Your Pinnacle Practice
August 2004
Welcome to YOUR PINNACLE PRACTICE!
A monthly practice- building newsletter for "go-getters" and
pioneering private practice professionals.
Each month we bring you the best information and resources we can find
to help you build your ideal practice and achieve the pinnacle
of success in your field.
Click
here if you are recieving this from a colleague and wish to subscribe
Click
here if you would like to share this newsletter with a colleague
CONTENTS
ANNOUNCEMENTS
1. August 4th Free Seminar- The
One Page Business Plan
with special guest, Business Builder Maria
Marsala
Writing a business plan is something every business guru advises but
few actually do.
The One Page Business Plan is the fastest, easiest way
to write a business plan. An
easy-to-use process that helps you capture your vision and translate it
into concrete results
Bankers require them. Business educators advocate them. Consultants make
a living writing them. And venture capitalists won't give you the time
of day without one... but most entrepreneurs, executives, managers or
small business owners can't and won't write them... it's just been too
difficult-- until now.
Coach Maria will provide an overview of the One Page Business Plan
and help you complete the first, and most important section.
Don't miss this seminar- put it on your calendar today!
For more information about this and future Free Practice-Building Seminars
click
here
To subscribe to this newsletter and receive free seminar announcements
click
here.
2. August
12th Free Seminar- HOW TO GET CLIENTS
with David Steele, author of How to Build Your Ideal Practice
in 90 Days
and the How to Get Clients Toolkit
- Are you in private practice as a therapist, coach, or other helping
professional, and want more clients?
- Do you work hard to market your practice, yet still struggle to get
clients?
- Would you like a full practice?
Believe it or not, getting clients and marketing are not necessarily the
same thing.
You can market till the cows come home and not get any clients. This has
been a
rude awakening for many private practice professionals resulting in feelings
of
hopelessness and despair at not being able to do the work they are called
to do
with the people they are called to serve.
"Marketing"
is communicating what you do. The primary result from effective marketing
is to create prospects. Then, you must convert your prospects to clients,
which involves
a distinct and critical set of skills and strategies not taught in any graduate
school!
This is not a marketing seminar!
You will learn specific strategies for getting clients that will maximize
your results from your marketing efforts and fill your practice.
You will learn:
- Why most private practitioners struggle to get clients
- How to create prospective clients for your practice
- How to convert prospects to clients
- Four closing questions that will get you hired
- How to overcome objections (hint- when your prospective client says
"I can't afford it right now," it is rarely about money!)
- An amazingly effective strategy you can use to get a client TODAY
(or anytime you want a new client!)
Includes FREE How to Get Clients
e-book To register click
here
3.
September 8 - Growing Your Practice with eCommerce
with James Komosinski, President of Practice
Pay Solutions
I've known James for years and have tremendous appreciation and respect
for his commitment to providing effective and affordable ecommerce solutions
for helping solopreneurs succeed in private practice.
This seminar will cover:
- How to start accept credit card payments, and why you should start
today
- How to eliminate waiting for client payments
- How to boost and manage database online
- How to automatically deliver a free newsletter or special report
- How to sell your services and products from your web site
- How to boost your business with affiliate marketing
Don't miss this seminar- put it on your calendar today!
For more information about this and future Free Practice-Building Seminars
click
here
To subscribe to this newsletter and receive free seminar announcements click
here.
4. How
to Get Clients Toolkit Ready For Shipping
Hot off the press! This book and audio program, including a CD
of
bonus material is finally ready for shipping.
If you want the best and most effective tools available for getting clients,
the How
to Get Clients Toolkit is for you, and it's guaranteed!
For more information click
here
Table of Contents
FEATURE ARTICLE
Why Businesses Fail
(And What to Do About It)
by Maria Marsala
No one sets out to fail! Most business owners read all
the statistics (maybe more than once) before they open their doors. Many
know the reasons why businesses fail. But some businesses operate under
this paradigm: "failure can never happen to me because I know better."
Is that you?
What most business owners miss is looking at the reasons
for business failure and turning them into action steps to help overcome
the odds of failure. How do I know? I once thought I knew better, too!
Bear in mind that even "adolescent" businesses fail.
According to the SBA statistics, 90% of small businesses fail within the
first five years. Many businesses aren’t producing enough income
because the business owners aren’t "business wise." They
may be excellent at a specific task – consulting, programming, massage
therapy, web site design, copywriting, etc. Or they have a great product.
But wise about the "business" of business, they are not!
In the past five years of my business, not one client
provided me with a business plan to review. Not one!
Including those who have been in business for more than 10 years. Two
of 100 clients have had marketing plans, but marketing plans don’t
work without a business plan and other focus type tools, too. The other
common (95%!) mistake I see (and help my clients correct) is pricing their
services very low as a way to gain market share and new clients. So low,
in fact, that a potential buyer will perceive the service or product as
being cheap and of low quality, even when the provider offers years of
expertise. NO ONE wants to hire a business that is cheap! Inexpensive
– yes; affordable - yes; cheap – no, no, no!
The most common problems business owners experience
stem from simple functions like streamlining, organizing, information
resourcing, marketing, planning, visioning, languaging, communication,
technology and ecommerce. Example: If you know that most businesses fail
because they don’t have a usable business plan, develop your own
business and marketing plans and use them daily; don't create one that
gathers dust on a shelf. I use the One Page Business Plan Book or Interactive
CD by Jim Horan. It helps business owners create very realistic, focused,
and well thought-out business and marketing plans, including scorecards
to help you anticipate and avoid business problems.
