Embarking on a dental startup journey can be a thrilling yet challenging experience for aspiring orthodontists and dentists. To shed light on this topic, we present the latest episode of the Grow Ortho Podcast, where Luke engages in a captivating conversation with Matthew Veatch, the founder of Veatch Consulting. With almost two decades of experience in the dental industry, Matthew shares invaluable expertise and insights into the key elements that lead to successful dental startups.

Matthew Veatch’s journey in the dental industry has spanned nearly two decades, during which he has honed his skills in assisting startup dentists and orthodontists. He provides insights into the inception of Veatch Consulting and its transformative impact on numerous startup practices.

Selecting the right location is crucial for the success of a dental practice. Matthew emphasizes the role of location in determining the potential for growth. He shares valuable tips on conducting market research to identify areas with high growth potential.

Marketing plays a pivotal role in attracting patients to a dental practice. Matthew discusses the importance of allocating a budget for marketing efforts, encompassing digital marketing, community engagement, and traditional advertising.

Consistent marketing efforts are vital for sustained practice growth. Matthew stresses the significance of continuous marketing strategies to build a loyal patient base and maintain a positive reputation.

Starting a dental practice comes with challenges and potential pitfalls. Matthew highlights how Veatch Consulting offers expert guidance to help dentists and orthodontists make informed decisions and avoid common mistakes.

Veatch Consulting has facilitated successful dental startups across the nation. Matthew shares some of the proven strategies and systems that ensure clients’ success, including streamlined credentialing services, team building, and leadership training.

Beyond technical expertise, leadership skills are vital for dental practice owners. Matthew emphasizes the role of leadership in fostering success and growth, including managing teams and motivating staff towards common goals.

The dental industry faced unprecedented changes during the pandemic. Matthew and Luke discuss the impact of the post-pandemic economy on dental startups, including fluctuating interest rates and rising construction costs.

In this enriching episode of the Grow Ortho Podcast, Matthew Veatch imparts invaluable insights and advice for dental practitioners venturing into startups. From selecting the right location to implementing ongoing marketing strategies and building strong leadership, Matthew provides a comprehensive guide to ensure success in the dental industry. If you are considering starting your own dental practice or seeking to elevate an existing one, this episode is a must-listen for expert tips and strategies to stand strong in the market and become a leader in your community. Take a step towards building a thriving dental practice by tuning in to the episode now!

If you would like to get in contact with Matthew or to learn more about Veatch Consulting, you can visit the following links: website https://veatchconsulting.com/ or email [email protected].

Episode Chapters:

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In this episode, hosts Melissa and Luke have an engaging discussion about ‘Passion’, a core value at HIP. They kick things off by sharing their thoughts on what passion means to them. It’s not just about having a strong interest or hobby; it’s about something that drives you to do better and achieve more. They share some interesting stories from a recent team meeting, showing how they inspire their team members to find and harness their own passions.

A big part of the episode is Melissa’s story and how she came to HIP. This story really highlights how her passion aligned with HIP and the mission of our company.

Melissa and Luke also delve into the connection between passion and productivity. They extend this idea to leadership, discussing how passion from leaders can spark creativity and innovation within their teams.

Towards the end, Melissa and Luke give some practical tips on how to identify your passion, nurture it, and keep it alive in your day-to-day work life at HIP. They close the episode by emphasizing the vital role of passion in the workplace, particularly at HIP. They leave listeners with a little teaser about the topic for the next episode, keeping the excitement going.

Tune in to this insightful episode to learn more about the power of passion in your professional and personal life.

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Ultimately, deciding the future of your orthodontic practice should revolve around the type of work experience you desire. If you’re content operating a smaller team and striving to achieve personal success, then a lifestyle practice may be the perfect fit. If you aspire to reach new heights and contribute to the community’s oral health on a broader scale, then a scalable practice may be the way to go. Whichever path you choose, remember that having a positive work culture, efficient processes, and satisfied staff is critical for running a successful practice, enabling you to serve your patients to the best of your ability.

