Ahh... don't you love that sense of accomplishment when you finally get something done that's been on your to-do list for what seems like forever? The kids blessed me with a longer than usual nap yesterday, giving me some much needed quiet time to really chip away at my goals for this year.
What really made a difference in setting these goals, is that I was more specific in what I wanted to achieve. Until recently, my goals seemed to always be based on just a general number of client sessions per month, not taking into consideration whether they were 30, 45, 60, 75, or 90 minute sessions, or whether it wasn't even massage, but a bodywrap or other spa treatment instead. I suppose my 2010 goals didn't get quite as specific as they could be, now that I'm thinking deeper into it, but I've at least based my goals on the financial step I'd like to reach.
I'm still a bit on the fence about sharing exact numbers, maybe not due to my own feelings towards them, but more in regards to other people's feelings about income. I've never really understood why people are so secretive about money. I'll keep much of this information on a general, percentage standpoint, though I'm sure it wouldn't be too hard to punch a few numbers into a calculator and come up with the exact. If you are really interested in knowing, just ask.
To begin, I had 206 total sessions in 2009, which is equal to 58% of 2010's goal of 351 sessions, based on the most commonly booked 60 minute sessions.
My total income in 2009 is equal to 67% of my goal for 2010, and 2009's total take home is equal to 66.6% of 2010's goal. I like that those numbers are pretty close, and am not too daunted by my goal of a 33% increase...so far! However, I'm also looking to reduce my total business expenses. 2009 is 117% of my goal/budget for 2010.
If I reach my monthly income goals, 31.3% goes towards business expenses, things like my massage room lease, student loans, stamps, ink, printing, continuing education, license renewals, linens, laundry, products, etc; 23% for taxes, maybe that will take the edge of my annual surprise!; leaving 45.6% for personal profits, ie. paying household bills and keeping tummies happy.
So to reach these monetary goals, I need to have 29 non-discounted 60 minute massage sessions per month, which would keep my schedule at 78% capacity throughout the year. I believe I worked in a few vacation days when figuring those numbers. If my schedule only books up to 70% capacity, I would need to increase my 60 minute massage rate by $6.86 to continue to meet my goals.
How will I keep my schedule at 78% capacity to avoid raising my rates, you ask? I've got a list of things to do and, as I found when beginning this post, a few more things to add on also. I don't want to list it all out here... so let's see if, as a client, you notice my efforts!
Wednesday, February 24, 2010
Thursday, February 18, 2010
The More User-Friendly Version of Bookkeeping Analysis, Part 1
It feels like I've been spending A LOT of time working on these numbers, and when I posted them up last week, I thought I could finally be free from their hold on me. The task still was just not as complete as I had hoped. I, myself, was still going bonkers looking at ALL those percentages all at once.
Yesterday, I decided the best way for me to understand it all, would be to break it down into smaller groups of numbers.
First, I wanted to see how each percentage compared with an ideal, "average" throughout the year. Breaking 100% down by 12 (months per year), that number is 8.3%. So I looked through each category, and found the months that came closest to that 8.3%. But then, I also realized that just because there were some that were very close to "average," it didn't necessarily mean that was a GOOD thing. Sometimes it's better to be ABOVE or BELOW average, not spot on. So I took it two steps further, and found the Best of, and Worst of each category.
I then also scored each month by my new breakdown numbers--Closest to 8.3%, Best Of, and Worst Of, and looked at those 3 numbers to give each month an overall score.
Unfortunately, Google Documents doesn't want to read my Microsoft Works Word Processor document that this is all laid out on an easy to view and compare format, so I had to just list them month by month among the 3 new categories. My scores are at the end. See if you agree, or if I'm being too nice/hard on myself with the scores. I gotta say, by looking at the numbers this way, I was a bit surprised... some months didn't score as high as I thought they would, and others did much better than I thought previously also.
Here it is.
Yesterday, I decided the best way for me to understand it all, would be to break it down into smaller groups of numbers.
