Why a Niche Will Make Your Healthcare Practice More Successful

The natural health industry is booming.

With rising costs of conventional medicine, consumers are increasingly receptive to trying alternative healing methods—many of which are finally getting well-deserved recognition for their scientific validity.

Even with this tremendous opportunity in the vast healthcare industry, many practitioners make the mistake of offering services that are broad, generalized, and non-specific… which leads to a practice that is forgettable, even in a booming market.

In this post, I’ll explain why choosing a niche can help your practice stand out and succeed.

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Analyzing Profit Margins FAQs Part 1: Perceptions

Can our personal beliefs about money influence our company’s success?

How do our perceptions impact business decisions?

Why is the “Fake It Till You Make It” mindset dangerous?

I answer these questions—and much more—in my Live Facebook Video. Check out the recorded video here, or read the transcript below (including bonus content!)

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Company Culture FAQs Part 4 of 5

In part 4 of our series on Frequently Asked Questions about Company Culture, we discuss leadership transitions, decision-making, and why it’s important to make room for your staff to grieve.

Watch the recorded video here, or read below for bonus-filled content.

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What is Transaction Avoidance Syndrome? Part 3 of 3

Part 1 | Part 2 | Part 3

Evaluating your own professional worth can be very difficult. As mentioned in previous posts, our underlying discomfort with transactions can cause us to make long-lasting mistakes.

Even outwardly “successful” business owners often struggle with Imposter Syndrome: the fear that eventually, someone will find out we were faking it all along. As a practitioner, you may feel uncomfortable discussing costs with your customers. You might wonder when you’ll get paid but take extreme measures to avoid discussing the topic of money.

These are all signs of Transaction Avoidance.

Practical Solutions

If you are having trouble charging what you’re worth, here are some tips:

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What is Transaction Avoidance Syndrome? Part 2 of 3

Part 1 | Part 2 | Part 3

A transaction is what happens at the end of a business exchange. The word comes from the Latin: trans- (“through”) and -agere (“to drive”).

As discussed in Part 1, many things can go wrong when we exchange payment for a service or product. A lot of us feel an underlying discomfort when we receive money.

This discomfort can look harmless at first. As a practitioner, you might spend “a few extra minutes” with each patient, or put off discussing payment options until the end of the visit. But the subconscious avoidance can have a very damaging effect on our business profitability.

Let’s take a look at why this happens.

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What is Transaction Avoidance Syndrome? Part 1 of 3

Part 1 | Part 2 | Part 3

Profitability is a huge problem that keeps many small businesses from growing. In an ideal sales process, here’s what happens:

  1. The customer becomes aware of a need.
  2. The customer determines what options exist by asking around, doing online searches, or walking into a store.
  3. The customer decides (perhaps with the help of a friendly sales rep) to invest in a particular service.
  4. The seller explains the investment that is needed for the service.
  5. The customer provides payment.
  6. The seller completes the service and makes sure the customer is satisfied.

Some companies wait until after the service is completed before they request payment.

Either way, a good transaction is based on trust: a strong belief that your initial problem will be fixed, and that the value you receive will exceed the cost you’re paying.

But sometimes, this process doesn’t go the way it should.

Continue reading “What is Transaction Avoidance Syndrome? Part 1 of 3”