Have you ever heard of the saying “a penny saved is a penny earned?” It’s a great concept to live by in everyday life, but it’s not necessarily the best advice for business owners. The truth is, you need to spend money to make money. Billionaire entrepreneurs like Richard Branson and Elon Musk didn’t scrimp and save when they created their businesses – they invested heavily in the things that would bring them cash flow. If you’re wondering how to grow your business, it’s time to rethink your spending strategy. If you want to grow your business, you need to be willing to spend money to make money. It’s not enough to save up a thousand pennies – you need to invest that money in strategic ways that will bring you cash flow down the line. Don’t be complacent, focus on the patient experience, take a long-term view, and be intentional with your spending. By doing so, you’ll be setting yourself up for success and growing your business in the best way possible.

Starting your orthodontic practice growth journey can be a challenge, but finding the right people, being transparent about what growth looks like, and getting them to buy into your vision are critical steps to take. Building a team that shares your passion and commitment to growing your practice is essential to achieving success. Remember to be patient and take the necessary steps before hiring a COO to help manage your practice. With the right team in place and the right systems set up, your orthodontic practice can achieve great things. So take the first step today and start putting these strategies into action. With the right mindset and the right approach, you can achieve your growth goals and build a thriving orthodontic practice that you can be proud of.

By making small changes such as painting your walls, removing your glass barriers, building a fun and hardworking team, and providing exceptional patient service, you can make your orthodontic office a place for people to enjoy. Patients want to feel comfortable, safe, and respected when they visit your office. By creating a welcoming and positive atmosphere, you can differentiate yourself from other orthodontic practitioners and build a loyal patient base. With some effort, creativity, and empathy, you can transform your office into a destination that people look forward to visiting. You can only achieve this by changing your work culture. To improve the culture in your practice, you can start by asking yourself simple questions like:

Creating a positive office culture takes time and effort, but the benefits pay off in the end. A positive culture leads to happy patients, increased staff satisfaction, and improved business success. By ditching uncomfortable waiting room chairs, brightening up your office, celebrating your team, implementing team-building exercises, and getting inspired, you can create a workplace that fosters positivity and collaboration. So, take the time to invest in your team and your practice.

In conclusion, creating a positive practice culture takes time and effort. By establishing core values and DNA, having a growth mindset, setting clear expectations, hiring the right people, and creating the right energy, you can create a practice culture that your staff and patients appreciate. Remember that culture is a continuous process that requires constant attention and effort. Above all, cultivating a growth mindset is essential for building a thriving orthodontic practice. A growth mindset emphasizes effort, learning, and serving others, leading to a willingness to take on challenges, seek out new learning opportunities, and build a team of like-minded individuals. By adopting a growth mindset, you can overcome growing pains, establish a solid foundation for success, and become part of the top 1% of orthodontic practices. So, if you’re looking to take your practice to the next level, I encourage you to start by developing a growth mindset and putting it into action.

For full access to the book, you can email [email protected] to receive a printed copy or access the audiobook here. Otherwise, stay tuned for each chapter to be released via the podcast every week!

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Scaling your practice is a journey that requires knowledge, persistence, and dedication. By following the advice given in the previous three books, you now have the tools and resources to grow your practice successfully. Remember that scaling your practice is not a one-time event, but an ongoing process that requires continuous improvement. By tracking your numbers, implementing systems and processes, investing in marketing, focusing on patient satisfaction, and hiring the right people, you can achieve your goals and take your practice to the next level. To do this right, you need to have the following:

It would be best if you executed each of those things to its full potential and capacity to see exponential growth. And the most important part? Consistency, because true growth only occurs when true consistency is maintained

Owning and operating a successful orthodontic satellite practice requires investing time, effort, and resources to reach its full potential. To maintain and grow your satellite practice, consider the essentials: finding a model that works, scheduling appointments at full capacity, selecting the appropriate location, and being able to predict future hotspots. By focusing on these four aspects, you can establish a successful orthodontic satellite practice in a competitive market.

Designing and implementing a tried and tested model that guarantees success across all locations is essential for orthodontic practice growth. To develop such a model, focus on:

Embracing these components and staying true to your vision and values will ensure your practice’s success and help build a strong reputation and following. Opening up a satellite location can be an exciting opportunity, but it’s essential to maximize your current practice’s growth before branching out. Consider maximizing your current schedule, finding the right location, and paying attention to up-and-coming areas in your community to determine where and when to open up your satellite practice.

