A colleague Sylvia Haskvitz and I are hosting a workshop for doctors called "End the Money Drama" The goal is to help doctors uncover the mysterious forces that shape money decisions, and make peace with wealth.
To promote the event, we're filming some conversations. It turns out that the day of our taping, Sylvia saw a new financial advisor for the first time.
Watch this brief video to see how Sylvia spontaneously describes the experience. Her comments begin at the 2 minute 18 second mark.
If I asked YOUR prospects about their experience with you, what would they say? When was the last time you asked?
PS Our first End the Money Drama workshop is scheduled for February 29th to March 1st, 2020 in Tucson. You are welcome to pass the information along to any doctor prospects or clients who may benefit.
If you want to work to work with doctors in 2020, align yourself with best practices.
Here's a video that describes what's working in 2020..
Click here to download a pdf of the slides.
I’ve listened to the money stories of hundreds of doctors, and some conversations stand out.
One doctor Beth said, “My relationship with money just isn’t working for me. My money brings me little joy, but lots of conflicts, anguish and uncertainty. If money were a person, I’d divorce him. But we’re stuck together. For life.”
Many doctors echo a recurrent theme: money is not working for them.
You help your clients literally make their money work for them. You put their hard-earned dollars to work making money. Your results are objectively measured in dollars and cents. You help doctors manage their OUTER WORLDS.
That’s not what doctors mean when they say money is not working for them. Instead, they are referring to the drama surrounding their relationships with money. It's about what's happening in their INNER WORLDS.
Here are three ways MONEY DRAMA gets played out:
While it's true that MONEY DRAMA can get in the way of building wealth, more money usually leads to more drama.
Doctors want to end the money drama.
Here are two questions you can ask prospects and clients to help you take the first step of ending money drama:
What are three ways your money-management style is working for you? You might hear, “I do a good job of saving.” Or, “I’m generous with others.” Or, “I now know my monthly expenses.”
What are three ways that your money-management style is NOT working for you? You might hear, “I have ongoing fights about money.” Or, “Money just slips through my fingers.” Or ,“I get so anxious about money that I just ignore it.”
Up next: I’m excited to reveal the 9 Money Ingredients that contribute to MONEY DRAMA--and how tweaking them can be part of the solution.
I remember speaking with my patient Jean. She had undergone a long and protracted treatment course for breast cancer--a bi-lateral mastectomy followed by a bone marrow transplant. We were celebrating five years later. She was cancer-free!
I asked her, "Jean, what was the hardest part about getting breast cancer?"
Without thinking, she blurted out, "The waiting. Waiting for the pathology report. Waiting for the labs. Waiting for the MRI. I can deal with just about anything. I just need to KNOW what I'm dealing with."
Your doctor prospects can face times of threatened financial health. Divorce. Losses from Dumb Doctor Deal gone south. The need to care for aging parents. This can lead to financial stress.
However, some of your prospects become immobilized by their worries. They are afraid to see where they really stand. They may leave their Fidelity envelopes unopened.
The true cause of money anxiety is the NOT KNOWING. Worried individuals often imagine a financial situation that's far worse than the reality.
While financial stress can inspire prospects to reach out to you, financial anxiety can pose a barrier to taking the next step with you. Worried prospects may put off seeking professional financial help because they're afraid of what they will discover. Instead, they stay up at night worrying, "I'll never be able to retire! What will it be like taking call when I'm 70?"
As you well know, things are usually better than anxious people fear.
Think about how you can connect with doctors experiencing financial stress; this is a marketing opportunity.
Help doctors with financial anxiety take that next step. Tell stories about other doctors with money anxiety, and let prospects know that things are usually better than feared.
Once you help individuals gain clarity about where they stand, you can help them create a financial treatment plan to optimize their financial health.
Then you can celebrate their financial health as they meet their goals!
© 2020. Vicki Rackner MD. All rights reserved. You may reproduce this post with the following by-line:
Vicki Rackner MD is an author, speaker and consultant who offers a bridge between the world of medicine and the world of business.
Happy New Year!
Acquiring doctor clients is no easy task. I want to thank you for sharing your experiences with me! After surveying the 2500 financial services professionals in this community, here are the top three challenges cited:
1. Getting past the gatekeeper. This is consistently the number one challenge over the decade I've been helping financial advisors acquire doctor clients.
2. Getting doctors to pay attention to your message and take action.
3. Generating leads.
Every financial advisor faces the same obstacles as they try to engage doctors. Who will prevail? It's the person who has access to the strategies, skills and tools to overcome these barriers. This gives you the competitive advantage.
And offering this competitive advantage is our commitment to you.
Based on the survey responses, we are excited to be developing some new products and services to help you in 2020.
If you would like to work with more doctor clients in 2020, here are some resources that you can access TODAY:
Click here to read The 9 Money Mistakes Doctors Make.
