The entrepreneurial physician's secret marketing weapon is "No"

"I don't know the key to success, but the key to failure is trying to please everybody." -- Bill Cosby

What happens to you when you picture turning a potential client or patient away?

How do you feel about deliberately excluding prospective customers from your business?

Maybe uncomfortable. And nervous, I bet.

Why would I bring up such a crazy idea?

Because it works!

When I first hung up my shingle as I coach, I knew I could coach anyone who wanted it, irrespective of their industry or goals. Such is the power of the tools I've been trained to use. And my marketing message was equally broad as I was trying to attract everyone.

Now, I was fortunate enough not to fail, but I certainly didn't thrive - it was an uphill battle trying to reach and convince everyone. But I was too afraid to turn away business, even if it wasn't an ideal match for my knowledge and skill set.

It was only in year three of being in business that I began to really hear what others had been telling me for ages - "you need to find a narrow niche". In other words, I needed to be mentally ready to say "no" to everyone else, and "yes" to a tiny percentage of people.

My business has flourished since standing up and declaring my niche -- I decided I was going to focus on working with physicians with an entrepreneurial spirit who want the support and know-how to build successful practices or businesses.

Funnily enough, I still attract non-physician entrepreneurs and I still attract physicians who don't want to be entrepreneurs but want professional direction and career development instead. But that is the beauty of having a niche - I am in a position to select the clients who I will enjoy working with.

I share this story because it illustrates something that took me a long time to learn, and probably cost me a lot of income and more importantly time.

Everything about running a business gets easier once you have a niche.

The marketing, the operations, your work as an Expert.

So, let's see what is possible.

If you have a primary care practice, should you be thinking about developing a niche? Stressed-out female business executives? Perimenopausal women? Asthmatic kids? Diabetics? People diagnosed with Metabolic Syndrome? Obese teenagers? The "eco-concerned" who want a natural, holistic approach?

If you are a specialist, should you become known as a subspecialist? Or the go-to Irritable Bowel Syndrome alternative gastroenterologist? Or the must-be seen-by sleep specialist pulmonologist? Or the eating disorder psychiatrist?

(These are some of my more unimaginative thoughts about practice!) 

If you have a service business, who are your best clients? Who do you have the most fun serving? Who needs you the most and is therefore willing to pay you? 

If you offer a product, who will appreciate it the most? What do these people have in common? How can you reach them in large numbers?

Remember what Cosby said: "I don't know the key to success, but the key to failure is trying to please everybody."  

Once you know who you are willing to say "No" to (even if it makes your heart pound), you will be saying "Yes" to the patients or customers that will bring you the greatest rewards - professionally and probably even financially!

Can you handle that?