Been a busy couple of weeks in the world of Medical Aesthetics in the UK and for me it started off at four o’clock in the morning on Monday. For a man who says he doesn’t work Monday mornings, I did a pretty poor job this week but you know better busy than not.
This is the topsy turvy entrepreneurial life we have chosen. Its not in straight lines, and its not for everyone.
Now, I don’t carry out treatments, my company is there to support your businesses, help you make a bit of money and we make a bit of money as well. There’s a personality type that we tend to be more successful with, and which those who have the entrepreneurial mindset. It’s focused. It’s driven. It’s resourceful. It wants to succeed. It doesn’t make excuses. Takes responsibility for failure and also celebrates success.
Speaker 1: When you find those people they’re really, you get a lot of energy and a lot of passion, and also a lot of enthusiasm. It’s incredibly rewarding helping these people drive and grow businesses, because the truth is that while there are a lot of practitioners out there, they’re not all entrepreneurs.
Practitioners are people who have called me up, asking for some support or help. I’ve given them some advice, and probably no more that three things to do.
Two of them are easy, one of them is hard and they don’t do any of them and that’s fine. It’s not my business. It’s up to you, whether you do them or not.
But that is not an entrepreneurial mindset, that is a practitioner who is just waiting for things to happen to them. I’ve noticed it hugely in the last week, since I woke up to the news that Superdrug is re-entering the Aesthetic Medicine marketplace.
BOOM! Feathers everywhere, “OH MY GOD!, NO! Superdrug! what are we gonna do?”
Chill. That’s what you’re gonna do. Just chill.
Superdrug are not coming to eat your lunch. If you’re an aesthetic entrepreneur, you’re going to see this as an opportunity, and if your business is geared around injectables I have a very uncomfortable message for you.
Superdrug have started up a service where they’re going to be doing basically cosmetic injectables. Allergan, who manufacture Botox, have “partnered/not partnered” (depending on who you ask) with them. I think it’s an interesting kind of dichotomy where you have a premium product and a value price fighting service working together.
Allergan have now decided to play at both ends of the market, premium end and a controlled entry into the prizefighter segment. It also tells me that basically, the race to the bottom is on as it’s going to be very, very difficult to sustain the price of injectables in a certain market point.
If your business is currently driven by injectables, you’re going to need to diversify, change your model a little bit and add value to your proposition.
You’re going to need to add packages and signature systems.
You’re going to have to basically productise your services a lot more than you are at the moment.
Superdrug are just the vanguard who have signalled the bottom of the marketplace and it’s going to get harder and harder and harder to differentiate yourselves in that market.
Start looking it how are you going to combat increasingly low priced competition and the commoditisation of your service.
You need to start thinking, “Right. Well, if this is what they are, this is what I am.” Start adding more services and more products, and more features to your offering.
What will that achieve? It will make you stand out in this hyper competitive market
Now you may be thinking “How the hell am I going to do that?” If you are, good. Thats the aesthetic entrepreneur mindset, and you’ve got to start to click into that a little bit more.
It’s about being resourceful. There are a few things that we can do to help you do that, and that’s what our webinar series is all about.
The differentiation between businesses driven are purely on injectables and places like SuperDrug is going to become increasingly difficult. Why?
Because this is a calculated move that has been war-gamed and though about. Both Allergan and Superdrug will have done there homework on the impact that this will have on the Botox brand in the UK. This isn’t something that’s just been fired out there. You’ve got Botox, the premium toxin brand. You’ve got nurses that are going to be on the JCCP register and quite well trained in there. They are only treating people over the age of 25, it is going to be in a very good clinical environment. These are things that I’ve just heard. There was a blog by Alice Hart Davies that was out last week and she’s actually been in and experienced it and wasn’t slating it.
Actually like, it’s okay.
You’ll get what you pay for, but it’s not going to be unsafe and I don’t think that the treatments are going to be particularly bad. Never in a million years will by Mum go to SuperDrug for Botox, but how many of your clients would?
So if you’re in that marketplace and you’ve got to step your game up. The borg are coming, and if you don’t move and you don’t start diversifying, coming up with different offerings, signature systems, differentiating yourself, you’re going to struggle next year. It is going to be a tough, tough year. Now is the time, three to fourth months, get it together and get accelerating.
Yes it’s a bit of a weird game, but this is the game that is being played at the moment. Diversification is going to win through
We’re going to kick off on the 12th of September with a webinar series designed to help you add value and differentiate your offering in just 6 weeks.
If you want more information, click on the link below.
Probably, because like me, you had no plan, you're doing everything yourself and are totally overwhelmed. Do you know…mailchi.mp
Be brave, the market won’t wait for you anymore.