Volume 56
April 21, 2021
Snapshots, For the Better
  • Controllable
  • 300+ Choices
  • Staying Local
  • Chambers of Commerce
  • Cheers
  • Network Effects
With complex dialogue about industry disruption, how do we distinguish what is controllable from what is not? From market share perspectives, growing competition from big box and aggressive retail outlets has been ever-present. Then, to list a few, there are secular trends with respect to third party administrators, OTC devices, telehealth and potential legislative changes with interstate compacts.

Have any of your current or prospective patients shopped on Amazon lately? To start, here are 300+ choices to consider: Amazon's Hearing Devices
If evaluating this rapidly evolving solution mix is challenging for experienced hearing care professionals, how can wary consumers make sense of it? With a confusing myriad of product and service options, sound advice from trusted experts is more important than ever. Must we emphasize the value of in person vs. online? Evidently so.

With this necessity top of mind, especially for private practices, do you confidently Start with Why being locally owned and operated offers essential advantages? As a communication Base Hit this represents our Diagnosis.
In-depth Insights on our 2nd Base Hit, targeted Treatment, was presented here:
Within it, we strategized:
This Influential Idea’s rationale: In cities nationwide, large and small, Shop Local campaigns are increasingly popular and important. While big box stores and online merchants become more dominant, many consumers eagerly support locally owned and operated businesses.
With respect to our 3rd Base Hit, Best Practices, we suggested:
In this context, as a hearing care provider with numerous competitors, it is important that your current patients and targeted prospects know your practice is locally owned and operated. With the growing market share of big boxes, retail chains and online sellers, it is imperative to differentiate. From community exposure to patient experience excellence, especially for practices with impressive longevity, there are many reasons Why extra awareness of homegrown roots is in your best interest.

We featured this image:
Locally Owned
We described ideal ways to network with Chambers of Commerce and other local businesses:
Just imagine the growth opportunities and fun that may naturally develop from meeting other independent business owners on their entrepreneurial journeys. Somewhat akin to forming medical networks of those you consistently refer to in various specialties, who are your local favorites for other products and services?
Especially with the pandemic’s negative impact on small businesses, sticking together is wise. While online resellers thrive from stay-at-home trends, they do not deliver personalized care, expert advice or importantly, compassion.
Being a locally owned and operated practice is driven by authentic guiding principles, not fads. Personally, when, for example, choosing restaurants, do you prefer supporting national chains or good neighbors where “everyone knows your name”?



With a bit of nostalgia, Cheers to that goal.

As we explore transformative ways to propel Networking Effects, they may be defined as, “any situation in which the value of a product, service, or platform depends on the number of buyers, sellers, or users who leverage it. Typically, the greater the number of buyers, sellers, or users, the greater the network effect — and the greater the value created by the offering.” As a useful reference: For Effect
“You can have everything in life that you want
if you will just help enough other people get what they want.”
— Zig Ziglar
As you reflect on recent years, to what extent have you:
  • showcased the benefits of your practice being locally owned and operated?
  • strategically networked with, in addition to fellow healthcare providers, other local businesses?
  • set records for carefully nurtured referrals?

In terms of Base Hits, now that an evidence-based Diagnosis and targeted Treatments have been clearly identified, diligently applying Best Practices will serve your community, patients, practice and team members well. Going forward, Extra Bases anyone?

While you know there is an Art to how your Locally Owned and Operated practice delivers patient-centered care, we believe more should be aware. Let’s focus on those prospects next week.
Bruce Essman
CEO
High Definition Impressions (HDI)



314.276.7392
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