When you compare your current revenues to last year at this time, are you doing better or worse?
If you’re doing well, congratulations and keep it up. Whatever you are doing is working.
If things are NOT going as well as planned, let’s figure out why since so many variables are in play.
Here are typical scenarios that come up for plastic surgeons that take them off their game and hurt their profits:
They were distracted due to a situation in their family life
None of us have any control over certain things that happen to us. Your house burns down, your spouse gets a bad diagnosis, your teenage kids get into trouble and the list is endless.
The best defense for cr*p happening is to have a plan and a well-trained team of professionals surrounding you who can rally around you to lessen the fall.
That means they know how to do their jobs without being micromanaged and they are revenue-generators who keep revenues coming in no matter what.
They lost an A-Player on their team
Oftentimes, there is one staff person on your team who seems to know how to do everything, right?
They know how to run various computer programs; they can run vital reports, organize your systems and handle the marketing.
But what happens when they unexpectedly leave for whatever reason? I have seen practice revenues plummet when a practice is that vulnerable to one key player.
A competitor moved in and takes business away from them
It’s inevitable that more competitors are going to show up in your area. That should NOT be a big concern to you as long as you have created a raving fan club of cash-paying patients who love you and refer their friends.
How do you know? Is 70% of your revenues (NOT LEADS) but revenues are coming from current patients and those they referred, you know you have a solid foundation set up that a competitor can’t infiltrate.
They stopped doing something that was working to save a few bucks
Here’s what I know for sure….you can’t save your way to financial freedom.
You invest in the right people, processes and tools to help you grow your revenues so you have the money to invest back into your practice and grow.
Doesn’t that make sense?
So how do you avoid the above pitfalls to financial destruction?
The answer is simple (but not always easy).
For example, when it comes to building a team:
- You get the right people on the bus;
- You give them the right tools to work with; and
- You hold them accountable.
But you also treat your staff with respect and give them a plan to follow. Then you invest in their training and incentivize them in a way that makes them want to stay for a lot longer than usual.
When it comes to competitors, you put a marketing plan in place that differentiates you as the BEST CHOICE so your current patients stay loyal to you and refer their friends.
That way, you’re not so vulnerable to google rules and confusing SEO tactics when it comes to “Internet Stranger Patients”.
If your plan could use some tweaking, check out this training I did at the beginning of the year to be sure you are set up to win in 2018.
You will discover how to …
- Generate more revenues you can consistently count on month after month;
- Encourage your patients to return more often;
- Generate more word-of-mouth referrals organically;
- Make it a system you can measure and count on for consistent revenues.
Imagine having a solid plan in place knowing it’s humming along and YOU don’t have to think about it.
Do you have a plan in place that is working well to get you new cosmetic patients?
Catherine Maley, MBA is a business/marketing consultant to plastic surgeons. She speaks at medical conferences all over the world on cash practice building and trains staff to be converting rock stars. | View Author Profile | Get a Free Copy of her popular book, Your Aesthetic Practice: What Your Patients Are Saying