Cameron Hemphill, host of the Medical Millionaire podcast, emphasizes the importance of maintaining a positive outlook and strategic approach for medical spas amidst economic uncertainties. Despite media fear-mongering about recession, he asserts that the medical esthetics market will thrive in 2023. Hemphill advises against cutting marketing budgets, hiring underqualified staff, or skimping on technology. Instead, he urges investing in quality EMR solutions, the latest technology, and doubling down on marketing efforts. He also stresses the importance of gratitude and changing one’s mindset from expectation to appreciation to foster a more fulfilling life and business success.

Transcript

This is medical millionaire the podcast, helping your Med Spa increase in status, visibility and profitability. Join your host as he dispels myths, shares trends and gives you actionable steps today that will take your medical practice to the next level. Here’s your host, expert marketer and founder of growth. 99 Cameron Hemphill,
Hey, what’s up, everybody? Cameron Hemphill, here your host for medical millionaire. I hope you guys are having an incredible week and an amazing start to 2023 I hope you’re having a wonderful outlook on life, whether that’s through the lens of your practice, your business, your family, your colleagues, the success, the finances, your faith, wherever it is, I want you to take the time to just reflect on all the success you had last year. And let’s put things into fifth gear, going into 2023 so I hope you enjoy our podcast. Our goal is to give incredible value and insight to the medical spa market, the esthetics market, Derm, plastics, dentistry, everything, healthcare, my team and I, we’ve consulted with some of the top medical esthetics providers throughout the country for years, and we can see trends. We see practices that thrive and can forecast revenues. We see practices that are starting to throw in the towel. They’re giving up. They’re giving up on their dreams. They’re giving up on the hope. And throughout this journey together, as we continue to talk to all of the practice owners around the country, and we continue to go to a tremendous amount of medical conferences, we hear things we invest in, things we incubate internally, everything that we hear, we talk about it, and then we push this content out to you. So throughout this journey, we want to help you and your practice get to the next level. And if you go back and listen to all of the historical episodes, this is all that we want to talk about. We interview some of very well key, well known individuals in this space. And we really just want to help. Okay, so as we look at 2023 it’s become clear when you turn on the media, all you hear is fear. All you hear is recession. All you hear is just like the world is ending. It’s getting annoying. Okay? I mean, I’m just gonna say it it’s getting old. It’s getting annoying. But then if you take the time to actually go experience life, go walk around, go to the grocery store, go to the airport, go to an event, people are living they’re living their lives. They’re spending money, they’re exchanging goods for services. And I’m telling you right now, in the world of medicine, the world of medical esthetics, it’s going to continue to thrive. Every data point that we have looked at when it comes to industry trends, the medical esthetics market is expected to grow this year, even with all of the doom and gloom that you hear on social media and that you hear when you’re listening to the news the radio or whatever you’re listening to, okay. My challenge for you is to focus on you. My challenge for you is to go to fifth gear. My challenge for you is to get better, sharpen your saw and continue to thrive. There will be individuals that own practices, that retract, they will get duped into thinking what is going to happen. Amazon has layoffs, Microsoft has layoffs, Google has layoffs. All of these layoffs are happening in big tech. What’s going on? The stock market was down 20% the S, p5, 122 the real estate market is going to fail. Interest rates are rising. Just look at history. What happened in 2021 we hired a tremendous amount of under qualified people in tech. They have to lay them off. They over hired, and the salaries are outrageous. Okay, they’re too much. So if you look at what’s happened, they have to reduce staff, they might go back and rehire some of the people that they’ve laid off at half of the price. Okay? And the stock market, actually, over the past few days, is done pretty well. It’s been up, and there’s a reason for that, because the stock market actually trades on futures. Okay, so what do I bring this up to you? I bring this up to you because. Think it’s very important right now to look back at history. Reflect, did you have a great year in 2022 okay, 2022 the stock market had a horrible year, one of the worst years of all time. How did your business do? Did you even pay attention to it? Okay? The real estate market was doing like this amazing thing through COVID, all the appreciation, people could sell their houses for whatever they wanted, and then interest rates rise, and everybody thinks, oh my gosh, the real estate market’s gonna crash, right? And of course, it’s gonna retract a little bit, right? Because if you look at the average like mortgage payment on a $400,000 house today versus a couple years ago, by having a 6% rate versus three, it brings some people out of the market. Okay? It’s a healthy thing. There has to be a recalibration. Okay, so I want everybody to just realize that when you look at 2023 you need to focus on yourself. You need to live inside of your mind and not