Why are we in this business? Before starting a cosmetic practice or before expecting a major turnover, we need to analyze why we are in this business. The aim may be to become ‘the most preferred cosmetic treatment destination’, the biggest laser center in India, the finest cosmetic clinic of my town etc. First check with yourself whether you have the sincere desire to start a great business. Do you really like to be in this field? You have to make a personal mission statement and one organizational mission statement. This will give you a constant reminder of your bigger cause of being in this business. What am I? Identify yourself. Will I be practicing general dermatology? Or cosmetic dermatology? Only injectable cosmetology? Mainly hair transplantation? Or all inclusive cosmetic dermatology? What is my USP? Big set up? Latest machines? My national international accreditations? Experience? This is how I will decide my offerings to my customers. Who is my target customer? Decide which group of population I will be catering to? Metro, non-metro? Young, middle aged? Rural, urban? Internet savvy or non-techy? Some market research is needed. Know how my customers primarily gather their information. Newspaper, TV, clubs, internet or family doctor. Understand their needs. It is the price or time or ambience they will be ready to pay for? What you want? The Strategic business plan Once you know why you are in this business, you have to write a business plan. A typical plan has a long term goal, mid term goal and a short term goal. Long term goal is what you want to achieve in next 10-30 years. The mid term goal is your 3 year plan and short term goal is next year plan. This one yeartarget has to be broken into quarterly and monthly format. Once you have your dream in term of numbers, you are ready to chase it. Check whether the goal is realistic and, achievable. Design a wholesome experience How do we feel after a dinner in a five star hotel, after watching a movie? What exactly make us feel that? This take home feeling by a customer after visiting you is called as the wholesome experience. Feel of your website, the fine ambience, front desk staff interactions, quality of forms and printing materials, experience of consultation and procedure, these all will should not bedoctor practice requires understanding of the growth components. Some of key components in business growth are Multiple locations Multiple dermatologists Multiple services Dynamic business development plan A strong staff recruiting and HR policy Quality ans SOPs Managing multiple clinics Managing multiple clinics is a skill different than practicing in a single location. Try out initially with multiple attachments, one or more satellite clinics. Getting initial experience of handling a clinic in our absence is a great learning experience in itself. It gives great insight into people handling. Quality and SOPs Quality is fulfilling the delivery to the expectation of clients. Patients, staff and government regulatory bodies are internal and external clients. Fulfilling their expectations is the Quality management. The key step in quality is defining standard operating procedure SOPs for every activity in your clinic like opening of clinic, closing, telephone call answering, way of doing treatments. Having a definite SOP is a single most important growth engine. A typical business development strategy at SkinCity Strategy is a 3 year, 1 year and quarterly plan with measurable objectives. Here is a sample 1 year strategy. The figures and number are arbitrary for illustrative purpose only. Vision statement To transform the lives of people by providing them innovatinve soultions and making them happy, healthy and confident. Last year’s business: 5 Crore Target for this year (ending at march 2012): 7 crore Break up of target as per source Old patient referral News paper Internet Hoardings Break up as per centers Clinic 1 Clinic 2 Clinic 3 Mobile laser clinic Break up by services Hair transplantation and Mesotherapy Vitiligo Nonsurgical cosmetology Cosmetic surgery and liposuction Training New development in next one year New clinics – 2 locations New treatment addition- endovenous laser New team added – sales marketing team, dermatologists New distribution channel like tele dermatology Marketing budget ---xyz amount Follow up of business plan Break target into quarterly and monthly figures. Chess it by weekly review meetings. Make list of actionable points and keep on reviewing. How will I learn the business development skills? Do I need to go to a business school or seek MBA to grow my business? Definitely not. You yourself are the most appropriate person to run your business. What you need is knowledge and professional help. Keep updated with gross knowledge of basic business skills. Highly skilled professionals are available around you a salary cheque or consultancy fees away. What we need to learn is how to handle these people more intelligent than us. Visiting, learning from our successful colleagues gives invaluable insight. Let us share with each other learn together to grow in this rapidly growing aesthetic considered separately. Each and all of these will contribute to what is called as ‘the wholesome experience’ by the