By Honora Wolfe of Blue Poppy Enterprises
If we want to do well in business even in times of a poor economy, we must first understand that it does absolutely no good to complain to people about tough times. When we complain about how bad business is, people may sympathize but cannot do anything to help us and, more disastrously, our brain and the universe gets the message we just sent and responds accordingly. So, instead of complaining to colleagues, clients, or even to yourself, get busy! Chances are the untapped profit in your existing customer relationships is much bigger than any economic downturn. You just have to work creatively to find better ways to tap into those relationships. Below are several ideas to help us all get through difficult financial times. Not every idea will resonate with every practitioner who reads this. Some won’t pertain to you. However, if you implement one, two, or three of the ideas that are relevant to your practice, I can almost guarantee that business will improve.
1. Call your patients, especially those that have not been in for a while. This may sound ridiculously simple, but I find that few practitioners do it, usually because it feels scary. However, I say, would you rather have butterflies in your stomach, or would you prefer to go out of business? So write yourself a script to use so that you don’t become tongue-tied. Ask how they are since they last came in. Ask if they are having any stress-related symptoms because of the economic situation. Tell them that you know times are tough and you have several treatment plans to save them money if they want to come in to see you (package deals, family discounts, a free birthday treatment, ½ price treatments for anyone who has lost their job, deferred payment plans, etc.) If you don’t have any clients for an afternoon, you can sit and bite your fingernails, or try to make one or two more appointments.
2. Ask for referrals. For those patients who are coming in, create incentives for them to send a friend or family member. An incentive could be one free treatment, two tickets to a movie, or a nice chocolate bar. Whatever you do to show your gratitude (depending upon the legal limitations that you may have) you will get more referrals from patients if you ask for them than if you don’t. Put up a sign that says “My business thrives from your referrals. They are the highest compliment you can give me.”
3. Do a real budget if you don’t already have one. What expenses are fixed and which ones are discretionary? What supplier contracts could be renegotiated? This includes credit card interest rates, phone rates and plans, possibly your rent, and every other vendor from whom you purchase anything. What other ways could you cut expenses without sacrificing good service? One practitioner I know changed her schedule to three 12-hour days and rented out her space two days per week to someone else. She saves on commuting expenses as well as rent, and her patient population responded well to the night hours.
4. Collect on old accounts. If anyone owes you money, try to get it. Negotiate a payment plan with them even if they can only pay 5 quid per week.
5. Develop new relationships. If you have time on your hands, look for a useful volunteer opportunity that will connect you to as many people as possible in your community. This could be coaching a girls football team, the local hospital auxiliary fundraising committee, a community food-share organization, a 10K race to raise funds for breast cancer. The possibilities are endless, but should be related to the type of patient that you want to attract. If the work is event-specific, when it is over send out a thank you card to everyone you worked with that includes your business card and tells them that you don’t know if they might ever need your services, but you’d be happy to speak to them if they are ever in need of healthcare.
6. Create a new service. What portion of the possible market are you not serving? Could you take a class, read a book, or somehow get up to speed in a new market? For example, if you treat women, remember that a mother will go to almost any lengths to help a sick child. Pediatrics might be a good way to expand. Or, if you want to go for a more upscale market, aesthetic acupuncture (facelifts) can be a great direction to go. You can even market this service as being far less than going under the knife!
7. Sharpen you skills. Take a survey of your treatments over the last year to determine how many of your patient interactions were as successful as you would want. Look at this as honestly as you can stand. Could you do better? Then think about when was the last time your really studied the medicine? When was the last time you read a book on Chinese medicine. We must never assume we know everything we need to know. Decide to get better at one thing…just one thing, and find the resources to do that. You’ll be surprised at how the universe will respond.
8. Rededicate yourself to concentrating on giving incomparable service. People recognize excellence when they see it. I know one successful acupuncturist whose business has grown in the last few months. Her secret to success is that every patient she sees absolutely knows, every time, that she is completely and totally there for them every minute. No distractions, no self-centeredness, no excuses. She dedicates every minute when there is no patient to studying the medicine. She is an extremely competent practitioner and her focus is always on her patients and the medicine, period.
