How we've helped MEDfacials
Dr Joe Stolte is a medical doctor working in the local hospital in Truro as part of the Acute GP team. They advise local GP’s on patients with complex issues to try and avoid them having to be admitted to hospital.
Joe says he always had an interest in skin diseases and hair diseases but it was when a family member had to go abroad to have treatment for hair loss after taking medication that he saw the need for the business. Gaining an Aesthetic Medicine degree from Queens University in London, he had the medical training, but the missing part was the business experience.
He got in touch with the Growth Hub as he noticed a significant increase in his customers and turnover, but realised that he didn’t know why that was, and he didn’t know his financial figures that well.
“What we are doing was really great for our customers, I just realised that from a business and marketing point of view, I needed some help.”
I realised that from a business and marketing point of view, I needed some help
How we helped
Joe was pointed in the direction of Unlocking Potential coaching to help him have a better understanding of his income, profit and cash flow forecast, helping him to plan for his expanding business.
Joe admitted he was not very good with marketing, laughing that not many Doctors are! From discussing this problem with the Growth Hub and other business support he decided to look at recruiting a person to do this aspect of the business so he can concentrate on the clinic.
“I now realise that I have to run my clinic as a proper business and not as a side-line.”
Joe sits down every week and looks over his figures, what treatments are popular and making a profit rather than waiting until the end of the year for the accountant to give a review of the finances. Having this regular oversight allows him to highlight where he has previously missed opportunities to target new customers and plan new avenues for growth.