Dentists, Doctors and Business Owners: How to Survive the Hard Economy
August 172011
The following applies to to all willing to succeed , even though my expertise mainly lies in supporting dentists in dental practice marketing and have also helped doctors and small business owners to become financially successful in their businesses, the problems and solutions talked about are severely relevant to everyone.
First, let me share with you my fundamental belief:
When a person sees something which is obviously wrong – even though only in his viewpoint – he better speaks out and channels his energy to right the wrong.
Commonly this can only be accomplished by making the rest of the people aware of what is happening and help them fix the situation for them.
One also should simply withdraw support from the people who cause the wrong.
This is what Gandhi did – stop supporting an entity who is harmful to the greater good. Don’t take part, don’t support what you do not wish to support and things will set themselves right again.
I believe that one must take a stand to such things regardless of immediate danger – family or personal or business.
Seems a little extreme?
Of course, one could lose everything – especially financially — as for instance some doctors, who have disagreed with the FDA and started treating patients with holistic or alternative medicine, have had their licenses being removed.
The current attempt to hijack the country – even the world – and its people in it – is modern financial slavery and lives will be destroyed by those who are doing the destroying. This is far more devastating than any bad FDA regulations or any bad government insurance regulations even though those things are part of the hijacking and are forerunners.
To survive, maybe only survive in a literal sense, you will need lots of cash.
Edit this text I wouldn’t have suspecting saying such aheavy, but there are plain indications that the dollar will crumble, your real-estate will be nugatory and if you have loans on it you better make truckloads of money to keep it or let it go and buy – with cash — a new one.
America is in such bad financial shape that we presently have a deficit of 13.3 trillion dollars! If Americans were taxed 100% of their income it still wouldn’t be enough to balance the budget. With the so-called ‘economic recovery’ beginning to lose steam, Americans will soon encounter a major decline in the purchasing ability of their savings and income.
What can you – a small business owner – do?
Sell a lot more of what you have to the people (about 15 – 25 % who will still be able to purchase your services) and sell a lot more NOW.
Now, truly if you think about it – making money – selling your services or products when others can’t always, is and always will be the most important thing.
Economics at any level is simple – make more than you spend.
Even though cutting back on expenses has its value at times, you MUST – absolutely MUST — know how to set yourself apart from the competition in a big way, shine more than the competition, shout louder than the competition.
Especially in the period of this great economic recession , making your products and services well-known and well-accepted is the most important factor for surviving financially.
These principles are always at play to determine who are winners in the business world – but they are paramount when times are real hard.
Building a better mousetrap – meaning providing better service as a doctor or in any field — will not spring you to the top.
Being embrassed by one’s community because of the relationships you build and the level of trust you establish with patients and or clients is the best way to maintain a long and strong business. For example, having worked with many dentists in private practices, I could say that the best dental marketing plan will not beat positive word to mouth .
Refuse to think that you can only be affected by economic trends and that you have NO choice but to make money when times are good (most peoplehave not achieved superlative financial wealth).
Please do not think that you must also suffer in your business because your peers are telling you how their businesses are down.
History has shown that during hard times, a huge amount of super rich people and companies have been created.
When the going gets tough, the tough gets going. That is something which you need to do. Use it – get on the ball.
Only 2 – 5 % of people, business owners or doctors will ‘do something’ actively about it as history has shown.
Again, the best asset anyone can have is not real estate, stocks, 401k’s, health insurance – not even gold (even though superior than the previous items) – the best asset is your power to produce something and have the ability to sell it well to your customers.
Remember: Whether you are a business owner or a dentist, engaging in any kind of marketing , including marketing for dentists, start by knowing how to get tons of people buying from you with smart marketing strategies that are fitting for the slow economy.
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