Consistency in Charting
We explore why consistent practices matte when it comes to patient charting and photography, how consistent practices can protect patients, the practice, and go a long way toward supporting operational effectiveness.
Finish The Year Strong
The last quarter of the year present many opportunities for a medical aesthetics business to finish the year strong. However, capitalizing on opportunities do not happen by accident. It takes time and effort. It takes teamwork. It takes strategic thought and planning. Here are some ideas to end the year strong and make this quarter the best finish ever for your business!
One Trick Pony
It is no secret that industry trends can drive business and lead to an increase in demand. However, just as trends can drive up demand and subsequently boost profitability, trends can also have a devastating impact on business. In emerging industries changing demand can lead to volatility, especially for those who are one trick ponies that put all their eggs in one basket. Medical aesthetics is one such industry.
Advertising Brand Names Can Be Bad for Business
Advertising a brand name can be good and bad. If people have a positive opinion about the brand, then you may see a positive response to your marketing efforts. However, the opposite is also true. Before you invest in high-cost technology, do your due diligence. Do not let a salesperson sell you. If it needs to be sold it likely can’t stand on its own merits.
It’s Time To Sweat The Small Stuff
Where our attention goes is where our energy flows. Where our energy flows is where we see true change. By directing our attention to specific areas, we ignite exponential growth. To sustain or enhance outcomes, we must concentrate our efforts. In both business and life, prioritizing what truly matters is essential. Embracing Pareto's Principle and emphasizing the critical 20% that yields 80% of the results can lead to transformative achievements. The key lies in recognizing and nurturing that crucial 20%.
Key Considerations for Successful Med Spa Expansion
Deciding to expand and committing to multi-unit growth is one thing. Knowing when, where, and how to expand effectively is another. If it were easy, everyone would do it. If it were easy, so many that try wouldn’t fail as often as they do. So, how is it done successfully? Here are some thoughts to consider and suggestions for easing your way into it.
Key Considerations when Starting Your Own Med Spa
The medical aesthetics industry is booming and interest is at an all-time high from investors and entrepreneurs alike. Those looking to open a medical aesthetics practice should consider some key factors before diving into such a venture.
The Role of accountability
The medical aesthetics industry has become wildly competitive. With med spas, wellness centers, facial bars, and injectable studios popping up on what seems like every corner, the lines that once separated each are being blurred. What was once considered operationally acceptable is no longer so. Achieving and maintaining operational excellence requires more than just good intentions; it demands a commitment to accountability at all levels, especially from leadership at the top.
What Is B.A.R. Aesthetics?
When Randy Stepp founded B.A.R. Aesthetics (Beauty. Anti-aging. Rejuvenation.) with his partner Beverly Perri, they did so with the belief that medical aesthetics and wellness could be done better by placing the client’s needs at the forefront.
Back To Profitability
Medical aesthetics practices are businesses just like any other. Even though they provide a service that is clinical by nature, they are still a business. If you struggle with the idea that a medically based practice is a business, the odds are you are either not a practice owner or if you are, the chances are your practice is either struggling to stay afloat or stagnant.
Springtime Is Growth Time
Spring not only brings with it great opportunities help clients look and feel their best, but also a chance to boost business while fulfilling your client driven purpose. By helping clients prepare their skin and bodies for summer fun you can also help your practice grow by expanding service offerings to existing clients and acquiring new clients through focused springtime prep and summer ready marketing campaigns.
The Founder’s Dilemma
The founder’s dilemma is this, when is the right time to take on a partner or exit completely, and who is the right partner to do either? Those unfamiliar with all it takes to build and grow a business may not understand the dilemma. However, such a decision is not that easy for a founder who has taken on great risk and poured their heart and soul into nurturing and growing a business that was at one time on outer edges of what now appears to be a no brainer industries.
The Power of a Great Pitch
One of the most important factors contributing to the success of a medical aesthetics practice is the ability to differentiate the practice from the competition. Many practice owners know they are different, but few can effectively articulate what makes them different. Furthermore, even fewer can clearly explain why they are different.
The Culture Difference
Culture is probably the most influential factor when it comes to achieving high-performance. Most practice owners know this. However, many struggle to develop a high-performance culture for many reasons. Some simply do not have the time necessary to nurture a high-performance culture. For others, there may not be a strong appreciation for culture. Others may lack an understanding of what culture is, why it is important, how to develop and nurture it, and how it impacts results.
Smoothing Out The Effects of Overreacting to An Economic Downturn
Is the medical aesthetics industry impacted by recessionary forces? That’s a question that has been asked by many investors and want to be entrepreneurs who are looking to get into the sector. What we have learned recently is that the medical aesthetics industry does experience retraction during recessionary times.
Dissecting The Key Attributes of a Flourishing Medical Aesthetics Practice
A flourishing medical aesthetics practice requires much more than passion, a desire to do good, and the willingness to work hard. While all these traits are necessary and a characteristic of all great organizations, they are table stake attributes. Those that are required to enter the game. It is the next level attributes that separate the good from the great.
Creating A Visionary Culture
While the bottom-line will ultimately determine whether a practice can pursue its vision, it is not excessive focus on the bottom-line that will lead to long-term success. Ultimately, a strong bottom-line is made up from many contributing factors, each of which when managed properly, inject the practice with life sustaining energy. That said, for those looking to build enduring practices, there is one factor that has the greatest influence over the others and is responsible for the fulfillment of the organization’s vision and purpose. It is culture.
The Performance Dilemma: Strong Manager or Charismatic Leader?
There's a common perception that the highest-performing organizations are led by charismatic leaders with big personalities. While this may hold true in Hollywood, it's important to note that in today's world, a Gordon Gekko-type leader would not fare well and likely wouldn't stand the test of time, especially in the aesthetics industry.
Valentine’s Day Marketing Strategies
Valentine’s Day offers many excellent opportunities for a medical spas to engage their clients and help them prepare for this big day. It also offers an opportunity to create unique promotions that are designed to not only drive sales but create memorable experiences.
LET’S TALK LEAD CONVERSIONS
Medical aesthetics practice owners may believe they do a good job at converting prospects to cash paying clients, but when asked about the return on the investment (ROI) of marketing dollars, most fail to know the data or how to effectively manage and convert leads.