The three main areas of any business are finance, marketing and operations. They either work together synergistically for success and profitability – or they do not! After working with thousands of elective medical practices, as well as owning and operating my own medspa, I have identified five key initiatives for building a successful medspa in today’s environment.
Every hour spent on consultations is time that could be spent on treating patients and generating profit. Imagine doing 33 consultations in one evening with an outcome of 27 appointments.
Even established, successful practices can have a hard time introducing and selling new products in today’s information-saturated world. Consumers are bombarded with services, discounts, offers and promotions for things they may or may not need everywhere they look. So, how do you get through to them? What will make them choose your product or service over the rest? What if you tried giving it away for free?
We’ve worked with more than a thousand physicians in the aesthetic industry over the past decade, and it has become very clear that there are three key areas of strategy required for growth and profit: finance, operations and marketing.