Dr. Vince LeoneOwner, Consultant, Specialized Practice · Owner, Consultant at Specialized Practice

How to Choose a Niche (in 60 seconds)

2 Mar 2023 · 1 min

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1:01

In this concise instructional video, Dr. Vince Leone addresses doctors who want to add a high‑ticket niche to their practice but are unsure which one to select. He proposes a three‑factor decision framework—space, pace, and budget. 'Space' refers to the physical area available; larger spaces can accommodate equipment‑intensive niches like decompression tables, while smaller spaces suit knee pain, plantar, or neuropathy treatments. 'Pace' concerns the practice’s operational tempo: older, slower‑moving practices align well with neuropathy, whereas newer, faster‑paced clinics can handle decompression, knee pain, and plantar services. 'Budget' examines the financial outlay required for equipment and multiple therapies; decompression needs only a table (lower budget), while knee and neuropathy involve multiple therapeutic tools (higher budget). By evaluating these three dimensions, clinicians can strategically choose a high‑ticket niche that fits their practice’s physical, operational, and financial context.

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Hey doctors, Dr. Vince here, and one question I get is, I want to add a high-ticket niche to my practice, I just don't know which niche to choose. So I always recommend thinking of 3 things: space, pace, and budget. So space is, well, how much space do you have? If you have a lot of space, then you can do decompression because the tables are quite large, whereas like the knee pain niche, plantar, and neuropathy, you don't need a lot of space. In terms of pace, What is the pace of your practice? Is it an older practice or a younger practice? If it's older, that would suit more neuropathy. If it's younger, then the pace is going to be quicker. So, you know, decompression, knee pain, and plantar would be just fine. And then finally, budget. With like, say, knee and neuropathy, you're going to have multiple therapies to treat those conditions, whereas like with decompression, you just, you have the table. So there's going to be less budget with those. So those are the 3 things to be thinking of when you add a high-ticket niche and choosing a niche is is space, pace, and budget. Hope that helps.