My guest Jonathan Small is a UK based podiatrist, and he believes that you should be charging what you're worth, and nothing less. You should also stay away from the land of low fees because it is a dangerous place and nothing good ever comes from it.
If you want to have a financially viable podiatry business, you've got to set your fees correctly. You should never set your prices based on what your competitors are charging.
Jonathan has appeared three times on the Podiatry Legends Podcast. His first appearance was on Ep 006: Work Smart, Not Harder and then on Ep 044: Podiatry Success Is A Mindset.
On this episode we discuss:
- Why podiatrists don't value the service they provide.
- Fee mindset
- When you charge higher fees, you also have to start delivering on service
- COVID-19 is showing why having low fees is not a good business move and is damaging long-term.
- Cashed up podiatrists who charged correctly and now have a cash reserve will ride out this pandemic comfortably.
- When you charge more, you can provide better services, do more CPD, etc.
- Higher fees are a reflection of the value of the education you provide to your patients - What is the value of the solution to the patient?
- The public perception of professionals that charge higher fees (Surgeons, Lawyers...why not Podiatrists)
"My approach is that if a patient comes to me with a foot problem that I can fix it as well as a surgeon can fix why should I charge any different to that surgeon?"
Reboot Your Podiatry Business
NOW is the perfect opportunity to reboot your podiatry business because patients are taking their health far more serious since COVID-19.
So if you think outside the box, there are real opportunities to be had.
Being Busy Is Not A Sign of Success
If you want a successful business, you need to free up time from your diary so you can work on the business.
Therefore you need to get rid of some patients by increasing your fees or take on another employee to see those patients for you, so you have time to work on the business.
Saying you do not have time is not an excuse, especially now.
Marketing
You have to get your marketing systems set and working correctly and to do this right it takes time, which is why you need to free up the time you're spending with patients.
If you don't like working on the business and working on your marketing that fine, you just need to get someone who does like it, or you should work for someone else. Business is not for everyone.
You need to work:
- On the business
- In the business
- And away from the business (time off)
"When you have a good marketing strategy, you create a steady stream of new patients, and this is what makes your business safe and successful".
Final Tip
Make a decision not to live the land of lower fees. Decide that you're going to be the Ferrari of foot care. You will lose patients, but if you have a good marketing strategy, you will quickly fill that void.
If you have any questions about this episode, please send me an email at , or you can connect with Jonathan at Health First Foot & Gait Clinic.
You can also connect with Jonathan on Instagram @footmanj12.
Facebook Page & Group
Facebook Page: Podiatry Legends Podcast - This is where I post each podcast episode and information regarding podiatry events around the world.
Facebook Group: Podiatry Business Owners Club - This is for podiatry business owners, and where I will be adding my business and marketing advice and videos.
One-On-One Coaching & Mentoring
If your podiatry business needs help to develop marketing strategies or business systems, the most efficient way to do this is with one-on-one coaching and mentoring. Please email me at and let's see where I can you.
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My Book
It's No Secret There's Money In Podiatry. In Australia, you can order directly from my website, but if you live overseas, I would suggest Amazon or the Book Depository.
Tell Your Podiatry Friends
If you enjoy listening to Podiatry Legends, please tell all your podiatry friends, and please feel free to leave a REVIEW on iTunes, or wherever you like to listen to podcasts.
If you enjoyed this episode you might also enjoy:
079 - Grant Duong From Good To Great
It's No Secret with Dr T. Podcast
If you like marketing and small business, please take a look at my other podcast; It's No Secret with Dr T., and you may also enjoy Ep 205: Fans First Experience with Jesse Cole
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