Example 1: Recently, a client turned down an opportunity
to teach computer classes on a subject she could easily teach. Using teaching
to market her business is on her marketing plan. So why not? Well, the
proposed classes weren't going to help her get business for her primary
business, they weren’t going to attract her ideal client, and the
pay was much lower than her usual hourly rate. She felt confident about
declining the offer. Of course, that same week, other new business –
the type she really wanted – came her way!
Example 2: Learn from my mistake(s). I often tell the
story, only half-jokingly, about how I had to move 3000 miles from home
to find a business plan I was willing to create. In 2000, Jim Horan, the
author of the One Page Business Plan was in Seattle, conducting a one
day workshop. I attended the workshop, and as I went through the process,
I started including business coaching and consulting as part of my plan
– something I hadn’t thought to include in my business before.
But I realized that while I loved life coaching and it helped my clients,
I wasn’t making enough money as a Life Coach to pay the bills.
My plan wasn’t finalized at the seminar, and because it seemed
to me that my business was about to change, I decided to go on a retreat
with the workbook, sit on the beach, and see what was to come next. I
realized that I had already turned away so many individuals who wanted
to work on their businesses – to create their plans, learn how to
market and network, and use the Internet. But wait! I have a Wall Street
Trading/Executive/Management background that's rich in business and business
development. This experience totally changed the main focus of my business,
and the rest is herstory.
Example 3: New client knows she wants to create a business
plan. She also has a strategy of increasing her income by joining four
organizations with networking opportunities for her to meet her ideal
clients. She joins the first two groups - total cost: $400.
As she starts her business foundation work, which includes the One Page
Business Plan, she realizes that her ideal client isn’t whom she
originally thought it was! Some clients might be found in the two groups
she's already joined, but not her ideal clients. As a new business owner,
she wants to spend her time around her ideal clients, first and foremost.
Planning just a little more for her business would have saved her $400
in membership fees.
What other simple things can you do to build a solid business
foundation?
- Use a one-page plan daily to create your to-do list and monitor your
business
- Create an Ideal Client Profile and Elevator Speech and define a niche
for your business
- Read one of the E-myth Revisited books by Michael Gerber
- Go with your strengths. Hire individuals whose strengths ARE your weaknesses
to “fill in the gaps.”
- Remember that there is no need to repeat the SAME mistakes others
have made
- Know what your business exit strategy will be
Most business owners don’t know what they don’t know.
Get assistance by hiring non-biased professionals who help you realign with
your vision, create plans and financial scorecards to monitor your business.
Look for someone who can suggest resources to help you and your business
grow. Someone who's been in your shoes and succeeded. Start looking at how
having a partner – a business consultant, coach, counselor, strategist,
organizer or planner – can help you grow your business. Ready
to learn more about business success? Take a look at the articles
I found on business failure that are posted for you on
my website. Learn to overcome the costly (both in money and your time)
errors that other business owners have already made. Give your business
a fighting chance to continue to succeed.
Remember: Short Term Planning = Long Term Success
FREE TELE-SEMINAR! Be sure to join us on Wednesday August
4th for The One-Page Business Plan with
Maria Marsala
For more information click
here
Table of Contents
CONGRATS!
Our PBI Participants Share Their Wins
CONGRATS TO: PBIer Annette Carpien (Allentown, PA) who writes:
I was recently offered an opportunity to do some life coaching on
a local TV spot. Over several episodes that span several months, the show
focuses on 3 out-of-shape 30-40 year olds who have begun a new strength
and conditioning program, watching them enhance their fitness over time/
discussing their struggles etc. with a local, top-notch personal trainer.
I was asked how coaching might fit in with their "life makeovers."
Congratulations Annette, and watch out Dr. Phil!
COOL RESOURCE OF THE
MONTH
This is a cool system for reaching new subscribers for your e-zine! Totally
free. Recently suggested to me by a colleague, OptIn
Storm is similar to a link exchange where you install their popup
on pages of your website selected by you, and your e-zine listing shows
up on other websites of the category you choose as long as you have "credits"
generated by visitors to your website viewing the popup.
Sounds complicated? Not really. It's very easy to set up and kinda fun
as well. For an example, click
here to view one of the pages I installed the popup, then click someplace
else on my website. Notice that the popup shows up when you exit that
page, and does not obnoxiously interfere with navigation. Also, their
privacy policy assures that they do not collect and use e-mail addresses
of people subscribing. So far, I've tested this system enough to believe
them.
The more websites using this system, the more subscribers you reach,
so pass the word about OptIn
Storm
INVITATIONS
- We invite you to share this newsletter with a colleague.
There is a tremendous need for our services, and we need to work together.
Practice development is always in need and we want to be the leaders
in our field.
- Please contact
us with ideas and resources you have found useful so we can pass
them on!
- We invite you to get the support you need to be successful in your
practice.
We are available for information, training, ideas, mentor coaching,
etc.
- We invite you to become an affiliate of BuildingYourIdealPractice.com
and begin to earn extra income just by sharing our programs and products
with your friends and colleagues. For more info click
here.
- If you are a private practice professional who received this from
a colleague, we invite you to visit our web site and contact us for
information on joining us.
How do you like our newsletter? Your feedback is welcome!
Until next time…
David Steele, MA, LMFT
Founder and CEO of BuildingYourIdealPractice.com
The purpose of this newsletter is to connect, support each other, inform,
and build a strong community of helping professionals who want to have
thriving businesses and fulfilling lives. Your submissions and feedback
are welcome!
Click
here if you would like to share this newsletter with a colleague.
Our Mission: To provide the tools, information and support to help private
practice professionals have their ideal practices in the most effective
and efficient ways possible.
Copyright notice: This newsletter is copyrighted and all rights
are reserved. Feel free to share with others as long as our contact information
and authorship is included. U.S. Library of Congress ISSN#:1530-3055
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