After starting multiple businesses and consulting on many more, I’ve discovered there are only 3 real ways to grow a business.
In fact, one of the highest-paid marketing consultants on the planet confirmed this for me, Jay Abraham, also know as the $21.7 billion dollar man.
Jay says these are the only 3 business activities you must focus on to truly create the income you want for yourself.
If you’re not getting the traction you want, if you’re not getting the number of new patients you want, and if you’re not creating the income you want…
Then stop everything you’re doing and focus on these instead:
This is the lifeblood of ANY practice or business no matter what industry you’re in… especially if you’re a dentist. Without a steady flow of new patients, you’ll struggle to build a successful practice.
This is also where most get stuck and eventually fail. They never “crack the code” or create a sytem that generates new patients predictably.
If you want to solve this problem in your own practice, you just need to focus on these three things:
(If you want help figuring these out for yourself, I’ll tell you how to do that in just a moment.)
The easiest way to achieve this is to you raise your price.
In a perfect world, if we double your price we double your business right? Well we don’t live in a perfect world unfortunately. There’s a lot of advice online right now blindly telling you to “raise your price!”… but if you don’t do it correctly, then it will hurt you more than it will help you.
You must do this strategically.
Two of the best ways to accomplish this are
Focusing on retention and repeat business is profitable, enjoyable, and it reduced the stress of constantly “hunting” for new patients.
Now let’s look at how these three strategies work together to create exponential and geometric growth in your practice.
First, how do we calculate what a patient is actually worth to you? Plug the numbers into this formula:
Multiply these metrics to get your answer. Let’s do an example, a new patient comes in for a set of Invisalign.
We already know they’re gonna spend this much money over a period of 12 months and considering that the dentist will do an amazing job they more than likely will stick around for a few more years, right?
How many times is that patient gonna refer someone to you, let’s say worst case scenario you get one referral off the back of this.
Now one patient has brought you a total of $10,000.
When you optimise just one of the variable, growth will be linear. But when you optimise 2 or 3 of the variables at the same time, your growth will be exponential because you’re creating leverage.
This is where a breakthrough happens and is completely possible to engineer for yourself if you focus on the right business-building tasks.
Remember, this is the FIRST and one of the most important ways to grow your practice. If you don’t have a system in place to get new patients in at will, then you’ll constantly struggle to create the income that you want.
So if you’re running a practice right now and you’re struggling to get off the insurance treadmill, we can help you drive more high paying cash patients.
We’ll help you discover your perfect positioning, create the right offer, and possibly double your monthly profits in 42 days or less. You’ll finally get a higher calibre of patient without chasing them or burning yourself out in the process. This is for the practice owner who wants to generate enough income to serve and impact at a higher level.
To learn exactly how just click here!