First, I wanted to see how each percentage compared with an ideal, "average" throughout the year. Breaking 100% down by 12 (months per year), that number is 8.3%. So I looked through each category, and found the months that came closest to that 8.3%. But then, I also realized that just because there were some that were very close to "average," it didn't necessarily mean that was a GOOD thing. Sometimes it's better to be ABOVE or BELOW average, not spot on. So I took it two steps further, and found the Best of, and Worst of each category.
I then also scored each month by my new breakdown numbers--Closest to 8.3%, Best Of, and Worst Of, and looked at those 3 numbers to give each month an overall score.
Unfortunately, Google Documents doesn't want to read my Microsoft Works Word Processor document that this is all laid out on an easy to view and compare format, so I had to just list them month by month among the 3 new categories. My scores are at the end. See if you agree, or if I'm being too nice/hard on myself with the scores. I gotta say, by looking at the numbers this way, I was a bit surprised... some months didn't score as high as I thought they would, and others did much better than I thought previously also.
Here it is.
Thursday, February 11, 2010
2009 In Review--Part 1
My 2009 Bookkeeping Analysis is FINALLY complete! I've compiled my numbers and figured them into percentages based on quarterly and yearly totals, as well as percentages of my total income, so I'll just post those percentages. I'm sure it wouldn't be too hard to get a sense of how much money I actually made, but I'd rather leave those exact numbers out.
Don't worry if you click the link and your head starts spinning...believe me, it was no easy task to figure it out as I was calculating the numbers either. Having this completed gives me a much better tool to measure success in this year and years to come. Often, I hear of other small businesses saying things like their sales have increased by XX%, and until now, I would not have been able to see that growth from my own business. Now, at the end of 2010 (as well as quarterly, because I WILL NOT put this off till the end of the year, or beginning of 2011!!), I will have a clear picture of financial improvements, particularly in relevance to marketing.
I've always liked seeing how many sessions I have in a month and had thought that was a pretty good tool of measurement, but as I look at the big picture, that's just one ingredient in my take home dollars pie. The biggest area I need to look out for are my business expenses. These encompass my massage room lease, student loans, continuing education classes, license renewals for Oregon, National, and business, stamps, ink cartridges, paper, business cards and other print materials, the cost of vendor spaces, sheets, oil, etc. Other areas, of course, are increasing my income from the get-go. Part of that means watching how much I discount services. You can bet I won't be offering 30% off for a whole month again!! Whew... October hurt me. But at the same time, I think that's a good way to drum up stagnant clients. Taking a look at August and seeing negative numbers--now there's a month that could've benefitted from a 30% off discount!
Well, anyway, take a look, if you dare, and give me some feedback.
And, as always, I appreciate each and every one of my clients for coming in. Without you, my entire year could have gone negative, rather than just one month! The bottom line: 45% of my income stayed in my pocket for the the year. My hope for 2010: Raise that up a good 15%. I'm not a business whiz, so I don't know how steep a goal that is, but I'm shooting for it nonetheless! Anything higher will just be icing on the cake, and just a bit of an ego booster.
PS--If you're wondering why this is Part 1, it's because sometime, hopefully in the next few weeks, I will be putting up a spreadsheet on my client statistics/demographics. Stuff like what days clients book their appointments on, how they pay and tip, what cities they live in, how old and what gender they are, health ailments, frequency of receiving massage, WHY they are getting massage, pressure preference, what kind of work they do, how they rate their health, and how much water they're drinking. By the way, most of my clients should be drinking more water. I'm sure you've worked up a thirst after reading all this--go grab yourself a drink (of WATER!). I expect part 2 to be much easier to digest, although I may get carried away and work some percentages. Right now, it's basically just a couple sheets of paper with really messy tally marks on it...a true sight for sore eyes.
