The Business of Hearing

Download the full PDF at https://join.orange-gray.com/24of2024 ** In this episode, I share 4 highlighted campaigns from a new document I've just published called '24 of the smartest (and most original) ideas implemented by private practice hearing care in 2024'. If you're a private practice leader, then get it downloaded.

Chelsea Treseder is the co-founder of MyVitalsPro, the hearing care industry's most insightful platform for analysing data and understanding the internal numbers inside your practice. With access to big data, she has the ability to see strengths, weaknesses, opportunities and threats before many, and in this episode, she shares exactly what she's seeing right now in 2024. From Third Party Administ...

In this episode, I have a chat with ChatGPT. We interview each other, play "would you rather" and I answer 10 big questions about hearing care, myself and the best marketing strategies to drive results for an independent private practice.

Imagine if your providers knew exactly what to say to help patients to make decisions. With the 'help rate' being a key metric between average and great performance - understanding how to use a few magic words may make all the difference. In this interview, I sit down with Phil M Jones to discuss how private practice hearing care clinics can help more patients to say yes, and where to focus right...

If you have a manufacturer-owned chain as a competitor, you know the pain. They outspend you on advertising. They are aggressive in their pursuit of new patients. They have a national brand. They have economies of scale.  They have many, many advantages. Yet they do have a kryptonite, and there are several ways you can use your superpower against them to fight back and grow your market share. In t...

This may be controversial. But I believe you should be the most expensive practice in your area. Three reasons why: #1 - This is a business, and you deserve to build a great life for what you do (this isn't a charity). #2 - By charging more, you can deliver more (time/energy/focus/service) #3 - The fight at the bottom and in the middle is a mess ... you either need to be the cheapest (impossible)...

In 2023, Starbucks revenue was 35 billion dollars. $21.68bn was from coffee/hot drinks $6.59bn was from food. $7.2b was cold drinks and merch. Essentially, if Starbucks ONLY sold their core product, they would be 39% worse off. Apply this to hearing care, and there's a big lesson. If you only sell hearing aids, then you're leaving money on the table. That's why, in today's episode of the Business...

Businesses like  Ferrari, Michelin, and Ford have used (and, in some cases, still use) unique, low-cost strategies to shift perception and grow their perceived value. In today's podcast, I'll share how you can do the same in your practice. I'll take you through  five different low-cost (and even no-cost) tactics you can implement to make patients perceive your value as higher. This will make them...

As a practice leader, you may have have heard that there's famously only three ways to grow your practice. Increase the number of patients Increase the average transaction value Increase the frequency of purchase For all intent and purposes, the above is correct. However, there is an alternative method that is growing in popularity in today's economy. That is, acquiring a competitor. In this episo...

Back in the day, you could rock up to a physician offices with coffee, cakes and a smile and win referrals. The problem is, this is now being seen as more of a hinderance, than helpful. The question is, what should you do to win and develop relationships with local physicians? In this episode, I share exactly what's working right now, how one of our Inner Circle members ran a campaign with a 25% r...

Every future hearing aid wearer in your community can be split into one of 5 phases. The challenge is, most marketing/advertising focuses on talking to people in the wrong phase (which becomes a blood-bath of fighting big-budgeted groups/chains). In this week's short and training-focused episode of the Business of Hearing Podcast, I show you exactly where to focus your attention to get the biggest...

This one is a little direct, and personal ...  ... there's no market strategies or ways to grow your practice. Instead, it's an honest conversation between me and you about the trials and tribulations of handling stress as a busy business owner. If you find yourself stressed often, then this one is for you. It's honest, raw and a little emotional. == Learn more at www.orange-gray.com

Are you looking for a one night stand or a marriage? Because depending on what you're looking for, you have to play two very different games, hang out in very different places and show up in different ways. It's the same with marketing. You can chase short-term gratification/outcomes, or you can look for long-term value, but the way you reach both destinations is very different and too much market...

Well, Apple have finally done it. After months of rumours, they have officially announced that they're introducing hearing aid functionality into their latest iOS software update, turning Apple Airpod Pro's into over-the-counter hearing aids. But what does this mean? How will it impact the future of the industry and how should you respond? In this episode, I share my hot take. What are your though...

Why should somebody choose you over all other options available to them? That's the question that you need to answer. In this episode of the Business of Hearing podcast, I share the ONLY 4 value propositions that any business can choose, and discuss how hearing care practices can leverage each of these 4 'tip of arrows' to stand out in their marketplace and attract the types of patients that they...

This may be a controversial one ... . .. but if you want to grow your practice, then it often requires you to spend your time working on the high pay-off activities where you're working ON the practice. The best way to do this is to escape patient care, whether just one day per week or full-time. In this episode, I share the lessons we can learn from the E-Myth that can be applied to help your pra...

Are you seeing a similar trend? Are more and more patients visiting you, asking for prices, then going elsewhere? Are you and your providers having to justify your prices and articulate how you differ? Is the topic of Costco and competitors coming up more often? You're not alone. You can blame the economy You can blame politics Or you can blame the weather. But I think it's something much bigger t...

Can you sense it? We're on the brink of significant change. It seems like everything we've long accepted about audiology and hearing care is shifting rapidly. The ground beneath us is moving. In this episode, I discuss four crucial areas to focus on so you can stay ahead of these changes, rather than being left behind. We'll cover the impact of the baby boomer transition, the rise of Artificial In...

If you have a manufacturer-owned chain as a competitor, you know the pain. They outspend you on advertising. They are aggressive in their pursuit of new patients. They have a national brand. They have economies of scale. They have many, many advantages. Yet they do have a kryptonite, and there are several ways you can use your superpower against them to fight back and grow your market share. In th...

Dr. Leah Guempel has an incredible story! From starting as an audiologist and jumping straight into private practice, she has since grown through acquisition by buying two (large) practices in the past 4 years. In this episode, Dr. Leah shares her story, how she achieved this and some of the biggest lessons from her journey of building a group of high-performing practices.

It was a pleasure to have Dan Martell join as part of the Inner Circle Book Club. If you're unfamilar with Dan's work, he is the bestselling author of "Buy Back Your Time" and the #1 growth coach for business owners in the world. He is also the founder of Martell Ventures, a portfolio of companies that makes over $100M in revenue. In this interview, he joined Phil M Jones to discuss the practical...

Have you ever had a Prime Hydration drink? Of course you haven't - you're not 14 years old! However ... When the two YouTubers KSI and Logan Paul launched this drinks brand last year - it well and truly took over the world, quickly growing to an eye-water valuation of $8.4B. But how did they do it? Well, they did something VERY intelligent that I want to talk about in this episode and share detail...

Wow. What an interview. Dr. Nancy Duncan is back with another 'Under the Hood' episode as she interviews Dr. Richard Luekenga and Allyson Luekenga - the husband & wife team behind Hearing & Balance Doctors in Utah and Nevada. Their practice is incredcible, the staff culture they have built is insanely strong and the work that they do within their communities is some of the best that we've ever see...

Do you know how much your practice is worth? And if you were planning to sell it, would you know where to focus to maximize the valuation and make it ultra desirable to a potential buyer? Well, in this episode, I'm sharing the 5 big areas that you should focus on to maximize your valuation. This includes the obvious ones ... like your EBIDA, but also 4 ways to increase the multiple applied to your...

How are you using ChatGPT in your practice? If your answer is: I'm not Writing copy For fun Then you're missing out. In this episode, I share 5 ways that you could be utilizing this FREE tool in your practice to buy you back more time, build effeciences and be your personal assistant. With your time being so valuable in growing your practice, these little hacks may just help you to find hours of e...