********************************************
Abundant Private Practices Newsletter
December 2006
********************************************
A monthly electronic newsletter created
specifically to help you fill your natural
therapy practice.
Each issue contains a powerful practice
building tip that you can use right away!
You are getting this newsletter, because
you or someone at your home/office subscribed
to it. If you no longer wish to receive the
information, then just scroll down to the end
of this newsletter and remove yourself from
the list.
********************************************
IN THIS ISSUE:
********************************************
1. Welcome Notes from Margaret Gill
2. Pricing to Fill Your Practice
3. Make 2007 Your Best Year Yet
**Early Bird Special** on the
Full Practice Building System
4. Mz Margz goes MAD and Offers one month of
personal coaching for $199. It's only for
those who are quick, dedicated and ready to
kick some serious butt in January 2007
5. Subscription Information
********************************************
1. WELCOME NOTES
********************************************
Hello <$firstname$>
This month we are going to discuss pricing.
With 2006 quickly drawing to a close, it is a
grand time to review your pricing and re-align
your prices in 2007 if necessary.
First off, I think pricing is one of the most
difficult topics to address in a newsletter
since it is very personal and so many factors
contribute to what you charge as a therapist,
including:
- Your experience prior to becoming a therapist
- Your experience as a therapist
- Your track record as a therapist
- Your target market
- Your niche or specialty
- What you feel you are worth
- The demand for your services
- And more
I also know that my readers are at different
stages in building their practice. Therefore,
please take the information that works for you
and discard the pieces that don't! And as always,
I love receiving your feedback, so if you have
comments or questions please email me at
info@margaretgill.com
Keep striving toward having the best
natural therapy practice on the planet and
keep being a remarkable human being.
Love
PS - Keep an eye on your inbox in the week
after Christmas - I have a little gift coming
your way to help you celebrate your
achievements in 2006 and get focused on 2007.
http://www.abundantprivatepractices.com
***********************************************
2. PRICING TO FILL YOUR PRACTICE
***********************************************
Would you agree, especially for newer
therapists, that there is no better way to
build your practice than by actually treating
clients?
I believe that until you have a full practice,
you should not turn someone away due to money.
This thought really hit home recently when an
inexperienced therapist I know said that his
clients 'could not afford his massages.' He
only has 3 clients!
In my opinion, this is telling him something...
Review your rates, get clients and reap the
rewards!
Now before you all go out and decimate your fees
and never raise them again, I want you to be
clear that sometimes you just have to
experiment and see what the market will
tolerate while you are building your practice -
it's not always about lowering your fees, it is
about finding out which fees will fill your
practice. Once your practice is full, then you
can start moving your prices upwards.
My Full Practice Building System recommends a
three tier pricing strategy, with the lowest
rate made available only if necessary. Each
price point has a corresponding level of
service. If you are not familiar with this
concept, here is a quick and simple example of
a massage business that works with sports
people:
PREMIUM PACKAGE - $150 for a 60 minute remedial
massage & 20 minute head and foot relaxation
massage. Complimentary herbal tea at
completion of the massage & complimentary
aromatherapy product to take home on the first
session
STANDARD PACKAGE $90 for a standard 60 minute
remedial massage with complimentary herbal
liniment to take home on the first session
BASIC PACKAGE - $60 / 30 minutes
Before all you massage therapists howl
'no one will pay $150 for a massage',
let me tell you I have seen people queuing to
count out $150 in cash to see a massage
therapist who had this concept down completely.
What is more, no one coming out of that room
could adequately describe what just happened
in the room apart from saying it was 'amazing'.
In the Full Practice Building System we go into
great detail about the best way to determine
and present your specific fee structure and how
to overcome price objections, however the
simplified version is to only offer your lowest
price option if:
1. You want the client and believe they will be
of value to your practice.
2. You feel the client would benefit from your
treatments and is in pain and discomfort and
you have spare space in your diary.
3. You know they cannot afford to hire you at a
higher rate.
Ultimately, the focus of this article is to
challenge you to TREAT MORE PEOPLE, even at a
lower rate, until your therapy practice is
80-100% full.
Then raise your rates!
Assuming you are treating full-time but don't
have a full practice, is it better to have 30
clients at $70 or 10 clients at $100?
I believe the former. Of course it takes up
more of your time, but that is something
most new, full-time therapists have!
