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What I Learned From Reaching 7 Figures in Two Different Business Models

What I Learned From Reaching 7 Figures in Two Different Business Models

I love starting new things. I'll admit that I had previously struggled with persistence and seeing them through prior to these, but I've had back-to-back years of bringing a company to 7 figures in revenue. They were different companies and different business models, though within the same industry - behavioral health.

A good portion of my consulting time has been spent with behavioral health companies, primarily through the marketing, admissions, public relations and business development functions. Here is an overview of each model and what was done, including the pros and cons of each.

Online and Telephone Services

We offered direct training and marketing services for treatment facilities as consultants. We developed valuable web properties that were instrumental in assisting people find treatment services.

Pros: - Very low overhead and development costs. More flexibility and ease of time requirements.

Cons: - Unpredictability of clients and their staff turnover, instability of search engine rankings.

Brick and Mortar Services

We created a new outpatient recovery program, then replicated it and set it up for exponential growth.

Pros: - Learned a ton about truly developing a valuable brand and program. Got to work directly with a team of people and patients in person. Developed new skills in running a business.

Cons: - Had to handle a lot more overhead and worked harder to get things off the ground, had to deal with regulatory agencies and licenses, HR, HR, HR.

My Biggest Takeaways

First and foremost, a better knowledge of that industry, and business as a whole. I developed new skills as an entrepreneur in terms of having to learn as we went and pivoted with change. I truly loved both models, and I learned a lot about myself and partnerships as well.

There was more pride in taking a concept to a successful reality on the brick and mortar services, because it was more tangible and seeing changed lives, satisfied clients and team members working together in person was rewarding. However, the online and telephone services actually fit my personality more in terms of needing times of quiet and solitude.

Overall, I now feel I am even better equipped to help other business owners than I was before these experiences, both in the behavioral health space and beyond.