In this 4-part blog series, we discuss the basic foundations of the why, how and the what of how to start a corporate wellness business, along with the when – benefits of when you achieve success. It requires no in-the-box thinking whatsoever. If you have ‘a box type of thinking mentality’, chances are this program isn’t for you. Working with corporations requires holistic and health care practitioners to work in their own creative framework, versus following the crowds, and to be clear as to ‘why’ they want to, in the first place. For me, having a larger impact made sense. The old adage of ‘go big or go home’ had meaning, and I wanted to touch the lives of many, not a few.
This 4-part series will uncover how to start a corporate business by answering:
Why – your purpose
How – your process
What – your result (s)
When – your benefits as a direct result of why, how and what, you achieve. This addition, is my added value to attracting and working with corporate clients.
Part 3 of how to start a corporate wellness business examines the ‘what’ – your result (s).
Let’s face it. Starting a private practice versus being employed by a company or organization takes a lot of courage, stamina and belief. Belief in your product or service, and belief in yourself that you can in fact succeed. If you start a business without at least this as your minimum, chances of succeeding and getting the results that you want, are fairly slim.
The why, and how of your business has already been discussed in part 1 and 2. If you haven’t read those yet, take the time to do so, so you have a complete picture of the goals with this program, Attracting Corporate Clients.
Your results, ‘the what’ in this part 3 of the blog, gives you and your new customers what you intend to accomplish by offering your services. If an employer doesn’t feel that your services are beneficial to them or their employees, chances that they will buy are not likely to happen. We aren’t here to convince customers, individuals or companies, that u-our product/service is worthy, because I think we can all agree, health services are vital. However for companies, you need to show that your offer is of value, both in results and return on investment. ‘Show me the money’ comes to mind in this case.
In the world of purchasing, you must offer value and expected outcomes, otherwise an organization spending money on your corporate business will not happen. Nice to haves are just that. Nice to have. If it doesn’t affect the bottom line of the organization, the employer will not purchase.
It’s part of your corporate practice, like you would do in your private practice, to ‘point out’ to the HR team or purchasing department as to what the results will be because at the end of the day, there has to be a return on investment, both monetarily (hard savings) and health wise (soft savings) for the contract to be signed. The difference between one person and a CEO for instance spending money on your practice, is that the CEO is making the decision for hundreds if not thousands of their employees, versus one person making a personal decision to seek out the value of your service. The difference of $150.00 per session possibly versus thousands of dollars per month.
The results have to show for themselves when you are looking on how to start a corporate wellness business. If you haven’t captured savings in your business yet, or don’t have a solid return on investment to show organizations, feel free to use those already well documented on Google. As long as you reference that the results are not yours, it gives the employer an opportunity to see what ‘could be’ the end results for their organization. There is no point in reinventing the wheel. Borrow from someone else by referencing their results. Remember though, your goal is to also achieve those results of others or do better.
For the first 5-10 years of my business, I calculated a return on investment (ROI) for each organization, along with an extensive list of savings. It all added up to a variety of outcomes:
1:24 – for every dollar the organization spent on my services, I saved them $24.00. Now who wouldn’t want to buy? I cost them $0.00 and they in return got $24.00.
There were times that capturing results was difficult and sometimes impossible.
Other times the ROI was 1:2, or 1:3 (which I find is most common for health services)
You will see my website, where my average is 1:7, which is a healthy return
Of course, the outcome you and I actually look at, all the time, is the reason we got into health services to begin with and that is to help people. Track this too! This of course, is priceless.
Offer the health services you feel strongly about but also show the results of your work but tracking your outcomes. The results will provide you with repeat contracts and word of mouth referrals.
Stay tuned for Part 4 but in the meantime, book a chat to find out more.
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