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THINKING BUSINESS
a blog by Chris Barrow

What will this morning's interest rate rise mean for your dental business?



It is important, when sharing good news or bad, to establish context.


Things are never one way or the other forever - as you have heard me say so many times recently, there is no crisis, there is only a cycle.


This morning's news of another interest rate rise (and the prediction of a further rise before Christmas) isn't the armageddon that some sectors of the media (or opposition politicians) would have us believe.


It's tough, of course it's tough - and I sympathise with those raising families and paying flexible rate mortgages.


This graph from this morning's Guardian, helps to establish context:




It co-incidentally matches the whole of my working life, since September 1970, when a fresh-faced school leaver arrived for his first day.


I bought my first house in 1975.


I raised a family from 1986.


Dealing with the cost of living and rising interest rates was something we all had to do.


If your first day at work was in 2008 or since, what's happening at the moment seems like an apocalypse.


When you've been around as long as I have, it's a blip.


Now to marketing.........


Patients whose first day at work was 2008 or later, may well defer spending on dentistry.


Patients whose first day at work was 1993 or later, may think twice before spending on dentistry.


Patients whose first day at work was similar to mine, won't think twice about spending on dentistry.


So there's your target market - ready?


Aim.


Fire.








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