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How attorneys and physicians can increase their income
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With 27 years of business experience, I am flummoxed when I discover that many attorneys and physicians obtain miniscule business training. Lawyers and doctors are the most entrepreneurial groups in history. Many of our nation’s forefathers were practicing attorneys when helping to liberate America; more important, they were business owners.
I believe it incomprehensible that attorneys and doctors can build a thriving practice without some proper business tools. My work with both groups helps them to dramatically increase their waiting room attendance and thus significantly amplify revenue.
Referrals. Most business professionals, but most notably doctors and lawyers, do not use this technique enough. In recent research for a new book, we found that 84% of our focus group did not request referrals from existing clients. Referrals are the best sources of income. When existing customers pronounce your greatness, you must seek referrals. Most important, the cost of acquisition through referrals is 60% less than with regular marketing. Think of this: when was the last time you sought a physician or lawyer from the Yellow Pages?
Networking. One client—a chiropractor—invests networking time at chamber meetings and other business events. When people know you, they trust you, and when they trust, they refer you.
Sharing Expertise. Lawyers and doctors have incredible expertise. The most renowned write articles, speak at conferences, offer clinics and seminars, and create blogs and web pages. These are marketing techniques that create brand awareness. These inexpensive tools showcase your expertise, and help fill your schedules with little time or effort.
Customer Service. The key differentiator is customer service. Customers desire empathy and expediency. The manner in which receptionists answer calls, return calls, and respond to questions creates the customer experience. Review your office practices and make alterations that cost little in time but provide a tremendous return on investment.
Little time or effort on your part are required to make subtle changes for big gains. If you seek a crowded waiting room, less concern for monthly bills and an alleviate of business stress, then take the time to alter your game plan and make your competitive move for the inside track.
© 2008. Drew J. Stevens. All rights reserved.
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