Why Your Company Needs a Clear Mission Statement?

A QUARTET OF REASONS!

It’s going to be a good idea to do everything you can to help your company succeed. One good thing that you can do for your company is to create a clear mission statement.

Why is a mission statement so important for your company, though? Read on to learn exactly why your company needs a clear mission statement so much.

By Jonathan Mase MBA

Mission Statement

READ HERE: https://jonathanmase.wordpress.com/2021/09/01/why-your-company-needs-a-clear-mission-statement/

Your comments are appreciated.

THANK YOU

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PODCAST: Established Sales Strategies That Are Effective When Applied to Healthcare

HEALTHCARE SALES TECHNIQUES

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Learn Established Sales Strategies That Are Effective When Applied to Healthcare:

1) Prospecting: The Strategy of Aaron Ross in Dividing Prospecting into Seeds, Nets and Spears Was Effective in Generating Leads at Compass Professional Health Services.

2) Pitching: The Miller-Heiman Strategy of Identifying Economic, Outcome and Technical Buyers Allows for Effective Pitching to a Buying Team.

3) Closing: The Model of ‘Fit-Risk-Price’ is Essential To Understanding How and When to Close a Sale.

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BY ERIC BRICKER MD

THANK YOU

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On Marketing, Advertising and Sales; etc.

Including Public Relations, Risk, Change and Crisis Management

By Dr. David Edward Marcinko MBA

Marketing is the business process of identifying, anticipating and satisfying customers’ needs and wants. It is your unique value proposition or strategic competitive advantage. Marketers can direct product to other businesses or directly to consumers.

Advertising is a marketing communication that employs an openly sponsored, non-personal message to promote or sell a product, service or idea. Sponsors of advertising are typically businesses wishing to promote their products or services. Advertising is communicated through various mass media, including traditional media such as newspapers, magazines, television, radio, outdoor advertising or direct mail; and new media such as search results, blogs, social media, websites or text messages. The actual presentation of the message in a medium is referred to as an advertisement, or “ad” or advert for short.

Advertising is differentiated from public relations in that an advertiser pays for and has control over the message. It differs from personal selling in that the message is non-personal, i.e., not directed to a particular individual. We pay for advertising but pray for public relations.

Sales are activities related to selling or the number of goods or services sold in a given targeted time period. The seller, or the provider of the goods or services, completes a sale in response to an acquisition, appropriation, requisition, or a direct interaction with the buyer at the point of sale. There is a passing of title (property or ownership) of the item, and the settlement of a price, in which agreement is reached on a price for which transfer of ownership of the item will occur. The seller, not the purchaser, typically executes the sale and it may be completed prior to the obligation of payment. In the case of indirect interaction, a person who sells goods or service on behalf of the owner is known as a salesman or saleswoman or salesperson, but this often refers to someone selling goods in a store/shop, in which case other terms are also common, including salesclerk, shop assistant, and retail clerk.

Change management is the discipline that guides how we prepare, equip and support individuals to successfully adopt change in order to drive organizational success and outcomes.

Crisis management is the identification of threats to an organization and its stakeholders, and the methods used by the organization to deal with these threats.

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Risk management is the identification, evaluation, and prioritization of risks (defined in ISO 31000 as the effect of uncertainty on objectives) followed by coordinated and economical application of resources to minimize, monitor, and control the probability or impact of unfortunate events or to maximize the realization of opportunities.

Assessment: Your thoughts are appreciated from a healthcare perspective.

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How We Use the ME-P to Market and Reach Our Target Audience

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A Marathon –  Not a Sprint

By Dr. David Edward Marcinko MBA CMP™

[Publisher-in-Chief]

I am a runner on LSD. I have been running long, slow, distances for more than three decades. And, this is our advertising philosophy at the ME-P. Say What?

Goals and Objectives

The goal is simple enough to state, but reaching it is a challenge. The ever-rising expectations of social media, e-connectivity and Internet users require us to make constant improvements to the ME-P so that our visitor’s experience is relevant, meaningful and worthy of recommending to others.

Going Viral

For example, the humorous “viral videos” that often appear on YouTube, and elsewhere, may get forwarded in emails and generate millions of viewers for a few days, but then drop out of sight quickly. This is not an ME-P goal for our staff, expert contributors, and informed readers and subscribers. Such a “spike and drop” phenomenon is interesting, of course, but it is not our focus.

So, much like my LSD metaphor, we favor LSD … and are on cognitive steroids, of sorts.

