Latest / Skin Anarchy / What Separates Medical Aesthetics from Retail Aesthetics with Dominic Mazzone of VOS Collection
Transcript
- 0:00SPEAKER_01: Hey guys, welcome back to Skin Anarchy.
- 0:02SPEAKER_01: This is a very special episode because we're gonna be diving deep into the world of medical aesthetic platforms and understanding like what goes on behind the scenes when it comes to the different practices that you might see from your favorite derms and doctors at large and just understanding that world of aesthetics.
- 0:17SPEAKER_01: So without further ado, please welcome Dominic Mazone, who is the CEO of VOS Collection.
- 0:22SPEAKER_01: Welcome, Dominic.
- 0:23SPEAKER_01: So excited to host you.
- 0:24SPEAKER_00: Acta, thank you so much for having me.
- 0:27SPEAKER_00: And obviously great to see you again as well.
- 0:30SPEAKER_01: No, it's wonderful to connect.
- 0:31SPEAKER_01: And I'm so, so gr uh glad that you agreed to do this because this is a topic that I've never been able to like touch on on the podcast.
- 0:38SPEAKER_01: And I know it's for a lot of people, like it's very difficult to understand.
- 0:41SPEAKER_01: But before we go there, I really want to, you know, introduce our listeners to you and your wonderful background because your career is so impressive.
- 0:47SPEAKER_01: So if you can walk us down memory lane and tell us what got you into business and and the world of medicine.
- 0:53SPEAKER_00: Well, I appreciate you.
- 0:54SPEAKER_00: I appreciate that.
- 0:54SPEAKER_00: Impressive is not the word that I would use.
- 0:57SPEAKER_00: Um I would I would say it's been eclectic at best.
- 1:00SPEAKER_00: So just just you know, from the start, I've been a serial entrepreneur since I was 16.
- 1:05SPEAKER_00: So I started my first business when I was 16 years old.
- 1:08SPEAKER_00: By 17, I was booking American bands in Tijuana, Mexico, which sounds like the craziest thing.
- 1:15SPEAKER_00: But I was from San Diego.
- 1:17SPEAKER_00: And again, I was an entrepreneur from the start and was doing that.
- 1:19SPEAKER_00: So I've started and ran a lot of businesses, got a lot of corporate polish in the telecom world, which was good.
- 1:26SPEAKER_00: Most entrepreneurs that I meet that never had actual corporate experience are wild.
- 1:31SPEAKER_00: Um, and I think you know, being in the corporate world kind of ends up polishing off kind of the sharp corners.
- 1:37SPEAKER_00: And so I would say that uh that was a that was a fantastic experience.
- 1:40SPEAKER_00: But I have at this point started 19 businesses.
- 1:43SPEAKER_00: Many of those were not great, but I learned from every single one of them.
- 1:47SPEAKER_00: And, you know, the business obviously we're here to talk about today is is Voss Collection.
- 1:53SPEAKER_00: And what I, you know, for me, this is my favorite business.
- 1:57SPEAKER_00: Why?
- 1:57SPEAKER_00: Is it the most successful business?
- 1:59SPEAKER_00: Yes, but it's also my favorite because this business is so much fun.
- 2:02SPEAKER_00: This industry is so much fun.
- 2:04SPEAKER_00: And um, a lot of times, like when you're starting businesses, you want to be able to go back sometimes and go, oh, I wish I started this way or wish I I did it that way.
- 2:14SPEAKER_00: I don't feel that way at all about this.
- 2:16SPEAKER_00: I feel like I started this business with all the right intentions, with all the right principles and and kind of philosophies from the very beginning.
- 2:23SPEAKER_00: And I'm unfortunate that that was the case.
- 2:25SPEAKER_00: And because of that, we have such this incredible foundation, which is now VOSS.
- 2:29SPEAKER_01: I mean, that's that's amazing, by the way.
- 2:31SPEAKER_01: I mean, 19 businesses, all of that experience.
- 2:34SPEAKER_01: I mean, it's really interesting because, you know, in the world of medicine, and I think a lot of people know this, but a lot don't, that doctors don't get any training, you know, when it comes to the business side of running a practice, understanding how you can expand one day, you know, when you're not in the hospital anymore.
- 2:51SPEAKER_01: All of these things are just never taught to us, you know, we never learn it.
- 2:55SPEAKER_01: So seeing Voss Collection and what you've been able to accomplish and the way the tier of physicians that are, you know, working with you, I mean, that is incredibly, incredibly impressive.
- 3:05SPEAKER_01: And I'd love for you to actually start there is understanding like the business of medicine, the business of practicing medicine.
- 3:12SPEAKER_01: If you can kind of get us started, you know.
- 3:14SPEAKER_00: Yeah, I just I think it's a really important point that I never really thought of until you just said, you know, doctors are never taught business.
- 3:21SPEAKER_00: There's there's not a like a whole curriculum for that.
- 3:24SPEAKER_00: But you know what's interesting is when it comes to entrepreneurs, there really isn't a curriculum around general EQ and understanding how to manage people and lead people and these types of things.
- 3:36SPEAKER_00: You're never taught that.
- 3:37SPEAKER_00: They try to teach it, but you don't really learn it until you do it.
- 3:40SPEAKER_00: And I think when we think about the business of medical aesthetics as a platform and those types of things, I think what's happened, and we see it a lot around us, is you know, private equity comes in, they want to start a platform, they start buying stuff, they start rolling it up, they corporatize the living hell out of it, and it loses its mojo.
- 4:00SPEAKER_00: And you end up a lot of times with that, with a lot of providers that end up being pretty unhappy as well because they are corporatized like crazy.
- 4:08SPEAKER_00: I think for me, that was probably the most helpful in having all of my startup experience and build experience is I started with the first point of I'm not a private equity guy.
- 4:19SPEAKER_00: I'm an entrepreneur.
- 4:20SPEAKER_00: And what I was doing was I was acquiring other entrepreneurs.
- 4:24SPEAKER_00: And I had a really clear understanding of where that mindset is and what it means to start something and what it means to you have your identity attached to it, and what it means to say, well, oh my gosh, I'm now gonna sell this to somebody.
- 4:38SPEAKER_00: And am I gonna lose what I built?
- 4:40SPEAKER_00: And so I what's been so helpful for for me is those first principles of, okay, we're making an acquisition, but if I treat it truly like I'm it's a partnership, then it's gonna go back, which by the way, they are partners.
