Issue link: https://www.massageandbodyworkdigital.com/i/588318
Carefully Weigh Time Against Money Investing one's own time in lieu of money is an important bootstrapping skill and a great strategy in the early days of a private practice, but it's important to recognize when this tactic no longer makes sense. During the infancy of our practice, Shane and I had more time than money. Cleaning the bathroom, washing water glasses, folding laundry, and other such tasks were undertakings we were happy to take on. However, eventually our practice grew to the point where our books were much fuller, and we now have much less downtime. We have also increased our fees significantly over the years (not only in response to inflation, but also because our skill set and level of expertise has expanded). Our time, therefore, has become more valuable. Wearing as many hats as possible during the beginning of one's business is an essential element of successful bootstrapping and should most certainly be embraced. But as one's practice evolves, wearing only those hats that correspond with the most highly paid positions, and hiring someone else to do the rest of the chores, makes good financial sense. Pick a Few Brains When you're bootstrapping, you inherently have more time than money, and one of the very best ways to use that abundance of time is to learn everything you possibly can from the folks who have blazed the trail before you. Read business blogs, follow the social media accounts of industry leaders, listen to podcasts, watch videos, attend webinars, read books, devour industry magazines, and harvest insight from any and all quality sources you can find. Learning from others' successes and failures is really the only known shortcut to success. So why not glean all you can from those who have "been there, done that"? BOOTSTRAP BASICS #4 #5 And connecting in person with those who have already done what you're trying to do can provide an even more powerful education. Choose a few local professionals whose accomplishments you admire, and contact them to see if they might be open to sitting down and sharing some of their wisdom with you. Make sure these would-be mentors know you're not approaching them as an adversarial competitor, but rather as an eager and curious apprentice, and you'll probably be pleasantly surprised by how willingly they will offer up some of their hard-earned insights. As Jeff Bezos, CEO of Amazon.com, says, "Life's too short to hang out with people who aren't resourceful." But don't limit your corral of mentors exclusively to professionals who inhabit the massage profession. Seek out all types of entrepreneurs from a variety of fields. Stepping outside of our professional bubble can provide a broader perspective that will give us a unique and powerful edge. F r e e S O A P n o t e s w i t h M a s s a g e B o o k f o r A B M P m e m b e r s : a b m p . u s / M a s s a g e b o o k 79