Nutritionist and business coach Samantha Gowing shares her insights on how developing an entrepreneur mentality can empower health practitioners and their relationship with their finances.
I’ve been mentoring health practitioners, cafe owners and chefs for over five years professionally. One of the biggest issues they collectively face is how to price their product effectively. In particular, health practitioners are a shy mob when it comes to billing and they find it challenging to charge their true worth. So let’s take a look at what holds one person back and propels another forward with a clear strike.
Business Owner A – The Hourly Rater
- Charges the going hourly rate for their consult
- Spends 90% of time performing their modality
- Handles many administrative tasks him/herself
- Has no clear future or direction for the business
- Majors in minor things
- Days are filled with unplanned interruptions
- Lives under the tyranny of the urgent a.k.a. panic mode
- Prefers to ignore business issues
- Always covers for other staff
- Has a collegial relationship with staff
- Rarely takes holidays
Business Owner B – The Entrepreneur
- Spends 30% of time developing business
- Delegates 80% of administrative tasks
- Has a five year vision for his/her clinic/practice/PT business
- Has an exit strategy in place to franchise, expand or sell the brand
- Focuses on high payoff activities
- Develops high-end products with clear value to the client
- Rarely becomes distracted by small things
- Works thoughtfully and diligently, and with a sense of calm
- Keep a focus on the business
- Rarely covers for others when ill
- Acts as a leader of the staff
- Takes a week holiday every three months
What is the most important asset any business owner has?
Freedom. The biggest mistake most health practitioners make in business is not to prioritise time for personal and business development. Working on the business, not just in the business, will develop systems and strategies. Not doing so is the most prolific harness that holds any business owner from realising their goals.
Three critical elements of a successful practitioner mindset
1. Adopt an entrepreneur’s mentality
2. Categorise your ABC class clients 3
3. Reprogram your beliefs about money – and your right to be successful
Money is an accurate reflection of our beliefs
- The best place to be with money is not to need it.
- Your level of income and wealth is governed by your beliefs and your comfort zone.
- We will look for evidence to support our currently held beliefs - Beliefs vs Truth.
To identify your beliefs, habits and “programming” about money, look at your recurrent patterns of behaviour and experiences.
1st step in letting go of old beliefs is simply to identify and thus illuminate them.
2nd step: Decide whether you want to hang on to them or let them go.
3rd step: Replace them with new ones.
This article has been reproduced with permission from Samantha’s blog.
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