The strategy aims to improve business performance by focusing on three main areas: operations, marketing, and financial health. First, a comprehensive audit is suggested to ensure the business's online presence is optimized, such as mobile-friendly websites and active social media links. For example, testing website usability monthly can help in identifying potential issues early, thereby improving customer experience.
In terms of operational efficiency, the strategy emphasizes regular staff meetings and the development of a formal consultation process. For instance, providing complimentary treatments can increase staff engagement. Additionally, establishing performance-based bonuses can motivate employees to meet company objectives.
The financial health strategy involves meticulous tracking of revenue and expenses, setting ambitious sales goals, and ensuring efficient labor costs. For example, implementing a robust bonus structure for sales that exceed targets can incentivize staff. Regular reviews of marketing ROI and expense management help maintain a sustainable financial growth trajectory.
The strategies
⛳️ Strategy 1: Conduct a comprehensive audit
- Review website for mobile optimization and ensure all features are functional on mobile devices
- Test website usability monthly using both phone and computer
- Ensure the phone number is placed prominently, in bold, and is clickable
- Update website to include visible and functional social media links
- Schedule and execute at least two targeted email campaigns to clients each month
- Gather data to determine consultation closing ratios and begin tracking
- Develop a plan to implement cross promotions instead of discounting
- Evaluate current use of Google PPC and explore optimisation options
- Identify the average revenue from sold consultations
- Analyse patient retention trends and set improvement goals
⛳️ Strategy 2: Optimise operational efficiency
- Schedule regular weekly or monthly staff meetings
- Evaluate ratio of long-term versus new employees and set goals for improvement
- Educate staff about company mission and vision through workshops
- Design and implement a formalised consultation process
- Review and update position descriptions for all staff members
- Introduce team or individual bonuses based on performance metrics
- Provide staff with complimentary treatments to encourage engagement
- Implement an attractive retail commission structure
- Conduct annual reviews for all employees to give feedback and set development goals
- Create detailed Standard Operating Procedures (SOPs) for key processes
⛳️ Strategy 3: Enhance financial health
- Track annual revenue growth and set ambitious but realistic goals
- Aim to exceed an annual revenue of $1 million if not already achieved
- Set and monitor monthly sales targets segmented by service type
- Develop a robust bonus structure for exceeding sales goals
- Implement a quarterly review of all business expenses
- Ensure labor costs remain under 30% of total income
- Maintain marketing expenses within 5% to 15% of total income
- Calculate and enhance marketing ROI
- Measure staff productivity and hourly output to identify improvement areas
- Determine current facility revenue capacity and plans for maximisation
Bringing accountability to your strategy
It's one thing to have a plan, it's another to stick to it. We hope that the examples above will help you get started with your own strategy, but we also know that it's easy to get lost in the day-to-day effort.
That's why we built Tability: to help you track your progress, keep your team aligned, and make sure you're always moving in the right direction.
Give it a try and see how it can help you bring accountability to your strategy.