customer. The set up The three important key factors in success of an aesthetic practice are, location, location and location. This is the single most important factor that determines the success or failure of your practice in long term. A good looking and pleasant ambience, smooth patient flow are the key consideration in designing. My ‘rule of thumb’ is book or acquire a space at least 50% bigger than your requirement. It is invariably some future expansion of a new treatment that will demand more space. The people The right talent for appropriate role has to be hired. Medical staff like dermatologists, houseman’s, nurses, technical personnel like operators, technicians and administrative people like clinic managers, front desk staff or housekeeping staff are the key requirements. In USA a consumer survey was made to find out which factors will influence the decision of aesthetic clients to choose or reject a doctor or clinic. It was observed that visual impression of clinic has an impact of 55%, interaction with staff will affect 38% while talking to the doctor will have impact of 7%. Patients’ decision whether to take treatment from you or not is almost (93%) finalized before the patient sees your face. Another observation was 68% of clients switched their treatment to other clinic was due to misbehavior of staff. In summary your ambience and staff is all that will make or break your practice in long run. Marketing: reach out to your customers! Brand your practice than being generic like Dr. so and so’s clinic. Branding your clinic more than yourself is a single most important factor, when it comes to expansion to multiple locations or multiple branches. Make budget and fix time line. Decide which media, which newspaper and which campaigns will help you. Our typical marketing plan Source wise budget distribution Internal cross selling – 10% Hoardings – 25% English newspaper – 20% Local newspapers 5% CME and doctors meetings 5% Pamphlet’s and field activities 5% Internet, Google marketing&Facebook marketing 30% Department wise budget distribution Lasers and cosmetology- 20% Hair transplantation and Mesotherapy – 50% Vitiligo – 10% Body shaping and Liposuction 10% Birth marks -5% Training courses 5% The business development or growth Achieving a business or a profit that is otherwise not possible for a singledoctor practice requires understanding of the growth components. Some of key components in business growth are Multiple locations Multiple dermatologists Multiple services Dynamic business development plan A strong staff recruiting and HR policy Quality ans SOPs Managing multiple clinics Managing multiple clinics is a skill different than practicing in a single location. Try out initially with multiple attachments, one or more satellite clinics. Getting initial experience of handling a clinic in our absence is a great learning experience in itself. It gives great insight into people handling. Quality and SOPs Quality is fulfilling the delivery to the expectation of clients. Patients, staff and government regulatory bodies are internal and external clients. Fulfilling their expectations is the Quality management. The key step in quality is defining standard operating procedure SOPs for every activity in your clinic like opening of clinic, closing, telephone call answering, way of doing treatments. Having a definite SOP is a single most important growth engine. A typical business development strategy at SkinCity Strategy is a 3 year, 1 year and quarterly plan with measurable objectives. Here is a sample 1 year strategy. The figures and number are arbitrary for illustrative purpose only. Vision statement To transform the lives of people by providing them innovatinve soultions and making them happy, healthy and confident. Last year’s business: 5 Crore Target for this year (ending at march 2012): 7 crore Break up of target as per source Old patient referral News paper Internet Hoardings Break up as per centers Clinic 1 Clinic 2 Clinic 3 Mobile laser clinic Break up by services Hair transplantation and Mesotherapy Vitiligo Nonsurgical cosmetology Cosmetic surgery and liposuction Training New development in next one year New clinics – 2 locations New treatment addition- endovenous laser New team added – sales marketing team, dermatologists New distribution channel like tele dermatology Marketing budget ---xyz amount Follow up of business plan Break target into quarterly and monthly figures. Chess it by weekly review meetings. Make list of actionable points and keep on reviewing. How will I learn the business development skills? Do I need to go to a business school or seek MBA to grow my business? Definitely not. You yourself are the most appropriate person to run your business. What you need is knowledge and professional help. Keep updated with gross knowledge of basic business skills. Highly skilled professionals are available around you a salary cheque or consultancy fees away. What we need to learn is how to handle these people more intelligent than us. Visiting, learning from our successful colleagues gives invaluable insight. Let us share with each other learn together to grow in this rapidly growing aesthetic and wellness industry

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