let your mind start playing these war games based upon outside environments. Okay. Do you have a loyal clientele? Are you following up with them? Are you continuing to provide service? Are you investing in marketing? What are you doing right now that’s going to put you in a position to win? Okay? Because I see a lot of practices right now that are scared, and I see ones that are retracting. I see them spending less money on marketing. I see them like ditching very great quality EMR solutions, for discounted EMR solutions, I see people hiring under qualified staff or outsourcing things that they shouldn’t do, or maybe they’re not buying the latest and greatest technology. Maybe they decided not to go to conferences this year, okay, because it’s expensive. The ones that do go, the ones that do invest in themselves, the ones that do double down, are the ones that are going to take the market share. All of the top practices that we work with right now have connected with us, and we’re at growth 99 you guys know that if you’re just tuning into this podcast for the first time, you can go back and look at that. We don’t try to sell any services. This is all about giving value to you guys. But just a little bit of advice. The ones that we talk to on a daily basis, the ones that are leading the pack and have continued to lead the pack for years, they’re doubling down on their marketing. They’re doubling down on who they’re bringing in their practice. They’re raising some of their prices, and they’re being strategic, because they’re investing in themselves, and they’ve blocked out the noise. Winners win. Okay? And that’s how, that’s how that they’ve looked at it. They’re gonna double down on social media posts. They’re gonna double down on podcast creation. They’re going to double down on Facebook ads, Google ads, Instagram ads. They’re going to make sure that their website is humming. They’re going to make sure their SEO is humming there. They know that there is going to be some consolidation that takes place. There’s going to be some people that retract and maybe some medical esthetics practices close their doors because, hey, maybe they shouldn’t have opened their doors in the first place. Right? Running a practice takes a tremendous amount of work, there’s overhead, there’s margin, there’s expense, there’s insurance, there’s lease payments, there’s all this stuff, right? So I think if you look at social media, and if you look at what’s happened, I think there’s a lot of people that have worked at practices historically and had lots of success, and they wanted to go open up their own practice, and maybe they got hit with a big reality check, like, wow, this is different than just injecting all day and getting paid very well, okay? And I’m not saying that’s not what you should do. Like, if you’re an entrepreneur and you want to grow a practice and grow a business, go for it. Like, go all in. Because the ones that do and the ones that prevail, they see success, and they believe in themselves, and they create this iron clad confidence, and they know that they are the ones that are going to achieve and win. Okay, so that’s what I’m trying to convey, is look at history, reflect, see what you’re doing right now and double down. Most successful businesses always start in a down market,
and it’s creating an opportunity that is so great right now that it will put the people that retract out of business, and the people that actually see an opportunity, because there’s a lot of times right now where people all they can see is fear. They have the blinders on. They see fear, fear, fear, fear. Okay? They start tighten up their budgets. They start tightening up everything, when really they should. Be investing. And they should have taken that capital that they have done so well on in 2022 2021 and 2020 and taken some of that money and invested for a year like this year, okay, to the ones that double down and the ones that are gonna prevail. And it’s interesting, when we are talking to different practices, the ones that just know like that, they just, they just know that, oh, I don’t, I don’t even watch the news. I don’t know. I don’t care. I mean, I’m focused on me. This is my business plan. This is what I’m gonna do this year. This is the shows I’m gonna go to. This is who I’m gonna talk to. These are the academies I’m gonna go to. These are the side businesses that I’m going to attach to my business, that I’m going to go to. These are the new services that I’m going to bolt on like, this is, this is what we’re doing. I don’t know what everybody else is doing, but I’m just focused on me, right? And so the people that do that are the ones that put themselves in a position to win. I
i Thank you for listening to medical millionaire. I wanted to take just a few short moments and tell you all about growth 99 University, naturally, if you’re listening to medical millionaire, the success of your Med Spa is extremely important to you, and as it should be. And if you’re listening to medical millionaire, you are obviously looking for the best, most effective ways to take your Med Spa to the next level in both profit and customer success. Enter growth 99 University ranging from online education courses all the way to the full suite of marketing and web services. Growth 99 has your Med Spa covered, no matter the challenges that you’re facing, we are ready and able to help you achieve your next level in business profit and freedom to inquire about all of our support services and products. Please visit growth 90 nine.com and while you’re there, click the university link and check out the companion course to this very podcast. Back to the show.
