Throughout the launch of this beta platform with several coaches and their practices, we learned key takeaways that are informing our future direction:
There’s low willingness to pay from clinicians starting out.
Health and wellness providers are excited about a solution that will help them launch and manage the business side of their practice, but there’s a low willingness to pay. Many providers start out part-time, so there’s a low urgency to get good systems in place and they can’t justify using much more than free tools.
High switching costs.
For those that have more established practices, convincing them to switch off legacy software (e.g. Simple Practice, Jane App) is challenging, even if they aren’t happy with it.
Adding new revenue streams is nice-to-have.
Providers are excited about the prospect of adding new revenue streams (like group sessions and courses) but doing so often falls to the back burner. Clinicians face similar struggles when starting a new revenue stream as they do when starting the business because they lack business, legal, and technical expertise; this is especially important for “creator-centric” offerings such as courses and monetized content.
Crowded space.
Although there is no one-stop-shop for clinicians to start and grow their businesses, there is a lot of activity in the space in the form of individual tools (e.g. billing optimization, AI scheduling + note-taking). This makes the psychology of switching tools particularly difficult for clinicians and difficult for us to reach conviction we can capture a reasonably sized chunk of this market.
What’s next?
We’re shifting our ICP focus away from health and wellness clinicians towards brick-and-mortar, private-practice physicians. Through running a pilot with a cohort of health coaches and nutritionists, we concluded there is a lower willingness to pay than we originally anticipated; at the same time, it became clear that there is a huge opportunity to enable physician-owned practices to retain their autonomy. We’re grateful that we learned a ton about this market and tested (& disproved) many of our hypotheses without writing much code or over-investing in any particular solution.
Stay tuned!
Website & Branding
Our landing page. Does it feel Joyful?ColorsLogo treatments