The Critical Mistakes Which Reduce Profits, Increase Stress and Chain You to Your Health Business with Paul Wright

Like many of you, my journey into health began with a simple, profound love for nutrition and a desire to make a tangible difference in people's lives. However, the path to making that impact sustainable was less straightforward.

In 2018, I attended a conference that was run by the amazing Tara Diversi. It was a health conference packed with world-class speakers. Trying to absorb the valuable insights and knowledge from that weekend was like using a USB stick to copy NASA’s hard drive. There were so many amazing speakers, who passed on pearls of wisdom to us budding health entrepreneurs. Amongst the tsunami of knowledge was a speaker called Paul Wright. Paul’s talk spoke directly to me. It was as if he’d designed that talk specifically for me, after forensically pulling apart our business model. Unbeknownst to Paul, his talk transformed our business. He gave so much value in that talk and via his book (that he gifted to us at the conference) ‘How to Run a One Minute Practice’, that we were able to increase the profits in our business and start living the life we dreamed. So when I decided I would put together a podcast that helped other aspiring nutrition entrepreneurs, the first person I reached out to was Paul Wright. You can listen to the full episode here.

My chat with Paul shed light on an essential truth: to truly serve our clients and make a lasting impact, embracing the nuances of running a business is non-negotiable. Paul's story is a testament to the idea that the leap from a healthcare professional to a successful business owner is not only possible but can also amplify our ability to do good. His transition from a physiotherapist (and briefly a PE teacher) to owning multiple clinics and eventually mentoring others in the healthcare field exemplifies this beautifully.

Building on Systems

One of the most significant takeaways from our conversation was the importance of systems in scaling and sustaining a business. Paul emphasized that "successful businesses leverage ordinary people with great systems." This concept struck a chord with me. It wasn't about finding superstar dietitians (even though we did), but rather about creating a system where every team member could thrive and contribute to our client's health and our business's growth.

Recruitment Essentials

One of Paul’s key takeaways when starting any business is the need to identify the key drivers for success; is there an available market for your services, and is there an available labour supply to service that market? This is why recruitment can make or break a business, particularly a health business where the skills required may be more challenging to find. Our business was in regional Queensland. When we started, I researched the demand for services but failed to consider any labour supply issues we may face. I never intended to build a business with staff. I was happy with just myself and my wife Stace. We soon outgrew this structure and recruitment became a necessity. Recruiting to regional areas meant a smaller pool to choose from. Fortunately, we recruited great staff, but it was never a smooth process. Had I implemented some of the strategies Paul discusses, then my life may have been a little easier. Paul’s system of continual, strategic recruitment is a feature I would highly recommend to anyone looking to grow.

Hold Off The Blood Transfusion

Paul spoke of an analogy he uses at Practiceology^TM, called ‘hold off the blood transfusion.’ Never has an analogy been so relevant to the way we ran our business. Paul explained that many health businesses are looking for the next shiny marketing object that will bring in new clients. They’re looking at Facebook or Google ads, doctors meetings, newspaper advertising, etc. All of these are great, but not if you're losing clients that you already have. This was us 100%. We were looking for the next blood transfusion, without addressing the cause of the bleeding. We did not have the systems in place to help retain our existing clients and were instead focused on just bringing in new clients. As Paul said about chasing new clients, “That’s the most expensive audience you’re going to get.”

Over the years we spent thousands of dollars on Facebook ads. We even had our own Facebook consultant back in the day when Facebook support was virtually non-existent. Paul has been able to significantly reduce his client’s marketing budget, while still increasing profits, all by attending to the leaks in the business first. Looking back now, this would have been hugely successful for our business. We were constantly seeking the transfusion despite not stopping the bleeding first.

So if we had our time again, what would we do differently? We would certainly focus on perfecting our systems. Simply hearing Paul talk at a conference allowed us to make significant changes to our business that improved our profitability. Had we engaged Paul’s services to fully systemize our business, we may have been able to travel Australia with our kids without having to sell our business first. On reflection, we had so many leaks in our business that had we plugged them, could have saved thousands of dollars.

I would like to sincerely thank Paul for giving up his time to talk to me on my podcast ‘How to Build a Profitable Nutrition Business.’ The invaluable insights he shared, not just on the podcast, but with health professionals all over the world; help health businesses not just survive, but flourish. Without people like Paul, health businesses like ours, and possibly yours, would not exist for long enough to make the impact on the world that I know we do.

If you’d like to learn more about Paul Wright and Practiceology^TM, you can click on any of the links below. Either reach out to Paul directly or access the resources on his website to get started. You won’t regret it!  

LinkedIn: https://www.linkedin.com/in/paulwright-practiceology/

Website: https://www.mypracticeology.com/

Chat with Paul: https://www.mypracticeology.com/kickstart.php