Kaeli Consulting

Why Ignore Industry Averages: A Medspa Consultant’s Advice

As aesthetic practice owners, where should industry data fit into our strategy and decision making? My answer as a medspa consultant might surprise you. 

Of course, savvy business owners do need to stay aware of averages and trends, to gain a deeper understanding of their industry. But using data about other practices to make strategic business decisions is flat out wrong! 

I’ve never, ever been asked to help someone become average. And yet, every day I’m asked by my clients, “What do most people do?”

I routinely hear questions like: 

  • What do most practices similar to mine produce in revenue?  
  • What is the average pay scale for a specific type of employee?  
  • What kind of membership program works for most practices?  
  • What is the national average for xyz?   

Trust me — I understand how tempting it is to play the comparison game. Many of us were trained from a young age to compare ourselves to the people around us. Growing up, we asked ourselves if we were as smart, successful, or productive as our peers. 

The problem is, if we succumb to this way of thinking as business owners, we end up in a vicious cycle. We end up chasing the wrong metrics — ones that don’t truly matter to you.

We end up building a business that is striving for someone else’s version of success.  

Today, let’s unpack that conversation. As an aesthetic marketing consultant, I’ve learned firsthand why this fixation with what others are doing is useless. In fact, it can hold you back, and impede your ability to stand out from the competition. 

Here we go: 6 reasons why this medspa consultant thinks you should ignore industry averages. 

1. Success is subjective, not objective

It’s up to you to uncover what success means for you, and how you’ll measure it.

Very likely, this will be a combination of many factors. These could include:

  • Certain financial outcomes 
  • The ability to run your practice how you want
  • Attracting high quality patients and passionate staff
  • Creating a low stress, balanced lifestyle
  • Having a healthy cash reserve that can self-multiply
  • Creating meaningful impact in the world

However you define it, success will be unique to you. It’s not something you’ll find by chasing and imitating what the practices down the street or on your Instagram feed are doing. If you’re still not sure what success looks like, that’s a great reason to work with a medspa consultant like myself. 

2. Comparisons to other practices are useless

Obviously, comparisons have their place. But they’re nearly always done using objective measurements, such as revenue, number of patients, profit, size of the practice, etc. We simply wouldn’t have the in-depth knowledge of other practices to make a comparison any other way. 

The problem is that these data points are useless without context. On their own, not a single one of these figures tells the whole story. They won’t give you useful information on how to market your medspa, or what doing so well would even look like. 

For example, you might compare yourself to a practice that generated 20% more revenue than yours. You assume they’re doing much better, and you need to catch up. 

But what if that same practice is filled with staff drama? What if they have sky-high patient and staff turnover? What if that revenue is an illusion, and they’re actually drowning in debt? 

Is that still ‘more successful’? Is that really a practice you want to emulate?

Breaking down these useless assumptions is one big goal of spa business coaching. It’s about helping entrepreneurs see what success really looks like, on their own terms. 

3. Comparisons to average are useless

Remember — you are not average. You’re exceptional. Why would it matter what the average practice is doing except to gain a general, contextual understanding of your industry? 

There will always be practices that are generating more revenue, seeing more patients, or building a larger Instagram following. 

You’ll also always be able to find practices that are doing less. Are you automatically better than those below you, and worse than those above you? 

Of course not. Success is a complex, subjective, and nuanced thing. Obsessing over where you fit into some perceived hierarchy is distracting, demoralizing, and unhelpful!

4. Comparisons put focus on the wrong areas

Hyper-focusing on these superficial metrics puts you in a mindset of lack and scarcity. The only way to win at this game is to do exactly what clinics do, only bigger, better, and faster. 

At best, that leaves you with a copycat of someone else’s practice. In my work as an aesthetic marketing consultant, I’ve seen this happen time and time again. Comparing yourself only pulls your focus away from building a practice that meets your definition of success. 

5. You need inspiration, not competition

Forget about comparing numbers. Instead, look for other practices — or even organizations in another sector entirely — that inspire you. What do you love about their business? What do you feel positively inspired to emulate, rather than feeling lesser-than and panicking because you think you don’t measure up?

Is it obvious how much they truly love their business? Do they have beautiful, authentic branding? Is it clear how much their patents and clients value them? What’s their process? Did they use spa business coaching, or any other tools to get there?

Instead of sinking into jealousy and competition, business owners should be inspired by each other. There’s enough out there for everyone — provided we’re all true to our own values, goals, and dreams.

6. Compete with yourself only

Focus on achieving your own goals.

Do you have a clear vision of success for your practice? What does it look like? Where are you now, and what can you do to move toward that vision? Are you getting closer every single day? 

The bottom line here is that success is individual. Remember, you never have the full story of what’s going on with other business owners and their journey. Don’t let your perception of how they’re doing pull you into comparison, and shape how you market your medspa. 

It’s incredibly harmful to make decisions from a place of competition and insufficiency. You risk rushing, making impulse decisions, and running your business reactively, instead of from long-term vision. 

That robs you of the joy and richness of creativity, impact, and autonomy. And isn’t that why you became an entrepreneur in the first place?  

Trust a medspa consultant — put yourself first!

As Teddy Roosevelt so aptly stated, “Comparison is the thief of joy.” 

As an entrepreneur, you can have it all. You can find deep joy in what you do, while building your practice into a multimillion dollar enterprise, on your own terms. 

As an aesthetic marketing consultant and business coach, I’m here to support you on that journey. Join my community of ambitious female entrepreneurs. We’re driven by our values and lead from the heart, even as we stay driven by our financial and professional goals. 

I recommend starting with my podcast, The Fierce Factor. Every Monday, I share honest, personal advice. Lessons over a decade of working in corporate America, and connecting with hundreds of aesthetic practitioners and helping them reach their goals. 

Check out the podcast now, or sign up for my newsletter and give me a follow on Instagram. I hope you choose to become part of our community!

Comments are closed.

Thrive in any Economy

What are your goals?


X Close