How To Start A Dermatology Business

You've stumbled upon the idea to build a dermatology business and now you're ready to take the next steps.

There's a lot to think about when building a business, so we put together a guide on how to get started, launch, grow and run your dermatology business.

We also provide you with real-life case studies and examples of founders running successful dermatology business (and how much💰 they're making today).

💡 Introduction To Starting A Dermatology Business

Is Starting A Dermatology Business Right For You?

There are many factors to consider when starting a dermatology business.

We put together the main pros and cons for you here:

Pros of starting a dermatology business

• Flexibility

You can put as much time into the business as you'd like. If you like the work and have some initial experience, you can start small and manage all aspects of the business on your own.

• Rewarding work

Starting a dermatology business can be really rewarding work. After all, you are solving an immediate issue for your customer and you're working on something you truly care about.

• Meaningful business connections

You never know who you will meet as a dermatology business. This could be the start of an incredible business opportunity!

• High customer retention rates

Once a customer invests in your product, they've invested their time and energy to utilize your product/service which is highly valuable to them. Typically, your product or service becomes indispensable to your customer.

• Control of workload

With starting a dermatology business, you have the unique ability to choose how little or how much you want to work. You also have the freedom to decide which projects you want to work on, and can turn down the ones that do not interest you.

• Gain exposure and experience

This career allows you to gain experience working for multiple different businesses - which will benefit your resume and also keep things interesting for you!

• Unlimited income potential

With starting a dermatology business there is no cap as to how much income you can make. The stronger your business skills and the more energy/time you put into your career, the more you'll make.

• You are your own boss!

With starting a dermatology business, you are the one to make decisions for almost all of the operations. Calling the shots can be empowering and liberating!

• Predictable income stream

Your businesses income stream tends to be predictable based on the number of customers you have signed up. This makes financial planning and outlooks much more seamless!

• Higher likelihood of getting referrals

This business is all about referrals, which can be a a very impactful way to attract and retain customers. It's critical that you have a great referral program in place that incentivizes your customers to tell their friends about your product.

• Simple business model

A dermatology business has the advantage of a simple business model, which makes launching and building the business more seamless.

• Control your own destiny

Starting A Dermatology Business allows you to control every aspect of your life and make your own dreams come true every day.

• Greater Income Potential

With this business, the sky is the limit in regards to your income potential.

• Express your opinions

With starting a dermatology business, you can express your opinions and knowledge to your audience, which allows you to build your own reputation and identity.

• You get to inspire others

Your business is one that encourages and inspires others, which in itself, can be very fulfilling.

• You establish yourself as an expert

With starting a dermatology business, you establish yourself as an expert in your niche, which builds your credibility. In return, customers are more likely to trust you and refer you to other friends and family.

• Can build solid foundation of clients

It's unlikely you will have one-off customers as a dermatology business. Typically, you have a solid foundation of clients that use your product and services regularly.

• Low maintenance customers

In this industry, customers are known to be very appreciative and low maintenance. This can help with your stress levels and allow you to focus on growing your business.

• Results and revenue happen quickly!

Unlike other businesses, it can be relatively quick to start seeing results and revenue. As long as you follow all the steps to validate your idea before launch, you are likely to see quick results and ROI.

Cons of starting a dermatology business

• Motivation of employees

If you plan to have a sales/content team on board, finding creative ways to motivate them can be a challenge. It's important that you're able to offer great incentives and a good work environment for your employees.

• Low margins

The gross margins for your dermatology business are typically around 24%, which can make it more challenging to incur new expenses and maintain profitability.

• Niche Market

A niche business is not necessarily a bad thing, in fact, it can be the key to your success. However, it can be more challenging and time consuming to find the perfect niche market and target audience.

• High overhead expenses

With starting a dermatology business, there are overhead expenses that come with selling a physical product. You will want to make sure you strategically budget for these overhead costs. We discuss this more in the startup costs section below.

• Churn

In this business, customers can cancel their membership or subscription for your services - which can make revenue forecasting challenging and unpredictable. It's important to focus on your churn rates and trends so that you can prevent this as much as possible.

• Time commitment

With starting a dermatology business, all responsibilities and decisions are in your hands. Although this is not necessarily a negative thing, work life can take over at times. This can place a strain on friends and family and add to the pressure of launching a new business.

• Difficult to build trust with your customer

With starting a dermatology business, there can be minimal face-to-face interaction, which means it can be a lot more difficult to establish trust with your customers. You'll need to go the extra mile with your customer to grab their attention and business.

• Impatient customers

You may offer an engaging user experience for your customer, but customers expect a lot and may be impatient if they aren't pleased with your product or service.

• You might struggle financially (at first)!

If you bootstrap your business or choose not to pay yourself (or pay yourself less than you were making at your corporate job), this can be financially taxing. It's important to adjust your lifestyle and set a plan for yourself so you don't find yourself in a stressful situation.

• Difficult to scale

With a dermatology business, it can be challenging to find ways to scale. Check out this article that discusses scaling your business and the challenges that come with it.

• Learning Curve

When you start your own business, you no longer have upper management to provide you with a playbook for your roles and responsibilities. You should know the ins and outs of every aspect of your business, as every decision will come down to you.

• Equipment Breakdowns

Over the years, your equipment can get damaged, break down, and may need repairs which can be expensive. It's important you prepare for these expenses and try to avoid damages/wear & tear as much as possible.

• Technical issues can be frustrating

Technical issues are common in this business. If you struggle with the technical side of things, you may want to consider outsourcing this responsibility to save yourself the time and frustration.

• More challenging to earn passive income

It can be more of a challenge to make passive income in this business. Often times, the amount of revenue you bring in is limited by the amount of time you have in the day.

Players

Big Players

• Columbia University (2.27K Alexa Ranking)
• American Academy of Dermatology (34.2K Alexa Ranking)
• Galderma (169K Alexa Ranking)
• Forefront Dermatology (274K Alexa Ranking)
• LEO Pharma (459K Alexa Ranking)

Small Players

• ProMD Health - Revenue $1M/month

Search Interest

Let's take a look at the search trends for dermatology services over the last year:

How To Name Your Dermatology Business

It's important to find a catchy name for your dermatology business so that you can stand out in your space.

Here are some general tips to consider when naming your dermatology business

• Avoid hard to spell names: you want something easy to remember and easy to spell for your customers
• Conduct a search to see if others in the space have the same name
• Try not to pick a name that limits growth opportunities for your business (ie. if you decide to expand into other product lines)
• As soon as you have an idea (or ideas) of a few names that you love, register the domain name(s) as soon as possible!

Why is naming your dermatology business so important?

The name of your business will forever play a role in:

• Your customers first impression
• Your businesses identity
• The power behind the type of customer your brand attracts
• If you're memorable or not

It's important to verify that the domain name is available for your dermatology business.

You can search domain availability here:

Although .com names are the most common and easiest to remember, there are other options if your .com domain name is not available. Depending on your audience, it may not matter as much as you think.

It's also important to thoroughly check if social media handles are available.

As soon as you resonate with a name (or names), secure the domain and SM handles as soon as possible to ensure they don't get taken.