- 4:55SPEAKER_00: Like all of all of the physicians that have owned clinics in the Voss Collection, they all owned equity in the Voss collection.
- 5:01SPEAKER_00: They're all shareholders, they're all my partners.
- 5:03SPEAKER_00: But the difference is I actually treat them like partners.
- 5:06SPEAKER_00: I really respect what they bring to the table.
- 5:09SPEAKER_00: And I also very much respect their clinical freedom.
- 5:12SPEAKER_00: And I think this is where private equity makes a huge mistake quite a bit, which is telling these incredibly talented individuals how to practice.
- 5:21SPEAKER_00: I think that's a big mistake.
- 5:23SPEAKER_00: And I think, especially in aesthetics, because aesthetics is that just perfect combination of art and science.
- 5:31SPEAKER_00: And first of all, telling a dentist how to practice is probably really tough.
- 5:35SPEAKER_00: I've never had to do it, but I think that's really tough.
- 5:37SPEAKER_00: Telling an incredibly talented aesthetic provider how to practice violates so many different things for from a clinical perspective, but now you're also telling them how to do their art.
- 5:49SPEAKER_00: And I think that's where private equity has traditionally made a massive mistake.
- 5:53SPEAKER_00: What we've done is taken a very different approach and just said, okay, no problem.
- 5:57SPEAKER_00: We're gonna take all the things that people hate.
- 5:59SPEAKER_00: Bookkeeping.
- 6:00SPEAKER_00: Nobody really likes bookkeeping, nobody really likes HR or procurement or those types of things.
- 6:05SPEAKER_00: Well, those are the things that we definitely will take a heavier hand in because that's what we know how to do.
- 6:10SPEAKER_00: But when it comes to that patient showing up inside that room with the clinician, hands off.
- 6:17SPEAKER_00: We don't tell people what products to use or any of those kinds of things.
- 6:21SPEAKER_00: They have 100% clinical freedom on what they want to do.
- 6:24SPEAKER_00: And the our North Star is remarkable outcomes and results.
- 6:29SPEAKER_00: That's all it is.
- 6:30SPEAKER_00: So, whatever it takes to get there, that's what we do to get there.
- 6:33SPEAKER_00: And so, to me, what I've seen from the data, and we are sitting on a treasure trove of so much data, is that clinics that are spending more time with their patients, introducing their patients to more treatments in in combination to actually achieve fantastic results has a direct correlation on the financial performance of that clinic.
- 6:55SPEAKER_00: So, what I would say is good outcomes and good results is actually good business.
- 7:00SPEAKER_01: No, that's really profound that you said that, because this is where I think there's a huge level of just not understanding in the medical community about what it means for venture to come in and like what that means for your practice as a medical specialist.
- 7:15SPEAKER_01: You know, like that is the that's the big missing link, I think, in the understanding component.
- 7:20SPEAKER_01: Because I'm not gonna lie to you, I remember when I first graduated medical school, I was like, oh yeah, the people who have private practices, they're like sold out.
- 7:27SPEAKER_01: You know what I mean?
- 7:28SPEAKER_01: Like they're, I don't know, they've like kind of hung up the coat on the ethics part.
- 7:32SPEAKER_01: And it's not true.
- 7:33SPEAKER_01: That's not true, you know, and I feel like that's where what you're saying is just so relevant to especially like newer physicians that are coming into aesthetics, because aesthetics, when I look at aesthetics as an outsider, I see it as this is one of the hardest specialties, not because of the science and all the scores you need to get in, but because you have to always have that moral compass with your patients and you have to always know that these are people who need help making decisions.
- 7:59SPEAKER_01: Every patient does, you know?
- 8:00SPEAKER_01: And like I've had these countless conversations with some of the wonderful doctors that you work with as well, you know, and they've actually reiterated this idea of like, no, like I have to sit my patients down and explain to them this is what's going to move the needle for you and this isn't.
- 8:14SPEAKER_01: Right.
- 8:14SPEAKER_01: And talk about things like the golden ratio, talk about the, you know what I mean?
- 8:18SPEAKER_01: All these things.
- 8:18SPEAKER_01: And so I can't imagine a world where you have venture involved in a practice and then they're telling you what to talk to your patients about, what to put what products to push to them, you know, that kind of thing.
- 8:28SPEAKER_00: So yeah, sorry.
- 8:29SPEAKER_00: So many things to unpack there, if I may, just yes, please take 60 to 120 seconds to do that, which is first of all, private equity has gotten a bad name in medicine for probably a really good reason because many times it comes in and it in the past it could have been heavy-handed.
- 8:44SPEAKER_00: And I even know in the world of medical dermatology platforms as well as aesthetic platforms, giving uh the provider a quota.
- 8:52SPEAKER_00: Wait a second, no one went to school to go get a quota.
- 8:55SPEAKER_00: And that's not doing what's best for the patient, right?
- 8:57SPEAKER_00: And so, what's best for the patient?
- 8:59SPEAKER_00: That's just the North Star.
- 9:00SPEAKER_00: Let's keep coming back to that.
- 9:02SPEAKER_00: I think the other thing that's really important is sometimes it's it's funny.
- 9:06SPEAKER_00: Like we go into a practice and we're talking to the lead physician, and they get to know us and they're like, Oh my gosh, we know you and we know all your doctors.
- 9:14SPEAKER_00: And oh my God, you have the deepest bench of globally recognized key opinion leaders in the world that are part of Oscar election.
- 9:20SPEAKER_00: We know you're great.
- 9:21SPEAKER_00: Well, then sometimes we'll talk to an associate, and the associate goes, Well, I've talked to my other associate, and they said private equity is bad.
- 9:27SPEAKER_00: So I don't want that.
- 9:28SPEAKER_00: And you know what?
- 9:28SPEAKER_00: It probably is bad.
- 9:30SPEAKER_00: I'm trying to culturally run the most uncorporate corporation I possibly can.
- 9:36SPEAKER_00: That's my goal.
- 9:37SPEAKER_00: From a standard operating procedure perspective, I'm trying to run a very tight corporation, but from a cultural perspective, I'm trying to do that.
- 9:44SPEAKER_00: And my job and my team's job is to help facilitate all these incredible physicians and nurses and PAs coming together and learning from each other and doing stuff.
