you will see this really colourful triangle, okay, and it’s got five different levels. And at the bottom of the triangle, if you can imagine at the bottom, this is your physiological needs. These are what we categorised as like deficiency needs, okay, so this is air, water, food, shelter, sleep, clothing, reproduction. Okay. And then we move up to the next level, which is your safety needs. That’s personal security, that’s employment, that’s resources. That’s health, and property, okay. And then we go love and belonging, which is friendships, family sense of connection, esteem next level up, so that status, recognition, strength, freedom, and then self actualization is right at the top of the triangle. And that’s the desire to become the best the most that one can be. Now, what does what why on earth am I telling you about this? Well, those needs lower down in that triangle must be satisfied and must be met before you can then satisfy the needs further up the triangle, okay? So you can’t be you can’t have the desire to become the best that one can be and have huge levels of self esteem and status and recognition, if we’ve not got our physiological and our safety needs met. So what we’re seeing here is that as professionals in the health and wellness industry, we are the second in the hierarchy of needs. We are in the safety needs, health is there. So our customers, our ideal clients or patients, their pains and problems don’t disappear in an economic crisis. In most cases, they actually get worse. Now, what we saw in with COVID-19 in a lot of a lot of practices that we work with, they experienced a big boom coming out of it. On COVID-19 ism got loads more patients through the door. And that’s because the supply was constrained in COVID-19, people couldn’t get their needs met, even if they wanted to. So therefore, the motivation to get those needs met grows. So when we came out the COVID 19 pandemic, everybody then wanted to get the physiological and safety needs met quickly. So we saw this big boom back into our practices. And then what’s happening is we’re going through this recession or economic crisis, and people are having to make decisions now on what is most important, air water, food, shelter, sleep, clothing is an absolute priority. So people are having to make a decision. And it’s often from a fear based decision, because what they listen to in the media, that perhaps their food, their shelter, their air, their water, their heating is taking priority, which is why as an industry, we have seen a reduction in patient numbers across the whole of the country. That’s not just just, you know, individual clinics, we’re seeing that happen, okay, it will come back, it will bounce back, because people need to get these needs met. So, from working with that, the type of people that we do, most of our clients, and I’m sure you will agree are living in their stress system. Okay? You guys know more about this. And I don’t want to teach you to suck eggs here. But adrenaline and cortisol are absolutely running the show. And we know adrenaline, cortisol, when we’re running in our stress system we’re running, we’re got high state of inflammation. It’s a major contributor to paint anxiety, to mental health issues, to digestive issues, cardiac problems, I could go on and on and on. But the point I make is when people are led by fear, which is what the media do such a good job at, the deficiency needs rise due to deprivation, okay. And that motivates people when they’re unmet. So the, the motivation to fulfil those needs become stronger, the longer the duration, they are denied. So we are in a state where people are perhaps making a decision that they maybe need to not see us as often, or stretch out their appointments, or they are having to just put up with pain, because they need to meet their physiological needs first. So what we need to focus on here is the opportunity that can arise in the face of this challenge, control the controllables. And that’s how we react to this economic crisis, or this, the system moving back to a more sustainable level, you are, in fact, in the best position, people are going to need you even more than they want it. So let’s remember where this challenge there is opportunity, we must remain consistent, we must remain relevant. We’ve got to deliver high on value and really lead from the front. So let’s get into the seven steps. First step is knowing your numbers. And I’m sure you’re all going to squirm at the thought of this because one of the biggest challenges we see with working with business owners, they don’t know the numbers. And it’s not because they’re not good enough to know the numbers. It’s not because they don’t possess the skills to know their numbers. It’s just that they the thought of it, and actually understanding what numbers they need to know in their business is such a challenge that they just bury their head in the sand, or they just look at what their bank says as a measure of how successful their business is or not successful. But that must impress the importance of knowing your numbers specifically, in in any time in a recession in an economic crisis, cash is king in your business. So you should be prioritising profit over growth. It’s not to say you can’t grow in a recession, you absolutely can. But if you only focus on that top number, that that sales number, that revenue and you’re not looking at your profit, and your margins, you’re going