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REIKI BUSINESS MODEL
In your Reiki business, your Reiki sessions are your primary income which is based on a business model of being paid for your time spent providing services. As your time is limited, you should establish a business structure that focuses on providing you with the most available time to provide Reiki sessions to your clients.
While a Reiki therapy business is primarily based on delivering services, you can also sell products to increase your income. This can be physical products such as natural health supplies, kits, workbooks or physical books that you recommend or have written yourself. You can also use your website to sell digital products such as e-books, e-courses or digital workbooks.
As a service provider of Reiki therapy, your income is derived by your hourly rate. If you are running your own small business, your hourly rate should reflect an amount that will cover all of your business expenses. Establishing a profitable business that is based on delivering Reiki as a service requires a balance between understanding your income, expenses and your final profits.
In addition to using your time to deliver Reiki sessions, you can also create digital products to sell through your website. These products can help generate income without you having to manage a physical product. Digital products have an infinite inventory so you can generate income on one product indefinitely.
Tracking and analyzing your costs is an important part of running a profitable business. Recording your costs provides you with the proof of where your money is being spent so that you can make adjustments where necessary. Tracking your business costs helps you set your original business goals as well as provide you with feedback on how successful you are with your budget.
In the initial stages of business, it is difficult to spend money on outsourcing tasks as you begin with a limited budget. Over the past few years it has become much easier to outsource many administrative tasks. You can outsource to a worker who is based anywhere in the world. You can also choose to outsource only specific tasks without committing to hiring a full time employee. Outsourcing can involve using a virtual assistant to undertake administrative duties for you. You can also outsource one-time tasks such as graphic designs for your logo or building your website.
CREATING A BUDGET
Setting goals allows you to set your intentions for your business profit so that you can work towards building a successful Reiki practice. Setting goals provides you with a pathway on how to plan your client Reiki sessions, how to manage your expenses and how to manage fluctuations in your income. One of the primary indicators of business success is setting goals for your business.
Once you have established your goals, you can create a series of steps to put your plan into action. You should review your goals regularly to ensure they are realistic for your current circumstances. You should also check that your goals still align with what you want to achieve both professionally in your Reiki business and in your personal life.
TRACKING YOUR CASHFLOW
Cashflow is an important part of running your business. Managing your cashflow through recording and tracking is a daily process that can be easily set up using the correct systems. By regularly monitoring your cashflow and overall financial position, you can operate your business more confidently knowing you are prepared for any future challenges.
Cashflow is integral to the daily running of your business so that you can financially survive as well as grow your business.
ANALYZING PROFIT DRIVERS
FINANCIAL PROFIT DRIVERS
For a service based business like a Reiki practice, there are four main profit drivers. These include price, variable costs, fixed costs and sales. By successfully managing these profit drivers, you can impact your business profit and overall growth.
NON-FINANCIAL PROFIT DRIVERS
Non-financial drivers also contribute to your business success and profit. These non-financial drivers include productivity, client satisfaction, employee morale, business culture, and your position in the industry. These drivers are not always expressed in financial terms, however, they impact your profit.