- 9:55SPEAKER_00: In fact, last night I was the moderator, hosted a webinar with Doris Day, Ava Shambam, Sue Ellen Cox, and Ellen Marmer.
- 10:03SPEAKER_00: Amazing.
- 10:04SPEAKER_00: Our job to do that to create culture for a young physician or nurse or PA to come in and go, I just got to watch an hour of the some of the greatest doctors in medical aesthetics talk to me about a very specific topic.
- 10:19SPEAKER_00: And I got that.
- 10:20SPEAKER_00: And why we only get that at Voss Collection.
- 10:22SPEAKER_00: But what's happened is what I you find from these is that some of the greatest doctors in the world are like, hey, I didn't know that.
- 10:29SPEAKER_00: I never knew that.
- 10:31SPEAKER_00: And so having that sharing and having that culture is what makes it great.
- 10:36SPEAKER_00: Not it's a business and you're gonna have a quota and I need you to sell X amount.
- 10:41SPEAKER_00: That's not what aesthetics is all about.
- 10:43SPEAKER_00: And that's not what's good for the patient.
- 10:45SPEAKER_00: If you just focus on great results, literally everything else follows along.
- 10:50SPEAKER_01: That's I I couldn't agree with you more.
- 10:52SPEAKER_01: And that's amazing.
- 10:52SPEAKER_01: I mean, those are some phenomenal names and very, very impressive.
- 10:56SPEAKER_01: I and that's what I mean is like you guys are representing a different tier of this kind of a you know framework.
- 11:01SPEAKER_01: I mean, this is a whole different level because the physicians that are on board are, I mean, they're just phenomenal professionals.
- 11:08SPEAKER_00: I appreciate you, I appreciate you saying that.
- 11:10SPEAKER_00: And I I know we were gonna get into this, so maybe I'll just jump in if it's okay.
- 11:13SPEAKER_00: Is that yeah, the world of aesthetics has changed drastically in the last six years.
- 11:18SPEAKER_00: Yeah, okay.
- 11:19SPEAKER_00: We had 6,600 clinics in 2019.
- 11:22SPEAKER_00: We now have over 13,000 clinics between the US and Canada.
- 11:27SPEAKER_00: Okay.
- 11:28SPEAKER_00: We more than doubled, okay, in a very short amount of time.
- 11:31SPEAKER_00: And when you double that fast, standards are going to be reduced.
- 11:36SPEAKER_00: What we know in this industry is that there are not enough highly experienced providers that can actually provide great outcomes to fill all the new clinics that are out there.
- 11:48SPEAKER_00: And what we identified is I don't think I'm part of this industry.
- 11:53SPEAKER_00: I don't think my folks are part of this industry.
- 11:55SPEAKER_00: What we're part of is high-end, top-end results in medical aesthetics.
- 12:01SPEAKER_00: That's what Voss Collection is.
- 12:03SPEAKER_00: What we are not is, which I, you know, I really think is fair.
- 12:07SPEAKER_00: I'm trying to be factual and not being opinionated, is that 95% of all clinics out there are running really a volume business.
- 12:15SPEAKER_00: It's a lower cost volume business where we're gonna just get people in the door, we're gonna stick a needle in, we're gonna get them in and get them out, and that's it.
- 12:23SPEAKER_00: And I think that's fine.
- 12:25SPEAKER_00: There's a place for that.
- 12:26SPEAKER_00: And I think it's really important.
- 12:27SPEAKER_00: But there is a differentiation between world-class medical aesthetics and getting world-class results, than what is actually happening in the rest of the market.
- 12:35SPEAKER_00: And that's why for me, really being able to come out with this platform and come out with this brand to help people know what good looks like and also to have them know, oh, I know that I can come to Boss Collection and get a source of truth.
- 12:49SPEAKER_00: I can actually hear from some of the greatest providers in the world giving me a source of truth on everything from neuro to filler to soft wave work to tell me about BioSTEM and all these different things, because we know there's a considerable amount of misinformation out in the market.
- 13:06SPEAKER_00: And we know there's a lot of lower tier clinics that maybe aren't providing people the best results that they possibly can get.
- 13:14SPEAKER_00: And so that's that's the mission right now.
- 13:16SPEAKER_01: No, that's actually I'm so glad you brought this up because I one of my big questions for you was this world that we're now seeing of like medi spas and like just, I mean, there's just so many different loopholes now in medicine that allow for professionals who might not be as credentialed, you know, as I mean, I when I go to an aesthetic provider, I'm looking for an MD or a DO, like I'm looking for certain things, but there are a lot of people right now that are running clinics, and I think this conversation gets lost a little bit because we tend to create an umbrella understanding of like what it takes to become the best, you know, in a field like aesthetics.
- 13:53SPEAKER_01: I would love for you to speak about this in terms of you guys' vetting process when it comes to the clinicians you do work with, because I think that's also a very important piece of this puzzle of understanding like what makes that level of provider that's going to deliver exactly what you're talking about here, you know.
- 14:09SPEAKER_00: So it's funny in the background, I've been working on this article.
- 14:12SPEAKER_00: Okay, I've been working on this article, and by the way, it's like I've been working on this article for like two months because there's so much in it and there that it's so important.
- 14:20SPEAKER_00: And really what it's discussing is that the market is splitting up into two pieces medical aesthetics and retail aesthetics.
- 14:29SPEAKER_00: And this concept, I think, is really important because there is a place for both.
- 14:34SPEAKER_00: I want to be super clear to everybody.
- 14:35SPEAKER_00: So I'm not coming on your show and trashing all clinics that aren't part of Voss Collection.
- 14:40SPEAKER_00: No, there's so many great clinics out there.
- 14:42SPEAKER_00: But we have to start differentiating somehow for the patient to understand so they can make sure they can get what they need.
- 14:48SPEAKER_00: And to me, like medical aesthetics has highly trained healthcare providers, right?
- 14:52SPEAKER_00: That take more of a comprehensive approach, considering all aspects.
- 14:57SPEAKER_00: And because of that, they have all the technology that they need, they have all the expertise that they need.
- 15:02SPEAKER_00: So you can actually get to quote Dr.
- 15:04SPEAKER_00: Shannon Humphrey, uh, who is also part of the Voss collection, a 360-degree treatment approach, a really important thing.
- 15:11SPEAKER_00: That's medical aesthetics.
