What can you do now to ensure a successful year?As we move into the second quarter of 2015, it’s time to get serious about your profits. If you are committed to maximizing your growth this year, you must have ZERO TOLERANCE for mediocre staff, sloppy processes and lazy practices that underwhelm your patients. Aesthetic patients today won’t tolerate being treated like second class citizens. They will give their disposable income to the practice that makes them feel special.

Remember there is always someone behind you who is looking at taking your place in the market.

Creating a successful aesthetic practice in times of economic uncertainty is a daunting challenge. Emphasising the patient’s experience, effectively using social media and the web, and an ego-devoid introspective analysis of the flaws of your practice are essential for any successful aesthetic practitioner to grow and be prosperous despite any shortfalls in the economy.

The core principles in medicine and business can, at times, be contradictory. However, the essential fundamentals of medicine are consistent with the best strategies in business. For example: doing the right thing, selflessness, and empathy – bode well in business also. However business is a competitive world and the success of any company is mainly measured in financial statements. We all know that cosmetic medicine is not a general medical business; aesthetic practitioners are selling an expensive luxury, not a health necessity. However, it is important to remember that aesthetic medicine is still, first and foremost, medicine, and beyond any other profession or business, practitioners have an enormous responsibility to always do what is in the best interest of their patient rather than themselves. No other profession is granted such responsibility or high standards. Success should be measured in the patients’ well-being and not just the bottom line.

Aesthetic practitioners have a responsibility to treat the patient first using the most responsible and most appropriate treatments while keeping in mind the luxuries of retail to keep consumer driven patients happy and to remain profitable. So how can practitioners practice this fine balance in a down economy and still thrive?

Most importantly, the ‘product’ has to be good. Regardless of the economy, only a business providing a good product will succeed in the long term. If the product is less than promised, the consumer may be fooled for a limited period of time by creative and expensive advertising, but eventually, the individual will catch on to the inferiority and the business will fail. In aesthetic medicine, the practitioner and staff are the product!

That means any service offered by the practice or persons who represent the practitioner must be aligned with the highest standards of quality. Their competency will be perceived as a reflection of the practitioner. Additionally, the practitioner will have to be well versed in the medicinal products offered and continue to perfect his or her technical skills.

If the product (practitioner) is no good, word spreads fast. This is true in any economy, but with the limited opportunities and increased competition, a practice cannot tolerate even a minority of disappointed patients. For an established doctor seeing a decline in business, now is the time to act fast and implement measures to ensure the practice thrives in the current downturn. Those seeing a reduction in business need to re-evaluate their current policies with an ego-devoid introspection and attention to the following formula so they continue to grow and prosper, as your competitors wonder what happened.

The following success formula will address all of the above and, if implemented, will keep your phones ringing, your patients buying and referrals coming to you. The point is to first check your mind-set. Are you buying into media pessimism? If you are, you are not going to be open to opportunities and possibilities so fix that first.

What are your thoughts on making your clinic more profitable? Leave us a comment!