If you’re an orthodontist looking to expand your practice, opening a satellite location can be a great way to increase your reach and attract new patients. However, before you can even start planning the logistics of a new practice, you need to determine how much you need to be producing in a given timeframe to make it financially viable. Here are some tips to consider if you do decide that it’s the right time to open your first satellite practice:

Setting production goals for an orthodontic satellite location is a crucial step in the planning process. By assessing your current practice, calculating your overhead costs, and setting realistic production targets, you can create a roadmap for success that guides your marketing and growth strategies. With careful planning and ongoing measurement, you can build a thriving orthodontic practice that meets the needs of your patients and community.

Developing the right mindset is critical for scaling your practice. Maintaining a success-oriented attitude, focusing on your goals, embracing change, building a positive company culture, and seeking out support are excellent ways to stay on track and progress toward your goals. Remember that the growth process takes time, effort, and dedication, but with the right mindset, you can achieve anything. Don’t forget to re-evaluate your “why” regularly and implement the best practices that work for you and your team.

For full access to the book, you can email [email protected] to receive a printed copy or access the audiobook here. Otherwise, stay tuned for each chapter to be released via the podcast every week!

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The importance of measurement in reaching your goals cannot be overstated. Measuring your progress enables you to keep track of your achievements, monitor your performance, make data-driven decisions, and instill accountability. By setting up measurable goals and using effective tracking tools, you can stay on course and achieve success. Remember, the numbers don’t lie, and they serve as a constant reminder of your progress toward your target. So, embrace measurement and use it as a tool to drive your passion for reaching your goals.

Spreadsheets may have worked in the past, but they’re no longer a viable option for tracking and reporting your business operations. BI systems offer a wealth of advantages over spreadsheets, including automation, real-time reporting, customization, and the ability to handle big data. By adopting a BI system, you can streamline your processes, make more informed decisions, and ultimately, drive better outcomes for your business. It’s time to say goodbye to spreadsheets and hello to the future of business intelligence.

While PowerBI is an excellent analytics tool, it doesn’t provide the same level of optimization that Gaidge offers. Gaidge streamlines the process by consolidating your analytics in one place, providing real-time data and analytics, and simplifying the process of analyzing practice metrics. It’s easy to use and no technical expertise is required. Ultimately, Gaidge saves you valuable time and effort, allowing you to focus on growing your orthodontic practice.

Orthodontic practices need purpose-built reporting software specifically designed to meet their needs. Gaidge provides just that – an intuitive platform offering real-time and actionable data to help practices improve their business performance. Gaidge supports the practice with advanced analytics, easy-to-use metric tracking, and real-time data integration with other practice management systems. In short, Gaidge is the best reporting software for orthodontists who want to manage their business efficiently and grow their practices successfully. If you’re an orthodontist who is looking for a business intelligence platform that delivers precision analytics, effortless workflows, and unparalleled support – look no further than Gaidge.

Measurement is essential to achieving your goals. It provides you with valuable feedback, allows you to identify and address problems, and builds momentum and motivation for the long haul. Measuring progress helps keep you focused and accountable, and produces data that you can use to make changes to your strategy to stay on course. Recognizing your achievements along the way is vital for staying motivated and inspired. Your COO can handle this task, ensuring you are on course to achieving your goals. Remember, without measurements, you are working in the dark, and progress remains elusive.

For full access to the book, you can email [email protected] to receive a printed copy or access the audiobook here. Otherwise, stay tuned for each chapter to be released via the podcast every week!

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Integrating your core values into your practice’s people, processes, and practices is the key to building a positive workplace culture that attracts and retains top talent, fosters growth and success, and makes a positive impact on your community. By defining your core values, investing in your people’s development, aligning your processes with your values, and fostering a culture of collaboration and innovation, you can create a workplace environment where everyone can achieve their goals and make a difference in their work and in their lives. Remember, building a positive workplace culture is not just about what you do, but how you do it. So take the first step today and start integrating your core values into everything you do in your practice—your people, processes, and practices will thank you for it!