9. Rethink your marketing plan. Do you even have a marketing plan? If not, or if you have not thought about this in some time, find ways to do outreach that cost you little or nothing. For example, look in the local paper’s community news section to find every organization that is having a meeting in the coming week. Contact them and offer to give a free lecture at an upcoming meeting. Find a hook that relates to their interests. For example, a cycling club could be interested in improving recovery times from races or other events; a book club could be interested in improved eyesight. Fibromyalgia, diabetes, heart disease, or other-disease support groups are also obvious choices. You might also volunteer as a local radio health-talk-show host.
10. If you don’t like to do public speaking, for whom can you write articles? Local group newsletters and monthly publications, company intra-net newsletters, and newsletters for any of your patients clubs, groups, and associations are obvious places to start. (Do your patients know you’d be happy to write articles about Chinese medicine for their organization, club, or company’s newsletters?) Of course an email newsletter to all your own patients is cheap, fast, and easy to do. It only needs to be a few hundred words on a seasonal or “in-the-news” topic and at the same time you can announce special offers, classes, up-dates on recent classes that you took or new services you are offering. And, it’s a way to keep you in your patient’s mind.
11. Recreate a fantastic intake procedure that builds your credibility. Use charts to locate pain and discuss how acupuncture can treat it. Show new patients how pain in one area is connected to other parts of the body. A picture is worth a thousand words and, used well, they can make you look really smart and skilled.
12. On calls from prospective patients tell the patient something like, “Why don’t you come in for a free consult and we’ll discuss your problem. Then I’ll let you know if I can help you. If I don’t think I can be of help, I’ll try to make some suggestions for you. If I can, we’ll talk about what the treatment would be like and you can decide if this the type of care you wish to pursue.”
These few sentences do a lot:
• Convince the person to come in without hard selling.
• Establish a basis of trust - tell them the truth, even if it’s that acupuncture isn’t for them.
• Avoid the “When you have a hammer, everything looks like a nail” syndrome.
• Establish yourself as an authority in their minds.
13. To elaborate on this, go through every aspect of how your office operates.
• Does your phone get answered promptly and intelligently with each and every call? Have a friend call and ask a few questions of your front desk staff and give you feedback on their experience.
• Is your paperwork clean and easy to understand?
• Is your first appointment with each patient well planned?
• Is your front desk staff well trained?
• Are your directions to the office easy to follow?
• Is your history taking and physical exam competent and lovingly approached without taking all day?
• Are your explanations of acupuncture and Chinese medicine clear, understandable and well rehearsed?
• Do you have good information to send home with new patients that help you “close the deal” on becoming your patient?
14. Don’t panic. Remember that a recession is a slow down, not a stop sign. If you are anxiety-ridden, you cannot give the best quality care and you will make yourself sick as well! Remember the wise words of the Dalai Lama, which go something like this: “Worry does not help anything. If you can do something about a problem, then do it and don’t worry. If you cannot do anything about a problem, then there is no point in worrying.” In our case, there are, absolutely, things we can do about our problem. So make a list of the things you can do and, to quote the Nike advertisements, “just do it.” No excuses, no delays, no whining.
15. Also, please know that the suggestions I have listed here are not exhaustive. Go to websites like Entrepreneur.com; sign up for marketing e-newsletters; talk to other practitioners about how you all might help each other and what marketing you could do as a group, since several heads are always better than one.
My main point here is that, while you cannot control the economy or your competition, you can control both your internal and external response to the economy. Start with your attitude by consciously making the decision to refuse to participate in a recession. Then work at developing your networking skills, reviewing your office systems and operations, revising your marketing plan, and updating your skills to keep your business as strong as possible. You don’t have to allow a bad economy be your excuse for failure. Instead, make it your opportunity to succeed. While others are looking at the problems, looking for opportunities will not only get through a bad economy but may allow you to prosper.
I wish everyone who reads this article many blessings for success. If you have come up with an idea that helps you survive and thrive in this difficult time, please share it with me to pass along to other practitioners and students. Thanks for reading.
Honora Lee Wolfe, Dipl.Ac, has owned or operated four different businesses since 1976 and has been practicing acupuncture since 1988. She is the author of Points for Profit: The Essential Guide to Practice Success for Acupuncturists. She teaches classes throughout the US and Europe. You can email her at honora@bluepoppy.com.