Perfect Place to Put a Practice Podcast
We discuss topics on demographics, psychographics, geographics, and site selection for professional practices. This is a weekly podcast that is most applicable to doctors practicing in the United State.
There are several reasons why Arizona generally and Greater Phoenix specifically have taken off. Reasonable home prices, new jobs, inexpensive energy, reasonable tax rates and more are acting as a magnet to population. It doesn't hurt that you can play golf all year. Find out where to look!
Sorry, no place is perfect. Sometimes what you really need to consider is what is really important about your practice location and what is not worth compromising over. In fact, we list five locations that are really wonderful for some doctors and practices and some that are just not so hot.
It is certain that this part of Northern Virginia, Southern Maryland, and the Federal District has been growing in population and affluence. But with this come certain challenges for practice, particularly for new practices, that exist in greater measure than in almost any other MSA. In short, it is a victim of its own success.
This is a raw audio file of Mike Green giving his outstanding seminar on how to develop "The Offer" or "The Message" about your practice as it relates to the Demographics and Psychographics.
It is an outstanding cut by one of the smartest market researchers anywhere.
It is true: Los Angeles is not growing. But that should not be taken as a sign that practice, even a start-up practice, is not possible This episode is all about finding potential practice sites that appeal to a new patient-base. I discuss how this has happened and is likely to happen in the near future. Stop sitting on your hand! Opportunity awaits you if you are diligent and a little creative.
It is easy for a demographer to slap together data and charts for most cities in America. That is not the case for New York City. This episode reviews where the parts of the City contrast with each other and show you what you need to consider to enter this market as a start-up or practice purchase.
This episode is all about the Greater Chicago area. It is about the places that are showing promise and why the region is in trouble. At Doctor Demographics, we can tell you where to look and where to avoid.
There are some outstanding reasons to practice in Greater Seattle. This episode goes through those reasons as well as the cautions such a vibrant but expensive place should cause as one studies the regions. One of the big take aways is to reduce one's commute as much as humanly possible.
In this episode I discuss two examples of LifeModes and actual Psychographic Groups that are on the rise in the U.S. The idea is to show you what these groups sound like and how they apply to different professions (veterinary and dental). I am hoping that you can see how this information can make a big impact upon your practice promotion and location.
If you want to know where to purchase a practice or to start-up on office, the psychographics are what matters. It is not a matter of competition ratio (regardless what your accountant or consultant are telling you). The problem is that they may be well-meaning in their recommendations but they don't know enough about the new social-science research to tell you what you need to know.
For this episode, I am ignoring Florida, Georgia, Texas, and the Carolinas in favor of some states that often get ignored by those seeking to figure out where to practice. These include Arkansas, Kentucky, Tennessee, Mississippi, Alabama, and Louisiana. And I acknowledge that this may be my least listed to episode. But I would be wrong if I didn't tell you a little about them.
We look at the six states that make up the Rocky Mountain States. Is there potential here? Well, yeah! They are among the fastest growing states and they have the Nation's highest birthrates. And did I mention that the cost of living has made them a magnet from those states that are suffering from high taxes and stagnant or negative growth.
While it has the lowest birth rate in the nation, the six states in New England are not a lost cause. This session discusses the states that make up this area and frankly comments on which of them has the most potential. Hint: It isn't Rhode Island.
Nope. Sexy, it is not. Crazy high growth isn't happening either. Still for the states like North and South Dakota, Nebraska, Kansas, Iowa, Minnesota and Missouri, there is a steady increase in value and a much lower "risk factor" in purchasing and starting-up a practice. That is because the cost-of-living and the quality-of-life are doing very well. It a place to invest your time and money if you have realistic expectations and do your research.
The policy of a community on housing, particularly single-family dwellings and home purchases, may be one of the most important metrics on where you want to practice. It is far more important that the competition ratio, income distribution, and other demographic factors with the possible exception of growth. This episode explains why.
Using the analogy of "The Doldrums" (which many doctors are feeling at this time), we discuss what the 5 "factors" are that describe this cyclical phenomenon and discuss strategies to deal with their impact upon your bottom line (and future).
Many locations are going through the sometimes process of "gentrification." This session deals with whether this is a good thing for a practice or a bad thing. What does Gentrification really mean to an area? Is it going to help or hurt a community? These are the issues that this session reveals as well as some specific ideas on our approach for practices.
If you are considering where to practice (where to put a practice, where to purchase a practice, and even where to take a job), these are the four factors you need to keep in mind.