As your practice grows, so do your responsibilities. However, one aspect that should not be overlooked is the hiring process. As a small practice owner, you may have taken on hiring yourself. However, as your practice continues to expand into a medium or large-sized practice, it may be time to consider delegating this task to your COO. When it comes to the hiring process, there are several questions you need to consider:

When it comes to hiring in orthodontic practices, warm referrals are the key to success. They provide a trust factor from the outset, save time and money, reduce turnover rates, and have benefits for both the referred candidate and the referring employee. it’s critical to use PI assessments when recruiting new hires. Not only does it provide a comprehensive understanding of a candidate’s behavior and character, but it also eliminates biases, identifies any gaps, and significantly increases the chances that the candidate is the right fit for the role. By investing in qualified candidates, businesses can increase productivity, improve retention rates, and gain a competitive edge. Your first interview is about getting to know the candidate and them getting to know you. If you’re satisfied with their answers, proceed to the second interview. The second interview is where you’ll ask some of the harder questions. The podcast discusses the questions that are to be asked during each interview.

The onboarding process is the foundation of a successful employee experience. A good onboarding process sets the stage for a solid working relationship between you and your new hire. Start your onboarding process strong by creating a personalized plan that starts before their first day, introducing them to company culture, assigning a buddy, and monitoring progress regularly. A well-executed onboarding process empowers new hires to settle in and focus on learning their role with confidence.

Onboarding is not just about covering the basics – it’s about nurturing your new hires so that they can thrive in their roles and become valuable members of your organization. By creating a clear path, investing in training and development, fostering a culture of communication, providing meaningful feedback, and celebrating their successes, you can turn your new hires into masterpieces. Remember that the onboarding process is ongoing, and that each new employee will have unique needs and preferences. Here are some things to consider when breaking down the onboarding process:

In conclusion, tracking the progress of every new hire can help identify issues early on, evaluate employee performance, map employee growth and development, increase employee retention, and create a positive work culture. It is essential to embed this process into the onboarding process to ensure employees start their role and develop quickly and effectively.

Great leaders are the backbone of any successful company. Effective leadership inspires, motivates, and empowers a team to achieve its goals and reach its full potential. When leaders create a clear vision, build trust, encourage continuous learning, foster a positive company culture, and lead by example, they set their team up for success. Remember, your team’s success is your success, so invest in your leaders and empower your team to achieve greatness.

For full access to the book, you can email [email protected] to receive a printed copy or access the audiobook here. Otherwise, stay tuned for each chapter to be released via the podcast every week!

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Building a strong brand for your orthodontic practice is essential in today’s competitive market. By identifying your unique selling proposition, developing a recognizable visual identity, building a strong online presence, focusing on patient experience, and maintaining consistency, you can create a brand that patients will know and trust. A strong brand can help you stand out from the competition, grow your practice, and become the go-to choice for patients seeking orthodontic treatment.

If you’re looking to grow your business sustainably, you cannot afford to discount the importance of your brand and culture. Your brand is a perception, and that perception is associated with visual images that help bring it to life. Your culture, on the other hand, is your core values brought to life by your employees and delivered to your patients to create a positive experience. A strong brand identity and culture that aligns with your employees’ and customers’ values can differentiate your business from your competitors, increase sales, and drive your overall success. Remember, your brand and culture are not short-term approaches, they should be reinforced daily and integrated into every aspect of your business’s identity.

Your logo is the simple visual people will remember you by. A strong, carefully designed logo can help establish a lasting relationship with your patients, differentiate you from your competitors, and build a brand identity that resonates with your customers. Your logo should embody your practice’s culture, values, and mission and be visually appealing, unique, and memorable. Investing time in designing a strong logo can pay dividends in the long run, allowing you to grow your practice, establish a loyal customer base, and build a strong brand that resonates with your community.

Marketing is an essential component for any business or practice to reach out to its customers and communities. However, it’s important to maintain a budget and track your expenses while investing in marketing and outreach activities. This not only ensures a strong ROI but also helps to prevent overspending. Here are five actionable steps you can take to determine your marketing budget and plan out an effective community outreach for your practice:

Hiring marketing and outreach staff can bring massive value to your practice. As we have established, smart debt management is critical, even with the additional support system. By following the appropriate steps, you can confidently adopt effective marketing and outreach measures and ensure that you don’t break the bank in the process. Remember, always track your progress, so you know where you stand and where you are headed.

