Webinar: Doctor’s Commute Part 2

Webinar Transcript

We are live so I want to welcome everybody to our weekly webinar into the sea talking about a topic which is an extension of last week’s but is much much more specific here’s here’s one of the things that you want to know in the world of demographics everybody’s talking about travel time to a location in the old is a story about how many miles was it from point A to point B and then to develop and that how that is willing to travel. I’m sorry Mike, did you say something help. Okay, I’ll just keep going, so that the idea of time distance measurement with the referred to as an ISA crone, became a subject of great study so wanted dentist says I want to put be able to have the best location possible ultimately will we have to examine is not a circle radius, but rather a drivetime radius. How long does it take for people to get to a particular place. So you take into account interstates and stoplights and mountains and rivers and bridges and all those other things because that is psychologically going to affect how people think, is this location close were not close. Is it worth going to or not. Now that is the theory of what we do at Dr. demographics to say this is the site you should be thinking about or this is a place that’s a little too far for you to really go to the science of ISA chronic theory is something that most of our competitors have no clue about all they really want to do is stay with the real estate database for using says you need to take a circle and it should be one three and 5 miles or something like that but the reality is of course that is, yesterday’s news and old-fashioned technology. It’s not really going out now, therefore, visibility and accessibility are far more important than they’ve ever been before. Now, new statistics to just come out and and this is really the last month about how long the commute is for people to get to work, to entertainment to shopping and everything else and we decided we would do a study on figuring out how far a person who is a dentist should consider going out to place the practice night kinda started with a young doctor who said I am willing to travel about 45 minutes to work each way know you know an hour to be the best place to go and I were around by home. Now that sounds very nice. Unfortunately it’s naïve because not only is the. The distance kind of unreasonable but what were also tracking is the number of times. The doctors have to go to there for their office has also increased. So, yes, drive times are increasing reasonable distances to travel to a practice site are increasing in the number of times you have to go to your office is increasing and is making the life of the dentist much much more difficult. Further, the public policies that are determining how to get from point A to point B, particularly in urban areas is really having a big a big problem. Now I say this because there is a desire in metropolitan urban areas to do a lot of public transportation. That’s the way to go. Everybody has had public transportation quick little story at all, only tell you guys who are watching this weather. I was living in Sacramento in the air quality management building was being built in downtown Sacramento not too far from City Hall. They came up with a brilliant idea to help reduce the amount of omissions for people who were going to work in that building. They eliminated a parking lot meeting. You can drive to work and if you did, you had to part four or five blocks away which you don’t forget of a pinhead thought this is going to be great for you have great clean-air the promise. Everybody is still driving. It just had to park for the way to became less desirable to work there, and not surprisingly, they had a hard time finding people to work in that department at this California state government not as nice and kind of weird but it’s it’s really basically awaited a lot of city planners are trying to encourage people not to pollute their making it though hard for professional practice owners to actually figure out how to get to work in a reasonable period of time. So the not building and expanding roads there building light rail which unfortunately nobody wants to write. Now I’m good to go and share my screen and working to talk a little bit about the instance of course I can find this thing. Why is that you will be patient Scott. You just take your time. Don’t judge me okay of sharing the I don’t know what is going on here Mike share that screen. Can you say that to Mike my okay looks good so sorry you guys say here’s here’s a link. This is part two of the dentists commute so you can see this right okay so we’ll talk about what are the commute factors. This was something it came off the onion of reported night at 90% of US commuters favor public transportation for other people in this was in the onion 2000 basically they have spoken their using cult take the bus. I’ll be glad you did. And I go to Los Angeles 80 mile daily commuters saying expanding mass transit isn’t just a good idea is a necessity. My drive to work is unbelievable. I spend more time, more than two hours stuck in 12 lanes of traffic. It’s about time somebody did something to get some of the other cars off the road. Now here’s the implication here. Nobody wants take public transportation for Dennis. It’s impractical. Unfortunately your fighting City Hall. Now I want to go through five factors that I think you’re going to be helpful for you to know number one gas prices and the root reality of public policy, and community. For the longest time there is saying. Gas prices are really going to influence people to stop using your private vehicles didn’t work, and in fact as gas prices have actually gone on with the United States becoming the world’s largest energy producer prices of fallen