Don't worry if you click the link and your head starts spinning...believe me, it was no easy task to figure it out as I was calculating the numbers either. Having this completed gives me a much better tool to measure success in this year and years to come. Often, I hear of other small businesses saying things like their sales have increased by XX%, and until now, I would not have been able to see that growth from my own business. Now, at the end of 2010 (as well as quarterly, because I WILL NOT put this off till the end of the year, or beginning of 2011!!), I will have a clear picture of financial improvements, particularly in relevance to marketing.
I've always liked seeing how many sessions I have in a month and had thought that was a pretty good tool of measurement, but as I look at the big picture, that's just one ingredient in my take home dollars pie. The biggest area I need to look out for are my business expenses. These encompass my massage room lease, student loans, continuing education classes, license renewals for Oregon, National, and business, stamps, ink cartridges, paper, business cards and other print materials, the cost of vendor spaces, sheets, oil, etc. Other areas, of course, are increasing my income from the get-go. Part of that means watching how much I discount services. You can bet I won't be offering 30% off for a whole month again!! Whew... October hurt me. But at the same time, I think that's a good way to drum up stagnant clients. Taking a look at August and seeing negative numbers--now there's a month that could've benefitted from a 30% off discount!
Well, anyway, take a look, if you dare, and give me some feedback.
And, as always, I appreciate each and every one of my clients for coming in. Without you, my entire year could have gone negative, rather than just one month! The bottom line: 45% of my income stayed in my pocket for the the year. My hope for 2010: Raise that up a good 15%. I'm not a business whiz, so I don't know how steep a goal that is, but I'm shooting for it nonetheless! Anything higher will just be icing on the cake, and just a bit of an ego booster.
PS--If you're wondering why this is Part 1, it's because sometime, hopefully in the next few weeks, I will be putting up a spreadsheet on my client statistics/demographics. Stuff like what days clients book their appointments on, how they pay and tip, what cities they live in, how old and what gender they are, health ailments, frequency of receiving massage, WHY they are getting massage, pressure preference, what kind of work they do, how they rate their health, and how much water they're drinking. By the way, most of my clients should be drinking more water. I'm sure you've worked up a thirst after reading all this--go grab yourself a drink (of WATER!). I expect part 2 to be much easier to digest, although I may get carried away and work some percentages. Right now, it's basically just a couple sheets of paper with really messy tally marks on it...a true sight for sore eyes.
Friday, January 22, 2010
Accountability!
Alright here goes...
I am vowing to nix my chronicly-late problem this year, and truly learn to take control of my time and manage it better. There are always roadblocks in overcoming any challenge, and it can be so tough to really grab that challenge by the horns and defeat it. It takes a lot of planning for sure, and prioritizing.
Already, I have promised to share the statictics on my clients and business information from 2009 (keeping everything anonymous, of course), and I will get that accomplished. Turns out it was a bigger task than I anticipated, so it's taking me longer to figure out even HOW to share that information. My tally sheets are so confusing to read, and transfer to computerized versions. Not only am I working on getting 2009 stats up and posted, but also re-creating a format to simplify the process for 2010, and not fall behind in tracking my clients and business information as the new years rolls on.
Realizing the new challenges, I feel confident in being able to share the results of what really was my first full year in business FOR MYSELF by the end of this month. Some of it isn't pretty, but it is all so helpful to help me steer my business/marketing into the right directions this year. For that, it is entirely invaluable.
I hope you will come back to my blog to see how you ranked among my other clients, and how your business has contributed to MY business. And by the way, if you are low on gratitude, I owe each and every one of my clients a tremendous THANK YOU for helping me learn how to grow my business and become a better massage therapist. I wouldn't be doing what I'm doing without YOU. THANK YOU!
I am vowing to nix my chronicly-late problem this year, and truly learn to take control of my time and manage it better. There are always roadblocks in overcoming any challenge, and it can be so tough to really grab that challenge by the horns and defeat it. It takes a lot of planning for sure, and prioritizing.