- 15:13SPEAKER_00: Retail aesthetics are more lightly trained providers that are doing the basics.
- 15:18SPEAKER_00: And that's so great because people sometimes are like, I want to try Botox for the first time and I do I don't know what to do, but I just want my 11s done.
- 15:27SPEAKER_00: And hey, that's okay.
- 15:28SPEAKER_00: Like there are so many people that can do your 11s.
- 15:31SPEAKER_00: That's really great.
- 15:32SPEAKER_00: But at a certain point, some people are gonna say, Well, can someone help me with my skin?
- 15:38SPEAKER_00: Because I like someone to actually do something to help my skin because you know, and of course, like the typical analogy is like you've you've done all the body work on the car, but the paint is scratched up.
- 15:50SPEAKER_00: And so I think there is a place for both, but we are starting to see that separation from a VOS collection perspective.
- 15:58SPEAKER_00: We will never be 200 clinics, never.
- 16:01SPEAKER_00: And we will never name all of our clinics the same.
- 16:03SPEAKER_00: No, we keep the brands, the brands of the clinics are the brands in the clinics.
- 16:06SPEAKER_00: They're all part of VOS collection.
- 16:07SPEAKER_00: So our marmor MD and aesthetic solutions with two Ellen Cotton, those are all still there.
- 16:12SPEAKER_00: Those brands are important and those are in place.
- 16:15SPEAKER_00: We think that's critical, but those are fewer and farther between.
- 16:19SPEAKER_00: And for us, we like to get large medical aesthetic practices that are primarily Dr.
- 16:26SPEAKER_00: Rand.
- 16:27SPEAKER_00: We have a few that aren't that are exception, but they're pretty amazing.
- 16:31SPEAKER_00: And for us, we want to make sure that a patient can walk in the door and get a complete comprehensive treatment plan and get treated in a way where they come out and go, oh my gosh, I have the most incredible results.
- 16:46SPEAKER_00: They should be so excited when they walk out the door.
- 16:49SPEAKER_00: And so we're very, very, very picky about how we do that because I think I have the pleasure of being one of, you know, maybe call it 10 or 20 people that have walked into the most medical aesthetic clinics anywhere.
- 17:06SPEAKER_00: And I am so privileged to be able to do that because I've been able to sit back and watch.
- 17:12SPEAKER_00: And by the way, like the first thing I look for is when I walk in one of those clinics.
- 17:16SPEAKER_00: How am I greeted?
- 17:17SPEAKER_00: Like, how am I greeted when I walk in the door?
- 17:19SPEAKER_00: If I walk in there and it feels like 1959 Russia, um, you know, where I'm walking into a medical building and I'm getting treated like I'm you're lucky that you're here.
- 17:33SPEAKER_00: Well, that's that's gonna be gone.
- 17:34SPEAKER_00: Like I have walked into a clinic and walked right out just because how we were treated, I was just like, nah, I don't think I don't want to have to try to fix that because that's just not gonna work.
- 17:45SPEAKER_00: But the important thing is that we buy medical aesthetic practices, not retail aesthetic practices.
- 17:52SPEAKER_00: And I just want to say one other thing.
- 17:54SPEAKER_00: I've learned a lot over time, and this is definitely more accentuated.
- 17:59SPEAKER_00: I pick partners.
- 18:00SPEAKER_00: And so if I walk in and I think, well, they're great at their job, but we can't get along with them, or I don't think they're ethically all there, or those kind of things, then we just turn it down acting like straight away, like you're not gonna play well with the rest of everybody in the platform.
- 18:19SPEAKER_00: And that doesn't work for us.
- 18:21SPEAKER_00: And so it's really important that we we really vet our partners like mad to make sure that we don't hurt the culture that we've worked so hard to build in the first place that is helping to produce all these incredible results.
- 18:34SPEAKER_00: I hope that answers your question.
- 18:36SPEAKER_01: No, it absolutely does.
- 18:37SPEAKER_01: And I really, really applaud you because, you know, it's not just the culture you're creating within the company, it's a culture that you're propagating out into this industry, you know.
- 18:45SPEAKER_01: And I think that's where the impact of boss collection for me stands out as somebody who's just looking at what you're building, is that, you know, I've had countless conversations, Dominic, on the show about, you know, medical aesthetics and like where it's headed and like, you know, obviously like not the business, but like we were just talking about the medical part about all of it, right?
- 19:02SPEAKER_01: And I mean, the conversations have involved, like you were explaining the retail versus the aesthetic, like the differences.
- 19:07SPEAKER_01: There was a movement for many years where people were walking into these, like, you know, corner shop clinics, getting ridiculous treatments and then going to an actual aesthetic provider and saying, fix me, because I don't know what I did, you know?
- 19:20SPEAKER_01: And that's scary because that's where my heart goes out to all of these amazing physicians who've always been doing it right.
- 19:27SPEAKER_01: You know what I mean?
- 19:28SPEAKER_01: Because they end up getting stuck with like these botched up jobs that they're like, now I have to actually introduce this person to real medical care.
- 19:37SPEAKER_01: You know, it now it's on their plate to do that.
- 19:39SPEAKER_01: And so that's what I mean is like what you guys are doing is setting a bar in this industry where it goes like, you know, you have to start thinking like where who are the people you're partnering with?
- 19:49SPEAKER_01: It's not money.
- 19:50SPEAKER_01: And I think that's where aesthetics also get such a bad reputation.
- 19:52SPEAKER_01: And I don't understand, you know, sometimes because people say it's it's a money game, you know, it's all a money game, it's all about the business, it's all about how many people can you get through the door.
- 20:02SPEAKER_01: But that's where I think there's a lot of debunking that needs to happen.
- 20:05SPEAKER_01: You know what I mean?
- 20:06SPEAKER_01: In terms of like, no, it's not like that.
- 20:08SPEAKER_01: There are people, some of the best doctors in the world are in aesthetics, you know, and they are not going to compromise.
- 20:14SPEAKER_01: They're not like I spoke with Dr.
- 20:15SPEAKER_01: Dayan, for example, you know, he's he's uh I'm one of the most phenomenal surgeons I've ever met.
- 20:21SPEAKER_01: And like somebody like him, or like somebody like Dr.
- 20:23SPEAKER_01: Day that you were mentioning, they will never compromise on their standards.
- 20:27SPEAKER_01: And that by itself sets a bar, you know.