The ME-P Way

Instead, at the ME-P, we post short and long topical essays, comments, graphics, videos and other website URLs with a much different goal in mind. What is it? To market to our niche audience, and obtain higher search engine rankings over the long term, in our areas of expertise and on a continuing basis. Sound like a long term stock-market investor, or LSD runner? You bet!

Assessment

We trust all ME-P readers, subscribers, advertisers and visitors agree.

Conclusion

And so, your thoughts and comments on this ME-P are appreciated. Feel free to review our top-left column, and top-right sidebar materials, links, URLs and related websites, too. Then, subscribe to the ME-P. It is fast, free and secure.

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Sponsors Welcomed: And, credible sponsors and like-minded advertisers are always welcomed.

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Healthcare Organizations

About Premium Link Advertising on the ME-P

Premium Link Advertising on the ME-P

[Our Readers are Interested in What You’ve Got to Say]

What are Premium Links?

Premium [text] Links are a great advertising option because they look just like our regular “site content”, and so are generally more attractive to visitors.

For 1 month, 3 months, 6 months, or a full year, your company’s information, web site and email address can be placed on just about any post or perma-page of the Medical Executive-Post.

Policies

1) Premium [context] Link ads must be relevant to the healthcare or financial services industry, and are subject to editorial review.

2) We allow up to four Premium [text] Link ads per page, on a “first come, first served”, basis.

3) Premium [text] Link ad placements are “page specific”, meaning you choose the page or post on which to advertise (thus targeting a specific audience).

4) Perma-Pages are more costly than post-pages.

Start advertising today! Here’s how:

1) Contact us for a rate card or quote. 2) Send in your ad info to Ann Miller RN MHA 3) Pay for your ad via your PayPal account

If you have any questions, please email or call: MarcinkoAdviasors@msn.com Phone: 1-770.448.0769

Ann Miller RN MHA

[Managing Editor]

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Become an ME-P Media Partner

Gain Exposure for Your Company

Join Our Mailing List 

Become an ME-P media partner to get great brand exposure for your product or service. Just submit an original article, post, essay, pod-cast or white paper, and receive the following:

  • Your logo will be featured on the website
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  • Your company will be acknowledged on the ME-P
  • You will be able to display or download your brochures or publications
  • Your publication will be available to all ME-P readers.

Contact: Ann Miller; RN MHA: www.MarcinkoAdvisors@msn.com

Speaker: And, if you need a moderator or speaker for an upcoming event, Dr. David E. Marcinko; MBA – Publisher-in-Chief of the Medical Executive-Post – is available for seminar or speaking engagements. Contact: MarcinkoAdvisors@msn.com and http://www.springerpub.com/Search/marcinko

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Medical Risk Management: http://www.jbpub.com/catalog/9780763733421

Healthcare Organizations: www.HealthcareFinancials.com

Physician Advisors: www.CertifiedMedicalPlanner.com

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Sponsorship Opportunities

Advertise on the Medical Executive-PostSyringe

Let’s get right to the point!

Reach out and impress more than 100,000 physician and nurse-executives, financial advisors, CEOs and medical management consultants in the Health 2.0 space.

Our premium institutional e-journal: www.HealthcareFinancials.com and complimentary companion www.MedicalExecutivePost.com  has limited sponsorship and advertising opportunities available; So, be sure to act now!

Advertise with us!

Reserve your space today.

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Speaker: If you need a moderator or speaker for an upcoming event, Dr. David E. Marcinko; MBA – Publisher-in-Chief of the Executive-Post – is available for seminar or speaking engagements.

Sponsors Welcomed

Credible sponsors and like-minded advertisers are always welcomed.

Link: https://healthcarefinancials.wordpress.com/2007/11/11/advertise

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Our Other Print Books and Related Information Sources:

Practice Management: http://www.springerpub.com/prod.aspx?prod_id=23759

Physician Financial Planning: http://www.jbpub.com/catalog/0763745790

Medical Risk Management: http://www.jbpub.com/catalog/9780763733421

Healthcare Organizations: www.HealthcareFinancials.com

Health Administration Terms: www.HealthDictionarySeries.com

Physician Advisors: www.CertifiedMedicalPlanner.com

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Developing a Financial – Management – Advisory Practice for Doctors

Deep Knowledge and Personalized Marketing Brings in New Clients

By Dr. David Edward Marcinko; MBA, CMP™

BY Professor Hope Rachel Hetico; RN, MHA, CMP™

[ME-P Publisher and Managing Editordave-and-hope]

