Population location and pipe dreams
March 26, 2018
Whether you’re setting up a new practice or reviewing your current one, something often overlooked is the composition of the population you serve.
Many people dream of basing themselves in a specific geographic location and envisage great success without giving any thought to the catchment area their choice of position serves.
While this may seem a daunting prospect, this need not entail extensive research conducted by a global organisation at great expense. It’s actually quite a simple exercise if you know how to go about it the right way.
At Vizibiliti, we are happy to share our insights and assist you in conducting the exercise for yourself, because we know that, ultimately, it’s not this analysis that’s important but rather your response to the information and you resulting decisions.
To demonstrate the simplicity of getting the information, we refer to the SATS SA website and specifically to the population statistics.
This is publically available scientific information used by many companies in South Africa in their business research. This information is used by numerous investors and policy makers to inform decisions relating to development. While the sceptics amongst you may question their accuracy, please remember that in the absence of any other accurate data, this is our guide.
This publication gives the midyear 2017 population statistics.
What it reflects in Table 10 is the number of persons by gender and age category.
Furthermore table 11 shows the numbers by geographic region.
With these tables alone, you can already make a useful to start on working out the size of your potential target market.
You could then go one step further and obtain the population information of your city from the municipal records. There are excellent data sets graphed on the population size, economic profile, and multiple other very useful statistics. I was astounded to see the information on cellphone coverage and access to the internet per person per municipality.
Here is an example for you to reference and discover:
These facts alone tell you only half the story. The other half requires a little more effort but is not beyond your ability.
Ask the question: Who else offer the services you do and where are they located?
I know you will have now realised the obvious, which is to identify the gaps.
They probably exist because they are the less attractive spots to work in.
While this may seem to be a negative, it isn’t! Many professional practitioners have built fantastic lives for themselves serving communities in lesser known places, and they’ve gone on the build fulfilling, profitable and far less stressful professional careers, often envied by their peers.
Whether you are starting out thinking of moving or just improving your business performance, know that Vizibiliti has the skill to assist you regardless of whether you’re located in Riverdale or Rosebank.
BY ALISON MAYTHAM
Founder & Director, Vizibiliti Management Services“There are many different factors that determine the success of your practice – but, as a busy healthcare professional focusing on the needs of your patients, you may not always have the time to focus on the many demanding, and often complex, facets of managing your business. Vizibiliti provides you with easy access to insightful, comprehensive practice and business management solutions and advice across all stages of your business journey – from establishing, growing or closing your practice.”