Volume 81
October 13, 2021
Snapshots, For the Better
  • Popular Acronyms
  • B2C
  • B2B
  • B2B2C
  • Locus of Control
  • Corporate Wellness Programs
Greetings!
As previously highlighted, The Curse of Knowledge pinpoints that having deep subject matter expertise makes it difficult to comprehend others’ lack thereof. While specific songs “dance in your head,” those you interact with cannot hear or distinguish them. Attunement to this pervasive phenomenon can diminish impediments to mutual understanding.

With the Curse of Knowledge prominent, informative shortcuts abound. Societally, we love acronyms, words or names formed from the initial components of a longer name or phrase, usually using individual letters. Are you acquainted with these?
  • BFF
  • IMO
  • KOL
  • KPI
  • LOL
  • MAASA
  • ROI
  • YOLO
Your practice is B2C, Business-to-Consumer, the process of selling products and services directly to actual users. As consumers, B2C examples include car dealers, banks and grocery stores.
Though delivering expert hearing care to those in need is our ultimate objective, introductory methods vary. Realizing concerted efforts to increase patient flow via nurturing B2C relationships are core, it is additive to be well-versed in developing mutually beneficial B2B alliances.
B2B, business to business, is the exchange of products, services or information between businesses, not businesses and consumers. Examples include your practice paying for utility bills, rent to property owner or diagnostic equipment from a manufacturer.

Having identified B2B and B2C to the letters,
what is B2B2C and how does it apply?
With your Practice Growth our primary intent, B2B2C is how win/win collaborations your business builds with other businesses spark access to THEIR consumers. Interestingly, all these Outside In growth pathways are B2B2C:
To illustrate, while you earn new hearing healthcare opportunities one by one, busy primary care providers have 1000s of patients and senior living communities 100s of residents. Further, we are acutely aware of growing influence exerted by B2B2C entities such as third-party administrators (TPA) with massive numbers of participants. While local markets present uniquely competitive profiles and (strong) opinions on TPA differ, each practice decides which strategic collaborations fit best.
“Don’t judge each day by the harvest you reap,
but by the seeds that you plant.”
—Robert Lewis Stevenson
We witness industry leaders thrive by taking control of growth initiatives via independent pathways. On this continuum, what is assessment of your practice’s status and aspirations?
Like farmers at the whims of weather or car manufacturers to semiconductor scarcity, in a competitive hearing care marketplace, with rapid disruption (including DTC and OTC), we assert Internal Locus of Control (LOC) mindsets are optimal settings. Strategically, the best defense is a good offense.

On your next office commute, be keenly aware of 100s of businesses en route. Each one, large or small, has a cohort. Within each cohort, many should benefit from your professional services and may recommend you within their circle of influence. With numerous cohorts nearby and being confident you can enhance their hearing-related quality of life, do they appear close, yet feel distant? Now we discover effective ways to get well-aligned.
Are you familiar with Corporate Wellness Programs (CWP)? Learning more will be (pun intended) time well invested.
As summarized, potential CWP benefits include:

  • Improved employee health behavior
  • Reduced medical costs
  • Decreased employee absenteeism
  • Improved productivity
  • Helpful in employee retention and recruitment

In due course, as you imagine possibilities and explore mutually beneficial opportunities, corporate entities you converse with will reveal that they...
  • Have an existing program including vision and dental, for example, but not hearing healthcare, so you can complement their current array.

  • Do not have an existing program, so your hearing healthcare benefits can trigger progress.

The appealing news? In either scenario, your practice growth can be impressively driven with collective benefits. B2B2C.
In many respects, Healthy Hearing is Good Business. Next week’s conceptual overview will detail corporate rationale with team member- and customer-centric intent. As always, we Start with Why.
Bruce Essman
CEO
High Definition Impressions (HDI)



314.276.7392
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