by v12 » Mon Mar 26, 2018 2:22 am
jackrossi wrote:hello,
recently i aquired a minority stake in a local medical laboratory, good equipment and staff but a bit of of town.
I was thinking of new ways to improve the number of clients by offering blood test/urine analysis directly at home for an affordable price saving the client the time, extra cost and stress to go to a local hospital or clinic.
The idea is simple, we have a number of registered english speaking nurses that, in case you need a check up, feel unwell or would just like to check for some specific conditions will come directly to your home, check your blood pressure and hart rate and take the necessary samples for the analysis you need. .....
Yes, nice idea, though:
When you start a "new" business, you initially make far more publicity then the profit would allow. Ie a (big) investment in future sales, based on the assumption of returning customers as well as continuous mouth-to-mouth publicity.
However, your customers aren't returning that often, maybe once in 2-5 years. And in that time your existing customers did forget you. Let alone, that consumer referrals can be expected to sustain.
This implies, the moment you stop making publicity, your sales will drop. Drop significantly.
Unless, you get referred to by doctors, schools, pharmacies, etc. And these will already have their preferred labs.
Nice idea, though I think, not sustainable. Sorry.
Find something that will continue, without you having to spent more on publicity, then the business can carry. Publicity should be an investment for growth, and without (a lot of) publicity, your business should continue to run.
[quote="jackrossi"]hello,
recently i aquired a minority stake in a local medical laboratory, good equipment and staff but a bit of of town.
I was thinking of new ways to improve the number of clients by offering blood test/urine analysis directly at home for an affordable price saving the client the time, extra cost and stress to go to a local hospital or clinic.
The idea is simple, we have a number of registered english speaking nurses that, in case you need a check up, feel unwell or would just like to check for some specific conditions will come directly to your home, check your blood pressure and hart rate and take the necessary samples for the analysis you need. .....[/quote]
Yes, nice idea, though:
When you start a "new" business, you initially make far more publicity then the profit would allow. Ie a (big) investment in future sales, based on the assumption of returning customers as well as continuous mouth-to-mouth publicity.
However, your customers aren't returning that often, maybe once in 2-5 years. And in that time your existing customers did forget you. Let alone, that consumer referrals can be expected to sustain.
This implies, the moment you stop making publicity, your sales will drop. Drop significantly.
Unless, you get referred to by doctors, schools, pharmacies, etc. And these will already have their preferred labs.
Nice idea, though I think, not sustainable. Sorry.
Find something that will continue, without you having to spent more on publicity, then the business can carry. Publicity should be an investment for growth, and without (a lot of) publicity, your business should continue to run.