Grow your Therapy Business

Insight, Integrity and Inspiration

Grow Your Therapy Business

Insight, Integrity, Inspiration

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Question 13: Where’s the next competitive edge for your business

At the weekend I went to a conference that had a presentation by Mike Harris. He has made huge leaps in three major businesses in his career… he introduced the first telephone banking that would be available 24/7. We take it for granted now but at the time the attitude was, ” why would anyone want to do banking in the middle of the night and not through their branches?” The Independent newspaper were very scathing initially, stating in it’s headline “First Direct, the Bank for Insomniacs”.
Having had one incredibly successful launch of First Direct Mike then went on to set up the first proper internet bank, Egg and subsequently at Mercury Communications. In each case he has had a bold vision of the seemingly impossible.

His book “find your lightbulb” is a great support for coaching where you have a specific idea. he says start with the final chapter…as though it had already been achieved and work backwards. he should know he has implemented something completely new.. or at least a completely different way of doing something a number of times very successfully. As you know if you have been following these blogs that is the approach suggested in an earlier question.

For your business, taking into account the answers you have had from your previous questions about the threats and opportunities in the market, who your ideal client is and your unique selling point ( why people should buy from you).. ask yourself this question..

“If money were no object and it could make life so easy what would my ideal client really like in relation to my market?”

So Mike Harris knew that there was a market of stressed office workers who couldn’t get to a bank when it was shut but needed to sort out their finances. He also knew that he needed to recruit and retain intelligent and enthusiastic employees on the end of a line to deal with the customers. Not surprisingly First Direct has been a real success story and still exists today.

If you are a therapist, what would your ideal customer really like? Maybe a shorter massage after work on a Friday before going out ( could you do a chair massage?) or they don’t really want to drive to and from your premises.. could you do a deal with the local ( luxury) private hire company who can pick the client up and drop them back home again ( which you would charge a premium for of course!)? Don’t make the mistake of thinking that there are no people with money out there – there are but they may be more cautious now.

So be as creative as you like, brainstorm some ideas, without passing judgment… you could of course go to where a group of your potential clients hang out and treat them like a focus group, to find out what needs are unmet…. although in my experience it is often the “off the wall suggestions” that people don’t think about.

What services/ benefits of other businesses could you translate to your business… taking the banking example… what about having 24 hour holistic massage for local stressed out business people ( of course you would have to be careful how you market that one!!!!) especially if they have just come off a transatlantic flight and are jet lagged and can’t sleep a relaxing holistic massage maybe ideal!

Look at the most successful companies in any business area and ask
” What can I learn from them/ adapt from that?”

Recent Posts

  • Question 1: Why are you in business
  • Question 2: What Is Your Vision
  • Question 3: What Is Your Unique Selling Proposition (USP)
  • Question 4: Is your business working to your business plan
  • Question 5: What is Your current passion
  • Question 6: Want more hours in the day
  • Question 7: What Are the Obstacles in Your Way to Achieving What you Want to Do
  • Question 8: What are you doing to Plan Your Time & Prioritise urgent & important and make sure you take action on those plans
  • Question 9: What are you doing to clear up past messes
  • Question 10: How well are you measuring and controlling the business drivers ( key business indicators) out of 10
  • Question 11: Are there trends in the niche, market or industry that are likely to give opportunities to the firm
  • Question 12: Are there trends in the niche, market or industry that are likely to provide a threat to the firm
  • Question 13: Where’s the next competitive edge for your business
  • Question 14: which of your competitors are successful and why
  • Question 15: Are you still being a copycat
  • Question 16: How Good Is Your Pitch
  • Question 17: How Flexible Is Your Business
  • Question 18: How Are You Doing
  • Question 19: Do you have a clear sales funnel
  • Question 20: What is the Best Way of Getting New Clients
  • Question 21: Have you reviewed the optimum contribution for each product or service
  • Question 22: Are You A Seller or The Long Term Trusted Partner
  • Question 23: How are you spending your time
  • Question 24: What percentage of sales are from one person
  • Question 25: How Far Have you Come
  • Question 26: What Do You Want? How Do You Know When You’ve Got It? What Do you Need To Do?
  • Question 27: How Social Are You?
  • Question 28: What are You Prepared to Give Up?
  • Question 29: Who Are You Hanging Out With?
  • Question 30: What Can you Do To Increase Your Profit?
  • Question 31: How Effective Is Your No?
  • Question 32: how scaleable is your business?
  • Question 34: How To Win in Business?
  • Question 35: Look inside
  • Question 36: Whats your money mindset?
  • Question 37: What would Richard Branson do?
  • Question 38: What’s Your Money Mindset?
  • Getting Started

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