Click here to listen to a sample of the audiobook.
We look forward to supporting your business goals in 2020! Stay tuned for more new offerings.
A few months ago I wrote one of the most difficult speeches of my life. How would I eulogize my younger brother Barry who died suddenly at age 60?
Barry had a huge appetite for life. Even as a child, he kept people around him laughing--but not at the expense of others. Popping cigarettes in our young mouths is the just the kind of zany thing Barry would do every day.
Since Barry left no wife or children, I took on the task of informing the people in his life about his death. As I made those phone calls, I often the same words. "He was a great friend." "He always had a smile and a kind word." "He supported me." Even the post office clerk said that she ran into Barry at the grocery store just a week before he died, and he asked about her sick mother.
In the months following Barry's death, I sometimes wondered, "What will people say at my funeral?"
And so I pose a question to you. What would you like people to say at YOUR funeral?
What kind of a question is this to ask on December 31st?
So why am I sending this sobering question to you just as you're getting ready to put on your dancing shoes and welcome 2020?
As Stephen Covey says, "Begin with the end in mind." The vision of your legacy can inform your personal and professional and financial goals for the new year. These goals can be translated into your day-to-day actions.
Wishing you a year filled with the joy of meaningful work--making a positive difference in the lives of others. This is woven into my brother Barry's legacy.
© 2019. Vicki Rackner MD. All rights reserved. You may reproduce this post with the following by-line:
Vicki Rackner MD is an author, speaker and consultant who offers a bridge between the world of medicine and the world of business. She helps businesses acquire physician clients, and she helps physicians thrive. Contact her at (425) 451-3777.Vicki Rackner MD is an author, speaker and consultant who offers a bridge between the world of medicine and the world of business. She helps businesses acquire physician clients,and she helps physicians thrive. Contact her at (425) 451-3777.
As you set your vision for 2020, you could be asking, “What do I need to do to get there?”
I invite you to consider a different question: “What do I need to stop doing?”
Gardeners know that weeding promotes the health and growth of the desired plants.
How can you “weed your practice” to optimize the chances that you achieve your business goals this year? Here are 20 questions you might want to ask:
What can YOU give up that will help you achieve your goals in in 2020?
As you join with family and friends around the Thanksgiving table, you will most likely reflect on things for which you are grateful.
Today, I invite you to reflect upon the things that have contributed to your business growth in 2019.
These are all things for which you can be grateful.
I’m grateful for your commitment to serving the doctors who serve the community. You make important contributions that transform the lives of your doctor clients. Thank you for your participation in the Targeting Doctors community.
If you have a moment, I have a question for you: what is your biggest source of frustration as you acquire doctor clients? If you have a magic wand that could support your business growth in 2020, what would that look like?
Have a wonderful Thanksgiving celebration!
Would you like to work with more doctor clients in 2020? Explore our soup-to-nuts system delivered in the Cracking the Physician Code Course. This is the last session in 2019; tuition will go up in 2020. If you've been thinking about enrolling, this is the time to do it! You can listen to the replay of the first session delivered November 25th, and be ready to dig into the meat of the course on Monday, December 2nd..
Do you have questions about working with doctors? Click here to schedule brief conversation and laser coaching.
You are welcome to reproduce this blog post with this by-line
Vicki Rackner MD is an author, speaker and consultant who offers a bridge between the world of medicine and the world of business. She helps businesses acquire physician clients,and she helps physicians thrive. Contact her at (425) 451-3777.
Would you like some ideas about how to engage doctors during the holiday season?
Here is a replay of a one-hour webinar about how to deepen relationships with prospects, clients and power partners during the holiday season.
Click here to download a pdf of the slides.
Holiday celebrations and money are intimately intertwined.
It's no surprise that the holiday season offers many opportunities for you to deepen your connections with doctor prospects and clients.
However, done wrong, holiday outreach efforts can alienate the very people you want to engage.
Here are a few tips:
Remember that great content is a gift.
If you help early career doctors manage medical school debt, offer some low-cost ways to create family holiday rituals instead of going overboard with spending on gifts. If you help clients reduce their taxes, offer some end-of-year tax tips.
Make sure that your marketing efforts align with your brand experience.
If you help doctors become more philanthropic, consider giving a donation to your client's favorite charity. If you're known as someone who brings people together, consider hosting a client appreciation event.
Use humor with caution.
What's funny in your eyes may not be so funny in the eyes of your prospect. When in doubt, get the opinion of others before you send it out.
Would you like more holiday marketing ideas?
Join us Tuesday November 19th at 9 AM Pacific/Noon Eastern for a special webinar.
The Do's and Don'ts of Holiday Marketing: Why Holiday Marketing Works--and How to Get It Right
Participants will take away:
Space is limited. Click here to register.