- 20:29SPEAKER_01: So it's just so important what you're doing.
- 20:31SPEAKER_00: I I really, really if I can say a couple points on that.
- 20:34SPEAKER_00: And Dr.
- 20:34SPEAKER_00: Diane is was the first Voss collection clinic in the US.
- 20:38SPEAKER_00: So Steve is near and dear to my my heart.
- 20:41SPEAKER_00: We're buddies, and um, you know, he's so influential in the industry, and he's also such for so forward-looking.
- 20:47SPEAKER_00: But you brought up a really important point, and I just want to make sure I really get this out there.
- 20:51SPEAKER_00: We are setting a bar.
- 20:52SPEAKER_00: I want to set the bar, and I don't want to set the bar for just one reason, which one would think oh, you want to set the bar, you want to differentiate, you want to be the best of the best.
- 21:01SPEAKER_00: No, that's all fine.
- 21:02SPEAKER_00: I do.
- 21:02SPEAKER_00: That's great.
- 21:03SPEAKER_00: But if I can set the bar and that helps pull up the rest of the industry, or let's just say, because there's so many great clinics out there that are at that bar, anyways, but there are so many, the majority are not.
- 21:15SPEAKER_00: But if we can lift everybody up, what we end up doing is keeping patients in medical aesthetics.
- 21:23SPEAKER_00: We end up keeping patients to say, Oh, I actually got a good result.
- 21:28SPEAKER_00: I'm not gonna not do this again.
- 21:30SPEAKER_00: We want people, and the thing about us for Voss Collection, we're big enough where any bad outcome anywhere is bad for us.
- 21:37SPEAKER_00: Forget if it's a VOS collection clinic or not.
- 21:40SPEAKER_00: Doesn't matter.
- 21:41SPEAKER_00: Bad outcomes in this industry is completely bad for everybody, and we don't want that.
- 21:47SPEAKER_00: We want everybody to do well.
- 21:49SPEAKER_00: And so it's really, really important to us that the industry as a whole lifts up and just gets better so we have happier patients that are much more satisfied everywhere.
- 22:00SPEAKER_00: Because it just makes everybody win.
- 22:02SPEAKER_01: Absolutely.
- 22:02SPEAKER_01: Absolutely.
- 22:02SPEAKER_01: Now, one of my questions for you, Donek, and this is very important for I know our a lot of our listeners is products, you know, because right now, as you know, the skincare industry is absolutely booming.
- 22:13SPEAKER_01: We are finally, I think, we're going around the bend now of like getting into the real science, you know, like innovating on a level that I've never really seen in this industry before.
- 22:21SPEAKER_01: And I know a lot of doctors are finally kind of even the really skeptical ones are finally opening their minds a little bit and saying, wait a minute, there might be a lot here, you know, for me to consider because this really kind of taps into the conversation around like what it takes a brand to get through the door at like a really major clinic or a practice.
- 22:38SPEAKER_01: Um, I'd love for you to speak on this a little bit in terms of like any skincare brands.
- 22:43SPEAKER_01: I know you guys don't push any brands on your partners, you know, but like what do you think it really takes these days for a brand to be convincing enough to get into a practice that is, you know, involved with a company like yours?
- 22:56SPEAKER_00: Yeah.
- 22:56SPEAKER_00: Yeah.
- 22:57SPEAKER_00: By the way, that's such a good question.
- 22:58SPEAKER_00: I'm so happy you asked that because right now I'm gonna try to be as helpful as I can to every up-and-coming skincare brand.
- 23:06SPEAKER_00: I don't compete with Sephora at all.
- 23:08SPEAKER_00: Full stop.
- 23:09SPEAKER_00: So let's start there.
- 23:10SPEAKER_00: That's a totally different industry.
- 23:12SPEAKER_00: They sell skincare, they sell lots of it, they're so good at it.
- 23:17SPEAKER_00: We sell a medical grade skincare, and we sell skincare that we are very, very, very confident that it has efficacy.
- 23:28SPEAKER_00: And I think what a lot of people, because it's so funny.
- 23:33SPEAKER_00: Trend is amazing.
- 23:34SPEAKER_00: I mean, the most tragedy about the human condition is we we don't have long enough lifespans because we learn so much later on in life.
- 23:40SPEAKER_00: And what I would say is when I look at all these young skincare brands that are coming up, and by the way, it's just some great skincare brands coming up.
- 23:49SPEAKER_00: Oh, yeah.
- 23:49SPEAKER_00: I think what a lot of people get confused on, first of all, is okay, where's your lane?
- 23:54SPEAKER_00: Like what lane are you in?
- 23:56SPEAKER_00: And if you're in the Sephora lane, you better have a serious amount of backing to put yourself in a position to even be found, much less paid attention to, but even to be found, because we know in that lane, the amount of skincare that's available out there is mind-boggling.
- 24:16SPEAKER_00: On the medical grade, what I would say is that we're starting to see a lot more medical grade skincare starting to come to market.
- 24:24SPEAKER_00: We're seeing a lot more brands.
- 24:26SPEAKER_00: And if someone came to us and said, we want you to sell our skincare, from a business perspective, the way I look at it is when it comes to skincare, we're Whole Foods.
- 24:38SPEAKER_00: And what I mean by that is I have a place for people to purchase it.
- 24:42SPEAKER_00: It's your job as a manufacturer to make people pull it off the shelves.
- 24:46SPEAKER_01: Yes.
- 24:47SPEAKER_00: And if you look at the grocery model, that's how every grocery model works.
- 24:52SPEAKER_00: And by the way, it's really funny in medical aesthetics because the manufacturers expect you to create the demand.
- 24:57SPEAKER_00: Well, I don't need to create demand.
- 24:59SPEAKER_00: There's there's a gazillion of you.
- 25:01SPEAKER_00: You need to create the demand to make people pull it off the shelves.
- 25:04SPEAKER_00: If someone came to me and said, Dom, we have a skincare brand, it's medical grade.
- 25:08SPEAKER_00: Here's the clinical studies, there's efficacy, and here is our marketing plan from a consumer perspective to make sure that they pull it off the shelves and or even ask for it when they walk into the clinic, you got me.
- 25:22SPEAKER_01: Yeah.
- 25:22SPEAKER_00: Ask me how many times that's happened.
- 25:24SPEAKER_01: I'm guessing not very often.
- 25:26SPEAKER_00: No, not very often.