availability of gasoline is at an all-time high and nobody wants to follow the public policies of mass transit and in fact it is becoming a serious problem in that it’s making it more difficult for you to get to the office. Now I know go on to something. It’s even more politically incorrect that global warming is that’s the sense of this theory behind why they don’t want to have you drive your own car. I want to talk about professional practice lifestyles. However, there’s a few imperatives that I think we have to discuss one is there are more female dentist than ever before half of dental school classes, sometimes more, sometimes was our female here’s where it is politically incorrect when dentists tend to be mom’s. They generally want to have a family they want to have kids and therefore a 45 to an hour one-way commute is not a practical way to go because very often, even though there a professional just like there’s files or or a male counterpart. They are not having his easy time going home during the day. They can’t just take off and pick the child up from daycare or from the center. Therefore, there is a rising imperative among dental professionals to be closer to home, particularly if you’re a female. Now I’m hearing this a lot from our client to see if we get calls all the time for people things get, I had a very successful practice. I love what I do but you got to help me find a place that I don’t have to have such a terrible commute. The other factor by the way, that you have to keep in mind is a large number of dentists are having multiple offices so will have a primary office and don’t have a secondary or satellite office. Unfortunately they’re not always closer to their home. The satellite her second office is further from home. Further complicating the family imperative trying to be home at a reasonable time. This of course goes for male and female professionals your lifestyle. Dr. is the problem. Now there are some solutions to this and to talk about it just a little bit but you see that the thought about being able to find a site where there’s lots of people and no competition and they all want to go to you is a great dream but unfortunate were having to adjust the the reasonable expectations for practices to out a reasonable distance not, you’re probably asking how far is a reasonable distance you in a minute. We can talk about the places that are getting longer and longer commutes and why. In short commissions. I want talk about lifestyle for second the deal is the commute distance that is most reasonable is going to be between 20 and 35 minutes one way for a professional, particularly a practice owner to travel. Ironically, by the way that even those people who are employees still have a pretty long distance to travel and there also subject to having going for emergencies. The relationship of one site to another and there. The residence doesn’t get simpler either. Just because you’re employed someplace and of course you have that choice. So what were really suggesting is the ideal is going to be the shorter commute. Ideally, less than 30 minutes to be able to make you not going saying because the length of the commute is actually increasing year-by-year and its increasing greater in urban areas than ever before. Those of the places that most people are thinking. I got figure out someplace else to go. So we go to the third point you there’s a difference between urban, rural and suburban lifestyles and commute to now that that the distance between oh places you want to go I I have to explain in urban areas where there’s more densely populated white people you know they live in apartments in in cities the commute times are dramatically increased the going up in rural areas. It’s not noticeably the rural areas are always better, but to be honest, if you want to beef saying the rural option is becoming an increasing increasingly better way to go in terms of lifestyle know whenever there’s a rural area, you have fewer people and therefore there’s going to be a leader not less growth. However, the sanity of the doctor and their efficiency in working in a practice tends to go up as the population density goes down in the urban areas there increasingly requiring everybody to consider public transportation is an option suburban lifestyles. You know what you do usually consider a lot more single-family homes believe it or not, are actually increasing but not as fast as urban areas, but the suburban sites are having a new thing called the lifestyle center now lifestyle centers are little clumps of areas where there’s an office building in a medical Plaza there is entertainment in restaurants and there’s also homes. Now I’m not just talking about apartments. These suburban areas actually have smaller footprint, single-family dwellings, the trick is in suburban sites in America right now the trend is to have the same size house, but a smaller lot sitting so you don’t have pick the big’s big backyard is used. That’s the big difference. Now I know I’m going throughout the time of step very very fast. I wish I could explain it more, but the implication is right now if you’re in urban area you’re going to get hosed as public policy gets more demanding rural less so suburban because there’s more alternatives in the types of places to go. That’s a benefit to you now just in case you’re wondering yes@Dr. demographics you tell us where to go and what kind of pleasure looking for our best sites report is intended to help you do that most of the people who are looking at a best sites report are currently in practice, they’re not people newly coming out of school or entering the workforce from not being employed previously just to let you know that’s who’s ordering is best sites reports. Now that the fourth item is the new local. Now the implication is these lifestyle centers