Becoming Expansive in your Wellness Business
If you’ve survived the first few years of owning a wellness business, it’s safe to say that you’ve got what it takes! By now the landscape has transformed considerably and the challenges, though different, are still equally demanding. The top priority remains staying anchored to the foundation that you built in the early stages and now building and planning for succession. The financial aspects at this stage are critical and will become a fundamental cornerstone, demanding accuracy and attention.
Above and Beyond Communication
You’ve decided to trust the process and may find yourself with a team that has allowed you to feel more safe letting go. Delegation has emerged as a necessary and non-negotiable survival skill in this phase. Effectively communicating your vision and your standards of exceptional service to your staff is key while allowing for diverse perspectives and minimal micromanaging. It has likely been a growth opportunity for you to empower other brains of the operation to contribute their skillset while trusting that their work is consistent with your brand. It’s not just about delegating tasks though; it’s about developing key players and keeping your team connected to the mission and values of the business while providing the best service in town.
In the midst of all this, succession planning has emerged on the horizon. Succession planning, the often overlooked process of identifying and developing new leaders who can take over the business or opportunities for a future sale, is becoming a focal point. It’s about strategizing for the continuity of the business, developing talent, and ensuring a smooth and valuable transition in the future.
Stress Less, Make More
As you’re well aware, maintaining equilibrium and carefully preventing burnout have become a part of your journey. Stress management is at the forefront as the responsibilities and demands increase. Finding balance between work and personal life, while ensuring the business succeeds, is a constant never-ending cycle that requires stamina.
One way to reduce anxiety and help offset this cycle is the obvious- for your business to be profiting comfortably into the foreseeable future. Ensuring your operations are a well-oiled machine and your financials are dialed in, it’s time to let sales and marketing take the spotlight. Focusing on where to allocate the marketing budget, rethinking strategies, and redefining the sales approach become paramount. Reassessing the flow of operations, particularly with an emphasis on sales and marketing, should now be a regular part of your routine.
Finding your Flow
Focus heavily on your internal resources and how you show up as an intentional leader in your business. Go another layer and solidify a rhythm to your operations that mirrors the wisdom of the seasons. Tap back into your creativity and find your flow that may or may not have been lost in the chaos of starting your business. Facilitate weekly meetings, quarterly planning, and chart the financial course ahead so that you can weather unforeseen storms and economic contractions. Fine-tune the business from every angle so that you have more steering power.
Begin to envision traversing the full spectrum of business ownership with ease. Use your scars and willpower to help you adapt, delegate, and plan strategically. Be the observer of this challenging yet rewarding phase and continue your quest for growth and improvement. You may be looking for an out, and maybe that’s the move, but sit with the power of staying and working through your limitations. There are many gifts to be received on the other side of adversary.
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