How to Bloom a Biz Where You’re Planted With Dr. Iris Stone – 026

Check out my podcast interview with Dr. Iris Stone.

Listening is such an important skill as a biz owner. But you actually need to be able to hear!

Yep. Check out Iris right here.

Learn from an audiologist what it takes to be successful in life and biz!

Our podcasts are interviews between Justin Krane, Krane Financial Solution’s President, and various professionals, one or more of which are or have been Krane Financial Solutions clients. However, nothing stated within the podcasts should be considered a testimonial or endorsement of Krane Financial Solutions or Justin Krane, and the professionals have not been directly or indirectly compensated for being interviewed.

Prior to opening Hear Clear Hearing Aids, Inc., Iris Stone Au.D., FAAA held a management position in Audiology at a major Hearing Healthcare company. She also owned and managed a private practice, working closely with several ENT physicians. Iris holds licenses in Audiology and Hearing Aid Dispensing in the states of New York and California. She earned Master’s degrees from New York University and St. John’s University in Education, Health Administration and Audiology. Iris earned her doctorate in Audiology from AT Still University in Arizona. She is a Fellow of The American Academy of Audiology, The Academy of Doctors of Audiology, and the California Academy of Audiology. Her clinical expertise is in diagnostic testing, including Comprehensive Audiological Evaluations, Tinnitus Evaluations and Management, with a specialty in Hearing Aid Fittings and Rehabilitation.

Her unique style is the ability to listen to the concerns of each individual and find a solution based on their budget, acoustic, and cosmetic needs. Her focus is on her patient’s lifestyle, always delivering professional unhurried care with complete follow up.

**SCROLL TO THE BOTTOM FOR THE VIDEO!**

Starting a Start-up

A clear direction supported Iris in achieving her goals.
Relocating sometimes means breaking into the industry in a different position but always be up front with the professionals around you about your end game.
Clearly stating her goal of a private practice made it possible for Iris to meet other ENT physicians who could form a partnership to build a business.
Facilitating relationships and memberships in a new community is also necessary to boost a budding start-up. Join the Chamber of Commerce or other groups which complement your professional and personal goals.

No Guts, No Glory

Going from a group practice to owning a private practice can be unnerving. It takes an investment and you have to be ready to take the financial leap.
If you want to do your own business, you have to focus on doing it right. Borrow money for state-of-the-art equipment to ensure a responsible business that will garner a solid reputation.
Be prepared not to make the best money in the first two years, that will come later.
Even if you don’t have a ton of money it can work. If you believe in yourself and have a great financial planner to help you, you can do it.

Your Best Investment is YOU

Depending on the type of business, the biggest benefit from marketing efforts can be from different platforms.
For Iris (a physician) word of mouth and how she presented herself as a caring professional had the most impact.
Treat clients or patients well and give them your utmost attention, and the likelihood is they will refer someone else to walk into your business. Speak at events and seminars for free to stay in the mind of your audience when they or a friend need your services.
Investing in yourself requires attention in several areas: Visualization of your dreams and goals, staying current on technology and commitment to continued education, attending conferences and workshops, networking, and making sure your workspace or office looks beautiful.

Making the Most of Time and Revenue

Busy people get more done.
Stay organized and make lists of tasks along with their due dates. If an administrative task is due in two weeks but you find yourself with a time block where you have availability, you can finish it early when you have reminders set.
Diversify your offerings. Some audiology tests and therapies make less than others, but by offering the full suite of services, Iris’ practice ends up making more.
Communicating knowledge of diverse services to a wide audience should be a priority. Deliver content through newsletters, advertorials, interviews, word of mouth, and social media.

Best Quotes:

“I’m in practice and doing really well. I just started meeting people right out of the gate. I joined a lot of different kinds of committees. I’m that kind of person. I joined the Chamber of Commerce and I got really involved with them because they’re business-to-business and it was in Calabasas.” (4:07)

“I don’t think it’s hard to do something that you are passionate about, that you feel that is going to work for you because everybody has to. You have to follow your dreams.” (4:55)

“We opened our first practice. We had rent to pay and we did borrow a little money in the beginning just to get state-of-the-art equipment because if I was going to do it, I was gonna do it right.” (5:56)

“If you believe in yourself, you can do it. And you also have to have a very good financial planner and somebody to help you figure it out.” (7:40)

“I started doing seminars around town, at the senior center at assisted living facilities, all for free. But it really paid off because somebody remembered me or somebody remembered me for a friend, or a neighbor, or a loved one.” (9:47)

“I think a busy person can get more done.” (13:38)

“If I have something that I have to do, like in two weeks, like an administrative thing, if I have a minute in between, I get it done. So if you get things done in advance, you can always get things done.” (14:09)

“I put my personal money into starting something because I knew it would be successful because I believe in myself. And I think you have to, I mean my business is part of who I am and part of who I am comes out in my business.” (19:36)