Here's some inspiration for naming your dermatology business:

• My Aesthetics check availability
• Silk Touch check availability
• Feather Soft check availability
• Skin Flex check availability
• Evened check availability
• Derma Bright check availability
• Silk Texture check availability
• Gentle Touch check availability
• Perfect check availability
• Glow Reflect check availability
• T-Zone check availability
• Freckles check availability
• Thin Layer check availability
• Pampered check availability
• Pretty check availability
• DermaShine check availability
• Pleased check availability
• Oily Pore check availability
• Pink check availability
• Bright Blue check availability
• Glow check availability
• Luminous check availability
• Micro Beads check availability
• Royal check availability
• Lady Like check availability
• The Gentle check availability
• Harmonic check availability
• The Silky check availability
• Hyaluronic check availability
• The Usual check availability
• Mirrored check availability
• Soothed check availability
• Essential Vitamin check availability
• Valet check availability
• Derma Buttter check availability
• Glass check availability
• DermaTox check availability
• Simple check availability
• The Sleek check availability
• Silver Lining check availability
• Derma Dynamics check availability
• The Scrub check availability
• Facial Balm check availability
• Better Texture check availability
• Natural check availability
• Toned check availability
• Dewy Pleasure check availability
• Facial Wipe check availability
• Bare Face check availability
• Spotless check availability
• Developed check availability
• Skin Solution check availability
• Cosmo check availability
• Steam check availability
• Graceful check availability
• Ideal check availability
• Absolute check availability
• Unblemished check availability
• Pure Touch check availability
• Concealed check availability
• Better Pores check availability
• Picture Perfect check availability
• My Perfectionist check availability
• Untouched check availability
• Bye-Impurities check availability
• Identical check availability
• Heavenly check availability
• Beauteous check availability
• Perfect Absorber check availability
• Majestic check availability
• The Derma Genie check availability
• Clear Me check availability
• Perfect Glance check availability
• Glaze check availability
• Beautified check availability
• Pelt Collective check availability
• Canine Pediatrics Co check availability
• Scaly Shin check availability
• Cosmetic Gynecology Trading Co check availability
• Diagnostic Doctor Of Osteopathy check availability
• Thick Bark Place check availability
• Scrape Group check availability
• Scrotal Shinny check availability
• ComparativeDermatology check availability
• Hippocratic Medication Group check availability
• Hairless check availability
• Sediment Medicine check availability
• Harrison Medicine check availability
• OilySkin check availability
• BadMedicine check availability
• The Cool check availability
• Psychosomatic Medicament Group check availability
• YellowSkin check availability
• OliveSkin check availability
• Smooth check availability
• Industrial Doctor check availability
• Abrade Collective check availability
• ComplementaryMedicine check availability
• The Socialized Practice Of Medicine check availability
• Mainstream Medication Place check availability
• Based check availability
• Complementary Medical Co check availability
• Historiography Dermatology check availability
• Aquatic Immunology Pro check availability
• ValuableMedicine check availability
• Quantitative Ophthalmology Spot check availability
• Deficit Medicine check availability
• Sedative Medicine check availability
• Molecular Doctor Trading Co check availability
• Pigmented check availability
• Medical Place check availability
• Scrape Trading Co check availability
• The Pigmented Bark check availability
• ForensicMedicine check availability
• EgyptianMedicine check availability
• The Smooth check availability
• Medieval check availability
• The French check availability
• The True Pelt check availability
• Wobbly Dermatology check availability
• Choreography Dermatology check availability
• Animosity Dermatology check availability
• Sheep check availability
• Hide Collective check availability
• Doctors Collective check availability
• Shiny Shinny check availability
• Equine Rheumatology check availability
• Scrape Co check availability
• Anatomically Dermatology check availability
• HardSkin check availability
• The Surgical check availability
• Medicate Group check availability
• Medicament Trading Co check availability
• Orthodox Medicate Group check availability
• Patent Medicament check availability
• Scaly Struggle check availability
• Preventative Medicament Place check availability
• The Physical check availability
• The Like check availability
• Psychosomatic Medical check availability
• Day Dental check availability
• Phylogeny Dermatology check availability
• Consciously Dermatology check availability
• Transparent check availability
• The Complementary check availability
• Modern Medication check availability
• Botanical check availability
• AdolescentDermatology check availability

Read our full guide on naming your dermatology business ➜

How To Create A Slogan For Your Dermatology Business:

Slogans are a critical piece of your marketing and advertising strategy.

The role of your slogan is to help your customer understand the benefits of your product/service - so it's important to find a catchy and effective slogan name.

Often times, your slogan can even be more important than the name of your brand.

Here are 6 tips for creating a catchy slogan for your dermatology business:

1. Keep it short, simple and avoid difficult words

A great rule of thumb is that your slogan should be under 10 words. This will make it easy for your customer to understand and remember.

2. Tell what you do and focus on what makes you different

There are a few different ways you can incorporate what makes your business special in your slogan:

• Explain the target customer you are catering your services towards
• What problem do you solve?
• How do you make other people, clients, or your employer look good?
• Do you make people more successful? How?

3. Be consistent

Chances are, if you're coming up with a slogan, you may already have your business name, logo, mission, branding etc.

It's important to create a slogan that is consistent with all of the above.

4. Ensure the longevity of your slogan

Times are changing quickly, and so are businesses.

When coming up with your slogan, you may want to consider creating something that is timeless and won't just fade with new trends.

5. Consider your audience

When finding a catchy slogan name, you'll want to make sure that this resonates across your entire audience.

It's possible that your slogan could make complete sense to your audience in Europe, but may not resonate with your US audience.

6. Get feedback!

This is one of the easiest ways to know if your slogan will be perceived well, and a step that a lot of brands drop the ball on.

Ask friends, family, strangers, and most importantly, those that are considered to be in your target market.

Here's some inspiration for coming up with a slogan for your dermatology business:

• Making your skin silky smooth
• For a better-looking skin
• The dermatologists that care
• More than just another derm clinic
• We make your skin superbly amazing
• Highly-trained and reliable dermatologists at your service
• Providing you with the best derm services
• The derm clinic that cares
• We live and breathe great skin
• For irresistibly smooth skin
• The best derm practices just for you
• Great skin that truly impresses
• You'll never be ashamed anymore of your skin
• Solving skin problems in the best way possible
• Skin problems no more
• The derm clinic that you can trust
• Count on us on making your skin better
• Amazing skin starts with us
• The best skin treatments made available for you
• We make great skin happen
• The best skin starts with us
• Your trusted derm clinic
• Perfect skin until the end of time
• Flawless skin is what matters
• Our advocacy is to give you a perfect skin
• The quest to have the best skin is here
• The epitome of having a great skin
• Flawless skin made possible
• Our mission is to give you a clear skin
• We promise you a clear skin
• Let your skin standout
• Beauty starts with the skin
• The road to a perfect skin
• The advocates for flawless skin
• Safe and effective methods to enhance your skin
• Tropical And Comical
• Psychological Medicine, We Take Care Of You!
• Dermatology Loaded For Bear.
• Position Of The Endocrinology
• Clinical Eye Doctors Are What We Do
• Normal And External
• Jesus Loves Medicine.
• You'll Look A Little Lovelier Each Day With Fabulous Pink Medicine.
• You Can On A Dermatology, Can Do!
• Don't Leave Your Skin At Home.
• You're Never Alone With A Skin.
• Dermatologies With Patient
• Medicines With Approach
• Dermatology Just What The Doctor Ordered.
• Traditional Doctors, Preventive Music
• White Struggles Are What We Do
• Medicine Know-How.
• Dermatology Is Better Than Chocolate.
• Lnvestigative Plastic Surgeons Are What We Do
• Red Hot Skin.
• Plastic Surgeon Is What We Do
• Work Hard, Cure Harder
• Herbal Telemedicines Are What We Do
• Schhh... You Know Medicine.
• Veterinary Practice Of Medicines Are What We Do
• Work Hard, Touch Harder
• Skin New And Improved.
• Skin The Best Of The Litter.
• Medicine, Your Family Will Love You.
• Psychosomatic Drugs, Traditional Drugs
• Skins With Skin
• Swing Your Medicine.
• Soft Skin, Let's Get To Work
• Base Of The Peel
• Ribbed For Her Skin.
• You Don't Want Skin As Your Enemy!