Promoting a positive culture in your practice requires more than just one person. It’s a team effort. Having the right team members in place who share your vision and core values is key. Make sure to hire individuals who are a good fit for your team, provide ongoing training and coaching, and reward team members who go above and beyond. Leading by example, open communication, and regular team-building activities can also play a vital role in promoting a positive culture. Remember, when you invest in your team, you invest in your practice’s future success.

For full access to the book, you can email [email protected] to receive a printed copy or access the audiobook here. Otherwise, stay tuned for each chapter to be released via the podcast every week!

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Running a successful orthodontic practice can be a rewarding career, but it’s not easy. Between managing patients, staff, and finances, it’s a full-time job that takes a ton of work. As a trained orthodontist, your main focus should be on fixing patients’ teeth and bite issues, not on business operations. Splitting your time between both areas can be overwhelming, which is why outsourcing your business management may be the solution you need.

an org chart is an essential part of running a successful practice. It helps to define roles and responsibilities, increase efficiency and productivity, plan for future growth, facilitate decision making, and promote accountability. Below are three org charts for dependent on the size of the practice:

By mapping out your org chart, you’ll set clear expectations for your staff and allow for efficient communication and collaboration. Remember, your org chart is not set in stone, and it should change as your practice grows and evolves. At the same time, if you are content with not reaching a Large Practice Org Chart, how you run your practice will all be dependent on whether your vision is about the money or about the mission. A lifestyle practice is focused on money; whereas, a mission-driven practice emphasizes improving patient care and contributing to your chosen community in various capacities.

Accountability is essential for building a successful and sustainable team. As a leader, it’s your responsibility to set expectations, lead by example, encourage feedback, celebrate success, and provide support. If you take accountability seriously, your leadership team and staff will follow your lead and work towards meeting your goals in the most efficient way possible. Remember, accountability is an ongoing process, but by staying consistent, you can create a culture of accountability that will drive your team towards success.

The journey from small to medium to large can take time and effort, but building a successful team with a thriving culture is possible. It requires a commitment to your practice’s brand, core values, mission, and vision. By creating a welcoming culture where people feel valued, respected, and appreciated—your practice can thrive. Encourage your team to pursue personal growth, invest time and effort in crafting a strong brand, consistently maintain it, align new recruits to your values, and uphold the culture to unlock the full potential of your practice.

To structure an ideal practice, orthodontists must have a clear vision, a robust business plan, streamlined operations, a positive patient experience, and an invested team. These elements will lead to a successful practice that provides top-notch clinical care while also driving growth and profitability. By implementing these practices, orthodontic practices can create a positive impact in the field while securing long-term success.

For full access to the book, you can email [email protected] to receive a printed copy or access the audiobook here. Otherwise, stay tuned for each chapter to be released via the podcast every week!

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Building a successful orthodontic practice requires more than just exceptional clinical skills. You need to effectively manage the operations, finances, and staff to ensure that your practice is profitable and efficient. However, as the owner and clinician of your practice, your focus should be on patient care and clinical excellence. So, how can you manage these essential business aspects without compromising the quality of care that you provide? The answer lies in hiring a Chief Operating Officer (COO), or an integrator, who can help scale your practice and align your operations with your core values and DNA.

It’s essential to view your COO as your business partner. They should be able to bring your vision to life, not just take orders and follow instructions. Your COO should be able to challenge you when needed and offer suggestions to improve your business. They should have the same level of commitment and dedication as you have towards your company, and they should share your passion for growth. The role of a COO is critical to the success of your business, and it’s not a job for everyone. Your COO needs to have the right skills, experience, and personality to fit in with your team. They should be able to work behind the scenes and on the front deck, solving problems, organizing, and communicating effectively. It’s their job to ensure that your business is profitable, and they should have a clear understanding of your financials, so they can help you make informed decisions.