Already, I have promised to share the statictics on my clients and business information from 2009 (keeping everything anonymous, of course), and I will get that accomplished. Turns out it was a bigger task than I anticipated, so it's taking me longer to figure out even HOW to share that information. My tally sheets are so confusing to read, and transfer to computerized versions. Not only am I working on getting 2009 stats up and posted, but also re-creating a format to simplify the process for 2010, and not fall behind in tracking my clients and business information as the new years rolls on.
Realizing the new challenges, I feel confident in being able to share the results of what really was my first full year in business FOR MYSELF by the end of this month. Some of it isn't pretty, but it is all so helpful to help me steer my business/marketing into the right directions this year. For that, it is entirely invaluable.
I hope you will come back to my blog to see how you ranked among my other clients, and how your business has contributed to MY business. And by the way, if you are low on gratitude, I owe each and every one of my clients a tremendous THANK YOU for helping me learn how to grow my business and become a better massage therapist. I wouldn't be doing what I'm doing without YOU. THANK YOU!
Thursday, January 7, 2010
Employee vs. Self Employed Calling In Sick
My family has been doing pretty well at keeping germs at bay this season, knock on wood. We did come across a cold-bug this past weekend, however, and I had a head cold in full swing on Monday, as well as a full appointment book for the day.
As a courtesy to those clients, I called them to let them know that yes, they could still come in for their massage if they needed it, but if they wanted to steer as far from my cold as possible and reschedule their appointments, that would be fine too. All three rescheduled. I felt kind of bad about it at first, but later in the evening, I was very, very relieved. Potentially, I just saved 3 families from catching the (fairly minor) cold that I had. But it meant so much more to me than that.
The straw that broke the camel's back in my previous career (working in assisted living), came in June 2005. I was sick, turned out it was bronchitis. I tried to call in sick, but basically was not given that choice. I HAD to go to work. With bronchitis. Working with the elderly. Within the same time frame, one of the residents got pneumonia, and I am convinced she got it due in part to my working with bronchitis. Fortunately, she got over the pneumonia, despite her poor health to begin with, but never really got well, and passed away several months later.
Well anyway... it bothered me to no end that I should HAVE to work with people with poor immune systems when I was already sick. That experience was the last one needed before I signed myself up for school to become a massage therapist (with a hoarse voice at the time!).
It was such a nice feeling to be able to let my clients choose whether I would come to work for them on Monday or not, and to know that they cared enough about my health and theirs to let me stay home and wait out the cold. To those clients: Thank You!
As a courtesy to those clients, I called them to let them know that yes, they could still come in for their massage if they needed it, but if they wanted to steer as far from my cold as possible and reschedule their appointments, that would be fine too. All three rescheduled. I felt kind of bad about it at first, but later in the evening, I was very, very relieved. Potentially, I just saved 3 families from catching the (fairly minor) cold that I had. But it meant so much more to me than that.
The straw that broke the camel's back in my previous career (working in assisted living), came in June 2005. I was sick, turned out it was bronchitis. I tried to call in sick, but basically was not given that choice. I HAD to go to work. With bronchitis. Working with the elderly. Within the same time frame, one of the residents got pneumonia, and I am convinced she got it due in part to my working with bronchitis. Fortunately, she got over the pneumonia, despite her poor health to begin with, but never really got well, and passed away several months later.
Well anyway... it bothered me to no end that I should HAVE to work with people with poor immune systems when I was already sick. That experience was the last one needed before I signed myself up for school to become a massage therapist (with a hoarse voice at the time!).
It was such a nice feeling to be able to let my clients choose whether I would come to work for them on Monday or not, and to know that they cared enough about my health and theirs to let me stay home and wait out the cold. To those clients: Thank You!
Tuesday, January 5, 2010
Happy 2010!!
Aaahh, a new year is upon us. Not only the new year, but a new decade. The turning of a new leaf. Yes, we've all heard and said the same things of years past, but something tells me 2010 is going to be a truly fantastic year.