The Consulting Business Model

When implementing a consulting business model, you have a number of approaches to choose from:

Here are a few of the most common consulting business models:

1. The Time-Based Model

This is one of the more traditional consulting business models - where your rate, terms, and scope of work are outlined at the very beginning of the project.

Typically, with this model you would choose a day rate or an hourly rate.

2. The Project-Based Model

With a project-based model, you and your client agree on the scope of work you will be performing for a set amount of money.

There is typically a contract in place which covers the deliverables and expectations from both parties.

3. The Retainer-Based Model

The retainer model involves providing ongoing service for your clients over a specific period of time.

You may not provide a specific deliverable for your client, but instead, a broad scope of work over a set period.

4. The Consulting-Firm Model

This model is becoming more and more popular. The consulting firm model involves hiring freelancers or employees to complete work for your clients on your behalf.

Typically, in this situation, you still manage the relationship with the client, but you delegate some or all of the work to your team.

Which model should you choose?

The best way to determine which business model you will choose is to research other entrepreneurs or agencies in your space that are offering the same or similar service.

This will allow you to identify your competition, set your pricing, and determine your target audience.

Learn more about starting a dermatology business:

Where to start?

-> How much does it cost to start a dermatology business?
-> Pros and cons of a dermatology business

Need inspiration?

-> Other dermatology business success stories
-> Examples of established dermatology business
-> Marketing ideas for a dermatology business
-> Dermatology business slogans
-> Dermatology business names
-> Dermatology business Instagram bios

Other resources

-> Dermatology business tips

🎬 How To Start A Dermatology Business

How Much Does It Cost To Start A Dermatology Business

If you are planning to start a dermatology business, the costs are relatively low. This, of course, depends on if you decide to start the business with lean expenses or bringing in a large team and spending more money.

We’ve outlined two common scenarios for “pre-opening” costs of starting a dermatology business and outline the costs you should expect for each:

• The estimated minimum starting cost = $62
• The estimated maximum starting cost = $43,547