In any marketing situation, the more you know about your target audience, the more successful you will be. Accordingly, all of the old rules still hold true, such as “do your homework.” Unfortunately, for some financial advisors and management consultants, homework means researching broad (i.e., vague) demographic information such as zip codes, income, and age. This broadband approach to marketing is insufficient and unlikely to succeed. For example, SWOT analysis is best done in-house, while related medical marketing information can be obtained from the Institute of Medical Business Advisors, Inc.

www.MedicalBusinessAdvisors.com

Focus like a Laser Beam

An absolute of communication is to focus on the person receiving your message. If you don’t know anything about the person, you can’t focus on what is important to him or her, and you end up placing too much emphasis on yourself. Your message then carries less weight and has less impact.

Defining Your Niche

Instead of approaching all people in a certain neighborhood or age group, look for people within professional subcategories—people who use their talents in a specific way. Primary care physicians, dentists, podiatrists and optometrists apply their talents differently than surgeons or pediatricians. And, private management consultants and entrepreneurs use their talents differently than large corporate managers.

Develop a Profile

Let’s look at the medical entrepreneur niche space. Perhaps you regularly work with such entrepreneurs who manufacture or deal in medical gadgets, Durable Medical Equipment [DME], healthcare IT devices, instruments etc., and would like to increase the number of clients you serve in this niche.biz-book

The Process

First, you need to develop a profile that gives you specific information about those who manufacture said medical widgets in your area (i.e., more than just their zip codes), bearing in mind of course, that the profile is a point of departure. The general profile is then divided into several subsets based upon their specialty sales-type, devices, locations, market size, gender, etc. Concentrate on developing niches in which you have existing clients. Next, consider the attitudes, values, and mental processes common to all of your clients within a given niche. Knowing (or at least being able to project) what those qualities are will make your marketing efforts more successful because you already are familiar with who they are, their values, and how they want to receive information.

Client Values

How do you find out what someone’s values are? Just watch the person work. Ask questions. What do you want? Why do you do that? What’s important to you? To what words and phrases do you relate? What words and phrases do you resent? What does your desk look like? How do you prefer to receive information? Do you prefer a structured or a more relaxed environment?

The Value of Profiles

Developing profiles of specific groups within any given niche helps you establish rapport with people who are not yet clients. Many marketers make their initial contact through a letter. That’s dangerous, unless you are able to establish rapport in the letter. If not, you have diminished your reputation and accomplished little.

Mirroring

If you understand the concept of mirroring, you know it is important to mimic the other person’s breathing, vocal tonality and body language. That works amazingly well in meetings or even during telephone conversations.

Beware Letters

However, you can’t mimic in a letter, so you have to mirror the other person’s mentality. You have to match his or her attitudes, values, and mental processes in your marketing. Again, to consider sending a marketing letter – without first developing a profile – may be a foolish gamble.

Assessment

In short, relationship niche marketing can work to increase your practice without diminishing your reputation.

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Enter the Certified Medical Planner™

For those fiduciaries interested in the medical management and the healthcare financial advisory deep-space, for doctors and medical professionals, please visit www.CertifiedMedicalPlanner.com for more information.

Conclusion

And so, your thoughts and comments on this Medical Executive-Post are appreciated? Despite the CFP imbroglio, how do you niche market, or attract physicians or other “high-value” clients, to your advisory practice? Do you possess any special deep-knowledge or “gravitational pull?” 

Link: http://feeds.feedburner.com/HealthcareFinancialsthePostForcxos

Speaker: If you need a moderator or speaker for an upcoming event, Dr. David E. Marcinko; MBA – Publisher-in-Chief of the Executive-Post – is available for seminar or speaking engagements. Contact: MarcinkoAdvisors@msn.com  or Bio: www.stpub.com/pubs/authors/MARCINKO.htm

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Our Other Print Books and Related Information Sources:

Practice Management: http://www.springerpub.com/prod.aspx?prod_id=23759

Physician Financial Planning: http://www.jbpub.com/catalog/0763745790

Medical Risk Management: http://www.jbpub.com/catalog/9780763733421

Healthcare Organizations: www.HealthcareFinancials.com

Health Administration Terms: www.HealthDictionarySeries.com

Physician Advisors: www.CertifiedMedicalPlanner.com

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Our Valued ME-P Sponsors and Vendors

Dear ME-P Advocates and Colleagues

Many thanks for reaching out to us.

