Niche Markets FAQs Part 1 of 2: Basics

This is the 4th of a five-part Facebook Live series on topics related to business development and strategic planning.

Many of my clients are independent healthcare practice owners who have trouble growing their business in a healthy way. I find that practitioners often struggle to attract patients who fit their philosophy and goals. Not every customer is Ideal; some potential customers can actually take value away from your business.

The best way to attract the right customers—those who are interested in your services and eager to pay for the value you provide—is to focus on a Niche area. This is a specific set of services or products that meets the needs of your Ideal Customers and solves their unique problems.

Watch my Facebook Live video, where I discuss ways to increase the effectiveness of your business, and how to stand out in the marketplace. Or read a transcript (including bonus content!) below.

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How to Create an Ideal Customer Bubble Graph

Today, I want to share a really useful tool that can help you identify your best customers. It’s called the Ideal Customer Bubble Graph.

This is a great way to know which of your customers are Ideal—individuals who have following qualities:

  • They generate the highest profit margins,
  • They give you the fewest problems,
  • They align closely with your philosophy, and
  • They help your company to move toward its strategic goals.

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Company Culture FAQs Part 3 of 5

In part 3 of the series about Frequently Asked Questions on creating a sustainable Company Culture, we discuss the benefits and downsides of social media.

I’ll also share my secret to finding balance as a business owner.

Watch the recorded video here, or reading bonus-filled content below.

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What to Do When You Realize Your Customer Is Not a Good Fit

Customer service is a critical part of growing a healthy business. Every successful business owner creates an environment that attracts and serves the needs of Ideal Customers, regardless of her or his personal preferences.

But what happens when a customer is not a great fit for your business? What should you do?

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How to Think of New Content for Your Healthcare Practice Blog

I specialize in helping business owners (especially natural health practitioners) to identify their goals, prioritize tasks in order to grow their business, and create a balance so they feel more in control.

Today I want to answer a question that has come up a few times lately with several of my clients:

“How do I know what type of content to write in my blog?”

and

“Am I sharing the right type of information for my patients and people I want to serve?”

Watch the video, or follow along with a written version below.

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2017: My Business Year In Review

Conducting a “year in review” process is incredibly helpful.

But it can also be excruciating, because looking back at the good & bad of the past year forces us to confront uncomfortable realities. It serves as a window to evaluate goals, examine priorities, and identify where we’ll focus our energy in the coming year.

In this post, you will hear how my Year In Review has strengthened me as a business owner. I’ll share what happened for me professionally in 2017, what worked and what didn’t, and some lessons learned.

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5 Reasons to Share a “Year In Review” of Your Business

Facing the good and bad of the past year takes courage, especially in re-living painful experiences. But self-evaluating the highs and lows in your past year is just the first step.

Sharing your findings with the entire world takes it to a whole new level.

In this post, I’ll talk about the benefits and downsides of making your Year In Review public, and why we’re afraid to fail.

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How to Do a Year In Review

It’s that time of year… to review whether you have reached your goals!

As a business owner, you may feel ready to leave last year behind and move forward—especially if you’ve experienced failure: Disappointing sales, high staff turnover, unpaid invoices, frustrating delays, or negative outcomes.

financial crisis, downward trend, low profits, decreased revenue, bad results

But we shouldn’t avoid talking about failure. It may be easier to talk about happy things, but there are just as many (if not more) reasons to review the unpleasant ones.

In this post, I’ll explain the benefits of using a Year In Review, and how to start.

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A Letter to My Business Mentor: From Fear to Confidence

I recently had a great e-mail exchange with my long-time mentor, who is the CEO of an engineering company in the US Midwest.

He asked me how things are going.

Here was my response:

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11 Compelling Reasons to Niche Your Healthcare Practice

Have you ever whittled a stick before? When I was 8, my grandfather taught me how to carve wood in his workshop. For weeks, my favorite pastime was finding a nice block of wood, chopping off the bark, smoothing it down, and cutting off all the excess pieces until a final image appeared.

If you’ve ever watched a master woodcarver or ice sculptor, you know how it feels to see an ordinary object transform into a work of art.

Every natural health practitioner has the opportunity to serve a very specific, clearly defined group. Instead of meeting all needs and conditions for a vast number of people, niching your practice allows you to be selective. When you “whittle down” to just a handful of options (thus avoiding the Paradox of Choice), people actually start to pay more attention.

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