“Nich” or “Neesh”?
Sometimes I get asked why I chose to niche down and offer my business consulting only to the Aesthetic industry. If you are curious then keep reading.
While I love this industry and everything I’ve learned in 12 years of aesthetic consulting, it was SCARY in the beginning. I had never worked with Medspas before, I only had experience with medical clinics and hotel spas. It all changed when….
Over 6 years ago, I was invited to work with a medical spa that belonged to a dermatology practice. Within 6 months, the business achieved a 28% top-line revenue growth that it’s approximately seen every year since, but that’s not the environment I first walked into…
Instead, the medspa was largely disconnected from its dermatology practice and failed to gain traction. They didn’t know this until I helped them layout their performance metrics dashboards- but the spa was losing money–to the tune of a negative 25% profit margin!!! (which was being masked by the highly profitable derm practice).
The team had some great people, but they didn’t have strong leadership or clear direction as its own entity, and because of that, no one worked well together. There was no common goal. And it showed–in client reviews, low client return rates, and an overall atmosphere of mediocrity.
Fast forward a couple of years- and the medspa was on track for a healthy 20% profit margin. They gained a highly-skilled, professional team that is incentivized to work together toward common growth goals. The medspa experience is always excellent, with specific practices and touches that constantly remind clients of why they want to come back.
So looking back at this experience, the tech & procedures of the aesthetic industry were easy to learn, although intimidating at first. The knowledge that I brought with me from my background in business and healthcare was invaluable, but sometimes I was fearful about establishing credibility. (Imposter syndrome can be so real, can’t it?!)
Thankfully, I pushed past all those fears and now I solely focus on this niche of aesthetic consulting. I love serving aesthetic business owners and am so thankful I get to work within my passion Every Single Day!