Three Problems Killing Your Business

At this point in my journey, not only have I talked to countless PTs, chiros, massage therapists, and coaches who are running into these three problems, but I’ve also experienced them myself. 

I remember the struggle, trying to crunch the numbers calculating how many clients I needed to see in a week to replace my salary. At times, it seemed daunting and stressful. 

But now that I view things in my own business differently, it’s actually pretty simple, and generally, it comes down to one of these three things:

Problem #1 - You’re undercharging

You’re a good person, altruistic even. You got into this profession to help people. Little did you know it would be a struggle to pay your own bills, go on the vacation you want to go on or buy the house you always dreamed of. 

We see this too often, clients come in with a rate of $100 per session because they tell themselves instead of making $35-50/hour, $100 should do it, but then they get stuck, trapped in this limbo of thinking they can’t leave their job, because in reality, the math doesn’t work out or they don’t have enough time to see more volume. 

We work to get our clients near $200 visit average, and here’s what that means for them and the business: 

• To make $10,000/month, at $100 visits, you’d need about 24 visits per week. 
• Now, if we simply double the average visit rate, you’d only need to see 12 visits per week to make the same amount.

Now, here’s the interesting part, most people think it will be easier to sell the $100 visit, but it’s really not. It’s generally the same problem at $100 or $200, so you might as well figure out how to sell at the $200 price point and save yourself the need to acquire TWICE the client volume. Ouch…

Problem #2 - Low Lifetime Value, aka not selling packages.

“We get our clients better…faster!” - then you better charge a premium, or you’ll be EXTRA reliant on volume. 

Now look, I get it. You’re probably saying, “But Ray, I left the volume game”... no…You left the HIGH volume game. You still need to understand how volume affects your cash flow. 

Here’s an example, let’s assume you’ve nailed your price point at $200 per visit, but your average length of engagement with a client is only 4 visits (this isn’t uncommon in the cash game), so now you have a lifetime value of $800 per case/client. 

This means, in order to make $100,000/year, you’d need 125 NEW clients over the course of the year…and that’s assuming you closed at 100% (wait til problem #3 for that one).

This is exactly the problem packages can solve for you when you actually have a client journey that aligns with the plan duration. Let’s say we can get you to sell packages of 10 visits for $200 a visit, which now brings the package value and in this example, lifetime value up to $2000.

What this means for you is now you only need to acquire 50 new clients per year (just over 4 per month) to make $100k. That sounds much more appealing, right?

Problem #3 - Low conversions to a plan, aka you need to develop your sales skills more than your clinical skills.

Let’s say you’re doing everything above correctly but find yourself closing at a 30% rate to a plan of care/action. So for every ten evals, you close 3 to a package, bringing in $6000 in total to your business (10 evals —> 3 convert to packages at $2000 each = $6000). 

With this conversion rate, you’d need 165 new EVALS to bring in $100k in revenue - that’s a lot of missed opportunities.

Now, let’s say you invested in those skills, and instead of closing at 30%, you started closing at 80% - this wouldn’t be crazy. It’s honestly very attainable with the right messaging and sales skills, and now, you’d only need 63 New Evals - doesn’t that sound easier???? Yes, yes, it is easier. 

The best part is that all 3 of these problems are easily solved when you put the right resources in the right place.

So now you have a choice. Stay where you’re at, or start tackling these problems head-on and FINALLY create some freedom for yourself. 

And when you’re ready to do so, we’re ready to help.