|
Background
Several wellness professionals
and two investors formed
BetterLife* four years ago.
The management team has
little business management
experience. However,
based on their professional
training and professional
and personal experience,
they developed and launched
several weight-loss programs
targeted towards sedentary
female clients aged 40 -
65.
At this point, the business
is breaking even.
Customers love the program,
but BetterLife can't seem
to translate that enthusiasm
into profits. They
feel as if other businesses
are selling inferior services
but making more money.
They love what they're
doing, and feel that they're
making a difference.
At the same time, keeping
the business running day-to-day
seems harder than it has
to be. They feel that
their landlord and some
of their other vendors have
taken advantage of their
inexperience as business
managers. They feel
trapped by some early decisions
that they would make differently
today.
Concerned that they'll
have to close the business
if they can't see a clear
path to reliable profits,
they've gotten lots of advice
from many sources, some
of it conflicting.
They want a path forward.
*not actual company name
|
How we helpedBetterLife asked Radial
to diagnose its financial
results and help them develop
a growth plan for sustainable
profits. They were
definitely nervous about
the investment in consulting,
but we guarantee our work
- even consulting - so that
gave them peace of mind.
We assessed their company's
sales process, marketing
approach, customer retention
data, and customer programs.
We drilled into their financials
to figure out which customers
and programs were most profitable.
Then, we helped BetterLife
re-price and streamline
programs to improve profits
without compromising service
or quality. We coached
them on striking up win/win
relationships with related
businesses and organizations
while protecting their customers
from poaching. We
also developed a custom
sales process tailored to
their target customer and
their business.
We also reviewed several
difficult business relationships
with landlords and other
partners and coached, scripted,
and helped them role-play
resolving these situations.
They've got some longstanding
relationships with vendors
who are falling short on
their commitments, so we
helped them identify and
resolve those issues as
well.
We then worked with BetterLife
to expand their services
so that customers who complete
the core weight management
programs can continue to
generate revenues for the
firm, rather than disappearing.
The bottom line
BetterLife's profits improved
quickly after re-pricing
and streamlining program
delivery. They are
now very successful at winning
new customers through related
businesses. The expanded
services have definitely
sparked new revenues.
And clearing up troubled
business relationships got
rid of obstacles that distracted
the management team and
blocked further expansion.
Today, they continue
to expand using the tools
and techniques they acquired
from Radial.
Back to Healthy Lifestyle & Weight Management
Overview
|
