14 min
Is Your Practice Built to Sell? Beauty and the Biz
-
- Marketing
Hello, and welcome to Beauty and the Biz where we talk about the business and marketing side of plastic surgery and ask the question of "is your practice built to sell". I’m your host, Catherine Maley, author of Your Aesthetic Practice – What your patients, are saying as well as consultant to plastic surgeons, to get them more patients and more profits. Now, today’s episode is called “Is Your Practice Built to Sell?”.
Is your practice worth anything to anyone else who could be interested in buying it?
Maybe. Maybe not.
Some surgeons have given up on the notion of selling their practice for a hefty profit because they don’t believe it’s possible.
But is that true? It’s only true if you believe it.
There’s still time to change your mind on that and build your practice to be a sellable asset that you exit strategically.
This week’s Beauty and the Biz Podcast talks about what is needed for others to see your practice as an investment in their own future.
Actually, it’s more straight forward than you may think.
Enjoy!
📲 P.S. If you’re thinking about making a change and could use a different perspective, let’s talk. Schedule a Free 30-Minute strategy call with me at: https://www.catherinemaley.com/apply/
✔️ STAY UPDATED!
Website: https://bit.ly/31O4DHp Blog: https://bit.ly/31HmEHx Podcast: https://bit.ly/3DMIHJN Videocast: https://bit.ly/3DNLjXL Apple Podcasts: https://apple.co/3pGyY2o 🤝 LET'S CONNECT! 🤝
Instagram: https://bit.ly/3GynMvz Facebook: https://bit.ly/3IJxL35 Twitter: https://bit.ly/3GxJUGy LinkedIn: https://bit.ly/3lWoYRM
Transcript:
Is your practice built to sell?
Catherine Maley, MBA: Hello, and welcome to Beauty and the Biz where we talk about the business and marketing side of plastic surgery. I'm your host, Catherine Maley, author of Your Aesthetic Practice - What your patients are saying, as well as consultant to plastic surgeons, to get them more patients and more profits. Now today's episode is called Built to Sell.
And the reason this came up is because. It's I've been talking to a large group of surgeons who have been in practice 20 years or more. And they're thinking about their extra strategy, by the way, the time to ponder this is now no matter how long you've been in practice, because it can take years to turn your practice into a sellable asset.
And if nothing else, at least you'll have a practice you enjoy for the rest of your career because the alternative. You don't do anything to improve your practice, but then you've got to know you've only created a job for yourself now. That's not a bad thing if that's what you want, but the goal is to be sure you're clear what you're working towards.
So, you're satisfied with the outcome. Now, since you've already mastered surgery, let's master the business side of surgery. That is what catapults you to success and a more certain future that gives you more options. So, all of this starts with mindset as always. So as a surgeon, you were programmed to think in a certain fixed way, and you had to think that way to become a great.
However, that thinking is the opposite of how a business person thinks. For example, you most likely put more value on you as a surgeon versus growing your staff and your systems, and you most likely work in your practice rather than work on your practice. Now, Michael Gerber explains it well in his excellent book.
The E-Myth. Why most small businesses don't work and what to do about it. I highly recommend you read that. Now, basically he says to run a successful business or practice, you need three key players. You need the entrepreneur to come up with new ideas, to keep up with the times. Then you need the manager to set up the processes and people.
So, things run smoothly, and then you need the technician to actually do the key work that makes a profit. So, in a cosmetic practice, you, the surgeon is. But you're also juggling the jobs of the entrepreneur and t
Hello, and welcome to Beauty and the Biz where we talk about the business and marketing side of plastic surgery and ask the question of "is your practice built to sell". I’m your host, Catherine Maley, author of Your Aesthetic Practice – What your patients, are saying as well as consultant to plastic surgeons, to get them more patients and more profits. Now, today’s episode is called “Is Your Practice Built to Sell?”.
Is your practice worth anything to anyone else who could be interested in buying it?
Maybe. Maybe not.
Some surgeons have given up on the notion of selling their practice for a hefty profit because they don’t believe it’s possible.
But is that true? It’s only true if you believe it.
There’s still time to change your mind on that and build your practice to be a sellable asset that you exit strategically.
This week’s Beauty and the Biz Podcast talks about what is needed for others to see your practice as an investment in their own future.
Actually, it’s more straight forward than you may think.
Enjoy!
📲 P.S. If you’re thinking about making a change and could use a different perspective, let’s talk. Schedule a Free 30-Minute strategy call with me at: https://www.catherinemaley.com/apply/
✔️ STAY UPDATED!
Website: https://bit.ly/31O4DHp Blog: https://bit.ly/31HmEHx Podcast: https://bit.ly/3DMIHJN Videocast: https://bit.ly/3DNLjXL Apple Podcasts: https://apple.co/3pGyY2o 🤝 LET'S CONNECT! 🤝
Instagram: https://bit.ly/3GynMvz Facebook: https://bit.ly/3IJxL35 Twitter: https://bit.ly/3GxJUGy LinkedIn: https://bit.ly/3lWoYRM
Transcript:
Is your practice built to sell?
Catherine Maley, MBA: Hello, and welcome to Beauty and the Biz where we talk about the business and marketing side of plastic surgery. I'm your host, Catherine Maley, author of Your Aesthetic Practice - What your patients are saying, as well as consultant to plastic surgeons, to get them more patients and more profits. Now today's episode is called Built to Sell.
And the reason this came up is because. It's I've been talking to a large group of surgeons who have been in practice 20 years or more. And they're thinking about their extra strategy, by the way, the time to ponder this is now no matter how long you've been in practice, because it can take years to turn your practice into a sellable asset.
And if nothing else, at least you'll have a practice you enjoy for the rest of your career because the alternative. You don't do anything to improve your practice, but then you've got to know you've only created a job for yourself now. That's not a bad thing if that's what you want, but the goal is to be sure you're clear what you're working towards.
So, you're satisfied with the outcome. Now, since you've already mastered surgery, let's master the business side of surgery. That is what catapults you to success and a more certain future that gives you more options. So, all of this starts with mindset as always. So as a surgeon, you were programmed to think in a certain fixed way, and you had to think that way to become a great.
However, that thinking is the opposite of how a business person thinks. For example, you most likely put more value on you as a surgeon versus growing your staff and your systems, and you most likely work in your practice rather than work on your practice. Now, Michael Gerber explains it well in his excellent book.
The E-Myth. Why most small businesses don't work and what to do about it. I highly recommend you read that. Now, basically he says to run a successful business or practice, you need three key players. You need the entrepreneur to come up with new ideas, to keep up with the times. Then you need the manager to set up the processes and people.
So, things run smoothly, and then you need the technician to actually do the key work that makes a profit. So, in a cosmetic practice, you, the surgeon is. But you're also juggling the jobs of the entrepreneur and t
14 min