Offering an introductory rate or special rate
with a definite time to finish is a good way to
fill a practice and be able to raise your
prices quickly within a few months.
The benefits of treating more people are many!
Here are just a few:
1. The more you treat, the faster your skills
will improve. As you become a better therapist
your belief in yourself will grow dramatically
through your experience and the results your
clients are achieving. Nothing is more
critical to your success than confidence in
yourself and your work. Everything comes back
to your belief!
2. Clients paying a lower rate (a fee they can
reasonably afford and that isn't a major drain
on their monthly budget) can work with you
longer.
3. You will generate more referrals. People
typically buy therapy sessions when they
experience you or when they are referred by
someone who has experienced you. Put simply,
the more clients you have, the more referrals
you will generate and the less marketing you
need to do! (Don't you love the sound of
that?!?)
While the fee is NOT always an issue
(and in some target markets, such as the
corporate and executive arenas, you NEED to
charge more in order to be taken seriously).
I once heard a corporate coach describe her
pricing policy as 'the largest number she
could say without spluttering!' I had another
very highly paid coach tell me that one morning
he just woke up and decided he was worth $600
an hour and started getting that rate. What
you charge has a lot to do with how much self
confidence you have and your ability to
describe the benefits of what you do to a
prospective client.
However for most people in start out mode the
bottom line is that there are more individuals
willing and able to invest $70 per session
for a massage than there are individuals who
are willing and able to afford $150+ per
session. So work out what a full practice
looks like for you and start filling that
practice.
For therapists who have been in the business
for a while, now is a grand time to take a look
at your prices. Do some research and see what
others are providing for a similar service and
make sure your prices are on the same level.
Take a look at how you 'feel' about your
prices. Do you resent how little people are
paying you or do you feel it is right for your
targeted market?
When raising your prices a trick that works
really well is to do up a list of the new
prices and stick it beside your computer screen
or in a place where you see it all the time.
Just read it through every day and say the
prices out loud until they feel right on the
inside, then release the new prices into your
practice.
Also know that you can have different prices
for different clients, different seasons and
different times of the day.
What is important is that your prices 'feel'
right for you, allow you to have a profitable
practice and attract the right number of
clients to make your practice a success.
*************************************************
3. FULL PRACTICE BUILDING SYSTEM TELECLASS
*************************************************
Make 2007 your best yet. Sign up now for the
January teleclass and save $50!
Commencing
If you sign up and pay for the Full Practice
Building Teleclass by 24 December 2006 I will knock
$50 off the price as my little holiday gift to you.
Email me now to book your spot info@margaretgill.com
or log on to my website to get more information or
book and pay with Paypal.
http://www.abundantprivatepractices.com
********************************************
4. READY TO GET REALLY SERIOUS IN 2007?
********************************************
I will be taking on 10 clients who are really
serious about kick starting their practice at
the start of 2007. This option is only for
those people who are truly committed and who
really want to make a difference in their
practice and in the world.
If you want 2007 and be your best yet, having a
business coach is the proven way to design and
implement the practice of your dreams.
Email now info@margaretgill.com to schedule
THREE SESSIONS FOR THE PRICE OF TWO in January.
Three for the price of two?? That's $199 for a
month of coaching! Have I gone mad??
NO, I just want as many people as possible to
have successful practices in 2007. It's only
limited to 10 people and the offer runs out on
the 7th January 2007.
Email me NOW to secure your place!
info@margaretgill.com
******************************************
5. SUBSCRIPTION INFORMATION
******************************************
This free publication is produced monthly and
features a business-building tip specifically
focused on how to create a thriving natural
therapy practice. You may copy or distribute
this newsletter as long as it is forwarded in
its entirety.
SUPPORT YOUR FELLOW THERAPISTS!
If you've enjoyed this article and learned a
valuable business-building tip, please forward
this newsletter to your friends and colleagues!
The author is
***Margaret Gill***
Abundant Private Practices
Helping you succeed in your natural therapy business
In 2005... Margaret has been interviewed live on Channel 9's The Today Show,
featured on Channel 7's Today Tonight,
The Age/The Herald Sun, 'Sunday Life Magazine'
& New Vegetarian Magazine
Phone +61 3 5348 2552 Mobile 0407 377 173
PO Box 574 Daylesford VIC 3460 Australia
THE ABUNDANT PRIVATE PRACTICES NEWSLETTER
(c) Copyright 2006