Put your powers into health, wellness, and happiness. Believe in yourself. You can be successful at anything you put your mind to. Make up your mind, make a plan, and work at it every day. Whether your goal is to lose those extra pounds, pay off those debts, or even land a new job, I don't believe you can expect it to happen without planning for it.
Begin with the broad goal in mind, make your end outcome as detailed as possible. Break the goal down into smaller tasks, small steps you can take that aren't overwhelming and can be scheduled into your routine, to build up to your main goal.
BELIEVE IN YOURSELF, and in those around you. Resources are everywhere. 2010 brings an abundance of positive energy with it, grab it by the horns and run with it! Make this the year all your wishes and dreams come true! Be happy! You can bet I am!
Put your powers into health, wellness, and happiness. Believe in yourself. You can be successful at anything you put your mind to. Make up your mind, make a plan, and work at it every day. Whether your goal is to lose those extra pounds, pay off those debts, or even land a new job, I don't believe you can expect it to happen without planning for it.
Begin with the broad goal in mind, make your end outcome as detailed as possible. Break the goal down into smaller tasks, small steps you can take that aren't overwhelming and can be scheduled into your routine, to build up to your main goal.
BELIEVE IN YOURSELF, and in those around you. Resources are everywhere. 2010 brings an abundance of positive energy with it, grab it by the horns and run with it! Make this the year all your wishes and dreams come true! Be happy! You can bet I am!
Friday, December 18, 2009
Trading Massages With A Less-Seasoned Therapist
So I wrote last week about my experience looking for a new therapist. This post will be more geared towards the overall experience of the massage I received and what I learned from it.
To be completely honest, I didn't have really high expectations of that massage, or I just didn't know what to expect. I wonder if clients of mine have that initial feeling of unknown/uncertainty when they book their first appointment with me. It is so hard to be able to enjoy a massage just for myself, without thinking of the same experience from the shoes of one of MY clients at the same time. Throughout that last trade, I tried to keep both perspectives as balanced as I could: deeply needing someone to give MY body the attention it needed, while also receiving a massage from a stranger, and viewing it as a client-experience. I tried even harder to not take on the perspective of massage therapist. That was tough.
I was pleased to be asked to fill out an intake form, as some therapists I have traded with don't bother with that with ME, because I'm "just another massage therapist." It made me feel cared about, that she was interested in my health, and it showed me that she was professional in her work as well.
The massage, at times, felt a little bit choppy, but this particular therapist doesn't actually work as a massage therapist. Through some conversation during the massage, she told me of her role as caregiver to her aging mother. A powerful lesson I re-learned here, and hope I haven't been too lax in the past with, is to keep conversation, if any, focused on the CLIENT. I know I have read time and time again that clients don't care about massage therapists' lives, a part of me always thought, "Well, why wouldn't they care?" And maybe clients have a certain degree of concern for us, as massage therapists, but the time they spend on the table is definitely THEIR time, not ours. This experience refreshed that truth for me. To be fair, this therapist didn't talk my ear off during the session, but for me, this massage was really something that I needed to be focused on MY needs.
I think those are the only minor-complaint issues I had from this experience. I was thoroughly delighted at the number of pleasant experiences I had as well, though many of them are geared more towards massage skills. The thing this therapist did that I liked the best, was asking me if I would like more attention on any area of my back side before turning over, or on my front side before turning over another time to work on my back again. She actually had me turn from laying face down, to face up, and back to face down again. To me, that really made me feel she cared about MY needs, not as much her own personal flow of massage. The experience massage therapist in me thinks maybe she offered that in hopes of finding ways to fill my 90 minutes of requested table time that maybe she was having a hard time filling through her own routine. I didn't ask her to be sure, and I think this skill, while so greatly treasured by myself, will be tough for me to apply, because many of my sessions have a tendency to stretch a few minutes beyond their allotted and requested times anyway. Something to work towards, I guess!
