Medical Empires9 Okt 2024

Should You Ask For Higher Pricing? Ep - 96

Welcome to The Spinoso Podcast. Today, I'm diving into the anxiety many entrepreneurs feel when it comes to pricing their products or services, especially in the medical field. When I first started Genesis Lifestyle Medicine, I struggled with asking clients to pay high prices, especially when I couldn't afford those services myself. It's natural to project your own financial concerns onto your clients, but that mindset can limit your business. You have to remove feelings from the equation and focus on the value your services provide. This is where data and analytics come into play—running a business based on facts, not feelings.

In the medical world, we're trained to operate within systems where patients rarely pay directly, making it even more challenging for providers to ask for cash payments. This is compounded by strict regulations like Stark laws, which prevent medical professionals from earning commissions on treatments they recommend. So, when you step into entrepreneurship and ask people to pay for your services, there's often a lingering sense of guilt or hesitation. But to scale a business, you need to understand the true value of what you offer and recognize that people will pay a premium for life-changing results, whether it's weight loss, improved health, or a higher quality of life.

The key to overcoming this anxiety is ensuring that you and your team believe in the products and services you're offering. At Genesis, we encourage our staff to try the treatments themselves if they qualify, so they can truly understand the value and speak from experience. When you believe in the life-changing potential of what you offer, it becomes much easier to confidently ask for a premium price. Ultimately, your service is not just a product—it's a solution that transforms people's lives. When you operate with that mindset, pricing becomes less about the number and more about the impact you're making.

Welcome to The Spinoso Podcast hosted by CEO, doctor, comic book geek, and car guy, Alex Spinoso. I help people and companies grow - especially in the medical business. While my experience and expertise is in scaling all types of medical businesses to 7, 8, 9-figures or more, I can be a mentor to anyone who wants to take ownership of their lives, become a better leader at home and at work, and overcome any obstacle that stands in their way.

(0:00) - Intro

(0:34) - Discussion on Personal Style and Family Anecdotes

(5:30) - Grandmother's Lifestyle and Family Dynamics

(8:00) - Transition to Business Topic: Asking for Higher Prices

(13:20) - Overcoming Anxiety and Imposter Syndrome

(27:40) - Creating a Premium Experience

(34:12) - Elevating the Business and Staff

(41:00) - The Impact of Premium Pricing on Customer Base

(43:40) - Tools for Staff to Ask for Higher Prices

(47:05) - Conclusion

Det här avsnittet är hämtat från ett öppet RSS-flöde och publiceras inte av Podme. Det kan innehålla reklam.

Avsnitt(300)

Life Happens For You, Not To You (And I Can Prove It) - EP327

Life happens for you, not to you, is the one belief Dr. Alex Spinoso would keep if he lost every other framework. Here's why he means it in his bones. If he had to throw out every book, quote and fram...

30 Okt 7min

How to Stop Your Clinic From Running Your Life - EP326

You started your practice for freedom, more money, your own schedule, a higher standard of care. Then somewhere along the way it flipped and now you're the provider, the biller, the HR department and ...

28 Okt 42min

Dolly Parton Said No to Elvis: The Business Lesson That Made Her Rich - EP325

Everyone remembers the wigs, the rhinestones, the big laugh, the "dumb blonde from the mountains." Almost nobody realizes that was the strategy. Dolly Parton pulled off what I'd argue is the single gr...

23 Okt 7min

Why I Walked Away From a Nearly $500M Offer for My Medical Business - EP324

We had a 10x offer on the table for Genesis Lifestyle Medicine, almost half a billion dollars and we walked away from it. I sat down with Josh Ponton on ASHER Health's Standing in the Gap and told the...

21 Okt 1h 46min

The $360,000 Decision That Made Sylvester Stallone - EP 323

In 1975 there was a broke, 29 year old actor with about a hundred dollars to his name, no car and a face partially paralyzed from birth that gave him a slurred way of talking every casting director in...

16 Okt 6min

The Smartest Way to Grow Your Med Spa (Most Owners Get This Wrong) - EP 322

I joined Neal Karski on the Aesthetics Millionaires Show for a conversation every med spa and clinic owner needs to hear, especially the ones who think the path to wealth is opening more and more loca...

14 Okt 57min

Genghis Khan Killed So Many People It Cooled the Planet - EP 321

Here's a fact that sounds made up but isn't: the Mongol Empire killed on such a massive scale that scientists say it measurably cooled the entire planet. I open this one with that because it's the str...

9 Okt 5min

How I Built a Medical Empire From One Rented Room - EP 320

I sat down with Chris Kille on the Building Great Companies podcast and told him the whole story, including the part most people skip. Before Genesis Lifestyle Medicine was a nine figure company, my w...

7 Okt 34min