Let’s play a game. The “who can build a successful practice quicker” game.

The winner of this game gets to build a successful practice and has bragging rights. They might even get a sequel.

The loser might have to admit they’ve been working too hard.

Here are the rules.

My market consists of 100 fans–people who know, like, and trust me. They’ve either hired me before or know someone who has.

Your market consists of 10,000 random people. Nobody has heard of you.

I have contact information for my 100 fans. I can write to them or call them. When they get a letter or email from me, they read it.

You reach your 10,000 primarily by advertising and you have the wherewithal to do that.

Okay, are you ready? Let’s play!

I send an email to my list, say hello and wish them well. You take out an ad and tell people about your services.

You get a fair number of leads, requests for free advice, people with no case and no money, and a few serious prospects. One person needs your services and has the ability to pay. You get one client but break even because of the cost of your ads.

My list doesn’t need me right now but they appreciate hearing from me.

Next month, you run your ads again and get another client, but don’t earn enough to cover your ad costs.

I send my list another email, along with some information about a subject I think might interest them. A get a few ‘thank you’s,’ a few ask questions, but no business.

In the third month, you get more inquiries and another client. You’re at break even.

I get a repeat client, who pays me enough to cover most of my overhead for the month.

Fourth month, you get two new clients and earn a small profit. You’re happy about that and look forward to getting more.

I get another repeat client and one new client, referred to me by someone on my list. I bring in the same amount of fees you do but because I have zero ad expense, I’m pulling ahead of you.

The game continues.

Each month, we both bring in business. Throughout the year, you continue to advertise. Some months are profitable, some months you lose money, but at the end of the year, after paying all of your advertising and related expenses, you’re earning a decent living from your ads. You’re thinking about expanding next year.

I’ve had a good year, too. I’m brought in a lot of repeat business and referrals and grown my list from 100 to 300. I have no ad expenses, my overhead is lower than yours because I don’t need as many employees to handle the work (or to speak to prospects), so I’m netting about the same as you.

After one year, it looks like we’re both doing well. We both get to play again in the sequel.

The lesson is there are different ways to play the game and no reason to limit ourselves to just one.

Advertise if you want to, do anything else you want to do to bring in business, build your list, and stay in touch with everyone.

Thanks for playing.

How to build your practice with a newsletter