A few other skills I will adapt to my use are: gently pinching the sides of each finger. I know people love hand massage, but to me, it was nothing special until I experienced this technique! And she gave me a great foot massage too, which I wonder if it is similar to my style already...? I so wish I could experience one of my OWN massages and see what it's like!
My next favorite move this therapist did, was, when ending massage at my back, she kept flowing strokes going, while progressively lightening her pressure. Ooooohhh, that felt great! It gave me a terrific floating kind of feeling! LOVED that! And a great head-massage too. Love that!
It is definitely worthwhile to be a client again once in a while. And if the therapist of mention here should read this post, please take no offense to any of it, I was very satisfied by the massage you gave me! It was so nice to feel cared for, when so much of my life is spent caring for others. Thank you so much, and I look forward to our next trade and learning from you again!
To be completely honest, I didn't have really high expectations of that massage, or I just didn't know what to expect. I wonder if clients of mine have that initial feeling of unknown/uncertainty when they book their first appointment with me. It is so hard to be able to enjoy a massage just for myself, without thinking of the same experience from the shoes of one of MY clients at the same time. Throughout that last trade, I tried to keep both perspectives as balanced as I could: deeply needing someone to give MY body the attention it needed, while also receiving a massage from a stranger, and viewing it as a client-experience. I tried even harder to not take on the perspective of massage therapist. That was tough.
I was pleased to be asked to fill out an intake form, as some therapists I have traded with don't bother with that with ME, because I'm "just another massage therapist." It made me feel cared about, that she was interested in my health, and it showed me that she was professional in her work as well.
The massage, at times, felt a little bit choppy, but this particular therapist doesn't actually work as a massage therapist. Through some conversation during the massage, she told me of her role as caregiver to her aging mother. A powerful lesson I re-learned here, and hope I haven't been too lax in the past with, is to keep conversation, if any, focused on the CLIENT. I know I have read time and time again that clients don't care about massage therapists' lives, a part of me always thought, "Well, why wouldn't they care?" And maybe clients have a certain degree of concern for us, as massage therapists, but the time they spend on the table is definitely THEIR time, not ours. This experience refreshed that truth for me. To be fair, this therapist didn't talk my ear off during the session, but for me, this massage was really something that I needed to be focused on MY needs.
I think those are the only minor-complaint issues I had from this experience. I was thoroughly delighted at the number of pleasant experiences I had as well, though many of them are geared more towards massage skills. The thing this therapist did that I liked the best, was asking me if I would like more attention on any area of my back side before turning over, or on my front side before turning over another time to work on my back again. She actually had me turn from laying face down, to face up, and back to face down again. To me, that really made me feel she cared about MY needs, not as much her own personal flow of massage. The experience massage therapist in me thinks maybe she offered that in hopes of finding ways to fill my 90 minutes of requested table time that maybe she was having a hard time filling through her own routine. I didn't ask her to be sure, and I think this skill, while so greatly treasured by myself, will be tough for me to apply, because many of my sessions have a tendency to stretch a few minutes beyond their allotted and requested times anyway. Something to work towards, I guess!
A few other skills I will adapt to my use are: gently pinching the sides of each finger. I know people love hand massage, but to me, it was nothing special until I experienced this technique! And she gave me a great foot massage too, which I wonder if it is similar to my style already...? I so wish I could experience one of my OWN massages and see what it's like!
My next favorite move this therapist did, was, when ending massage at my back, she kept flowing strokes going, while progressively lightening her pressure. Ooooohhh, that felt great! It gave me a terrific floating kind of feeling! LOVED that! And a great head-massage too. Love that!
It is definitely worthwhile to be a client again once in a while. And if the therapist of mention here should read this post, please take no offense to any of it, I was very satisfied by the massage you gave me! It was so nice to feel cared for, when so much of my life is spent caring for others. Thank you so much, and I look forward to our next trade and learning from you again!
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