Startup Expenses: Average expenses incurred when starting a dermatology business.	Min Startup Costs: You plan to execute on your own. You’re able to work from home with minimal costs.	Max Startup Costs: You have started with 1+ other team members.
Office Space Expenses
Rent: This refers to the office space you use for your business and give money to the landlord. To minimize costs, you may want to consider starting your business from home or renting an office in a coworking space.	$0	$5,750
Utility Costs For Office Space: Utility costs are the expense for all the services you use in your office, including electricity, gas, fuels, telephone, water, sewerage, etc.	$0	$1,150
WiFi & Internet: Whether you work from home or in an office space, WiFi is essential. Although the cost is minimal in most cases, it should be appropriately budgeted for each month!	$0	$100
Total Office Space Expenses	$0 (min)	$7,000 (max)
Employee & Freelancer Expenses
Payroll Costs & Fees: Payroll cost means the expense of paying your employees, which includes salaries, wages, and other benefits. This number depends on if you decide to pay yourself a salary upfront and how many employees you have on payroll. At first, many founders take on all responsibilities until the business is up and running. You can always hire down the road when you understand where you need help. Keep in mind, if you do plan to pay yourself, the average salary founders make is $50K.	$150	$250
Employee Hiring Expenses: Apart from payroll and benefits, there are other hiring employees costs. This includes the cost to advertise the job, the time it takes to interview candidates, and any other turnover that may result from hiring the wrong candidate.	$1	$2
Employee Rewards: It's vital to acknowledge and reward workers, whether they hit their goals or do a great job. This does not have to be costly. In fact, simply taking workers out to a meal or giving a gift or bonus is among the many ways to show how the worker is valued!	$0	$100
Total Employee & Freelancer Expenses	$151 (min)	$352 (max)
Website Costs
Website Builder: The cost of your website will vary depending on which platform you choose. There are many website builders on the market, so it's important you choose the right one for your business and overall goals. To learn more about your options + how to build a great website, check out this article.	$10	$500
Web Designer: Web design includes several different aspects, including webpage layout, content creation, and design elements.If you have the skills and knowledge to design your website on your own, then outsourcing this to an expert may not be necessary. There are plenty of other ways you can design a beautiful website using design tools and software.	$200	$6,000
Domain Name: Your domain name is the URL and name of your website - this is how internet users find you and your website.Domain names are extremely important and should match your company name and brand. This makes it easier for customers to remember you and return to your website.	$12	$200
Business Email Hosting Service: An email hosting runs a dedicated email server. Once you have your domain name, you can set up email accounts for each user on your team. The most common email hosts are G Suite and Microsoft 365 Suite. The number of email accounts you set up will determine the monthly cost breakdown.	$1	$15
Website Hosting Costs: Server hosting is an IT service typically offered by a cloud service provider that hosts the website information and allows remote access through the internet. A hosted server can help you scale up and increase your business’s efficacy, relieving you from the hassles of on-premise operations.	$0	$300
Website & Live Chat Tool: If your business values high-end customer service, you must consider utilizing a website chatbot. Website chatbots play a pivotal role in converting site visitors into long-term customers. Typically, there are different tiers of pricing and features offered by Live Chat service providers.	$0	$200
Total Website Costs	$223 (min)	$7,215 (max)
Business Formation Fees
Small Business Insurance: Depending on which state you live in and the business you're operating, the costs and requirements for small business insurance vary. You can learn more here.	$500	$2,000
Permit and License Fees: Depending on your industry, there are certain licenses and permits you may need in order to comply with state, local, and federal regulations. Here is an article that goes over all the permits and licenses you may need for your dermatology business.	$50	$700
Trademark: Filing trademark registration will protect your brand and prevent other businesses from copying your name or product. USPTO has several different types of trademarks, so the cost to apply can vary (typically anywhere from $400-$700).	$0	$700
Lawyer Fees: Although you may want to avoid attorney fees, it's important that your business (and you) are covered at all costs. This comes into play when creating founder agreements, setting up your business legal structure, and of course, any unforeseen circumstances that may happen when dealing with customers or other businesses.	$0	$1,500
A Patent: Patents provide protection against others stealing or selling your idea.Securing a patent can be very valuable, but it's important that you are 100% sure this will be a smart business move for you, or if this is something to consider down the line.The process of securing a US patent can be both lengthy and pricey, and typically includes filing an application with the USPTO.	$5,000	$15,000
Set up business: LLC & Corporations: The first step in setting up your business is deciding whether your business is an LLC, S Corp or C Corp. The cost for this depends on which state you form your business and which structure you decide on. We put together an article that goes over the 10 Steps To Setting Up A Business.	$50	$500
Total Business Formation Fees	$5,600 (min)	$20,400 (max)
Equipment & Supply Expenses
Cleaning Supplies: Cleaning supplies are essential products we used daily at home and in almost all places worldwide. These items are used to effectively and safely remove dirt and germs to control allergens and prevent the spreading of contagious diseases, helping us stay healthy.	$63	$200
First-aid Equipment: First-aid kits can be bought as a set if not gathered one by one. These are vital in all places of work, homes, and even in cars, especially when you plan to travel or go camping. So, to protect your workers, clients, and kinsfolks, you must always keep a well-stocked first-aid kit handy.	$3	$500
Total Equipment & Supply Expenses	$66 (min)	$700 (max)
Software Expenses
Design Programs & Software: These programs might include the Adobe family of design tools: Photoshop, Illustrator, InDesign and others. This is typically a monthly subscription ranging from $10-$50/mo.	$0	$50
Email marketing tool: If you plan to grow your email list and email marketing efforts, you may want to consider investing in an email marketing platform (ie. Klaviyo, MailChimp). We put together a detailed guide on all of the email marketing tools out there + the pricing models for each one here.	$0	$100
IT Support: IT support installs and configures hardware and software and solves any technical issues that may arise.IT support can be used internally or for your customers experiencing issues with your product/service.There are a variety of tools and software you can use to help with any technical issues you or your customers are experiencing. This is a great option for businesses that do not have the means to hire a team of professionals.	$150	$2,000
Accounting & Invoicing Software: It's important to have an accounting system and process in place to manage financials, reporting, planning and tax preparation. Here are the 30 best accounting tools for small businesses.	$0	$50
CRM Software: CRM (customer relationship management) software system is used to track and analyze your company’s interactions with clients and prospects. Although this is not a necessary tool to have for your business, implementing this, in the beginning, may set your business up for success and save you valuable time.	$12	$300
Project Management Software: You may want to consider using a project management and collaboration tool to organize your day-to-day. This can also be very beneficial if you have a larger team and want to keep track of everyones tasks and productivity. For a full list of project management tools, check out this full list here.	$0	$25
Internal Communication Tool: If you plan to have multiple members on your team, you may want to consider an instant message tool such as Slack or Telegram. The cost is usually billed per month (approx $5/user/month) or there are freemium versions available on many platforms.	$0	$20
Social Media Management Tools: If you plan to do social media marketing for your dermatology business, you should consider investing in a social media automation or publishing tool. This will save you time and allow you to track performance and engagement for your posts. Here is a list of 28 best social media tools for your small business.	$0	$50
Payroll Software: The main purpose of payroll software is to help you pay your team and track each of those payments (so that you don't have to do it manually). If you do not have any employees or have a very small team, payroll software may not be necessary at this stage. Here are the 11 best payroll tools for small businesses!	$0	$200
File Hosting Service: It's important to make sure the information for your dermatology business is stored and protected should something happen to your computer or hard drive. The cost for this is affordable and depends on how much data you need to store. To learn more about the different options and pricing on the market, check out this article.	$0	$299
Total Software Expenses	$162 (min)	$3,094 (max)
Advertising & Marketing Costs
Business Cards: A dermatology business involves quite a bit of customer interaction, whether that is attending tradeshows, sales calls or simply having face to face interaction with prospective clients. Business cards are a great way to stay front of mind with your clients.	$0	$50
Customer Research & Surveys: Many dermatology business's conduct industry and consumer research prior to starting their business. Often times, you need to pay for this data or hire a market research firm to help you in this process.	$0	$300
Business Signage: Business signs let people know they're in the right place and are one of the first impressions your customer will have of your business.The cost for signage depends on a variety of elements:- material- size- number of colors- durability- installation and laborThere are plenty of design tools and software to create your own signs, or you can hire a sign business to do this for you.	$75	$2,486
Direct Campaigns, Printing and Mailing: Although it may sound old-school, traditional marketing methods can be a cost-effective way to drive awareness for your brand. This includes flyers, postcards, sales letters, coupons, special offers, catalogs and brochures.	$0	$300
Affiliate Marketing Commission & Fees: If you want to increase revenue for your dermatology business, affiliate marketing is a great way to promote your product to a new audience. When determining affiliate commission rates you will offer, you will want to take into account the price and margin for your product to ensure affiliate marketing is worth it for your business. According to Monitor Backlinks, the average affiliate commission rate should be somewhere between 5% to 30%. To learn more about how to set commission rates, check out this article..	$0	$250
Influencer Marketing: Partnering with like-minded influencers is one of the most effective ways to grow your social media presence. Many small businesses simply gift a free item in exchange for an influencer post, or pay the influencer directly.	$0	$750
Google Ads: With Google Ads you have the ability to control how much you spend by simply setting a monthly budget cap. Additionally, with these ads you only pay for results, such as clicks to your website or phone calls! It's okay to start with a small budget at first and make changes accordingly if you see valuable returns.	$0	$300
Facebook & Instagram Ads: With Facebook and Instagram ads, you set your budget and pay for the actions you want (whether that be impressions, conversions, etc).You can learn more about pricing based on your impressions here.	$0	$350
Total Advertising & Marketing Costs	$75 (min)	$4,786 (max)
Total Starting Costs	$62 (min)	$43,547 (max)

Raising Money For Your Dermatology Business

Here are the most common ways to raise money for your dermatology business:

Business Accelerator

Accelerators are organizations that offer a range of support and funding opportunities for startups.

Typically, this means they help enroll startups in programs that offer mentorship, office space, and resources to grow the business.

These programs are typically 3-4 months and involve intense education and mentorship - most importantly, the startups also offered capital and investment in return for equity.

Here are some of the most popular and well-known startup accelerators in the U.S:

• YCombinator
• Techstars
• 500 Startups

Here are some tips on how to get into an accelerator program:

• Have an MVP (Minimal Viable Product) in place
• Make sure you have actual customers and an overview of how your business is doing (revenue, site traffic, growth metrics)
• Build a team
• Crush your interview - this is a critical piece in the process. Know your business and metrics inside out and most importantly, be able to portray what makes it so unique.

VC Funding

VC funding is a traditional and long process, but an effective way to raise money for your business.

The term "VC funding" refers to venture capital firms investing in businesses in exchange for equity.

The VC's (venture capitalists) are an individual or small group investing in your business and typically require substantial ownership of the business, with the hope of seeing a return on their investment.

VC's are typically the best approach for businesses with high startup costs - where it would be very difficult to raise the money on your own or through a loan.

When deciding whether to take this approach, it's important that you have a few things in place first, and know what you're getting yourself into:

Determine if your business is ready

Having an idea is not enough to get VC funding.

Typically, VC's will check to make sure you have these things in place prior to closing any deal:

• An MVP (Minimal Viable Product)
• A founding team with all proper documents in place (articles of organization, business formation)
• A validated idea with actual customers buying your product/service

Get everything in place and build a pitch deck

A VC individual or firm will be expecting a fine-tuned presentation that gives an overview of your business.

Here's what you should consider including in your pitch deck:

• Management team, their previous experience + current roles in the business
• Market challenge and solution
• Company financials - including a P&L statement, cash flow statement, and projections
• Company progress
• Investment amount - how much do you need and why?

Research the right VC to fund your business

Research the types of VC investors out there and what niche they focus on.

