19 min
MAX Your Practice Worth — with Catherine Maley, MBA Beauty and the Biz
-
- Marketing
📲 Schedule your free 30-min strategy call with Catherine https://bit.ly/3D513rs
📖 Restart your practice in 7 days https://bit.ly/46Gwaaa
⬇️ ⬇️ ⬇️
Hello, and welcome to Beauty and the Biz where we'll talk about how to max your practice worth. To be sure, we'll also discuss the business and marketing side of plastic surgery, in general
Indeed, I’m your host, Catherine Maley, author of “Your Aesthetic Practice – What your patients are saying”. Also, I'm a consultant to plastic surgeons, to get them more patients and more profits.
Presenting today’s episode titled, “MAX Your Practice Worth — with Catherine Maley, MBA ”. This podcast is for you if you’ve been in practice for a few decades or only a few months and everyone in between because if you don’t figure out the ever-changing business landscape, you’ve only created a job for yourself.
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 and when it’s time to grow and/or exit.
I would think your overall objective is to set up your cosmetic surgical practice so it’s more profitable, more enjoyable to go to every day, and it frees up your valuable time so you have more of it to spend doing what you like, with the people you most enjoy being with.
I’ll start with a quote from Ralph Waldo Emerson, who said:
“Unless you try to do something beyond what you have already mastered, you will never grow”.
You already mastered surgery so the next step is to master the business and marketing side of surgery.
THAT is what catapults you to success and a more certain future.
However, that is the very thing that holds you back….the surgery. You went through hell to become a surgeon and you’re good at it. But you soon realize being a good surgeon isn’t enough.
It takes business and marketing finesse to build a busy surgical practice.
But in a cosmetic practice, you, the surgeon are the technician performing the surgery, but you’re also juggling the jobs of the business owner, visionary, and manager and that takes different skill sets. It’s also not a good use of your time and it will not get you to your financial goals.
So we’re going to change that up for you because when you set up systems, you and your staff get clarity. And when you remove the complexity, results happen because “Money is Made in the Processes”.
So, here are the main success principles to focus on to get your practice off the ground, grow it year after year and weather the storms along the way:
Success Principle #1 on how to max your practice worth: Build a Team of Rock Stars Hiring the right team for your practice will be your biggest challenge but also your greatest asset. Because it’s all about the WHO.
Jim Collins, Author of Good to Great) says:
“The most important decisions that businesspeople make are not
“what” decisions, but “who” decisions.
What typically happens is surgeons want to fix the staffing problem quickly so when a staff person leaves, you have a tendency to hire fast to fill the position but then you have to deal with bad hires who don’t fit your values or your culture. And, you know all too well what bad hires cost you:
You can’t rely on them; They are adding stress to your day and maybe even your
📲 Schedule your free 30-min strategy call with Catherine https://bit.ly/3D513rs
📖 Restart your practice in 7 days https://bit.ly/46Gwaaa
⬇️ ⬇️ ⬇️
Hello, and welcome to Beauty and the Biz where we'll talk about how to max your practice worth. To be sure, we'll also discuss the business and marketing side of plastic surgery, in general
Indeed, I’m your host, Catherine Maley, author of “Your Aesthetic Practice – What your patients are saying”. Also, I'm a consultant to plastic surgeons, to get them more patients and more profits.
Presenting today’s episode titled, “MAX Your Practice Worth — with Catherine Maley, MBA ”. This podcast is for you if you’ve been in practice for a few decades or only a few months and everyone in between because if you don’t figure out the ever-changing business landscape, you’ve only created a job for yourself.
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 and when it’s time to grow and/or exit.
I would think your overall objective is to set up your cosmetic surgical practice so it’s more profitable, more enjoyable to go to every day, and it frees up your valuable time so you have more of it to spend doing what you like, with the people you most enjoy being with.
I’ll start with a quote from Ralph Waldo Emerson, who said:
“Unless you try to do something beyond what you have already mastered, you will never grow”.
You already mastered surgery so the next step is to master the business and marketing side of surgery.
THAT is what catapults you to success and a more certain future.
However, that is the very thing that holds you back….the surgery. You went through hell to become a surgeon and you’re good at it. But you soon realize being a good surgeon isn’t enough.
It takes business and marketing finesse to build a busy surgical practice.
But in a cosmetic practice, you, the surgeon are the technician performing the surgery, but you’re also juggling the jobs of the business owner, visionary, and manager and that takes different skill sets. It’s also not a good use of your time and it will not get you to your financial goals.
So we’re going to change that up for you because when you set up systems, you and your staff get clarity. And when you remove the complexity, results happen because “Money is Made in the Processes”.
So, here are the main success principles to focus on to get your practice off the ground, grow it year after year and weather the storms along the way:
Success Principle #1 on how to max your practice worth: Build a Team of Rock Stars Hiring the right team for your practice will be your biggest challenge but also your greatest asset. Because it’s all about the WHO.
Jim Collins, Author of Good to Great) says:
“The most important decisions that businesspeople make are not
“what” decisions, but “who” decisions.
What typically happens is surgeons want to fix the staffing problem quickly so when a staff person leaves, you have a tendency to hire fast to fill the position but then you have to deal with bad hires who don’t fit your values or your culture. And, you know all too well what bad hires cost you:
You can’t rely on them; They are adding stress to your day and maybe even your
19 min