So you have put your passion into practice and have an amazing practice with fantastic clients. Now what? If you are happy, then cool. Go back to doing what you were doing and don't read further. If you are curious on how to grow the business, then keep reading.
There are a ton of creative ways to expand your practice. And while I can't possibly cover all of them, let's talk about the common ways to grow and how to know if it is the right way for you!
- Becoming the manager - Your business keeps growing but there is only one of you. You can hire contractors or employees (that is a whole other blog for another day) to take on the extra workload. They work and you get income from it. This can actually lead to expansion of your space or multiple locations. Beyond managing the business, that means you will now be managing - people! Yeah! Does that sound like fun? For some of you...you love mentoring, teaching, and really having an influence in your profession. If that is you, this might be a route to consider. Another benefit, you get to be more choosy about who you work with. You get to take the higher paying clients or your ideal clients. You get to set your hours and it may mean you don't have to be in the office all the time. Sometimes you can manage from afar. Imagine waking up, doing your thing, and then checking in at the office. Then you go in after lunch to see your clients and see what your staff are up to. Cool huh?! Of course, it means more paperwork, payroll (which can be hired out) and you have to know how to handle the inevitable conflicts and varying work ethics of other people. But the freedom it gives could be really worth it.
- Work while you are asleep - Sounds funny, but you have tools that you provide everyday to people. Take those tools and put them into something downloadable like an online course that someone can purchase and download 24/7 on the interwebs, well that is like working while you sleep. It generates more income for you and it requires less face time with people. This means more time for you to do what you love in life - travel, sleep in, spend time with your family, or take a yoga class. It means your business works for you whether you are there or not. I want to be honest. It still takes time to create, market and sell products. But, it can still be worth it for some of you. So if you have creativity and like to provide solutions that don't require someone walking into your office, then this is something to consider.
- Go concierge - I love that word. I used to never talk to the concierge at a hotel until I was on a business trip and Miranda said to just call them about a restaurant recommendation. Ah-mazing...I just call, they give me what I need and it was easy peasy. It is that feeling of being taken care of. It is lovely. Well, you can do the same for your clients. Upleveling your services, providing a more intensive or all inclusive service means that your fees go up and thus it requires you to see fewer people. We provide a service like this. And in reality, it isn't exhausting because it aligns with our passion and is truly life giving. It allows a ton of flexibility in our schedules and our clients feel taken care of. Win-win. Building a program is intense and fun. This is where the options become endless. But higher paying clients can give you the freedom you are looking for and the growth in your practice that you are excited to see.
- Add to your expertise - You have been doing what you do for some time and you are good at it. (Which I just have to ask, why don't we say that more often? if you are good at something, shout it out!) Now you can speak on it, have events, retreats or be the next Oprah. Why not? Your practice then moves from being the office to being within you. You become the business and whatever you touch is part of your practice. This might be a good fit for the traveler. You carry your work with you, speak at an event abroad and turn it into a vacation. Now, don't be fooled. It is still work and effort. But if this feels energizing to you - go for it!
Did you identify with any of those options? You can also take on a few ways to grow the practice. Whatever you do, make sure it is aligned with what you vision for your life. Stay focused, disciplined and still have fun. It is a balancing act. One that I am still trying to master (and will be for the rest of my life) but the ride is wild and so worth it. How have you grown your practice? Share with us in the comments or on our facebook page! We love hearing from you!