I don’t talk about collectives much because I have seen so few of them. BUT I think we are seeing some major sea changes in our profession that could make this more feasible. It requires maturity, commitment, and a heapin’ helpin’ of frequent communication. But it’s worth considering.
I don’t agree with everything in here — it focuses heavily on fixing things with the power of your mind and I think you’ve got to engage your heart as well to make this level of change — but I think it’s worth reading to see if any of the limiting beliefs feel familiar.
Tax time can bring up all kinds of money issues for us. Here’s a healthy perspective on that.
“The first principle is that the business should be successful: that it should make money. There is a belief prevalent in America and other Western countries that being successful, making money, is somehow wrong for people who are trying to lead a spiritual life. In Buddhism though it is not the money which is in itself wrong; in fact, a person with greater resources can do much more good in the world than one without. The question rather is how we make money; whether we understand where it comes from and how to make it continue to come; and whether we keep a healthy attitude about the money.“
The whole point then is to make money in a clean and honest way, to understand clearly where it comes from so it doesn’t stop, and to maintain a healthy view toward it while we have it. As long as we do these things, making money is completely consistent with a spiritual way of life; in fact, it becomes part of a spiritual life.
“The second principle is that we should enjoy the money; that is, we should learn how to keep our minds and bodies in good health while we make the money. The activity of creating wealth should not exhaust us so much physically or mentally that we cannot enjoy the wealth. A business-person who ruins his health doing business is defeating the very purpose of business.“
The third principle is that you should be able to look back at your business, at the end, and honestly say that your years of doing business have had some meaning. The end of every business enterprise we engage in, and in fact the end of our lives, must come to every person who ever does business. And at the most important part of the business – at the end, when we are looking back on all we have achieved – we should see that we conducted ourselves and our business in a way that had some lasting meaning, that left some good mark in our world.”
The Diamond Cutter: The Buddha on Managing Your Business and Your Life
Geshe Michael Roach and Lama Christie McNally
If you want to explore your relationship to money, you want to read chapter 2 of The Accidental Business Owner.
I’ve been working my way through The Art Of Pricing, trying to translate it to a massage practice.
Recently, one bit of advice caught my eye: if there’s a product you can’t keep on the shelf, you need to raise the price.
What is something you “can’t keep on the shelf” in a massage practice? If you’re booked 2-3 months ahead, turning away clients, with a waiting list YOU are the thing you “can’t keep on the shelf”.
Maybe you don’t want to raise your prices the first time that happens. But if that’s been true for you for 6-12 months, seriously consider raising your prices. Your missing an opportunity to price your most popular product — your appointments — in a way that is consistent with market demand.
It’s not a way of “taking advantage” of your clients. It’s a way of honoring the value of your work and taking care of yourself financially.
How many income streams do you have, even within your massage life? It can be smart to have income from more than once source.
Private practice + corporate massage.
IC in a group practice + your own outcall clients.
Work in a gym + teach at a local massage school
Employee of a franchise + CE provider
The benefit is that if one income stream gets dammed up your other stream can still be free-flowing.
When my car was stolen that stopped up my ability to do outcalls for 2 weeks. But my in-home practice was fine.
Like everyone else my hands-on work was stopped short by covid but I was still able to write and create online courses from home.
Where can you bring a little fresh water into your income infrastructure?
How do you grow your practice (make more money)? One way is attracting new clients. Another way is to “grow” your existing client base.
Are there clients who would benefit from longer or more frequent sessions? Can you, standing confidently in your professional expertise, make that recommendation?
Are there clients currently getting 1-hour sessions that would benefit from a 75-minute or 90-minute session? Are there clients seeing you monthly that could benefit from every 3 week sessions? Can you, again standing authentically in your professional expertise, suggest that to them?
Are there session lengths (the 30-minute session is one to think about) that just don’t serve your practice well and keep you from having the schedule you’d like to have?
Are you confident and consistent in suggesting / offering clients a chance to re-book their next session at the end of this session?
When you genuinely believe a client needs to see you a certain number of times / in a compressed schedule (for example, twice a week for 3 weeks; every week for 4 weeks, etc.) to get ahead of a problem, are you offering that to them in a way that shows you are coming from a place of professional concern and compassion?
Are you “spending” too much money on discounts? Are your discounts too large? Are they serving your practice (every discount should help strengthen and grow your practice)?
Is it time to raise your rates? Is it past time to raise your rates?
Are there products you regularly recommend to your clients — even giving them links to where they can buy them — that you could carry? This works best if these are products that legitimately fit your client’s needs.
We jump quickly to “must get more clients!!” but that isn’t the only way to “grow” your practice. Take a look at what’s already going on and ways you can step up your game.
Make sure, too, that you’re offering your best customer service. https://www.amazon.com/dp/B08NJ3XWHQ