So I want to pivot for a second, and I want to talk about the second component to this. And really it comes with change, expectation, with appreciation. And I think a lot of times that gets overlooked. And I’m going to say that again, change your expectation with appreciation. There is a lot of good people in this world. And I think right now you can see, like, you know, there’s all this interesting information on on media outlets, right? And you can sense some something that’s good and something that’s not, that’s not right. So if you can just change that mindset with anybody that you have hired, any device that you’ve invested in, any course you’ve invested in, anywhere that you are involved in a networking group, any vendor relationship you have, any employee relationship with. You have colleague, friend, family, kids, spouse, really like if, if you can start looking through the lens of having an appreciation for everything that these people are doing for you, instead of expectation, expectation, expectation in just drilling people constantly, you will live a more fulfilled life.
You will learn to love life more.
You can take a moment to actually see the beauty that surrounds you. You can learn to be thankful again. You can learn to walk with gratitude and have meaning in your life and understand that things happen for you. They don’t happen to you. So if you’ve ever been in a spot where you’re like, Ah, man, why does it always happen to me? Why does it always happen to me? It happens to you. It happens for you. Okay, the reason it happens for you is because it’s now you haven’t learned. You haven’t learned it yet. So it’s happened for you so you can learn. Life is about consistently learning. You go through life and you learn things, and you learn things, either through easy challenges or hard challenges. And as you continue to evolve, grow your business, grow your mind, grow wherever you want to get to. You’re going to be faced with challenges, and you’re going to enter new territory every day, every week, every month, and you’re going to be faced with challenges, and that’s the whole point. So have gratitude throughout those challenges. Life is bigger than the current moment. Understand that that current moment or that current frustration. It’s a moment. Take a step back. Breathe. All good. This too shall pass, right? And really zone on that. Say, think big picture, long term instead of in that moment. Not what’s happening to you now, what’s happening for you, so you can become more successful later. Okay, and if you want to pause this right now and look back on last year, what happened not to you, but for you, that was a blessing in disguise. I
mean, I could name like 10 things on the top of my head,
and I could say, oh, that happened. Why does it always happen to me? Why does it happen to me? No, no, it happens for you because you entered new territory. You tried something different. Either it worked or it didn’t work, and if it didn’t work, you learned not what to do. It happened for you. Okay? And if you don’t take the time to change expectation with appreciation, you’re going to be that grumpy person that rocks around. You know, people are going to want to leave your surroundings, and you’ll only eventually just see the ugly, like the doom and gloom versus the Great. You’ll only like your mind will shift and it will just see everything negative. Every single thing becomes negative because that’s all you can see. And the reason why I bring this up on that quick pivot was because it’s, it’s like the media is like, almost like, infused this current situation of fear, doom and gloom, recession, interest rates, housing market boom, layoffs, you know. And then, if you’re, if you’re injecting that information into your life and into your soul, you’re going to have that negative outlook. You’re going to retract they’re going to get you with the fear tactic. However, if you can block that out, go outside. The sky is blue. Birds are flying. People are walking around. There is heartbeats that are taking place. People are spending money. People are traveling on airplanes. Okay? We’re going to the am spa conference here next week. They’re supposed to have the biggest attendee list and they’ve ever had. And I’m actually more excited for this show than I ever have been in the past. This will be our fourth year in a row going this show has gotten bigger and bigger and bigger every year. There was odd times when we had to go during COVID, and there’s all these restrictions, and it was challenging. And again, I could have said, wow, why does this happen to us? Why do we have to go through COVID in this area at this era, it happened to you. Happened for you. I mean, we learned a lot. If you can look at it like, what did you