are meeting what people are doing or saying I am unwilling to drive as far as I did. I don’t want a need something closer the reason that the distance doesn’t matter, but time does is because people mentally or saying you can’t keep going this part of the office. I’m going to find myself in a position where I just don’t want to deal with anybody anymore. I hate my life and I want to retire the new local is kind of a new way of thinking are right now that the ideal is this okay. I managed to be honest with. In a perfect world you would be able to practice within walking or biking distance of your office. A lot of places believe it or not, they used to do that in smaller towns. In fact, many doctors still practice in the building that they live in or very close to their home and I’m going to tell you I made that change. A step kind of a terrible terrible commute and then I decided to move my business really close by and I can come home for lunch or I could knock off work with. If there’s nothing to do and go home and see my family. That is a pretty good benefit and it’s something that is not only felt by dentists and physicians and other professionals everybody’s feeling that way and that is where the movement of the new local is coming along. Lesson number five it’s not the distance, it’s the time it takes to get there so when you are examining where to put practices but places are viable take into account how long would it take you to get there, not how far away is ultimately it’s because of this, because the distances are changing the time to get there is that’s going to determine your happiness and success in life are not going to want, let’s talk about the places these are the 10 cities the United States that have the worst commute and the commute times are growing exponentially. I want to go through real quick and waited think about why these have the worst commute Naperville Moreno Valley, Yonkers, Chicago and Santa Clarita which is by where magic mountain is Newark, New Jersey, just across the river from a Manhattan, Corona, California, new Jersey City, New York City and Palmdale, California. Now here’s what’s interesting they all have something in common and they all are predicted to have a worse commute than ever, and here’s why. It is the distance, it’s the money people who live in major metropolitan areas want to have home and visa places that you can have affordable housing there on the cost on that the room reading if you will, of where the growth in major metropolitan places are going now was ironic about it is if you want to have a house in the near Chicago you want to work in Chicago. Naperville is one of the best places to go. It’s not terribly expensive place to live. The cost of housing is not fantastically on Moreno Valley is the same thing. It it. And by the way, but in fact, every one of these places you’re going to find our close it while agitating distance, but they are especially desirable because you can afford to have a home. Now we are seeing more and more demand that but here’s here’s the fight going on when we talk about the sterile will commutes city planners don’t want to build single-family homes because they believe there to get a better return on their investment by building large very tall apartment buildings. I just was looking at Sacramento, California, for example, there building these huge 40 story buildings really close to downtown the going all my gosh this is so all of our problems, energy utilization, lower commutes, less air pollution strike promised nobody wants to live in these buildings nobody because nobody wants to live there. Occupancy is not going up now. Do you want to live a little cracker box in San Jose, California or I simply is in Seattle you get things. Yeah, that’s what everybody wants to go there is a PR campaign is not really an ass were looking at about the amount of crime it’s going at the recent crimes going up is because it’s a lesson less desirable neighborhood to live in an good stable families don’t want to go there. Therefore, you have a Palmdale commute which is 2 1/2 hours per day and in for some residence there. It’s a three hour commute one way, now you I’m not trying to convince you that this is the only place to go or only thing to do but I am suggesting that when you’re trying to figure out where to put the practice you can’t merely look at that primary thing people look at competition ratio is too often people are saying what it’s got an acceptable or below-average competition ratio. Here’s the dirty little secret about what they’re telling very often the places you’re going to make the most money are going to have a higher than average commute, but also a higher number of competitors you see if you go to Beverly Hills is a just a boatload of damage can’t swing a dead cat validity get us but you see the people who want to live and work there are going to the dentist at a higher rate than ever. And that makes the place more desirable. By contrast places that don’t have anybody in OUC cell is an example to use the Bronx in New York is another example. But the reason I don’t want to go there is because it’s high crime it’s not a desirable place to live. Unfortunately it’s still an expensive place to live. So therefore if you are thinking about what’s going to be the most important factor to consider the cost of housing is going to mean what slow commute is going to be worse. But there is not the relationship that you think with competitors in these locations. In other words, get off the idea that you you can’t compete against other people. People will come into you, even if there’s happens to be another professional nearby you are not a supermarket. I bring that up because too many people have the idea that when your supermarket. Nobody will drive value they’ll see that there is another competitor