Then, put together a list of target VC's you want to approach and your strategy around setting up meetings.

Be sure you have everything in place (as discussed above) before setting up any meeting!

Make sure the terms and expectations are right for your business

Committing to VC funding is a big deal and a decision that should not be made lightly.

Although the money and experience from VC's can help your business quickly grow, you are also giving away a stake in the company, and the money comes with strings attached.

Be sure you do your due diligence in finding the right investor - one that truly believes in the growth and success of your business.

Crowdfunding

For your dermatology business, a common way to raise money is through crowdfunding.

So, what does it mean to crowdfund your small business?

Crowdfunding refers to funding a project through many individual investors.

Here are some items to keep in mind when planning your campaign:

• Sell more than just your product. Sell your passion, your vision, and your story.
• Be real. Give your community honest details about your product.
• Treat your audience as your friends (not just potential customers)
• Put together a great presentation - it will attract people quicker.

To launch a successful crowdfunding campaign, you first need to select the type of crowdfunding platform to host your campaign.

Here are the most popular crowdfunding platforms to raise money on:

Kickstarter

Funding platform for creative projects.

• Pricing: Freemium
• Twitter: @kickstarter
• Website: kickstarter.com

Businesses using Kickstarter:

90 successful businesses are using Kickstarter ➜

Get Kickstarter ➜

Indiegogo

Crowdfunding platform for innovations in tech and design.

• Pricing: Freemium
• Twitter: @Indiegogo
• Website: indiegogo.com

Businesses using Indiegogo:

34 successful businesses are using Indiegogo ➜

Get Indiegogo ➜

StartEngine

Crowdfunding platform that has helped more than 350 companies raise $175M+ from a community of over 250,000 prospective investors.

• Pricing: Free
• Twitter: @StartEngineLA
• Website: startengine.com

Businesses using StartEngine:

Get StartEngine ➜

What Skills Do I Need To Succeed In Starting A Dermatology Business?

As a dermatology business, there are several essential skills and characteristics that are important to identify prior to starting your business.

Let’s look at these skills in more detail so you can identify what you need to succeed in your day-to-day business operations:

Self Motivation Skills

Self motivation and discipline skills are critical in order to become successful in this field.

It's likely that you will find yourself starting and running your dermatology business from home, which could mean there are more distractions for you.

Here are the basic skills needed for self motivation & discipline:

• Becoming a self starter: It's important that you are capable of independently completing a task without the help or direction of anyone else
• Listening and following directions: When you are given direction by others, it's critical that you are able to follow directions and ask the right questions in order to get your job done
• Taking the initiative in problem solving: Instead of taking the easy route, you'll need to learn to troubleshoot issues on your own as much as possible.

Customer Service Skills

Friendly communication with customers and the ability to address service issues is a critical part of the job.

Here are some customer service skills you may want to consider prior to starting a dermatology business:

• Professionalism: The way you act, present yourself, and respond to situations all leave an impression on your customer. It's important to stay professional at all times when handling customer requests or issues.
• Problem-solving: When issues arise, it's important that you are able to think quick on your feet and address the situation with a calm and clear solution
• Friendly-manner: This is an obvious one, but customers truly appreciate someone that can respond in a quick, efficient, and friendly manner.
• Proficient in writing: These skills include the ability to write well-crafted emails, service tickets, and any other programs used by the business (ie. chat functions, SMS texting)

Business Savvy Skills

When starting a dermatology business, there are a few fundamental business skills you will want to learn in order to be successful:

• Leadership and training skills: A great team starts with YOU. Make sure you have all company policies and training procedures in place prior to hiring your team
• Decisive and self-confident: Over the course of your career, you will need decisions that could impact your business significantly. It's important you are able to think clearly and rationally about these decisions.
• Ability to understand the financials: You don't need to be an accountant, but it is important that you are able to clearly understand and define metrics such as expenses, revenue, profit, margins, COGS, etc.
• Strategic Thinking: Setting clear goals and benchmarks, identifying opportunities, risks. Ability to effectively communicate these insights to your team.

These are a few of many business savvy skills you should have (or work on) when starting a dermatology business.

For a full list, check out this article here.

Advice For Starting A Dermatology Business

We've interviewed thousands of successful founders at Starter Story and asked what advice they would give to entrepreneurs who are just getting started.

Here's the best advice we discovered for starting a dermatology business:

Scott R. Melamed, founder of ProMD Health ($1M/month):

Be a person who people want to do well and run a business that people want to see succeed.

Read the full interview ➜

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Write a Business Plan

Writing a business plan from the start is critical for the success of your dermatology business.

Why?

Because this allows you to roadmap exactly what you do, what your overall structure will look like, and where you want to be in the future.

For many entrepreneurs, writing out the business plan helps validate their idea and decide whether or not they should move forward with starting the business.

You may want to consider expanding upon these sections in your business plan:

• Executive Summary: Brief outline of your product, the market, and growth opportunities
• Overviews and Objectives: Overview of your business, target customers, and what you need to run your business
• Products and Services: Specifics on the products and services your business will provide
• Market Opportunities: Analysis of customer demographics, buyer habits and if your product is in demand
• Marketing: Outline of your marketing plan and how you plan to differentiate yourself from other customers
• Competitive analysis: Analysis of your competition and the strengths and weaknesses therein
• Operations: Hierarchal structure of the company and what it will take to run the business on the day-to-day
• Leadership Team: Detailing roles and responsibilities of each manager based on their specific skill-set
• Financial Analysis Understanding of all expenses, operating budgets, and projections for the future.

Learn more about how to write a business plan here

Determine Which Business Bank Account You Need

There are hundreds of banks out there, and it can be overwhelming to find one that's right for your business.

Here are some factors you may want to consider:

• Location - Is your bank close enough that you can easily make deposits or get cash?
• Low Fees - Make sure to understand any and all fees associated with setting up and maintaining your bank account. Ask for a list - banks usually try to keep this hidden and in the fine print.
• Online Banking Services - Make sure you can easily navigate through your online portal and you have easy access to everything you need.
• Line of Credit - What do your options look like (even if you don't need this now, you may need this down the road).
• Every bank has something that differentiates them from the rest, so make sure whatever that is applied to your needs and values.

Check out this list of the 13 Best Banks for Small Business in 2020 and what makes them so unique.

Setting Up Your Dermatology Business (Formation and Legal)

When it comes to setting up your business, you may find yourself in a place where you have to make some financial and legal decisions.

The first thing you'll want to decide on is whether you want to be an LLC, S-Corp, or C-Corp.

These three options are found to be the most common when starting a small business, and all serve to protect your personal assets and also provide you with certain tax benefits.

• LLC: All income and expenses from the business are reported on the LLC personal income tax return.
• S corp: Owners pay themselves salaries + receive dividends from profits.
• C Corp: C Corps are separately taxable entities that file a corporate tax return (Form 1120). No income tax is paid at the corporate level and any tax due is paid at the owners individual expense.

Depending on where you're conducting business, you'll also want to consider securing the proper permits, licenses and liability insurance.

Learn more about securing the right permits and licenses ➜

Need to start an LLC? Create an LLC in minutes with ZenBusiness.

How Do I Pay Myself As A Small Business Owner?

Most entrepreneurs start a business to do something they love- but at the end of the day, you still have bills to pay (maybe now more than ever).

