Finish the Year Strong: How to Find & Make Money This Fall
I’ve been working on a healthy relationship.
No – I’m not talking about one with a fella. Though you never know! ;)
I’m talking about my personal relationship with money.
Although we talk about money a lot here on the blog – the truth is, making money has never been much of a motivator for me. Don’t get me wrong. I like money. I’m pretty decent at making money.
But I have never launched a program or training, led a coaching or counseling session, or done much of anything where making money was the main priority.
Ever.
That’s just not who I am.
(Can you relate?)
On the other hand, money and I have spent some time together over the past year or two. I’ve given it more respect, more intention and attention. And in return, money has been kinder to me.
We’ve become friends of sorts.
And let’s face it. A lot of healers have issues around money. We hate thinking about it. Don’t want to care about it.
But money matters. To paraphrase an old quote, money won’t buy you happiness but it does pay the rent. :)
So I want your relationship with money to get better too – starting NOW.
As we go into the 4th quarter of the year, money may feel like a game of hide-and-seek. Too many business owners actually expect to spend more money than they make during this last quarter.
But y’all, there’s plenty of time left to make serious money.
You just have to know where to look. :)
Here are a few ways to find money – and make money – so you can finish the year strong.
1. Process those refunds, rebates, and returns.
I bought a computer modem that, turned out, I didn’t really need. A simple return means cash in my hand. You may have receipts sitting around for supplies, technology, even clothes or books that can be turned into cash quickly and easily.
2. Review your subscriptions.
In today’s world, it’s easy to spend too much – especially with subscription-based services. Practice management software like Simple Practice or Therapy Notes, email programs like Constant Contact or MailChimp, even ringtones on your phone: those things add up.
Could you drop down to a free option? Look at the tools you use, find the bells and whistles that you don’t really need, and streamline.
3. Collect money you’ve already earned.
Missed appointments that need to be covered? Insurance claims that need to be filed? Invoices that need to be sent?
If that all sounds overwhelming, hire a bookkeeper or an assistant – and get some help.
(Pro tip: find ways to get paid in advance to limit this in the future.)
4. Reach out to former clients.
Send a note, make a call, or shoot an email to your favorite clients to check in on them. Be genuine.
At the very least, you’ll maintain a relationship that matters to you. But you may also spark a reminder that they could use a tune up.
5. Follow up with strong prospects.
Is there someone who talks about working with you but never books an appointment? Give them a call.
You’ve been talking about this for a while and I’m just wondering what’s holding you back? I want you to get the help you want. What can we do to make this happen?
I’m not talking about being sales-y or pushing someone in a way that feels wrong. I AM talking about leadership, and offering your service because you know it will help.
6. If you accept insurance, eliminate a contract.
If you have a full practice and clients who love you, consider cancelling one insurance contract. That one action will put money in your pocket.
(We talk about this – and more – in my online support group, the Ideal Practice Community, over on Facebook. Join us!)
7. Raise your rates.
If it’s been three years or more since you’ve increased rates, then it’s probably time to do that again. Your clients expect it, and they will be fine if you handle it well. Click here for a post on exactly how to do that.
8. Add packages.
Offering packages adds value to what you already offer your clients, and they’ll appreciate it. You are giving them a better deal, and encouraging them to show up at a higher level.
You could even offer an incentive for them to buy next year’s package now at this year’s rate.
You have a year-round business, and need year round income, so I’m going to challenge you here.
You may also like:
37 Ways to Up Your Game as a Business Owner
How to Hire the Right Help for Your Team
How to Design a Group Practice That Works
Rough Day? 3 Ways to Hang In When You Feel Like Getting Out