- 25:28SPEAKER_00: Oh, next to never, because there's an expectation that, oh my gosh, I need to get in your clinics and you're gonna sell it.
- 25:34SPEAKER_00: But the thing is what a lot of people don't understand, and I think what a lot of platforms get wrong is that if I took a skincare brand and I pushed it down into my clinics, you're like, oh, well, the CEO is behind it.
- 25:46SPEAKER_00: The founder and the CEO is behind this.
- 25:48SPEAKER_00: That's great.
- 25:48SPEAKER_00: Yeah, that means nothing.
- 25:50SPEAKER_00: If the people in the clinic don't believe it, it's not selling full stop.
- 25:54SPEAKER_00: And so they have to be believers to have it be super successful.
- 25:58SPEAKER_00: And to get them to be believers, that takes a lot of heavy lifting to say, okay, I'm gonna show up into the clinics and I'm gonna do lunch and learnts, and then I'm gonna show you how how effective it is, and I'm gonna give everyone free sample so they can try it and fall in love with it.
- 26:11SPEAKER_00: And you know who did a great job on this?
- 26:12SPEAKER_00: Who was that?
- 26:13SPEAKER_00: Zio.
- 26:14SPEAKER_00: Oh.
- 26:14SPEAKER_00: Zio did a great job on the sales enablement of their skincare.
- 26:21SPEAKER_00: They put a lot of people in the clinics, they incented them to sell, they gave them lots of product, and all of a sudden you had a bunch of clinics who are like, I'm in love with Zio.
- 26:31SPEAKER_00: And I'm not here to endorse Zio or anything.
- 26:34SPEAKER_00: I'm just telling you, Zio's sales enablement had an actual plan behind it.
- 26:41SPEAKER_00: And that structured plan created great success for them.
- 26:44SPEAKER_00: And so, what I think a lot of people need to hear is that creating a great product isn't even 50% of it.
- 26:53SPEAKER_00: It's probably 30% of it.
- 26:55SPEAKER_00: The other 70% is how are you gonna market?
- 26:58SPEAKER_00: How are you gonna distribute?
- 27:00SPEAKER_00: How are you gonna sales enable to make sure that it flies off the shelves?
- 27:04SPEAKER_00: And I've my experience, I find that that gets flipped the other way, which is a lot of people believe I got a great product.
- 27:13SPEAKER_00: That's 70% of it.
- 27:15SPEAKER_00: People are gonna love this thing, it's gonna fly off the shelves.
- 27:17SPEAKER_00: Well, not unless anybody cares.
- 27:19SPEAKER_00: Yeah.
- 27:19SPEAKER_00: Yeah.
- 27:20SPEAKER_00: So I hope that was helpful.
- 27:21SPEAKER_01: No, absolutely.
- 27:22SPEAKER_01: No, that was really, really great insight because you really touched on a topic that I think I hear, I hear this a lot as well about, you know, there are so many skincare brands that are trying to just get through a door.
- 27:32SPEAKER_01: You know, they're like, if we just get through the door, we're gonna sell a bunch of product, you know.
- 27:36SPEAKER_01: And it's like, again, you know, the idea of efficacy comes up, you know, the idea of do doctors believe in what you're doing?
- 27:43SPEAKER_01: Do they actually see the results?
- 27:45SPEAKER_01: Like, you know, what you were saying, like this is going to actually improve your skin at the end of the day.
- 27:50SPEAKER_01: It's not a one and done, it's a process in their protocol as a physician of what they're doing, you know.
- 27:55SPEAKER_01: And that's where I think, you know, I've seen a lot of brands do this where they're like, let's get in, let's go pitch to as many clinics as we possibly can pitch to.
- 28:02SPEAKER_01: And it's, you know, 20% of it's gonna land that's gonna make us successful.
- 28:06SPEAKER_01: And it's like, that can't be it.
- 28:08SPEAKER_01: There's no way.
- 28:09SPEAKER_00: Yeah, and just getting the doctor to like it's not enough.
- 28:12SPEAKER_00: Yeah.
- 28:12SPEAKER_00: Yeah.
- 28:13SPEAKER_00: You need the staff, and more importantly, you need the front desk staff to like absolutely.
- 28:18SPEAKER_01: No, that's that's a huge, huge like, you know, nugget of wisdom there, I think, for a lot of you know, brand founders is that it's very different, you know, in skincare.
- 28:26SPEAKER_01: And it's interesting because skincare, and I don't know if you if you agree with this, but I feel like I've always felt like skincare is like one of the only beauty categories that is bridging a gap in medicine.
- 28:36SPEAKER_01: You know, like they're actually like adjacent if you do it right, you know, let me just say that.
- 28:39SPEAKER_01: If you, if you create a very, very innovative product that's very science heavy, it's got a ton of reasons, you are potentially bridging gaps.
- 28:46SPEAKER_01: And I feel like now doctors, from what I'm noticing, are starting to say, okay, well, show me your data, show me where you're at with your science, because then I'm gonna be able to understand theoretically where this can actually fit into my practice and where I can really implement.
- 29:01SPEAKER_01: And I, for some reason, the skincare industry is still stuck in this mindset of let's just go to a retailer, you know, or let's it's gonna be the same experience, retailer and you know, a practice.
- 29:11SPEAKER_01: So yeah, yeah, yeah.
- 29:13SPEAKER_00: Again, I think a lot of people start a skincare brand and don't realize it's a business.
- 29:19SPEAKER_00: Yeah, there's a lot that goes on with a business and the business of skincare.
- 29:23SPEAKER_00: It doesn't stop at I created a great skincare line.
- 29:27SPEAKER_00: That's just the table stakes.
- 29:28SPEAKER_00: And when it comes to medically grade skincare, having studies and efficacy studies and those things, that's also table stakes.
- 29:37SPEAKER_00: We all want to see that this thing has some efficacy behind it.
- 29:41SPEAKER_00: And so, yeah, I think it's an exciting space to watch right now because again, I think people are starting to get it and there are a lot more choices.
- 29:48SPEAKER_00: And I'll tell you what, there are more choices in general, just from a product perspective.
- 29:52SPEAKER_00: There's more toxin coming to the market, there's more filler coming to the market, and the product side of aesthetics is also starting, is going to become crowded.
- 30:02SPEAKER_00: And there's going to be winners and there's going to be losers.