learn from that experience? You know, like, Heck, whoever got through that can get through anything, you know, like, I remember we were talking to practices, man, and it was, it was just nuts, because no one knew what to do, close the doors, open the doors. Have to change. Like, there were some people that came out of COVID just like, iron clad, like, okay, cool. Like, I went through this virus thing, and I’m here, life’s good. And there’s other people that really struggled. And look, I can, I can get, there’s different market conditions, or there’s different economic understandings for different individuals in different areas, and stuff like that. But I’m also a true believer that everybody was put on this planet to do something great, and if you are not taking advantage of your internal greatness, that’s on you. It’s on you. If you sit back and you just judge everybody, and you think things happen to you, not for you, and doom and gloom. And I better not do this. And, ooh, I don’t know if I should go there, and I’m kind of scared to try that. And, oh, I was in this Facebook group, and I don’t know, maybe I shouldn’t do that. Like, block out the noise and just go do it. You know, start start reading positive things, start investing in positive energy. Start communicating with people that bring joy, that smile, that laugh, that maybe crack a joke. You know, like, take the time to just like, look back. Like, if you have kids, look at them like, I don’t know, there’s, I have two little two daughters, and there’s some times where I’m having a rough day or whatever. I just look at my kids. I mean, they bring the biggest joy to my life. It’s crazy, because kids are cool, like they they are the they truly look at life and they live life to the fullest. It’s, it’s funny, I have a six year old daughter. Every time she does something, she runs, like, I’ve noticed, like, every time, like, if she has to go to the kitchen to get something, or the bathroom to do something, or outside to get something, she’s running, she’s she’s just running. You know what I mean? Like, it’s because she’s just so excited to, like, get whatever. She needs to get and go wherever she needs to go. Like, there’s so much to do. I gotta run. I gotta run. I gotta run. Have you noticed that, like, take the time to watch your kids. They run everywhere. It’s hilarious. Like, if you’re like, man, they that’s they don’t really walk. Like, they don’t really walk, you know? And I think when they start to slow down is when we tell them, stop running. Stop moving too fast. Stop, you know, stop, stop, stop, stop. And eventually their dreams just become taken from them, you know. So kids are really cool in that, like, if you want that inspiration, like, just, just, if you don’t have kids, you know, you can go to, like, go visit your nieces, nephews or whatever, you know, grandchildren or whatever. Or if you don’t have, like, go to the park, these kids are incredible. They live life, you know, because they haven’t been sucked in to the fear tactic, right? And if you can kind of look through their lens a little bit, that’s that can help you in a tremendous way. And then, as you’re an adult and you’re in the medical esthetic space, right, like just reflect on the positive and invest in yourself, because no one can take that from you. Nobody can the TV, can’t the social media can’t. No one can wake up early, exercise harder, eat healthy, beat everybody to the office. Learn how to do social media. Stop being vulnerable. Learn how to create a podcast. Learn how to give value. Learn how to beat, you know, get more reviews on your practice than anybody ever has in your entire town. Double down on your Facebook ads. Double down on your Google ads. Build the best website possible, buy the best device, learn from the best study, from the best there’s some of the top injectors out there that have built academies and that you can just like, like, cut through all the bullshit and just go hire them and they’ll teach you how they did it. Just go pay the money and skip, you know, like, I mean, what they’re going to teach you is, like, the 10 years, or the five years on what it took for them to get to where they are, just go buy that time. Like, time is the most valuable asset on planet earth. Why not just go buy that time? You know, I could look at it at any angle, right? So like, Okay, you want to go, you want to open up a practice right now, I love it. Go for it. Go all in. You know? Why not? It’s a great time to take market share. All right, guys, I appreciate it. Thank you so much for turning into medical millionaire again. My name is Cameron Hemphill. If you found this content valuable. Please share it. Let’s keep the conversation going until next time happy and checking you.