But it's important to strike the right balance - if you pay yourself too much, you could be putting your business at risk.

There are two common ways to pay yourself as a business owner:

1. Owner's Draw

Many entrepreneurs pay themselves through an owner's draw. This means that you are technically sean as "self-employed" through the eyes of the IRS and are not paid through regular wages.

At the point that you collect money from the draw, taxes typically are not taken out - so make sure you are prepared to pay these taxes once you file your individual return.

As an owner who takes a draw, you can legally take out as much as you want from your equity.

This type of compensation is suited for Sole props, LLCs, and partnerships. If you’re an S corp, you can pay yourself through both a salary and draw if you choose.

2. Salary

If you decide to pay yourself a salary, you will receive a set and recurring amount. This will be taxed by the federal government and the state you reside in.

The reality is that it can be really complicated to set your own salary, so we have some tips for you to consider:

• Take out a reasonable amount that allows you to live comfortably but also sets your business up for success
• Consider the number of hours you are working weekly + the type of duties you are performing.
• Set your salary based on your industry-standard, location, and profits (or projected profits)
• Look at your P&L statement: Deduct your own pay from that amount. This is important so you can first tackle important business expenses, and then pay yourself from the amount leftover.
• Pick a payroll schedule (and stick to it)! In the US, it's most common to pay yourself and employees twice a month.

To learn more about how to pay yourself and what is a reasonable amount, check out this article.

How To Price Your Dermatology Services

One of the most challenging aspects to starting a dermatology business is determining how much to charge for your dermatology services.

When businesses under-price their product, this can be extremely detrimental to their bottom line and reputation.

Often times, businesses under-price their products to drive demand and volume, but that last thing you want is for customers to view your product/service as "cheap." Additionally, this can have a big impact on the type of customer you attract, which can be difficult to recover from.

On the other hand, when businesses over-price, this tends to be just as damaging to the business.

When customers buy, it's likely that they will explore the internet and look at other competitors to ensure they're getting the best value + deal. This is why it's so important that you research your competition and understand where you land in the marketplace.

Here are some factors to consider when pricing your product:

Understand your customer

It's important that out of the gates, you identify the type of customer you want to attract and how much they're willing to pay for your service. One great way to do this is by surveying your customers. Here are some important items you'll want to takeaway:

• Customer demographic: Age, gender, location, etc.
• Buying habits of your customer: What they buy + when they buy
• Level of price sensitivity with your customer

All of these segments will help you identify the type of customer you're attracting and how to price your product accordingly.

Understand your costs

When pricing your dermatology services, it's critical that you first identify all of your costs and consequently mark up your dermatology services so you can factor in a profit.

The actual cost of your dermatology services may include things like:

• The actual cost to make the product (ie. raw materials, supplies, manufacturer).
• Shipping + overhead fees
• Rent
• Operating costs to run your business

You may want to consider creating a spreadsheet with every single expense involved in operating/owning your business. This will give you an idea as to what you need to generate in order to at the very least, break-even and will help you price your products to factor in a profit.

Create revenue goals

When determining the price of your dermatology services, you'll want to create goals for revenue + how much profit you want your dermatology business to make.

This process is simpler than you may think:

1. Think about your breakeven cost (by completing the above step).
2. Create a revenue goal based on your break-even cost
3. Evaluate the # of items you plan to sell in a given period (make sure this is a realistic number)
4. Divide your revenue goal by the number of items you plan to sell

This figure will help determine your estimated price per product in order to meet your revenue goals.

Evaluate your competition

The last piece in determining how to price your dermatology services is by simply looking at your competition.

The best way to do this is by finding like-minded businesses that offer product(s) with similar perceived value. Then, you can compare prices of the different businesses and determine where your dermatology services fits best in the marketplace.

All of these factors play an equal part in pricing your dermatology services, so it's important you evaluate each one individually to come up with an accurate price that will help optimize your business from the start.

Rate Calculator: How to Calculate The Price For Your Dermatology Services Services

Our calculator is designed to be simple and easy to use.

The goal is to help you set realistic expectations and understand the hourly rate you should be charging to make your desired profit.

Please input below:

What Type Of Customers Will Buy Your Dermatology Services

It's important to first establish who you will be selling to, whether it's to businesses or consumers.

Typically, in this industry, products are sold to B2C markets (business-to-consumer).

Let's take a look at what this means for your dermatology business:

B2C (or business to consumer) is a transaction where businesses sell their products or services to the consumer directly.

In this market, consumer behavior is the primary driver for your business decisions - so it's important that you truly identify who your customer is, and what their buyer habits are when building your product/service.

The advantage

B2C is that you are able to cast a very wide net when targeting your customers. Your product may interest a large number of consumers or a specific niche.

The disadvantage

B2C is that consumers hold all the power - so if your website is not the most user friendly, or does not rank in the top search results on Google, chances are, your customer is going to shop elsewhere.

When building your dermatology business, it's critical that you hone in on who your target audience is, and why they need your product over your competition.

Here are some items to consider when identifying your buyer persona:

Source

Identify Target Customer

A very critical piece in building dermatology business is to identify your ideal target customer.

• Develop a niche and create a consistent brand that reflects your target customer.
• The colors, logo, content, and overall website should resonate with your target customer and should draw them in by helping them solve their specific "need".

Building an MVP (Minimal Viable Product)

When building a dermatology business, it's critical that you first validate your product/service rather than rushing to build it right away.

This could save you months, if not years of building the wrong product/service.

If you're hoping to decrease any sort of risk that comes with launching your dermatology business, designing a prototype can be a great way to de-risk your situation.

The point of your dermatology services prototype is that it doesn't have to be perfect.

In the beginning stages, it doesn't matter how rough V1 of your prototype is, it's more important to just get started and you can always refine from there based on feedback from your network and most importantly your customers.

How To Build A MVP

Here are several different ways of building a prototype/MVP:

• Start by building a landing page to see if customers actually need your product and if they are willing to pay for it
• Build a very basic version of your idea and ask for immediate feedback from potential customers
• Present a problem and solution via Facebook/Instagram Ads and see what the response is like

Scott R. Melamed, founder of ProMD Health dives deep into the process of designing and prototyping their product:

Donation Based Funding

You may want to consider raising money through donations for your dermatology business.

This type of funding is common for disaster relief, charities, non-profits, and medical bills.

Donation-based funding is a way to raise money by asking a large group of people to donate, with no financial return to investors or contributors.

Often times, backers donate money in exchange for perks or rewards.

🚀 How To Launch Your Dermatology Business

Build A Website

Building a website is imperative when launching your business, and with the right tools in place, this can be a simple task to check off the list (without having to hire someone).

1. Pick a domain name that's easy to remember and easy to type
2. Choose a Web Hosting Plan (ie. Shopify, Squarespace)
3. Make sure you choose the right theme and design
4. Implement the proper page structure (ie. about page, contact page, pricing etc)

To learn more about how to build a stellar website with little stress, we give you all the details on this step-by-step guide.

Best Website Platforms To Use For Your Dermatology Business:

There are a variety of websites platforms out there, and it's important to choose the right one that will set you up for success.

Here's everything you need to know about the two most common platforms for your dermatology business:

WordPress

Free and open-source content management system based on PHP and MySQL.

Free to use/open source but you will need to pay for the hosting.