- 30:04SPEAKER_00: And just like in the aesthetics world right now, when it comes to clinics, you are starting to see a lot of small clinics starting to shut down, even big clinics starting to shut down because we are starting to go through what I think is a natural kind of weeding out process.
- 30:19SPEAKER_01: Makes sense.
- 30:19SPEAKER_01: No, that makes sense.
- 30:20SPEAKER_01: No, one of the things I really want to understand, and this is a question like I think a lot of young doctors also have, is that it's one thing to like have your own practice, you know, at that stage of your career.
- 30:30SPEAKER_01: But then when it comes to scaling, you know, where is it that you've noticed that there's always some sort of a learning curve when it comes to scaling a practice?
- 30:38SPEAKER_01: I mean, I know Voss Collection, you guys have your blueprint of how you do things, but I just love to get your insight here, you know, in terms of where should a doctor be thinking, like what direction should their mind be in when they're thinking about really scaling?
- 30:51SPEAKER_00: Yeah.
- 30:51SPEAKER_00: So I feel I can give a lot of help here because when we look at the financials of a practice, it's really interesting because sometimes you'll see a huge practice.
- 31:02SPEAKER_00: And the doctor is like, my practice is huge.
- 31:05SPEAKER_00: We're like, that's great.
- 31:06SPEAKER_00: And then you come to find out that the practice is huge all because of their hands.
- 31:11SPEAKER_00: And they're getting no scale off of that.
- 31:15SPEAKER_00: And if we were going to acquire a practice, we're like, okay, well, we have to pay you properly.
- 31:19SPEAKER_00: And when we pay you properly, that reduces the overall profitability.
- 31:23SPEAKER_00: That's natural because you're being paid and everything.
- 31:26SPEAKER_00: And where a lot of clinics get it wrong is all of the dollars are in one person's hands.
- 31:34SPEAKER_00: And what they need to do is they need to have other people injecting, they need to have text running devices because that's how you scale like mad.
- 31:46SPEAKER_00: You need to use other people's hands to do that.
- 31:49SPEAKER_00: And I'll tell you something, out of all the practices I've ever seen, no one has done this better than Ava Champagne.
- 31:56SPEAKER_00: Ava's my partner.
- 31:57SPEAKER_00: I love her dearly, and why I really love her dearly is she is a wicked businesswoman.
- 32:04SPEAKER_00: And what she did is she made a conscious decision to say, you know what?
- 32:10SPEAKER_00: I need to make myself less important.
- 32:12SPEAKER_00: Which you don't see from doctors a lot, okay?
- 32:14SPEAKER_00: They're the queen or king of the castle.
- 32:17SPEAKER_00: And I get that.
- 32:18SPEAKER_00: But what Ava did is said, uh-uh, I need to be way less important in this practice.
- 32:23SPEAKER_00: This thing needs to run without me.
- 32:25SPEAKER_00: This thing needs to run without my hands.
- 32:27SPEAKER_00: And she has done a phenomenal job building out and scaling a fantastic business because of that.
- 32:35SPEAKER_00: And it's all because it's all taken out of from a single person's hands to many hands.
- 32:41SPEAKER_00: That is the number one way to scale immediately.
- 32:45SPEAKER_00: Now, some people might say, well, wait a second.
- 32:47SPEAKER_00: So I need to get someone in, and then I gotta pay them and everything like that.
- 32:50SPEAKER_00: And it's like, yeah, it's a business.
- 32:52SPEAKER_00: You have to invest, you have to spend money to make money.
- 32:55SPEAKER_00: And so you have to start bringing these other people on so they can start building and pulling in and being part of it.
- 33:01SPEAKER_00: And that becomes really an important inflection point for any clinic that goes from being good and and whatnot to being amazing when it comes to scalability and size of business and those kinds of things.
- 33:16SPEAKER_00: And here's the other thing, Stuck.
- 33:17SPEAKER_00: When you have a clinic that has multiple providers in it, those are better practices in most cases because they're learning from each other, right?
- 33:26SPEAKER_00: Yeah.
- 33:27SPEAKER_00: And it's funny too, because you you see Doris Day, and I was I was on this webinar with Doris last night, and you know, Doris has been alone for a really long time, but Doris is Doris, so she's she's literally the unicorn.
- 33:40SPEAKER_00: But I am watching her now learn from all these other doctors involved, and my God, they're learning so much from her too.
- 33:47SPEAKER_00: But I think it's it's really interesting because, you know, I've had doctors say to me, like, hey, it's so great to be part of something because I was alone and I didn't have this kind of sharing.
- 33:58SPEAKER_00: So I do think multiple providers in a practice it is very healthy that way.
- 34:02SPEAKER_01: No, that's that's really, really like great insight.
- 34:06SPEAKER_01: I'm so glad you said that because I feel like also, like, I mean, I hope that doctors, as they mature, like you open up more options for younger physicians to come join you to learn from like you should.
- 34:18SPEAKER_01: Yeah.
- 34:19SPEAKER_01: That's what I feel like I, you know, when I went to medical school, I graduated, that's what I felt like was always missing.
- 34:23SPEAKER_01: Like I could never find mentors.
- 34:25SPEAKER_01: And I've talked to a lot of like, like, you know, fresh out of like training physicians.
- 34:30SPEAKER_01: And it's like, it's so hard to find that mentor.
- 34:32SPEAKER_01: I can't imagine in in the world of aesthetic medicine how difficult it must be to learn that, like, you know, that bar.
- 34:39SPEAKER_01: And so to learn from doctors like, you know, that like the ones you represent, I mean, that's like a lifetime opportunity.
- 34:45SPEAKER_01: So it makes so much sense.
- 34:46SPEAKER_00: You're so right.
- 34:47SPEAKER_00: You're so right about that.
- 34:48SPEAKER_00: And I have a bunch of like personal regrets about mentors.
- 34:50SPEAKER_00: Like, and I never found that mentor to come and take me under their wing.
- 34:54SPEAKER_00: And I so wish I did.
- 34:56SPEAKER_00: That's made me want to mentor anytime I can get a chance because I wish I had that.
- 35:01SPEAKER_00: But it's really interesting in Voss Collection, we created this massive mentorship program.
- 35:06SPEAKER_00: And actually, this was a bit of Shannon Humphreys kind of brainchild a little bit too.
- 35:11SPEAKER_00: And she really helped pull this together.
