| I believe it is fair for me to say that many of the | | | | decide that you could do some combined |
| practices I work with are now feeling some | | | | programming, attend some special events, and |
| effects from this recession. | | | | sponsor an event. Do you see how this works, |
| This is not unexpected as this recession has | | | | and how truly magical it can be to partner with |
| affected every type of business and every size | | | | others? |
| of business. | | | | Rule 3: Close the Gap Between What Your |
| I often find that the most important factor | | | | Customers Need and What You Offer |
| effecting physical therapy practices during these | | | | I think you would be surprised if you asked your |
| economic times is the attitude of the practice | | | | clients what they need from you. To do more |
| owner. I see some practice owner’s waiting | | | | business, it is critical to ask what more they want |
| for it all to go away, while others are fighting for | | | | from you and what they need from you to get |
| every bit of business they can create. This last | | | | back to living their lives as they want. |
| group of practice owner is still doing well. I believe | | | | Your expertise lies in knowing what they need in |
| it is all about attitude. The key choice for you as | | | | the way of clinical services. This is only a part of |
| a practice owner is to be upbeat, positive and | | | | what your clients need. Ask them and find out |
| confident so that you can attract new clients and | | | | what they say. |
| keep your existing clients. When this attitude | | | | Let’s say that you hear from your |
| exists throughout an entire team, I find that client | | | | customers that they really would like to get |
| numbers are stable and even growing. | | | | involved in a swim program to stay limber after |
| I would like to share with you today the 5 rules | | | | their therapy plan is completed. You had never |
| professional services businesses need to learn | | | | thought of this before! So you decide to start one |
| about surviving this recession, as I see them. | | | | yourself or partner with an existing pool |
| The five rules: | | | | program. Now you are meeting the needs of |
| Rule 1: Identify Where the Opportunities Lie | | | | more clients and you have another revenue |
| Look to where the opportunities lie for retaining | | | | source. |
| your existing clients and winning new ones. | | | | Rule 4: Go After Bad Costs |
| Here are examples of potential opportunities for | | | | Remember that not all costs are the same. It is |
| both of these scenarios. | | | | important to distinguish between “good” |
| For retaining existing clients, you need to give | | | | costs and costs that are not helping you grow |
| them the best services you can offer and do this | | | | your practice. You also need to identify what I call |
| consistently. Look for times and places in your | | | | “hidden” costs, those that may not be so |
| practice where this may not be the case. Make | | | | obvious to you. |
| changes in these areas immediately. Your loyal | | | | An example of a good costs is one that helps |
| clients deserve this. | | | | you create a customer journey that your clients |
| One way to succeed in getting new clients is to | | | | value. It will pay off many times over. An |
| make sure your loyal customers know how to | | | | example of hidden costs is when one of your |
| pass the word along to their friends and families. | | | | team members is not a peak performer and may |
| Make it easy for them by giving them referral | | | | be affecting the morale of others. This person is |
| cards to use for this purpose. And just as | | | | costing you money, literally! |
| important, show your appreciation when they do | | | | Put your focus on dealing with the bad and hidden |
| give you a referral. | | | | costs. |
| | | | | Rule 5: Revamp Your Processes |
| Rule 2: Target Your Marketing to Segments of | | | | Consider revamping these four core processes in |
| Your Community Which are Underserved | | | | order to attract new clients, retain existing ones, |
| To do more business, identify who in your | | | | and reduce bad costs: |
| community could significantly benefit from physical | | | | - The customer journey in and through your |
| therapy services and is currently underserved. | | | | practice to make it world class. |
| Next look to partner with other businesses who | | | | - Customer research and communications to |
| serve these same people but with other services | | | | establish how they perceive your services. |
| than yours. This is a great way to reach a new | | | | - Performance management for improved |
| market quickly and easily. | | | | performance of your employees. |
| The keys here are seeking out new markets and | | | | - Business Planning: having a plan! |
| then partnering with other businesses to attract | | | | When you are confident these processes are the |
| them to your services. | | | | best they can be, meaning that each process |
| Here is an example to demonstrate this rule. | | | | meets the needs of your customers very, very |
| Let’s say you uncover that young adults in | | | | well, then you will keep the customers you have, |
| your community are underserved, particularly | | | | they will tell others about their great experience |
| those involved in competitive sports. You also | | | | with you and you will be bringing new people into |
| truly love working with young athletes. You decide | | | | your clinic. |
| to contact some sport associations and sport | | | | Act now on these 5 rules for surviving the |
| coaches to determine how together you can | | | | recession! |
| better meet the needs of young athletes. You | | | | |