• Pricing: Freemium
• Twitter: @WordPress
• Website: https://wordpress.com/

Businesses using WordPress:

842 successful businesses are using WordPress ➜

Get WordPress ➜

Squarespace

The all-in-one solution for anyone looking to create a beautiful website.

• Personal Plan: $12/month
• Business Plan: $18/month
• Basic: $26/month

• Advanced: $40/month

• Pricing: Freemium

• Twitter: @squarespace

• Website: squarespace.com

Businesses using Squarespace:

133 successful businesses are using Squarespace ➜

Get Squarespace ➜

Web Design

Once you have chosen the domain, web hosting, and platform, it's time to get started with the design phase.

Themes are a great way to produce the fundamental style and identity of your website - this includes everything from your font design to your blog post styles.

One of the best ways to get started is to simply explore the various themes (free or paid depending on what you're looking for) and test them on your site.

If web-design really isn't in the cards for you, you may want to consider outsourcing a web designer to help bring your vision and brand to life.

Traditional Launch Strategies For Your Dermatology Business:

There are various different ways you can launch your dermatology business successfully.

Here are a few different strategies to get customers excited about your dermatology business:

• Set up a Facebook page for your business. This is a great way to establish an online presence
• Host an event in a fun location with drinks & food. This is a great way to get exposure in the local community.
• Get Press! Pitch your story to the media and you may just land in an amazing publication
• Live sales to get customers excited
• Send a hand-written letter in the mail with a discount on your services to the local community/neighborhoods.

Scott R. Melamed, founder of ProMD Health dives deep into the process of launching the business:

🌱 How To Grow Your Dermatology Business

Consider Working With Instagram Influencers

Partnering with like-minded influencers (within your industry) is one of the most effective ways to grow your social media organically.

Industry influencers already have an established and loyal following. With one post, your product immediately establishes a connection with a brand new audience. It's that powerful.

When finding influencers to promote your product, do your research and make sure that their following will actually be interested in your product.

It's easy to be blinded by any influencer with a huge following, but if those followers don't resonate with your product, there may not be any value there... so make sure you do your research!

Improve your SEO

SEO is not just about driving traffic to your site, it's about driving the RIGHT traffic to your site, and ultimately, converting leads into customers.

One of the most important aspects of SEO is understanding what your customers are searching for, otherwise known as "keyword research."

Here are some tools that can help you choose the right keywords for your dermatology business.

• Google Ads Keyword Planner invaluable for discovering search trends.
• Google Search Console is very helpful once your website is up as it shows you what words/phrases are generating traffic.
• Ahrefs and SEMRush are paid tools that allow you to look at results of your competitor's website.

Publish Great Content

Finding keywords is an important piece of the puzzle, but Google also ranks your site based on the actual content you produce, as this is what your customers are reading and engaging with.

There are various different "forms" of content that you may want to consider diversifying on your sites, such as blog posts, articles, studies, and videos.

So let's discuss what google considers "good content:"

• Length - This will vary depending on the page, however, generally having a sufficient amount of content helps search engines recognize that your site is a good source for a specific topic
• Engagement - The longer people stay on your website to read your content, the higher Google will rank your website. It's important to have informative and "thick" content that keeps people reading
• Avoid Duplicating Content - Google will recognize this and may consider your content to have low value
• Ensure pages load quickly - This will also help with engagement and time spent on your website
• Shareability - Create content that people want to share, and is easy for them to share, especially to their social media accounts (ie. "click to tweet" is a great example of this).

Another element of creating good content is creating consistent content.

If (and hopefully you are) publishing content frequently, it's important to stick to a schedule - this helps build brand trust and easy user experience with your customers.

Planning out your content with a content calendar is key to staying consistent.

Here are a few great content calendar tools that can help you:

• Trello
• Airtable
• If you prefer to keep it simple, your average spreadsheet is just as useful!

Backlinks

Backlinks are an important piece to SEO, as they allow for other websites to link to your content.

Search engines recognize that other sites are essentially "verifying" your content and essentially rank you higher because of this.

Of course, some links are more valuable than others and can affect your site in different ways.

For example, if a highly valuable and credible site like the New York Times links to a page on your website, this could be remarkable from an SEO perspective.

Aside from organically getting mentioned from other sites, there are other ways that you can increase and earn backlinks:

• Create infographics with relevant data that people want to share
• Promote your content on different sites/look into "guest blogging"
• Contact influencers/journalists/bloggers and ask them to mention you!
• Write testimonials for other sites in exchange for a backlink
• Leverage existing business relationships

Learn more about the fundamentals of SEO ➜ here and check out Neil Patel's 3 Powerful SEO Tips below

Build A Blog

One of the most effective ways to build brand awareness and grow your business is through consistently blogging.

We've outlined some useful tips for you to consider when creating content:

Consistency and Quantity

Quality is important, but it should be the standard for any content you publish.

What’s more important is consistency and quantity.

Consistency is as simple as committing to publishing and sharing a certain number of posts per week. For me, that’s three per week right now.

This kind of commitment is key, because one day, a random post will blow up, and you will have never expected it.

Oversaturation

The easiest mind trap is to think "I’m posting too much", and “I need to give my readers/audience/this platform a break”.

This is nonsense.

There is no such thing as oversaturation. Well, there is, but it is just someone else’s opinion.

For every person that tells you you are posting too much, there is another person that wants even more of your content.

You should ignore people’s opinions on how much you post.

Patience & Persistence

Keep posting, keep trying, and keep putting out good content on the regular. Your time will come, and when it does, it will change everything.

The only thing you have control over is your content.

You can’t control how people will react to it. You can’t control pageviews, likes, or shares.

So the only metric you should focus on is how much content you can put out in a week, month, etc.

Where to share your blog content

Mailing List

I know it sounds obvious, but the best places to share your content is on your mailing list. It is guaranteed traffic and it is a great way to get rapid feedback from your most loyal readers.

Send newsletters often. I have done once a week since starting, and I’m moving to twice a week soon.

Work on increasing your mailing list as well. Look into ways to increase your conversion rate to your mailing list. I added a flyout popup thing to my site and now I’m collecting ~30 emails per day.

An email newsletter is one of the most powerful assets you can have and it is worth its weight in gold.

Reddit

Reddit is one of my favorite places to promote content.

It is a very scary place because you will often get banned or heckled, but it can really pay off.

Create social media accounts for your blog, the main ones I use:

Twitter Facebook Instagram LinkedIn

Set up Buffer and share all of your blog posts to all of your accounts. All of these little shares really do add up.

Automate this as much as possible. I automated all of my social media for Starter Story.

Facebook Groups

When I started out, I put together a spreadsheet of relevant Facebook groups for my niche, and I would post to these groups whenever I had a big story I wanted to share.

Grow Your Email List

The more engaged list of emails, the more engaged customers, which ultimately leads to more sales.

One of the best ways to start growing your list is by providing your customer with something free (or discounted) in return.

This could also be anything from:

• Ebook
• Fascinating case study
• Video series
• Free week of the product
• Discount on the product

Learn more about how to grow your email list and improve email marketing ➜ here.

Add an exit-intent popup to your online store

A great way to double, or even triple, your email opt-in rate and to grow your list is to add an exit-intent popup to your site, and offering a discount or content upgrade for subscribers.

