Many nurse practitioners have a hard time finding their niche service idea. Listen, it is one of the hardest parts of starting a side practice, but it is also the most important part. If you can come up with an idea that no one has ever implemented before, you could literally become a millionaire very quickly… but let’s get back into reality, most of us are wanting to do things like weight loss management, medical cannabis evaluations, men’s health, hormone replacement, etc. There is nothing wrong with that! I make a lot of money utilizing standard niche service lines. Others would prefer opening a standard practice like primary care, chronic disease management, etc. Well, you need to understand one critical aspect about pursuing what others are doing: YOU WILL HAVE COMPETITION. Expect it! It doesn’t matter if it is medical cannabis, men’s health, or primary care… you will have competition eventually.
So, how do you separate yourself from the competition? By doing common things uncommonly well. You must set yourself apart from the competition if you want to succeed.
You need to become the expert at the service you want to provide.
You must provide exceptional customer service and patient care.
You need to aim for having a 5-star Google rating with 50 reviews.
You need to develop a relationship built around trust with your patients.
You need to experience firsthand or through family what patients are going through.
YOU NEED TO BE THE OUTLIER, NOT THE NORM!
Patients will fly across the country to have an ACL repair done by a specific orthopedic surgeon. Why? Because they are the BEST at what they do.
Certain consultants are booked out for 6 months and clients are willing to wait for the next appointment. Why? Because they are the BEST at what they do.
There are athletic trainers that provide real results to their clients and they are excellent at marketing their talent. People will pay these trainers $1,000 an hour to provide them one on one training. Why? Because they are the BEST!
There are mega men’s health clinics out there. These are corporate entities that just hire providers to implement a cookie cutter protocol. These providers don’t understand the importance of testosterone to estrogen ratios, changing dosages incrementally, listening and understanding side effects and common symptoms in hypogonadal men. They just follow a protocol and go about their day. I understand men’s health and testosterone replacement. I am on it myself. I know what these guys are going through. I spend an hour with every one of my patients during the initial visit. We go through the blood work together. They have my cell phone, they can text me at any time. I have set myself apart from these doc-in-a-box men’s health practices. I do not worry about the competition. I do common things uncommonly well.
Do you want to open a weight loss practice? Do you plan on just prescribing phentermine and B12 injections? Well, if you are the only shop in town, then following a basic cookie cutter protocol will work. But be warned, once competition develops, you better find a way to set yourself apart!
Do you want to start a telemedicine primary care or sick visit practice? You have a lot of competition, so you better figure out a way to set yourself apart from that competition. This is why finding your target market and niching that idea is so important. Don’t provide services to the general population, provide them to a specific demographic (single mothers, quilters, etc.).
Too many nurse practitioners do not think about this concept. They think that people will just flock to their practice. Well, I am telling you a hard truth right now. You will not be very successful unless you figure out a way to set yourself apart from the competition. THIS IS CRITICAL.
My medical cannabis clinic is nothing special. It is a simple standard modeled practice. Why is my practice successful? Because I have the cheapest prices in the region. That is why people come see me, not because of my expertise with medical cannabis. Most people are self-medicating and don’t need guidance, they just need a medical card.
You do not have to reinvent the wheel. Just find a way to set yourself apart. Do common things uncommonly well and you will find success!