One of the biggest challenges that businesses face is deciding whether to promote from within their organization or hire externally to fill roles. While both options have their advantages and disadvantages, making the right choice is essential to ensure that your business has the right people in the right positions. When it comes to promoting from within, you have the benefit of having someone who already knows the ins and outs of your business. On the other hand, hiring externally can bring fresh ideas and perspectives to the table. But how do you make the right decision? Ultimately, the decision to promote from within or hire externally will depend on a variety of factors, including your business goals, the skills and experience required for the role, and the current workforce composition. The best approach is to evaluate each individual case on its merits and consider the specific needs of your business. If you already have someone in your organization who has the necessary skills and experience to excel in the role, promoting from within can be a great option. On the other hand, if you need to tap into a wider pool of talent or bring in fresh ideas to the business, hiring externally may be the better choice.

The role of a COO is multifaceted and critical to any organization’s success. They must balance the CEO’s vision with the practical realities of running the company on a daily basis. A good COO can bring your vision to life by developing a strategic plan, managing finances, people, technology, and relationships. While the CEO must relinquish some of the control to the COO, it is still essential to stay involved and ensure accountability. It’s also the COO’s responsibility to manage and ensure that messaging is consistent among team members, directing your leadership team to success. Additionally, clear messaging maintains organizational coherence, strengthens patient trust, and ensures consistency across all channels of communication.

In summary, a Chief Operating Officer’s role is a complex and challenging one that requires a diverse set of skills. They must manage staff, deal with emergencies, handle finances, and communicate effectively to ensure the practice runs smoothly. Like building Rome, a COO’s job requires teamwork and cooperation from the entire leadership team to accomplish the practice’s goals successfully. With the right COO in place and a supportive leadership team, a medical practice can navigate these daily challenges and thrive.

For full access to the book, you can email [email protected] to receive a printed copy or access the audiobook here. Otherwise, stay tuned for each chapter to be released via the podcast every week!

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As a business owner, you are constantly looking for ways to grow your organization. However, growth is not just about increasing revenue, customers, or market share. Sustainable growth is about creating long-term value for your business while ensuring that your operations are efficient, effective, and profitable. To achieve this, you need two foundational factors: processes and systems and a team that is accountable and aligned with your vision and mission.

As an orthodontist, it is easy to get caught up in the intricacies of patient care and the technical aspects of your profession. However, it is equally important to take a step back and think about the business side of your practice. Who is responsible for ensuring your vision becomes a reality? While it may be tempting to take control and handle everything yourself, delegating practice management to qualified professionals is essential for building a successful and thriving orthodontic practice. You must have a vision for your practice so that you know what brand you want your patients and community to buy into and what culture you have in mind that will uphold that brand. But as you work to make your vision a reality, it’s essential to consider who is involved in your journey. Building a successful practice requires teamwork, and it’s crucial to have the right people in place to execute your vision.

As a practice owner, your core values are critical to building a successful practice. They define your culture, communicate your values to patients and guide every aspect of your business. Investing in defining and reinforcing your core values creates a culture that reflects them and attracts like-minded people. To create a culture that promotes growth, start by identifying your core values, incorporating them into every aspect of your practice and regularly assessing them. By doing this, you define your practice’s identity and purpose, which is essential for sustained success.

Defining your company’s DNA is critical to its success. Your DNA is what makes your company unique and sets it apart from the rest. The benefits of having a strong DNA are clear—it defines your identity, attracts your ideal customers, helps you make better business decisions, creates a consistent customer experience, and drives innovation. When everyone in your company aligns with your DNA, it creates a cohesive culture that supports your business goals. So, take the time to define your company’s DNA and use it to propel your business forward.

In conclusion, building the practice of your dreams requires having a clear vision, a strong team, and a commitment to hard work and dedication. Whether you choose a lifestyle practice or a scalable practice, the key is to stay focused on your goals and to take action every day to achieve them. Remember to surround yourself with people who share your values and to continuously improve your knowledge and skills. With dedication and hard work, you can build the practice of your dreams and achieve your business goals.

For full access to the book, you can email [email protected] to receive a printed copy or access the audiobook here. Otherwise, stay tuned for each chapter to be released via the podcast every week!

The post Introduction & Chapter 1 of The Scalable Practice appeared first on HIP Creative.