Here's an example of what that might look like:

Improve Your Email Marketing

Different types of emails

Here are the most common types of email campaigns you can send to your customers and their benefits:

• Welcome emails - the perfect way to provide information from the start with a clear CTA. Make sure to tell your customer everything they need to know about your product or service.
• Newsletters - a great way to give customers updates or send out your latest content
• Product launch emails - the quickest (and easiest) way to increase sales is by selling to current customers. Make sure they're the first on the list to know about your new product
• Promotional emails - promote discounts, deals coupons etc. Try and make this feel exclusive and for a limited time only
• Abandoned cart emails - give your customers a reason to complete their purchase!

Here's a great resource for finding curated email designs, for all types of email campaigns!

Abandonded Cart Flow

The abandoned cart workflow is one of the most effective strategies for turning your lead into a customer, and a powerful tool to have if you're an e-commerce business.

Think about all the times that you went on a shopping frenzy only to add items to your cart and then either forget or realize nows not the right time to pull the trigger.

Then, minutes later you receive an email saying "Hurry up! Your cart is waiting - and we want to provide you with 20% off your order."

Maybe that's the special touch (and discount) you needed to pull that trigger.

Implementing this workflow can automatically trigger this for your business every time a customer abandons their cart.

Here's a great example of an abandoned cart email from Brooklinen:

Things they do well:

• Showcase 5-star reviews from other customers
• Offer a small discount + free shipping
• Great design + clear call to actions!

Experiment With Pay Per Click Ads (PPC)

Pay-per-click (PPC) is a performance-based marketing method that allows you to show specific ads for services or products oriented to a very defined target, with the goal that the user visits your website or landing page.

Here are some tips to consider:

• Consider connecting the ad to your corresponding landing page so that the audience receives the necessary information after clicking on the ad.
• Conversion Tracking: When running PPC campaigns, be sure to run the ads with conversion tracking.
• Focus on quality keywords, even if there are few as this will save you time and money. When assessing the performance of a keyword, it's important to track the expense, conversion, and cost per conversion, as well as the ROI.

PPC advertising can be a very important lead generator as long as it's done properly. Your PPC campaign is intended to drive traffic to your website and help the business scale.

Additionally, if the campaign is not having the desired results, you can make the necessary changes immediately to improve them.

Social Media Advertising

Social Media Advertising is one of the leading ways to get the word out when it comes to dermatology business.

There are various different Social Media platforms available to you. Some may be more critical for your marketing efforts than others, however, it's important to have an understanding of what's out there and available to you.

Let's talk about a few of the main platforms and what makes them unique:

• Facebook Advertising - more than 2 billion monthly users. Facebook is the best for lead generation + capturing email addresses for e-commerce businesses.
• Instagram Advertising - approximately 500 million monthly users and has a higher audience engagement rate than any other platform. Instagram ads are best for linking to a product page or landing page and reaches the 18-29 age group most effectively.
• Twitter Advertising- Small businesses typically use twitter ads to drive brand awareness, but the platform is meant more for organic engagement (and is not as heavily used for paid advertising)
• Pinterest Advertising - 175 million monthly users and most effectively reaches the female audience. Pinterest is great for promoting products without "promoted". The promoted pins have a way of blending right in.
• LinkedIn Advertising - 227 million monthly users and is geared towards the B2B market and generates the highest quality leads. Great platform for recruiters, high-end products and services that will help businesses

It's important to first define your goal/objective so that you don't waste time and money into the wrong platform:

Here are some different questions to ask yourself as it relates to your goals:

• Do I want to simply drive brand awareness?
• Do I want to drive users to my website to gather information?
• Do I want to increase sales and get my customer to take action?

From there, choose the platform that targets your audience best and start experimenting!

Learn more about social media advertising ➜ here.

🏃🏼‍♀️ How To Run Your Dermatology Business

How To Retain Customers For Your Dermatology Business

Retaining customers is one of the most effective ways to grow your dermatology business.

Oftentimes, it's easy to find yourself focusing on generating new customers, vs retaining your current ones.

Look at it this way - you are 60-70% more likely to sell a new product to an existing customer than you are a new customer.

That's not to say that finding new customers and revenue streams is not important, however, the easiest (and most inexpensive) source of new revenue is right there in front of you.

Here are some ways you can retain customers for your dermatology business:

• Responding to comments on social media
• Send discounts (or freebies) to loyal customers
• Provide valuable content, for free
• Write a hand written thank you note
• Provide awesome customer service and build relationships with customers

To find out more tips and tricks on retaining customers, check out this article ➜ here

Scott R. Melamed, founder of ProMD Health dives deep into the process of attracting and retaining customers:

Diversify Your Product Line

Adding new products to your business is a great way to expand into new markets and grow your business.

It's important to note that adding new products and diversifying may not be in the cards for you right this moment, and that's okay. You can always consider it down the road.

Here are some reasons you may want to considering adding/diversifying your product

• Meeting the needs of your customers
• Establish yourself as a top provider in your industry and stay ahead of the game with competition
• Resistance to downturns/trends fading
• Create new revenue streams

Provide Great Customer Service

Providing exceptional care and creating relationships with clients is a great way to build your reputation and retain customers.

Whether you are an online business or a physical business, it's highly important to communicate with customers and make them feel like they are the priority.

Just remember: customer service represents your brand, values, vision and YOU as a person.

Authenticity

As a brand, you want to deliver an experience that authentic, honest and transparent.

Don't make the mistake of giving your audience less credit than they deserve.

Build a Referral Program

Word of mouth is one of the best ways to get the word out about your business and acquire new customers. Especially when you are starting out, it’s important to build a solid referral program to encourage existing customers to help you find new ones.

A great way to do that is by offering a reward (ie. credit on your service or cash) to customers that refer you to their friends and family.

A fantastic referral program will help with clout, credibility, and establishing yourself in the space.

Word of Mouth

The most tried and true way to grow a dermatology business is through word of mouth - some entrepreneurs would say it's more important than all social media.

Why you should focus on word of mouth:

• Consumers trust word of mouth above all other forms of marketing
• 92% of consumers believe recommendations from friends and family over all forms of advertising
• 64% of marketing executives indicated that they believe it is the most effective form of marketing

Learn more about word of mouth in our guide: 30 Ways Founders Grow Their Business ➜

How To Crush The Sales Process For Your Dermatology Business

You may find yourself in a spot where you're ready to hire a few (or many) salespeople to support the sales conversion process.

Regardless if you have one or thirty salespeople, it's critical that you assign them specific roles and responsibilities to nurture the client and provide excellent support.

Mike Korba, co-founder of User.Com walks us through the entire sales process and which teams are responsible for what:

Resources

We put together the best resources on the internet to help you start your dermatology business.

Tools

• Social media tools such as Instagram or Twitter
• Design tools such as Canva
• Productivity tools such as Slack or Trello
• Email tools such as Constant Contact
• Stock images tools such as Unsplash

Books

• The Business Of Dermatology

• How To Start A Medical Spa Practice? A To Z Guide

• How to Win Friends & Influence People

• Loserthink: How Untrained Brains Are Ruining America

• Win Bigly: Persuasion in a World Where Facts Don't Matter

Web Resources

• How To Start A Dermatology Practice Business
• How To Start A Dermatology Practice

Videos

• How To Become A Dermatologist
• 5 Marketing Tips For Clinic Owners

Case Studies

• How We Started A $700K/Month Aesthetic Dermatology Business

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