Ann Miller; RN, MHAd-h-m-ed

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We are discussed, read and viewed by medical students, physicians, dentists, podiatrists, optometrists and industry analysts; as well as healthcare administrators, financial advisors and planners, accountants, lawyers, office managers, CXOs, CFOs, investors, Wall Street insiders and nurse-executives from health systems around the country. Advertise with us and you’ll put your brand name in front of a smart & tightly focused demographic; one at the forefront of our emerging healthcare marketplace of collaboratively informed, thought-leaders and professional “movers and shakers.”

 

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Contact Us

And so, please feel free to contact us for additional sponsorship and/or advertising information.

www.HealthcareFinancials.wordpress.com

Thank you

Ann Miller

Executive Director

MarcinkoAdvisors@msn.com

Speaker: If you need a moderator or speaker for an upcoming event, Dr. David E. Marcinko; MBA – Publisher-in-Chief of the Executive-Post – is available for seminar or speaking engagements. Contact: MarcinkoAdvisors@msn.com  or Bio: www.stpub.com/pubs/authors/MARCINKO.htm

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Financial Product Sales, Communication and Management

Techniques-of-Art for Financial Advisors

By Robert Ayrer and ME-P Staff Writers

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Before any piece of work that requires communication can be understood, the context must be established.  Without context, words have very little reality; and without reality, there can be no communication. Communication is the “transfer of meaning.”

Introduction

The lack of a definitive role of the marketing function (and the sales function, and the difference between the two) for financial advisors [FAs], has contributed to the lack of clarity required for the achievement of sales targets. The fuzzy line between “targets” and “goals” has left most financial product salesmen, OSJs [Office of Supervisory Jurisdiction] and sales managers without the “tools to manage.” In this context, we will define the financial sales person’s role as the “person responsible for the execution of the corporate, or personal, sales plan, which includes the short term marketing of the company.”

Marketing versus Sales

Long term strategic marketing is a very sophisticated process, requiring highly trained people that are not involved with the mundane, day-to-day activities of the enterprise.  Unfortunately, this type of “marketing” is done by too few businesses, RIAs, BDs, and FAs.

The “marketing plan”, as defined by Malcolm H. B. McDonald, Director of the Cranfield Marketing Planning Centre, of the Cranfield School of Management, is a comprehensive business plan, incorporating and integrating all of the elements of business; the four “P’s” — Product, Price, Place and Promotion. More often than not, financial sales organizations and RIAs are run by people with “Director of Sales & Marketing” titles.  This use of the “marketing” title often confuses the difference between marketing and sales. For our purposes, we will include the very short term marketing function in the sales department’s role.

Dirty Ear Marketing

This “very short term marketing” required of the FA or sales person is what is called “The dirty ear” marketing.  The “dirty ear” comes from “keeping an ear to the ground” to detect changes in the market that would affect the assumptions that support the marketing plan and the company sales plan.

It has been said that the American plains Indians could drive a stick into the ground, put the end of the stick to their ear and tell if the buffalo herd was within twenty miles — and, by bending the stick, tell in which direction.  The more sophisticated tracker could tell whether the herd was approaching or going away.

It is this short term, close in, change in direction of the market (herd) upon which the assumptions of the marketing and sales plan are based, that should be the concern of the sales department or financial advisor and business owners. 

Of Bull and Bear Markets

For example, during times of economic expansion, and bull markets, the purchasing authority for many items is transferred down the reporting chain to the lowest possible responsible level of management. At this level a sales person or FA may only require one or two calls to complete the selling process with a buying authority. This authority level would dictate the activity of sales people in achieving their personal sales plan and achieving their targets and goals. 

During a recession however, as is occurring now, authority to buy may be withdrawn from the customary buying level, designating someone at a higher level as the “buyer.” The financial sales person still must go through the traditional contact at the lower level. These contacts can now only say “no”. They cannot say “yes.” By adding another level of decision making to the buying process, additional activity will be required to make the average sale. You cannot double the activity required to make a sale and make the same number of sales!  Don’t make the mistake of thinking that working harder is the answer, as there is only a finite amount of time available to get to your prospects. Your options are; change the plan; adjust the sales budget; add more sales representatives.

The Sales Cycle

Continuing a sales plan based upon the assumption of a two-call sales cycle when the market requires a three or four call cycle will take your sales plan out of reality.  The key to both a good marketing plan and a good sales plan is “reality.”  It is the FA or sales manager’s prime function to see that the sales organization is working in “reality” by constantly testing the basic assumptions of the sales plan.

