Mar 18, 2020 by Kaeli Lindholm
If you’re like 90% of the population you have some uneasy emotions around the prospect of a recession. While an economic fluctuation is eminent, opportunity doesn’t elude those who choose to lean in and step on the gas pedal to claim a leading position in their industry.
The biggest wealth transfers in history happen during recessions. The ones who lean in and embrace opportunity are the ones who will magnetize the wealth.
How to claim the leadership position in your category:
1. Elevate your thinking:
If everyone else has the knee-jerk reaction to pulling back, what does this mean for you if you decide to charge forward? When the market is saturated with advertising, the cost per conversion is higher. During an economic fluctuation, exploit the opportunity for lower cost patient acquisition strategies. Adapt your perspective to embrace:
a. More Opportunity
b. Less Competition
c. Less Expensive Advertising
2. Put a strategy in place and commit:
Decide where you want to position yourself. Do you want to lean and own the space or sit back and wait it out? Create a tactical plan and stick to it without impulsive movements. Don’t make big decisions on the fly. Every downturn is followed by an upturn!
3. Pivot correctly to profit
Cut frivolous costs and get creative! When one company is losing money, another is gaining. Which side are you going to be on? For example: When layoffs happen, high quality candidates will be available for hire. Be relentless in the search of new methods to innovate and serve your patients. Boost your investment in strategic advisory to help you profit from this situation and provide creative insight to leverage your ingenuity.
4. Leverage and lean into your team
Teach, train, and coach your team to effectively align their roles with how they can be profit warriors for the company with an all hands on deck approach. Great employees will step up to lead in their roles as ambassadors for the business with the right visionary guidance and direction from you as a leader!
About Kaeli Lindholm
Kaeli is a business strategist and transformational brand curator helping aesthetic practices make 6 and 7 figure leaps by implementing timeless business principles through modern tactics.
The founder of KLC Consulting where she is most known for her signature POP (Practice Optimization Programs. Her scope of work has encompassed executive management and consulting roles with several of the world’s top aesthetic device manufacturers and global fortune 500 pharmaceutical companies.
Kaeli served as Managing Director of a leading plastic surgery and wellness institute where she tested and implemented her proven strategies firsthand.She is an expert at identifying what it takes to align business with human and capital resources to stimulate competitive and innovative growth.
Do you have questions about how to grow your aesthetic business during times of uncertainty? If so, schedule a 20 minute eligibility discovery call. To get access to insider tips and free live practice optimization trainings join her private Facebook Group “Tribe of Fierce Aesthetic Leaders”