to get into a tricky situation, looking at what areas of your business, have the best margins, and create the best profit and focus on this. Let me give you an example. If you are in a physiotherapist who maybe runs Pilates classes within your clinic, and you have 10 classes on the timetable, and you’re running at a 70% capacity rate for you to take your classes from 70% to 100%. In terms of capacity, apart from marketing spend, doesn’t cost you more money to deliver. Because you’re already paying the instructor to teach that class. So if you can focus on the margins in your classes, so a lot of you will be running perhaps classes and you’ve got six or seven people on them, they’re not full. And actually, you need five people in the class to breakeven. So you’re gonna have a very, very small margin there of making any profit. But if you’ve got that class up to two When all of that extra patient eight, nine and 10 a profit, it could be looking at what services within your clinic make you the most money. So we often see that we are in in our clinic, we have physiotherapy provides a better margin compared to sports massage, neither one is better or worse, it’s not a complete comparison there. It’s just in terms of what our charges are, and what our margins are. So when we’re thinking about what we need to push more, to ensure that we’re making good profit, we’re looking at our physiotherapy services. Now, creating a cash flow forecast is really important. And for a lot of you who may be only do your accounts yearly, this will be something that you haven’t got in place, I would really encourage you to talk to your accountants, because your accountants will want to help you understand your numbers and and give you sort of real transparency of what your business is doing. Because it’s going to help you predict and prepare for your tax later on in the year. And any tricky points and sticky points that you might have coming up. So a cash flow forecast is something that your accountants can help you put together, you can do it yourself, but I would really recommend unless you are excellent in that area, just get somebody else to do it. Because they will be able to look at your cash position now. And they will be able to project it over the next six to 12 months. And that allows you to really prepare for what tax you’re going to be paying, when you might be a vegetable business. Not many are in our industry. But if you are a vegetable business, then you know, when your VAT payments are due, if you’ve got big things that are happening in terms of marketing, and you’ve got launches or things that you’ve got to be you’re going to have to pay for and you’re going to have to budget for or you might need to replace equipment or buying machinery, all of that is projected. Okay, and it shows you whether the answer is yes, you can do it or no you can’t. It doesn’t matter the size of your business, you could be a clinic owner, a business owner, that is just you, and you are seeing 2030 clients a week, or you could have a business that is making 500,000 pounds a year, and you’ve got a team of 20. Okay, it’s crucial to have one of these as a bookkeeper as your accountant to produce one for you. I also like to know my numbers in a really tangible way. So what this means is there are so many metrics that you can track in your business to determine whether your business is successful or are not performing in the way that you wanted to. But what I like to understand is, if I if I see a big number, like if I know that we have to give you an example, if we have to do 10,000 pounds in a month. That to me means nothing. So what I like to understand is how, how many bums on a Pilates Mat do I need in a month to get to 10,000? Or how many physiotherapy follow up sessions do I need to be doing in the clinic to get to 10,000 a month? Or how many programme rehab rehabilitation programmes do I need to sell to get to 10,000 in a month. And that’s what I track, not the 10,000. So we we do weekly analysis, monthly analysis. We do quarterly analysis, we have cashflow forecasts, we have budget plans, we have a financial forecast in place. And this means that I’m predicting and projecting what I want the business to do. And then I’m looking at what we’ve actually done. And I’m comparing the two things. But I’m not looking at the money. I’m looking at the actual how many of that thing we are doing. So how many people did we have in a Pilates class compared to what I predicted we needed to make that 10,000 pounds. And it means that I can react more. The issue with doing your year end accounts at the year end is it’s gone. It’s but it’s past it’s happened. You can’t do anything about that. When you’re looking at your numbers on a week to week basis, you can start to react and do things about it quickly. It’ll give you much more focus and much more clarity on what your targets actually are. Rather than that just big number that means nothing. Okay? Step number two, don’t stop marketing. Many, many business owners in this room. I saw this happen loads in COVID-19. They went under a rock. Okay, because again, the media took over it puts us into a fear, fear based mindset rather than an abundant mindset. And we sort of scurried under a rock and thought I just need to survive. Those business owners who put themselves out there and COVID and continue to market are the ones that really bounced and have boomed and have got themselves