Riding the Waves of Building a Wellness Business
Deep inhale, longer exhale. It’s likely been an eventful journey since the inception of your wellness business. We know the first year feels like a rollercoaster ride—filled with exhilarating wins, daunting setbacks, and the pervasive feeling of imposter syndrome. Keep going and be proud of all that you have accomplished!
Imposter Syndrome
There are moments when the weight of responsibility feels overwhelming and you may begin to question your ability to steer this ship. Every single business owner experiences the cyclical beast that is imposter syndrome, even when they are a master at their craft! Don’t hide- stay anchored and use these sensations to drive you through and forward. If you begin to feel isolated and notice any changes in your well-being, be proactive and seek support now. Now is the time to stay attuned to your own well-being while assessing the success of the foundation laid for the business. Be sure to evaluate the effectiveness of every decision made, as these choices form the groundwork on which the entire business stands.
More Time, More Money
If you could manifest two things, we bet it’s more time for yourself and more money. Sometimes, new business owners still have ties with previous jobs while building the business and transitioning to full-time entrepreneurship. Other times, they deep dive into the abyss and struggle to make it work financially. It’s wise to stash away at least a few months of cash reserve before opening your doors so that you can float your finances until your business begins to consistently profit. Stay one step ahead and begin to regularly review systems, measure key metrics, know your profit margins, and project cash flows so that you can glance ahead, make smart choices and create more peace of mind.
Lone Wolf Mentality
We’re just going to say it- the lone wolf mentality is outdated. As entrepreneurs and humans, we need access to resources and deep connection with people in our community who provide knowledge and experiences, both similar and different than our own. Solopreneurs typically struggle to open up and let go because they are often the lone wolf types who can operate well as hyper-independent. They struggle to ask for help or receive it when it’s available and pride themselves on this deep childhood conditioning. We’re here to emphasize that being stuck in a high functioning fight/flight/freeze mode is no longer honorable and it’s crucial to delegate tasks in your business.
Operational Rescue
The realization has probably dawned that you can’t do it all alone, but paying for someone else to do the work when the business isn’t flourishing just doesn’t make sense right now. In the process of this juggling act, a learning curve emerges. Now is the time to take a small step forward and identify what aspects of the business you genuinely enjoy and excel at versus what creates mental roadblocks. It’s about understanding where to channel your energy more efficiently. If you’re still providing services to clients full-time, it may be necessary to pull you out of the treatment room soon. At this stage in the game, having an accountant and bookkeeper on board is your first step to freeing up mental space. It can’t be stressed enough, you must know your numbers to run your business well. Next, it is essential to review your operations and build systems that provide you with a return on your investment (ROI) and an elevated experience for you, your staff and your clients.
Staying Connected
Additionally, establishing and staying connected to the business’s mission statement, value proposition, and core values is pivotal for the entire duration of your business. It’s not just about driving the business to expand in the first few years, but about building out the infrastructure in a sustainable way that feels good. Feeling a deep connection to the core of your business brings more fulfillment and allows you to show up as a leader in a more intentional way. As you gain more staff, you’ll want to teach them who your business is and why you exist, and for whom. At this phase, you’ll begin to peel the onion back with your marketing and branding strategies and you may now have new information that helps you drill deeper into your target audience. By becoming more specific, you can identify a niche that provides.
Trust the Process
Moreover, finding the balance between retaining control over the quality of the product or service and trusting others with your vision is often an ongoing struggle. It’s a delicate dance, learning to let go without compromising the integrity of what you’ve built. As you reflect on this whirlwind of a year, it is necessary to pause and find equilibrium in the ecosystem that you have carefully constructed. There’s a lot to learn and refine, but the determination to succeed and the passion for your business will continue to be the driving force in this rewarding journey.
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I work with clients in-person within a 30 mile radius of Asheville, North Carolina or virtually anywhere. Start your journey to better operational health with my affordable and easy 3-step consultation process or select a package to save on longer-term support. Add-on QuickBooks Online management or bookkeeper training services to assist with your baseline financial needs.