Med Spa CEO Podcast: Episode Summary
Title: The Proven Quarterly Planning Strategy To Create Clarity and Drive Revenue In Your Next 90 Days
Host: Heather Terveen
Release Date: April 9, 2025
Overview
In this insightful episode of the Med Spa CEO Podcast, Heather Terveen delves deep into the art and science of quarterly planning tailored specifically for med spa and aesthetic practice owners. Aiming to help listeners grow their businesses profitably without sacrificing personal time, Heather provides a comprehensive strategy to enhance clarity and drive revenue over a 90-day period. This episode is a must-listen for med spa owners seeking structured approaches to business growth and operational excellence.
1. Introduction to Quarterly Planning
Heather opens the discussion by emphasizing the critical role of quarterly planning in ensuring the consistent success of med spas. She underscores that strategic planning every quarter allows business owners to focus on campaigns, initiatives, and efforts that directly contribute to revenue and profit growth.
"This is how we can make sure that your quarters, every single quarter can be incredibly successful...focused on all of the campaigns, initiatives, and effort that is going to help you drive revenue and profits for your business."
— Heather Terveen [00:00]
Heather credits Todd Herman's The 90 Day Year for inspiring her shift from annual to quarterly planning. She explains that a 90-day window is optimal for human cognition, striking a balance between being long enough to implement meaningful changes and short enough to maintain focus and drive action.
"As humans, 90 days is really an appropriate amount of time to actually make big moves. Anything outside of the 90-day window is really too long for our brains to wrap our hands around."
— Heather Terveen [02:30]
2. The Importance of Mindset in Quarterly Planning
Heather transitions into discussing the mindset required for effective quarterly planning. She introduces the concept of a "thinking audit," encouraging business owners to introspectively assess not just the results of the previous quarter but also the thought patterns that influenced those outcomes.
"Clarity breeds confidence and conviction. The more clear you are on what your initiatives are, the more likely you are to see success."
— Heather Terveen [03:55]
3. Conducting a Quarterly Assessment
A pivotal part of Heather's strategy involves a thorough assessment of the previous quarter. This includes evaluating what worked, what didn’t, and identifying areas for improvement. Heather stresses the importance of owning the results, whether they are positive or negative, and reframing any excuses that may hinder growth.
"Own the results, whether they're good or bad. Good or bad is totally subjective by the way. You can actually interpret the results however you want to."
— Heather Terveen [05:10]
She warns against attributing failures to external factors like the economy or team performance without taking personal responsibility. Instead, Heather advocates for proactive adjustments and strategic adaptations to ensure continuous progress.
"We do not want to think that we're at the effect of what's going on in the economy."
— Heather Terveen [07:10]
4. Embracing and Planning for Failures
Heather introduces the transformative idea from Brooke Castillo of the Life Coach School to "plan for 25 fails" each quarter. This approach encourages business owners to take bold actions without fearing failure, thereby fostering a culture of experimentation and learning.
"Plan for the failures. I want you to plan 25 fails, okay?"
— Heather Terveen [08:21]
She clarifies that "fails" are not personal failures but strategic actions taken on uncertain outcomes. This mindset helps overcome paralysis by analysis, enabling med spa owners to implement new strategies and rapidly learn from their experiences.
"Results, whether good or bad, are better than stagnation and inaction."
— Heather Terveen [12:34]
5. Strategic Decision-Making and Focus
Drawing from personal anecdotes, Heather emphasizes the necessity of strategic focus. She shares the story of her daughter, an athlete overwhelmed by conflicting coaching advice, to illustrate the pitfalls of overcomplicating strategies.
"You have to have the discernment to know how to actually apply that to your business specifically."
— Heather Terveen [20:29]
Heather advises med spa owners to simplify their strategic approaches by selecting one primary strategy to focus on, thereby avoiding confusion and ensuring consistent implementation.
"Pick one strategy and go all in on it, and then have the wisdom and discernment for knowing how to actually apply that to your business."
— Heather Terveen [20:28]
6. Practical Steps for Quarterly Planning
Heather outlines a step-by-step approach to quarterly planning:
-
Dedicated Planning Time: Allocate specific time each month preceding the new quarter to focus solely on planning.
"Set aside a dedicated time, the month that precedes an upcoming quarter."
— Heather Terveen [22:06] -
Review Numbers and Initiatives: Analyze the previous quarter's performance metrics and promotional initiatives to identify successes and areas needing improvement.
"Look at the numbers for any initiatives, promotions that you did for the previous quarter."
— Heather Terveen [22:22] -
Build Your Menu: Utilize a spreadsheet to organize all current offers, ensuring each has its place in the annual strategy.
"Look at an annual year from a high level and make sure that every single offer that we have has its day in the sun at some point."
— Heather Terveen [23:10] -
Event Planning: Strategize events around specific topics relevant to the target audience, turning each event into a focused funnel for high-value clients.
"Create events that are around a specific topic that's going to call in a certain type of human that has the high value problem related to that event topic."
— Heather Terveen [24:21] -
Team Accountability: Ensure all team members are tracking key performance indicators (KPIs) and are aligned with the quarterly goals.
"Track package sales, we track, you know, these things. These are the things that we do in perpetuity for tracking."
— Heather Terveen [25:10]
7. Achieving Radical Clarity and Strategic Focus
The ultimate goal of Heather's quarterly planning strategy is to attain radical clarity for business owners and their teams. By meticulously planning promotions, events, and tracking KPIs, med spa owners can avoid the last-minute scramble and ensure their strategies are aligned with revenue-driving initiatives.
"Strategically making sure that you are focused on all of the campaigns, initiatives, and effort that is going to help you drive revenue and profits for your business."
— Heather Terveen [26:09]
Conclusion
Heather Terveen wraps up the episode by reinforcing the value of quarterly planning in creating a structured, clear, and actionable roadmap for med spa businesses. She encourages listeners to implement these strategies to enhance their business operations, drive revenue, and maintain a healthy work-life balance.
"This is how we can make sure that your quarters, every single quarter can be incredibly successful."
— Heather Terveen [26:09]
Heather invites med spa owners to take the next step by joining the MedSpa Advantage program, designed to support business growth while reclaiming personal time.
Key Takeaways
- Adopt a 90-Day Planning Cycle: Focus on short-term goals to maintain clarity and drive action.
- Conduct a Thinking Audit: Evaluate not just performance metrics but also the thought processes that influence outcomes.
- Own Your Results: Take full responsibility for business outcomes, reframing failures as learning opportunities.
- Plan for Strategic Failures: Encourage innovation by accepting and planning for potential setbacks.
- Maintain Strategic Focus: Avoid overwhelming strategies by selecting and committing to one primary approach.
- Implement Structured Quarterly Planning: Follow a detailed, step-by-step approach to ensure all aspects of the business are aligned and progressing toward revenue goals.
By embracing Heather Terveen's proven quarterly planning strategy, med spa owners can achieve enhanced clarity, sustained revenue growth, and a more balanced professional and personal life.