back in a good cash position coming out of the pandemic. So I really want to encourage you to not stop marketing it If you don’t commit to standing out, and standing up for your values and what you’re passionate about and what your mission is, and what why you do what you do, you’ve got a much higher risk of failure, you’ve got to be bold, you’ve got to be consistent, and you’ve got to be valuable and keep marketing. My third step is linked to this, because it’s about tracking your marketing, we want to make sure that you have a multi layered marketing strategy. So this is an A lot of business owners always have relied on word of mouth. And I would say up until the pandemic that really worked for a lot of businesses, they became very well established based on their reputation was included. But what we’ve seen coming out of the pandemic is word of mouth referrals have dropped off. And a lot of that is because for two and a bit years, we weren’t socialising. We weren’t in that community. We weren’t talking about it, we weren’t, we weren’t sharing our pains and our problems with other people. Okay. So word of mouth is not something that you can rely on, you definitely shouldn’t rely on it if you’re particularly looking to grow your business. So tracking your marketing is about looking at all of the marketing activities that go on in your business, and what is working and what’s not. So as a baseline, every client that comes through the door, you need to know how they have heard about you, where they’ve heard about you, and you need to track it. Because then you can decide what you rinse and repeat and what you stop. You can look at where you’re spending your time. Now a lot of you hate posting on social media, I totally get it. Okay, it takes hours. And actually, when you’ve track it, it doesn’t actually bring you paying clients and Okay. Therefore, it’s probably not the best use of your time, because time is one of those elements in our business that we never have enough of, I’d speak to so many business owners that are time poor, yet are spending hours posting on social media for no return. Now, we have a social media presence in our physical wellness business, and it’s brand awareness. It’s consistent brand awareness, because people need to think it’s something like seven times people need to see you and connect with you before they go up. Do you know what I need to bring them and book an appointment? So for us, our social media posting is not about generating leads. Okay, it’s about brand awareness. That’s our strategy to generate leads, we do other things PPC, SEO, and off lots of offline marketing. So track your marketing, set clear targets, set clear plans for your marketing based on how many customers you actually need. And that goes back to knowing your numbers. How many people do you need in your Pilates class to hit that revenue goal, and look at where you’re spending your time, and be ruthless, be strategic, know what is working and what is not working. For many of you, if you didn’t post on social media for a month, it would make absolutely no difference to your bottom line in your business. But if you use that time more effectively to focus on marketing that is going to generate leads, then you will get a better return on your time and your investment. Step number four is adapt, you’ve got to think outside the box. When we had the pandemic, we all thought outside the box really quickly, we moved online within 24 hours of the pandemic hitting OK, we were quick to get that and to move. And therefore we benefited quickly by keeping some momentum going in a business that was technically closed for many, many months. So think outside the box, how can you continue to provide an amazing value to your clients? But how can you diversify your service or your product? So for example, could you launch an online programme that people could come by so it’s a a lower cost, it is something that that is an asset to your business that you can roll out time and time again. Give you an example we just launched a note to six week postnatal programme in our art we have a women kind, womankind health team. And they have developed it’s not a six week process or programme for new moms. Few reasons, we saw a massive gap in the support for new moms having just had a baby. Okay, the NHS is so overwhelmed and really unable to give the mums the support that they need. We offered it at a lower end price, okay for a market who are on maternity leave, who are struggling to access other support, but it provides a support to a group of clients where the education is lacking. And we’ve also created another income stream into the business. And once we’ve created that it costs us no money to deliver. Let’s give you another example. We in my business we believe that Pilates is about consistency. And as a result of that we don’t allow anyone to join our Pilates for anything less than three months to start with. So you can’t do a one off class. You can’t do four classes, you can’t do five, you have to start with a three month programme. And we are committed to the results. And that’s why we don’t let anybody come for any less than that. So that’s how, because we’re committed to those results, that’s how we support them to achieve it by not allowing them to do pay as you go and to do anything less than that. But we’re also aware that the media are doing a wonderful job of scaring everybody. And the cost of living