5 Ways to Optimize Your Operations for Growth
June 20, 2023
Without question, growth is the number one goal for every business in our industry. And despite the odd times we’re in, growth is possible—even if the business climate appears less than optimal.
As a Mindbody Certified Business Consultant, I spend a great deal of my time designing, strategizing, reimagining, and working with businesses to position them for growth. After years working with successful wellness brands, I’ve found that sometimes the smallest tweaks make the biggest impact.
Here are a few simple ways to set your business up for long-term growth and success.
Maximize your existing space
Many of you are thrilled to be ‘IRL’ and want to make a brick-and-mortar work, despite high rent and payroll (Mindbody Capital can help!). With that in mind, this is the time to be even more strategic and take advantage of every inch of your current space and schedule. Now may be a good time to up your retail game, add express classes or offerings during downtimes, or schedule workshops or teacher trainings.
Also, you may be missing out on opportunities to increase revenue and help more people just by catering to a fresh customer base. If that’s the case, create specialized services for an older demographic, market to a new neighborhood, or add a new wellness modality (infrared sauna, anyone?).
Check out these guides for tips to grow your clientele and increase diversity in your business (it’s a win-win!) with specialized services:
Dial in client engagement
The client of the future expects their needs to be understood, satisfied, and anticipated. With that in mind, consider how your business can be more client-focused and high-touch. How can you better personalize your communications (more on that next)? How can you create a sense of connection that makes clients want to spread the word about your business, interact with your brand online, and commit for years to come?
Understanding and relating to your community is foundational. Find out what makes them tick, what topics they want to learn about, and what other services they’re interested in trying at your business. Attracting new clients is one thing; retaining them is another. Stay in communication so you stay up to date and can meet their unique and ever-evolving needs. Not sure where to start? A simple survey or small group feedback session is a great way to connect.
Create a communications niche
When it comes to communication, one size definitely doesn’t fit all. That’s why I highly urge you to sculpt out a “communications niche,” or a defined audience, message, and method of communication to keep your team on track and your clients in-the-know.
The concept of a communications funnel or cycle isn't new. It’s often called a “sales funnel” or “flywheel,” but essentially it all means the same thing. You want to have a purpose and process behind all of your communications, both internally and externally. This means having a clear path to client acquisition, but not without also considering your target audience's needs post-sale as they grow and thrive in your community!
Confirm your pricing and sales process
Have you optimized your pricing recently? Doing so should be a regular practice, ideally on an annual or semi-annual basis. When structuring—or restructuring—your offerings, recognize the most important offering you have in terms of value (beyond price), and offer it to the client first, giving them a seamless transition into foundational offerings like memberships or autopays. Be careful not to overwhelm prospective customers though. Limit your pricing options to as few impactful options as possible. The more specific your features and benefits are, the better! This will also help your target client to see value, purchase as quickly as possible, and dive into your services and offerings.
Your sales process is critical to the success of your business. Make sure yours creates excitement but feels authentic. Check out these sales process best practices for both fitness businesses and salons, spas, and wellness businesses.
Reinforce your unique selling points
I often say, “We're an industry full of copycats and hype.” But when I think about the future and examine the current business climate, those who are doing well are dramatically different from those around them—and I don’t mean geographically. Lean into your uniqueness and separate yourself from your competition.
This may mean expanding or contracting your services and offerings so you can present the very best of what your business brings to the table. Right sizing your business to better meet the needs of your ideal client’s needs is a better way to grow your business!
Sometimes you need to do more for your clients to increase your share of their wallet. But at times, you are offering too much and diluting your ability to be truly unique and excellent.
The bottom line
When I think of the clients who are crushing it and doing big things right now, these tried-and-true strategies are second nature to them.
I recognize that thinking about all of your to-dos and growth opportunities can indeed be overwhelming. My advice: Start small and iterate as you go. Also, work with someone who can support you when you need it.
I'd love to offer you a free strategy session where we'll discuss your KPIs and metrics for success, along with a plan to bring it all together. You bring your software. I'll bring my strategy. Let's talk soon!
