I am writing you today because of a phone conversation I had with a coaching clients about two weeks ago. Since that day I haven’t been able get our call out of my mind, mainly because I know there might be other doctors who are in the same mental state as he was in… maybe even you.
Our conversation started off like this…
Me: So what’s your most wanted outcome from your business.
Him: More patients, so that I can make more money.
Me: You know, you can just charge your patients what you are worth and make more money that way
Him: I’m charging the most I can.
Me: Are you the highest priced functional medicine office in your city?
Him: No, I’m middle of the road. A few others charge more than me, and some charge less.
Me: So there is room to raise your prices.
Him: Well, yes.
Me: Why is it that you don ‘t think you can change more for your services when other similar offices do?
Him: My demographic can’t afford to pay more.
Me: Who is your demographic? What do you specialize in? What’s your niche?
Him: It’s really anyone who wants nutritional and wellness advice. I don’t actually have a “niche”.
Me: if you could treat any type of person or only specialize in a specific outcome for your patients, what would it be?
Him: (he came alive!) I’d treat chronic fatigue and hormone imbalance! I see these conditions regularly, and have good experience with these types of patients.
Me: That’s your niche my friend! Your entire marketing message should be “if you want to improved energy and hormone balance through energy boosting drinks and hormone pills then there are lots of options in our town for you. But if you want to achieve steady, regular energy and TRUE hormone balance naturally without drugs, pills, or stimulants, I am your doctor. I can help you achieve energy and restore hormone balance, because I look at the root cause of your problem instead of masking your symptoms with pills.”
That marketing message would do three things for you…
- You’d create your own category and make competition irrelevant.
- You’d only attract the type of people that you want to treat and who would be more likely to comply to treatment.
- Because it’s what you’re most passionate about, you’d make more money… which is what you mentioned you wanted at the start of our call.
Him: (silent for a few long seconds)… Okay, I get it. What do I need to do next?
We laid out the game plan for him and he’s been hard at work since. But, you might be stuck looking for ways to get new patients too… or to make more money… or just to cut back on your working ours so you can actually have a life.
The average doctor in the United States makes about 150,000 a year.
That’s only $12,500 a month.
That’s not a lot of money at all. Especially considering the liability risk involved. Heck even twice that isn’t going to go far these days…
And that’s why I wanted to talk to you about this today.
Look, if you want more money, more income and higher profits then the secret is not always to get more patients. In fact, in some cases getting more patients will only put you under greater stress and hardship if you’re not prepared to handle and service the volume. On top of that, functional medicine clinics aren’t designed for super high volume, so adding too many patients can actually be counter productive to your practice. It’s really about figuring about what you want from your practice and reverse engineering it. That is an element that most doctors don’t think about.
He charges cash for services as rendered. He sees about 24 patients per week.
He loves to sleep in. He loves to hike and fish. He doesn’t want the headache of more than 2 employees. He doesn’t have a family to support, and he’s fine making around $20,000 per month.
He’s fine with all of that.
That’s what he’s passionate about, that’s what he’s good at and that’s exactly what he wants to be doing… 9:00 AM to 5:00 PM on Mon, Tues, and Wed.
It’s not something I could do…
I’d want more to see more patients, make more income, and to do that I’d hire one or two more staff, increase office hours, and take on more new patients so that I could double my earnings
But that’s not what he wants.
And so he’s happy with what he’s got.
He’s following his passion. And that’s the factor that determines if you’ll make it big or crash… if you’re happy with what you do or if you just feel like
a hamster on a wheel.
Because success and money follow passion. It’s never the other way around, and if you want to make a lot of money in the functional medicine niche, you’ve got to be passionate about what you do, the market you serve and the “thing” you specialize in, because sooner or later you’re going to encounter “the wall”; hardships, challenges, and obstacles and that’s when a practice is either going to falter or flourish.
All practices hit “the wall” at some point… in fact, several times a year you might hit the wall. That’s just life and that’s the nature of doing business. Sooner or later you’re going to encounter something that stops you, annoys you, or holds you back…
- A bad patient.
- A bad business partner.
- A competitor who talks down about your office to mutual patients.
- A larger than expected tax bill.
There is always a “wall” hiding somewhere. Passionate functional medicine doctors welcome “the wall”, because they know that when they get to the other side of it, they’re going to be in a better place. Money and success follow passion, and passion is what get’s you through the walls in life. It’s a simple equation.
So why don’t you take some time later today or first thing tomorrow morning and figure out what your most desired outcome is from your practice. Build your most wanted outcome around your passion, and take massive action on it every day. Let nothing stop you from achieving it. And when you encounter a wall… and you will, you can welcome it because your passion will get you through it every time.
Committed to your success,
No matter what your niche and the market you serve, if you’re in the business of functional medicine – and I assume that you are because you get my emails, then you’ve got to be the best at marketing your message and selling your programs.
This is the program that will make you a better functional medicine marketer. <==