increase is a real thing. And the impact that is that is having, especially in these winter months is huge. So what we’ve done is we’ve created the ability for our existing members to add a short course into their membership, okay, so rather than getting them to commit, if they want to do two classes a week, rather than getting them to commit on a big level, right now, we’ve offered a bit more flexibility through a lower commitment. But it means we can upsell to our current clients another class. So we’ve got no marketing costs, we’re just using what we’ve currently got. We’re leveraging what we’ve currently got, we’re offering a slightly more flexible, lower commitment offering increases our cash flow doesn’t increase our cost of delivery. So we’re thinking outside the box, what can you do to help solve the solve the problems your clients have, and create a diversification your income streams, it doesn’t mean that you have to learn to offer low monetary value solutions, it doesn’t mean you have to give away things for free. But it’s about thinking about, you know, if you’ve got, for example, you work with women who’ve got pelvic floor issues, public health problems, and you’re thinking, well, it costs a lot of money to pay my staff to see them on a one to one basis, is there a way that they could have have access to recorded content, which they can purchase, but it doesn’t get and they’re still going to get the results. But it doesn’t mean that you have to pay all of your staff one to one all the time to deliver that service. So adapt, think outside the box. Set number five, invest in your client relationships, think about the Pareto Principle 80% of your income, your revenue will often come from 20% of your clients, the 8020 rule 8% of your income often comes from 20% of your marketing activities. So take the time to really recognise and nurture your clients. And we’ve spent a lot of time doing this within our business in the last six to nine months. We are not just a physio and wellness practice or clinic, we are a community. We are a community within a community. Okay, so we are a community within Sheffield. We are a regular thing and people’s diaries. If I had to put a sign on the door to say, unfortunately, due to unforeseen circumstances, we have now had to close, I asked my staff this often in our team training, what impact does that have on our clients because if it’s a huge impact, we know we’re doing the right stuff. Okay, and we have to still be here throughout this economic crisis. And throughout the pandemic, we have to be here at the other side of it. Because we are a regular diary slots in, you know, in people’s lives week in week out. They come because we create a feeling they are part of something. So we’ve really worked on nurturing our clients even more over the last six to nine months. Because Pete we are social beings, we are social people that want to be around other people. And we’ve lacked that in COVID-19. So we’ve we’ve done, have a glass with your class, after parties, we’ve encouraged them to stay around, we’ve done lots more recognising loyalty, we’ve done lots more recognising members who have got amazing results and are seeing changes and are committing to their health and wellness. So you want to be something someone could do without and it takes consistent work. It takes you focusing on the value that you’re you’re delivering, it takes you recognising people’s loyalty, but your customers are likely to purchase more from you. And it’s much better than constantly trying to get new clients because that costs you money. So nurture your supporters. Step number six maintain perspective. Remember, this is a really normal business cycle, it will pass. Keep your decisions firmly anchored in the long term. And don’t focus so much on the short term. Remain strategic, remain consistent, follow your plan. And my final step number seven is to stay entrepreneur, entrepreneurial, and lead the pack. If you are a leader in your business, if you even have one person that works for you, you have to step up and lead from the front. You’ve got to concentrate on what you can control. You need to approach the recession like any other disruption, it’s an opportunity for you to find new ways to provide value, new revenue streams, new ways of working. And as I said, if you have a team, you’ve got to lead from the front. Invest time in your team builds morale. Check in with your team. We had a situation a few weeks ago, where one of my fabulous sports therapist he came to work and we had a training session. And he was really His mindset was really off. And I was thinking, what is what is going on with him. And I asked him, what he what how his morning gone. And it’s the way I walk the dog and I was listening to. I was listening to podcasts, and that was really good. And then I got in the car, and I listened to the radio. And he said, It’s so negative, all I heard was like the rest of the world is going to end we’re in a, we’re in a recession, where, you know, nobody can afford to heat their houses, and nobody can afford to eat and cost of childcare has gone up, and, and he absolutely absorbed everything. And what that resulted in, was him coming into work with the mindset that all the clients walking through the door couldn’t afford to be there. And I said, Do you actually know that? Are you making an assumption based on what you’ve just heard on the radio? And he