Business success – Running a natural health business
Business success in the natural health industry doesn’t happen by chance. It takes strategy, resilience, and a deep understanding of the industry as well as principles that govern success. If you’re passionate about wellness, holistic healing, or natural therapies, building a thriving business can be both fulfilling and financially rewarding. However, to achieve long-term success, you’ll need more than just passion — you’ll need a solid business plan, adaptability, and an awareness of how to create the outcomes you desire.
Let’s break down the key factors that contribute to running a successful natural health business with some tips, awareness of common pitfalls, and the application of several strategies to get you started.
Business needs a strategy
Running a business is not just about offering a service or selling a product. It’s about helping your customers solve their issues. In the natural health world, your business might be about helping with everything from chronic pain, stress, hormonal imbalance, inflammation issues or to foggy head and lack of energy. The key is to make sure your business meets the needs of your clients in a way that’s clear for them to understand, trustworthy, and different to that of your competitors.
However, there is no set way to run your business. No magic formula because success is often circumstantial. The market in your area, cultural attitudes toward natural health, household income, population demographics, and even local competition — all can drastically alter the effectiveness of your best strategies.
An example would be a business located in a rural area with older demographics may thrive on one-on-one consultations and traditional advertising while a natural health business in an urban area with younger, tech-savvy clientele might find greater success through social media, online consultations and order online wellness supplements.
How business strategy can help
There are certain business strategies that can help you plan which will impact your business regardless of your goals, market size or the type of industry you work in. The first of these is that to expect for things to go wrong because something always can go wrong. So be prepared. Whether it be product shortages, staffing issues, less client bookings always have a Plan B in case something happens and you may even need a Plan C. Test something new before you put it into action. For example, here at the clinic we have back up suppliers if we can’t get stock from our regular ones, or we may get some products done in compounding if a supplement is unavailable from our regular supplier.
It is also important to be mindful of schedules and time. When running your business, especially as a solo practitioner or if you have a small team, time is your most limited resource. Create strict deadlines for tasks and stick to them. This will prevent projects from dragging on. Remember also that shorter timelines bring greater efficiency and better productivity.
Don’t forget the 80/20 rule which says that 20% of your clients generate 80% of your revenue or 20% of your services deliver 80% of your results or 20% of your marketing brings in 80% of your leads. Identify where your most valuable returns come from and double up on using those areas. If you have an organic skincare line and that accounts for the majority of your sales, invest more in that. Don’t waste time or money on offering things that only produce lean gains.
Implementing KPI’s and strategies
Remember also that in any team, a small percentage of staff are responsible for most of the value produced. Who are your key players in helping you grow your business? Is it your therapists, customer support, or marketing help? Reward those that add most value to your business and rethink the roles or outsource those that don’t add as much value. What are your key performance indicators (KPI) and use these to boost your system.
Remember that if a campaign doesn’t work to just stop doing it. Don’t put your energy into something that isn’t working regardless of it being a social media campaign or perfecting a service that has few people take advantage of it. A change if something is not working is always a good idea regardless of how much lost effort in the past. Better to put your time into things that do work for you as a business owner. Always evaluate how what you offer serves your client best. One of the most powerful drivers of business success is persistence. If you’re offering something that you genuinely believe in — something you’re passionate about, skilled at, and that meets your market needs — stick with it.
What you need to be aware of in business
If you are just starting your business select a few areas clients need and then expand. Focus on areas that you do best and expand from there. Remember that word of mouth is the best recommendation for any business. Also be aware of all the things you need to be compliant in for government laws. Be aware of what you need for health funds, Medicare and always work within the scope of practice. Remember also you are an educator for those unaware and let your passion shine and grow.
The road to success
In business, it’s easy to ride the wave of a good season and think it will continue forever. Success can’t be taken for granted as trends change. Sometimes, there will be trend towards weight loss and in hard time’s mental health comes to the forefront. You need to be adaptable keeping an eye on your client needs. New research and regularly update skills is important. Your team also needs new, innovating incentives. Interested in more on leadership? Check out my article on why leadership courses are crucial on https://www.wellbeing.com.au/at-home/work/leadership-courses-are-crucial.html
Running a natural health business isn’t easy — but has its rewards. Combine sound strategies and commitment to help your clients reach their goals. That can also bring your own fulfilment. It won’t happen overnight. It will take passion, planning and focus. The result is not only have a business that survives but one that thrives. If you are in business or work in natural health contact us at www.stressfreehealthmanagement.com. We are looking for new people to join us. (Pic thanks Matthew Henry)
