As competition in my community has increased, I’ve seen more and more ads from other providers that say “free trial” or “free test drive.” It’s been my experience that these trials may be free to a patient but are anything but free to a business. Some hearing care providers allow patients to try several different aids with […]
I had a patient recently that came in for their initial evaluation and they were already complaining about the cost of hearing aids before I even tested their hearing. I dreaded having to explain the hearing loss because I already knew the outcome. It’s never easy to tell a patient that they have lost a […]
It consistently amazes me that patients will come in for regular appointments and assure me that they are happy and have no interest in new technology and then they will surprise me by returning for a “special event” a month or two later and then despite what they told me two months earlier, they decide […]
I would venture to guess that every practice owner struggles with developing an effective pricing strategy. After reviewing the stats for my business for Quarter 1 in 2019, I noted that our ASP was down $200 a unit which caused a HUGE reduction in profit in a business of my size. I watch my numbers […]
My business (and I) are out of shape! I’ve had the luxury of living three months in Florida and it’s been wonderful BUT… I have gotten a bit out of touch when it comes to business and my life. It’s not that I have spent the last three months just eating Oreos and watching reality […]
There are only three ways to grow a business – Get more customers; Get current customers to spend more frequently; or Get current customers to spend more $$ each time they spend. That’s it. It’s expensive to get more customers as advertising costs more and more and there are so many people advertising to the […]
I have never been an advocate for joining groups but this is an exception! I am starting a Network called The Sapphire Society. The sapphire is a precious gem that represents strength, wisdom and good fortune and that is just what this group will offer to its small, select group of members. I have been […]
So how do you know if you have a healthy practice? Well, the first and most important way to know is that the business generates enough profit that you are able to pay yourself a wage that is reasonable for your position in the business. This may not be true if it’s a new business but a […]
I think every practice struggles with marketing. How much should I spend and where should I spend it? Colleagues will call and ask, “Can you send me your marketing pieces that are working?” There is no simple answer and what works in my area may not work in another market. I’ve spent some time in […]
I started my business so long ago, I didn’t really have a realistic grasp on what it takes to start a practice in today’s competitive marketplace. But I know a young man who was just meant for this business and so, after all these years in practice in my small town, I decided to embark […]