- 35:13SPEAKER_00: We have all these young associates matched up with all these masters everywhere.
- 35:19SPEAKER_00: Oh, wow.
- 35:19SPEAKER_00: And so across the platform, like if you are a young associate, whether you're a doctor or a nurse or PA, it doesn't matter.
- 35:26SPEAKER_00: If you are in our platform, you can be in the mentorship program and you could go spend a day with Doris Day, or you can go spend a day with you know, Sue Ellen Cox or Shino Bey or any of those.
- 35:38SPEAKER_00: And we hear so much feedback of people going, thank you.
- 35:43SPEAKER_00: Because even when I was talking about having praxis and having multiple providers in a practice is great, it's so great to take them out of their environment completely and drop them off somewhere else and see a whole new perspective on things.
- 35:55SPEAKER_00: So it is super valuable.
- 35:57SPEAKER_01: No, that's that's amazing.
- 35:58SPEAKER_01: That's really amazing.
- 35:59SPEAKER_01: Hats off to you guys for doing that.
- 36:00SPEAKER_01: That I I can't applaud you enough for that.
- 36:02SPEAKER_01: And I'm Dominic, I could talk to you for hours.
- 36:04SPEAKER_01: I mean, you have so much knowledge and let's keep talking.
- 36:07SPEAKER_01: It's so much fun.
- 36:08SPEAKER_01: Yeah.
- 36:08SPEAKER_01: No, it's it's this is so cool.
- 36:10SPEAKER_01: And I love that Voss Collection is doing what it's doing.
- 36:13SPEAKER_01: You know, you guys are, I mean, I I would love 10 years down the line to see people follow in these footsteps, you know, in so many ways in the world of aesthetics, you know, like we've talked about a lot of it here, but I feel like this field is now finally kind of blossoming in a lot of ways, you know, there's so many different components, so many people coming in.
- 36:31SPEAKER_01: And I think now more than ever, it's so important to have that level of understanding of like where do you start and where do you aim for really, you know, like where is that uh line of like, okay, now I'm I'm doing things in a way that's going to really set me up for long-term success, you know, as a physician or a provider.
- 36:47SPEAKER_01: So it's very cool.
- 36:48SPEAKER_00: I think I think one last thing on that is I think from a provider standpoint, I think there is no end to if you can continue to care enough to continue to learn, there's no end.
- 37:02SPEAKER_00: And all of a sudden it starts compounding and becomes exponential because you're getting so good.
- 37:08SPEAKER_00: And your practice is going to thrive like mad if you just have this almost relentless yearning for learning and putting yourself in a perspective of you're like, I can just get so much better.
- 37:20SPEAKER_00: Let's keep getting better.
- 37:21SPEAKER_00: Because I've seen it in our own platform.
- 37:23SPEAKER_00: We have a Dr.
- 37:24SPEAKER_00: Sarah Lucaria, she's in Delta just outside of Vancouver, and she mentored with Dr.
- 37:30SPEAKER_00: Shannon Humphrey, and her entire practice changed literally within two months.
- 37:36SPEAKER_00: She went from a transactional approach to a 360 relationship approach, and that yearning for learning got her to a point where I think her practice is at least almost a 50% or something like that, just from that learning.
- 37:52SPEAKER_00: So wow.
- 37:52SPEAKER_00: There's some real life data there.
- 37:54SPEAKER_01: That's crazy.
- 37:55SPEAKER_01: That's really, really that's great to see, though.
- 37:57SPEAKER_01: That's great to see that it does work.
- 37:59SPEAKER_01: I mean, at the end of the day, that's how that's how you grow as a professional.
- 38:02SPEAKER_01: I mean, this is such an interesting topic, though, at large, because I'm I'm not gonna lie, I even when it comes to like being a consumer and shopping for where to go, you know, like trying to understand, like those of us who want to do our due diligence, you know, go to the best of the best, like having Voss Collection.
- 38:17SPEAKER_01: Like, I mean, is there a way that maybe some of our listeners, like if they're looking for a practice, like do can they go onto your website and learn about these practices?
- 38:24SPEAKER_01: Or how do you guys um?
- 38:26SPEAKER_00: Yeah.
- 38:27SPEAKER_00: So first things first, my vision on the Voss Collection website, and by the way, I get an amazing team.
- 38:33SPEAKER_00: They are so incredible, and I'm the dumbest person in the room, which by the way is the number one rule of leadership and the dumbest person in the room.
- 38:39SPEAKER_00: However, Voss is a very definitive vision that I had.
- 38:44SPEAKER_00: And the way we set up the website is like a magazine.
- 38:47SPEAKER_00: We're giving you tons of cool articles.
- 38:50SPEAKER_00: Every article we have has three videos from providers to help you get their perspective on every single thing.
- 38:57SPEAKER_00: And you're gonna get so much content there.
- 39:00SPEAKER_00: But you can also find a clinic.
- 39:02SPEAKER_00: You can also go and find one of the clinics in the collection there and get connected and hooked up with them immediately.
- 39:07SPEAKER_00: But what I would say is I'm the thing I'm most proud of is it's not a crappy corporate cold website.
- 39:14SPEAKER_00: It is content rich, like tons and tons of content, everything about aesthetics.
- 39:20SPEAKER_00: So it's at vosscollection.com and that's VOS with a single s collection.com.
- 39:25SPEAKER_00: So that's where that's where you can go and they can go to any of our clinics that way.
- 39:28SPEAKER_01: That's awesome.
- 39:29SPEAKER_01: Well, thank you so much, Dominic.
- 39:30SPEAKER_01: This was amazing.
- 39:31SPEAKER_01: And um, I would love to have you back for part two, three, four, whatever your schedule allows.
- 39:35SPEAKER_01: Cause I would love to come back.
- 39:37SPEAKER_01: We didn't even get into all kinds of fun stuff.
- 39:39SPEAKER_01: I know, I know.
- 39:40SPEAKER_01: We there's so much, there's so much.
- 39:42SPEAKER_01: And I I I don't want, you know, I don't want to pack it all into one interview.
- 39:45SPEAKER_01: So I'm gonna be bugging you.
- 39:46SPEAKER_01: Just know that.
- 39:47SPEAKER_00: I can't wait for part two.
- 39:49SPEAKER_00: Thank you so much, Ecta.
- 39:50SPEAKER_01: Thank you so much.