Last October, hurricane Sandy came ashore in our coastal Connecticut town. And while damage was less than in many towns, lots of low-lying houses were flooded.
Which was a game-changer!
The issue wasn’t just cleaning up the mucky mess left behind…
The game-changer was that it became crystal clear to home owners in flood zones that, with two hurricanes hitting back to back in two years, their biggest investment (their home), previously worth an average of $1.5 million dollars, was now almost worthless.
The homes they’d invested everything in, in just a few hours became essentially impossible to sell. No one wants to buy a home that they know can be flooded.
The choice was to either lose their life’s investment or to pay over $100,000 to raise their home 8-10 feet in the air. Which is what’s happening in the neighborhoods along the shore in our town.
And the same thing is happening to audiology and hearing aid practices. In the last few years, the game has changed.
To survive and thrive in this market, you need to do things differently. No, you don’t need to raise your practice 10 feet in the air, but you do need to change the way you market and manage your practice.