in the go. I’m not going there because you’re somebody else here. That’s not how professional practices operate in it and that’s how supermarkets operate because they sell commodities. But what you are doing is serving a niche within the community that you’re serving in there for me to come back to something that Mike Green always talks about you are not like your competitors, you should occupy a space psychologically or a market position that is somewhat unique but occupying that unique position that that thing that not everybody is doing you have a space psychologically to be able to attract a certain number and percentage of the population wants to come to you. This is the whole concept of market position so I know I can. I got a little bit long about all this quickly go through this professed visa communities with the shortest and sometimes declining commutes. It doesn’t mean I’m recommending them. But think about what they have in common Boise Idaho Tallahassee Syracuse New York Lincoln Nebraska Wichita Eugene Amarillo Texas Springfield Missouri Sioux Falls and Lubbock Texas. What do they have in common. None of these is very expensive for housing. I mean anywhere, even the rich people are living in houses that are affordable but they also have an expectation that people want to live close to their home in an apartment work close to their home. All of them do not look it’s not whether because I had a taste Sioux Falls terrible place to be. Lubbock, Texas. It’s not dreamboat even Amarillo to be pretty tough however their close enough that you could make it home because the communities are relatively compact. The roads that go through them illustrate where there is greatest potential for you and that’s why these particular cities are showing the best commutes that that is a you will also note these are not places that everybody who is rich and famous wants to go to and believe me I’ve been to all of these, including Eugene and Boise and Sioux Falls fairly recently, but also consider this when you have a cost of doing business people want to live in that place. When there’s a reasonable cost of living. People want to be there. You just can’t be on the cost of a major urban area all right. I’ve been drawing on for a while. I hope that all of that makes sense. That quick little thing. The site selection handbook you can get an a dentist site selection.com just for the price of shipping is also available. Incidentally on Amazon all the other big vendors so that it will cost you a little more. The reason I wrote it is I want to provide a rational way for you to think about site selection for a dental practice. We have this for veterinarians. We also have one coming out soon for orthodontists the oral surgery book should be coming out later this fall. We want to offer the discount basically a $49 discount on the most of our services is miracle Max 49 and you can use that when you check out on our website@Dr. demographics.com or dental demographics.com one last will not. So here they knew I sure wish my brother my wife by the husband my friend could see this little lecture we use it takes a few days, but we post all of these on our website so you can get the link and send this to anybody you want you can have a chat about a lot of times you’re trying to get other people to form a practice with you. This is an easy way for you to have that discussion and informed discussion on what’s going on out there. The thing that Mike Green, who is watching that is not present among us, but are you likely present I have my maritime present get an attorney a minute over him but the thing we can understand, is where looking at your market potential, not just the place you’re going to find a place that you can just go everybody else the world will think will be great. Want to find a place that’s right for you so I hope you understand were trying to match the site. The place up with you and then to promote the practice, not just as a generic, but rather a manifestation of the doctor and the practice model might be anything you want to add to all this is yet so the only other thing other than Scott, your brilliant is obviously the biggest thing on top of my you. But, but, but they know that I want to say is that we do have a lot of other types of doctors that watch this webinar from bats to optometrists to whatever’s we do use dental a lot to be said we work with a lot of dentist. But a lot of these concept and read most of the concepts are pretty universal toward the practice type you do so don’t feel you if you see at me because he dental site to site selection for that handbook. Scott has that handbook as well. That is a differently but if that is something you’re interested if you want more that information, you can email us to know me at mike@Scott are good might get Dr. demographics.com or you can email Scott at that will be scott@scottmcdonald.org or info@Dr. demographics demographics were. I think to buy that so that the dentist site and that demographics.com right right I don’t want to make that disclaimer again. I know a lot of doctors make you think you’re on the right place but you are where you every Tuesday at noon Eastern with brilliant brilliant analysis by Scott McDonald and also analysis by myself already were just about out of time. Now listen, don’t be a stranger. If you have a friend you like. That said, it was all I also imagine. We also do things on Facebook so you want to like us on Facebook follow us upward Dr. demographics, which is our Facebook page or Scott McDonald of the things Dr. demographics, but to we have that and and were always happy to do. We can to make your life a little bit easier by giving you factual information that is specific to your practice and your needs. Everybody, thank you so much for watching me appreciate you being here take care about