A Flawed Business Model

Most health business owners do not give enough consideration to their business model. For many it can send them to an early grave... or at least the death of their hopes and dreams for their business.
The trap for health professionals is that you get so caught up working in the business that you never take time out to work on your business. How many times have you heard that? Probably hundreds right? How often do you take time out to work on your business model?
A flawed business model has a number of issues including:
Not Sustainable
If your basic business model is flawed then you will not be able to sustain your business for long. You will find yourself working harder and harder while you burn yourself out. A flawed business model has a limited
In other words, you will not be able to grow your business beyond a certain size. A good question to ask is... 'How long could my health business continue to operate successfully without me?' If the answer is not long then it is too dependent on you. The result is your business cannot be scaled up beyond your own personal efforts.
Not Profitable
This one speaks for itself. If you have the wrong business model then you are probably suffering from an acute lack of profits and struggling to make ends meet.
Stressful
If your business is causing you no end of stress then this is usually symptomatic of a flawed business model. Typically this is because we tend to create a business that relies solely on us doing everything, making all the decisions, bringing in all of the clients or patients, making bookings etc.
Undervalued
Have you thought about your exit strategy for your business? Will it be a valuable asset that you can readily sell when it is time for you to exit the business? Not if you have a flawed business model it won't.
So if you are suffering right now from a flawed business model what are the key areas you need to go to work on? There are a number of them but here are the two areas I advise my coaching and consulting clients to work on
A Personal Trainer when they have someone in their studio to train. The Life Coach is only earning an income in their business when they are coaching someone face to face.
If the income in your health business is only derived from you trading your time for money then you must fix this immediately. So take your specialized knowledge and turn it into products as a starting point. This way you can create the product once and get paid multiple times for the effort. All of a sudden you have leveraged your time exponentially.
The next step then is to create RECURRING INCOME streams. This is income that is paid on an on-going basis by your patients or clients. The great thing about this type of income is that you only have to find the client once and then they will continue to pay you over a period of time.
Marketing Systems
When it comes to marketing the fundamental flaw in most health businesses is the focus on searching for new clients. The never-ending relentless search for new clients is preventing you from growing your business to new