The challenge to every financial services business owner, sales manager and every FA sales person is to stay focused on the prime objective of a sales person – processing the sale.  To maintain focus on the sales objective, the activities of a sales person should be looked at in two categories; “tasks” and “selling objectives.”  The tasks are those activities that all sales people are required to do to service clients – handle back-charges, warranty claims, stocking services, point of sale maintenance, etc.  The selling objectives are defined by the sales progression used in the sales strategy.

Processing the Sale

To give better understanding to this concept, consider the following.  If you find a local bank that offers a certificate of deposit that is paying a good return, and you put $10,000 on deposit, you have made an “investment.”  It is an “investment” because you expect your money back with a profit.  To find this investment opportunity you must be focused externally (not within your own business).  And, investments are a source of new capital.

If, on the other hand you take the $10,000 and purchase a car for your business, your focus is internal to your business, solving a problem of transportation, and you will only realize gain by reducing an existing or potential expense. You will not realize any new capital from this expenditure.  This use of the $10,000 is an “expense.”

Internal and External Focus

To generalize, if your focus is external and you are seeking to generate new capital by exploiting new opportunities, this is an investment.  If your focus is internal, and you are solving problems (the activities that come after the sale), the time and money spent is an expense.

Tasks and Objectives

Sales people sometimes lose sight of the difference between the “tasks” (internally focused after sales activities that are expenses to the company) and the sales “objectives” (opportunity seeking activity that will result in generating new capital through sales). Although we must service the task items, we can avoid “buying” the customer’s problem (forgetting that the customer’s problem is our opportunity).  The way we make sure we maintain focus on the opportunity rather than the problem – is to link every task with a sales objective. 

Management Reporting

Historically, we have asked sales people and FAs to report to management through an activity report that usually records the “task” items but ignores the opportunity items. To use the reporting system as a training and management tool, stop requiring the typical activity and expense reports.

Instead, ask your sales people fill out an “Opportunity” report and an “Investment” report.  It is true; “What gets measured gets improved!”  If you want your sales people to be externally focused and seek opportunities, investing in accounts rather than “solving problems” and spending money (“expense” items), measure and report on the opportunities and investments.  It is more positive to run an investment department for your business rather than a cost center.

Managing For Results

Peter Drucker observes that “… there are no profit centers in a business; there are only cost centers.”  The profits centers are external.  Again, quoting Drucker; “Results are obtained by exploiting opportunities, not by solving problems!”

Assessment

The above offering is intended to help financial advisors and sales people “manage” themselves, and for the sales people who have assumed the mantle of OSJ or “manager”, etc

Conclusion

And so, your thoughts and comments on this Medical Executive-Post are appreciated.

Speaker:If you need a moderator or speaker for an upcoming event, Dr. David E. Marcinko; MBA – Publisher-in-Chief of the Medical Executive-Post – is available for seminar or speaking engagements. Contact: MarcinkoAdvisors@msn.com 

Our Other Print Books and Related Information Sources:

Practice Management: http://www.springerpub.com/prod.aspx?prod_id=23759

Physician Financial Planning: http://www.jbpub.com/catalog/0763745790

Medical Risk Management: http://www.jbpub.com/catalog/9780763733421

Physician Advisors: www.CertifiedMedicalPlanner.org

Subscribe Now:Did you like this Medical Executive-Post, or find it helpful, interesting and informative? Want to get the latest ME-Ps delivered to your email box each morning? Just subscribe using the link below. You can unsubscribe at any time. Security is assured.

Link: http://feeds.feedburner.com/HealthcareFinancialsthePostForcxos

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Welcome Valued Vendors

Dear Colleaguesaward-cup2

Many thanks for reaching out to us.

Advertise with Us

If you want the opportunity to reach a personalized daily/weekly audience of health care industry insiders, innovators and watchers, the Medical Executive-Post may be right for you?

Movers-Shakers

We are discussed, read and viewed by medical students, physicians, dentists, podiatrists, optometrists and industry analysts; as well as healthcare administrators, financial advisors and planners, accountants, lawyers, office managers, CXOs, investors, Wall Street insiders and nurse-executives from health systems around the country.

Advertise with us and you’ll put your brand name in front of a smart & tightly focused Health 2.0 demographic; one at the forefront of our emerging healthcare marketplace of collaboratively informed, thought-leaders and professional “movers and shakers.”

 

Contact Us

And so, please feel free to contact us for additional sponsorship and/or advertising information.

www.HealthcareFinancials.wordpress.com

Thank you

Ann Miller

Executive Director

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