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People and companies will spend less, not only in the next two years but for a decade, simply because there is less money.
The piggy bank, called your home, is depleted for literally everyone and it was this phenomenon of taking out a second mortgage which kept America spending for elective healthcare and of course all other luxury goods and services
The dollar will be rather devaluated in just a few years, inflation or deflation will hit and people will not buy products and services in any great amount for a decade to come.
The best investment of all times ever always has been in oneself.
Learn how to provide something people need and want and then learn how to market is well – better than the competition.
Even our current richest man Bill gates has done just that.
So has Mr. Warren Buffet.
Those two and hundreds of thousands of similar successful people have done just that ever since Buddha and Jesus Christ.
Look at Colonel Sanders from KFC, or Walt Disney.
I can show you a host of dentists or restaurant owners who might have money in the real-estate market by first owning their own home, then their business or practice real estate , a second one , a third one etc – but all ONLY and ONLY because they made some money with their practice or business.
Look at it this way:
If you have let’s say $30,000 to invest in anything – what do you get in return if things go super well?
Let’s assume you get 30% of return in a year. Quite impossible at any time, especially now –but let’s go with this ridiculous 30% high return.
In a year you will have made a whopping $9000. That’s only $750 a month. I can make more begging on the street.
Leave the money in it and make another $11,700 next year. (30% of $39,000)
This means you had to have $30,000 saved away to make $20,000 in two years at an impossible 30% return.
Six percent per year and a profit of $4000 in two years is more likely in any market!
Now what about if you invest $30,000 over a year in you practice via marketing?
Do you think you will get at least one new patient every week if you invest $600 in marketing every week? ($ 30,000 a year)
You will make that literally for sure — if you know just a bit about marketing – only a bit.
If you know how to NOT toot your own horn (advertising) but learn how to give a mega phone to hundreds of influential people in your community who then will shot your name in some fashion or another you will get many, many more than one new patient per week.
And what is one new patient worth to you?
How much is a patient worth over a life time – which is usually about 3 to 5 years?
A low number would be $1500 and an average across the country is $2500.
Ok, let’s say $1800 only. That is $1200 of actual gain in a couple of months if you only get one patient with this investment and if you only sell him $1800 of service.
Three, five and even ten patients are not out of the question at all from a well-synchronized and synergetic marketing campaign.
One of the best part of this is that you really never need to save up ALL the $30,000 in the first place which for most people and even doctors, is the difference of being able to “invest “in the first place.
Do what real successful people do – they believe in themselves and their ability to provide and sell a product or service.
You doctors do have a product or service which is needed.
The first thing you, the doctor, need to do is to stop being dependent on the insurance companies by learning to successfully attract the 20 % – 30 % of people who still have and pretty much always will have some money to spend.
There is no other way out for you – not as I see it and the writing is on the wall!
I know you have been told that once you are a doctor, life will be just fine – well that is NOT so.
You have been lied to – times have changed and if you do not become the best in your profession and then the very, very best in marketing, your receptionist will make more than you at any time – and no, you won’t find a job which pays much more than that of a receptionist by working for some other doctor!
Become a master of marketing or forfeit your financial future.
Not marketing is like not showing up for a court date or a foot ball game – you lose by default!
Marketing is NOT advertising.
You must learn how to get the community to actively support you as a person and as a professional – or you will never again have the money to market enough.
Did you know what the most expensive marketing campaign you ever, ever did?
It was when you signed up with the insurance companies and sold your soul.
No – absolutely no marketing – and I mean the worst of advertising you could engage in, or the worst of all marketing consultants out there — would be as expensive as what the insurances are charging you in form of discounted fees. (Never mind that they tell you what treatment you can do or not!)
Think you cannot afford marketing? Think again. You cannot afford to have NO marketing in your practice!
Get effective new patient marketing tools for less than 55 cents a day
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