One of the definitions of feedback is information about reactions to a product, a person’s performance of a task, etc. which is used as a basis for improvement. It is pretty much a given when selling your practice that you cannot please everyone. However, like all feedback in life it can potentially help you sell your healthcare practice, whether it be a physiotherapy, chiropractic, podiatry, psychology, osteopathy, speech pathology occupational therapy or other type of allied healthcare clinic.
So how can feedback help you? Below we will go through a couple of examples and then you can use this information to decide how you will deal with negative feedback in the best way possible.
A buyer has looked at your Sales Prospectus and has asked to view the financial information. Eyebrows are raised as when they look at the profit and loss statements as something does not add up and they lose interest. Their feedback is that the rent seems way too high compared to other surrounding premises. A common initial reaction to feedback like that is anger and or denial. It is fine if you don’t agree, however, feedback of this type is objective, as it is based on analysis and is fact based and if you get this same feedback several times over and don’t reassess, you are not listening. You are burying your head in the sand, especially when it comes from several different sources. Use this feedback to learn. After all, what is better? To sell for less than you initially wanted or close the doors of your practice.
A potential purchaser is interested, they like the Sales Prospectus, their accountant has reviewed the figures and given the go ahead. They are excited, until they inspect your practice and then suddenly come back saying they are no longer interested. The feedback is that the practice looks tired and is not suitable for their needs. Rather than throwing your arms in the air blaming and calling them a time waster, have a good look at your practice. Is it tired looking? Could it do with a coat paint? Did you do a thorough clean inside and out before the inspection? Why not use this feedback as a challenge and roll up your sleeves for a weekend of painting, cleaning and making the place look as good as you know it can. Again, whilst this feedback can be subjective and is based on personal opinions, if you are getting it more than once, you need to take it on board.
Don’t let pride get in the way and don’t be stubborn. If you are constantly getting the same feedback, it is time to sit back and listen. By seeing your practice from another’s perspective you can make decisions going forward and you are much more likely to sell your clinic.