How to create a business plan.

BACK TO NEWS

Ok, you’ve figured out who you are, which was no small feat. School has been a great experience with new friends and a great understanding of something totally different. But let’s get down to brass tacks here – how are you going to do this for a living.

Do the math.

Sound simple? Well, not exactly, but if you do your homework now you’ll be less apt to suffer any surprises when you take the big plunge. Going from massage student to massage professional may be like going from point A to point B, but don’t expect a straight line. There are hundreds of successful practitioners who have traveled many different routes to their desired results. Some make it by hard work, some by luck, or most probably a combination of both. One thing’s for sure; Whether they did or not, nearly all would tell you to start with a plan. As the saying goes, "Fail to plan and you plan to fail."

A business plan may sound intimidating but it’s really not that complex when you break it down. Everybody knows what a plan is – meet me at 7 p.m. for dinner; test drive the cars, then make a decision; ask her out to coffee then to dinner. These are all plans. A business plan may have more elements and involve more time, but it is really just a series of steps. Looking at it that way will help you feel more comfortable about proceeding. The business part comes when you start thinking about clients, revenues and expenses. A business plan can be as simple or complex as you desire, but a basic one (usually a good starting point) consists of several components.

• A STATEMENT OF YOUR VALUES: What type of professional do you want to be? It sounds hokey, but do it. Tell yourself what kind of person you expect to be and write it down. The ABMP and other professional organizations have a code of ethics. Consider this to be your personal code of ethics. You can display it at your practice to further establish a relationship with your clients.
   
• A GOAL: What do you want to do? Do you want to see four people a month or forty? Make $5,000 a year or $50,000? Be specific. Your goal should be realistic, yet challenging. Setting a goal of doing one massage per month probably isn’t worth planning for.
   
• A BUDGET: This may seem like another imposing task, but it really only calls for a little thoughtful consideration of the expenses that you will incur then a realistic idea of what you can expect to make. Getting started will cost some more money, but all businesses incur larger than normal expenses at startup. What do you need to be a massage therapist? For school your outlook may be rosy but your budget may be cloudy. Create a budget, whether on a spreadsheet or a napkin, and do it by monthly increments for at least the first six months. Get a blank calendar, place important expense days on it (rent, advertising, etc.) and plot your client strategy around those dates. If your budget looks a little lean for the first six months, think critically about how you will fill the gaps. Maybe you need to keep your part-time job for the first six to nine months.
   
• A CHECKPOINT: You can make a five-year plan, but don’t live every day by it when you get started. Take small bites; you’re starting a business and building success takes time. Set some interim goals or guideposts along the way. Maybe one is to increase your new clients each month, or to get two-thirds of your new clients to return. These ideas will help you concentrate on building your practice while avoiding frustration when first getting started.

  A business plan is not a document that you frame and hang on the wall. It is a road map for your career. It may change radically in a month, or remain the same for two years. However, you must use it as a tool, not a straightjacket. Just because you wrote it down in February doesn’t mean that it rings true in October. Don’t be afraid to critically review your plan at any time and determine if there are adjustments to be made. Your business plan is exactly that – yours. Make it work for you.

  The business plan is important, but not as important as getting out there and actually doing it. Your future as a practitioner is literally in your hands. A business plan is a critical start, but your hard work implementing the plan is what will bring you professional fulfillment.

BACK TO NEWS