said, Yeah, absolutely, I’m making an assumption, I’ve got no idea we’re looking forward to be here or not. And so really check in with your team on what they’re listening to what they are taking in, because that will really impact their performance at work. Build your team around, you want a team that’s going to go above and beyond, you need a team to all be rowing on the same boat in the same direction reading off the same map, you don’t want people that are putting their oar in the water and really pushing it down and restricting you and holding you back. And opportunities like this really separate the wheat from the chaff, it really gives you the opportunity to cut the fat, to get rid of things that are not working in your business, things that are costing you money, or people that are not rowing in the same direction as you, I’m gonna give you one bonus tip. And the bonus tip is focusing on your mindset. It’s one of the things that I’ve touched upon, as we’ve as we’ve talked through this podcast, but your mindset is so crucial to your behaviours and your actions that you’re going to take in your business. So we often see that when we listen to the radio, or listen to the news, I have a rule I don’t listen to any of that I don’t read a newspaper haven’t done for probably 11 years now much to my, probably my mom and dad’s despair. But I want you to think about a pie chart. Okay. And on this pie chart, it’s it’s all colourful. And there’s, there’s a triangle, a piece of the pie, which is about a quarter of the size. Okay? And that’s all the things that you realise right now that you don’t know. So listen to this podcast, you’re going to be saying, right, well, I definitely don’t know how to do a cash flow forecast. And I don’t know the numbers that I actually need to my business. And I don’t know how to create an online programme that you just know those things, that’s okay, you can go and find ways of, of learning them, you can go and get new skills you can you can get more knowledge. Now, there’s a tiny little sliver of the pie. And that’s the things that you realise that you know, so you’re listening to this podcast. And you might be saying, Yeah, I know about tracking your marketing, Katie, and I know about how I do a financial forecast. So this is a tiny sliver of that whole pie. And that’s all the things that you know, you’ve got a bigger bit of the pie, which is all the things that you know, you don’t know. And then the rest of the pie is all the things you don’t realise you don’t know yet. And that’s the bit that I want to focus on right now. Because those that seek help, those that surround themselves with the right people will thrive. Those that just focus on everything that they know, and all the things that they don’t know, and don’t do anything about it will be the ones that struggle during the next six to 12 months. So you are welcome to come into our Facebook group, the treat your business Facebook group, where we have loads of free workshops, and lots of guides and master classes that you can be listening to surround yourself by people who are living and breathing it like you are, who have walked the path before you and can give you that guidance and give them that advice. So head, look at the resources section underneath this podcast. And you can come and join our group in there. But I want you to really focus on all of those. Those things that you don’t know you don’t even know yet. So focus on your mindset, look at read read books, listen to podcasts that are going to inspire you surround yourself by with people reach out to people who are running clinics that are bigger than yours, that they’ve they’ve walked that path before you and they’ve got that experience that they can share with you don’t be that person that just stays on their own and tries to figure it out from your own brain because that’s really, really hard position to be in. So monitor your mindset make decisions from a place of abundance, not from a place of fear. I hope you have enjoyed this bonus episode. It’s been my pleasure to share as much knowledge as I can to help you transition through this period and come out the other side and really thrive through this period as well. So please join me in the next episode that will be coming soon. I head to the resources section to join our Facebook group. And I will see you on the next episode. Thank you for listening to treat your business with Katie Bell a podcast that tells you what you really need to hear. And now when it comes to running a successful business in the health and wellness industry that gives you the time, money and freedom you are wanting for access to our free workshops on how to get more clients in your business, how to make more income in the next 30 days. And to get more time back in your business on life, head to our free Facebook group today. Treat your business or head over to thrive dash business coaching.com. All of the links are available in the show notes. Hey there, this is Katie from the Jane team. If you’re new to the name, I’d love to introduce you. Jane is an all in one practice management software with helpful features like online booking, scheduling, charting, and billing. You’ll also be backed by a knowledgeable support team ready to help you every step of the way. Come get to know us at Gmail dot app. We’d love to meet you and see if Jane is the right fit for your practice.

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