The Remarkable CEO for Chiropractors

In this episode, you'll discover:

• How to Use SCORECARDS and Metrics to drive revenue and growth
• Using KPI ‘s  and Goals to Drive Productivity and INCENTIVES 
• Understand compensation for the Production-Based Employee 
• CEO’s have a responsibility to drive a profitable business 
   

Episode Highlights

02:26 - The second approach to the bonus system is managing by objectives by creating accountability in your business. 

06:08 - The differences between a relational and transactional environment. Which do you practice?

12:22 - A business builder associate will be energized by the opportunity to have compensation tied to their productivity and their achievement of the goals based on their KPIs.
16:24 - When you are managing by objectives, the goal is not to just support them but to help them feel supported, and help them win.

18:43 - Building an intrinsic alignment between their personal,  professional, and financial goals and the business growth, creates a win, win, win scenario.

21:39 - Looking for a way to enhance metrics, statistics, and reporting in business? Join Dr. Stephen and Dr. Noata Hashimoto from TrackStat, a patient tracking platform that helps to ensure better patient tracking, improves statistics, and enhances communication through online scheduling, appointment reminders, and reviews. With TrackStat you can dig deeper into why a number may be down and identify issues that require training early and easily. 

Resources Mentioned

To download your copy of the TRP Scorecard and Remarkable Bonus Systems Worksheet, please click here: https://theremarkablepractice.com/podcast-ep196-bonusandscorecard

For more information about TrackStat please visit: www.trackstat.org

To learn more about the REM CEO Program, please visit:  www.theremarkablepractice.com/rem-ceo

Schedule a Brainstorming call with Dr. Pete

Dr. Stephen’s LinkedIn

Dr. Peter’s LinkedIn

The Remarkable CEO Website

Dr. Stephen’s Book – 

The Remarkable Practice: The Definitive Guide to Build a Thriving Chiropractic Business

In this episode, you'll discover:

• The Right Bonus System will ENERGIZE Your Team
• Why you should make it YOUR GOAL to bonus your team. 
• How to set your Bonus Budget 
• Discover WHEN to bonus, HOW to bonus and WHO to bonus. 
• Do You Have a PROFITABLE Business Model?
   

Episode Highlights

01:58 - You are developing leaders, evaluating your team and valuing them in a way where you're able to compensate them well for the work that's being done.

07:39 - The first concept for the bonus system is to manage Expectations and Agreements.

14:39 - A look at establishing your base case scenario in order to determine where you can make changes for growth.

19:27 -  If you're setting your goals at base case scenario, anything above base case would be considered a super threshold and that's when our bonus system starts to kick in.

25:46 - Setting up a bonus budget and how to ensure you have the money set aside instead of dipping into savings. 

28:39 - When you combine the bonus system and quarters with the scorecards, where you are meeting in and checking in on a weekly and monthly basis it decreases the chances of someone gamifying the system.

29:39 - An example of how to calculate the amount of bonus everyone receives.

Resources Mentioned

To download your copy of the Remarkable Bonus Systems Worksheet, please click here: https://theremarkablepractice.com/podcast-ep195-bonusworksheet

To learn more about the REM CEO Program, please visit:  www.theremarkablepractice.com/rem-ceo

Schedule a Brainstorming call with Dr. Pete

Dr. Stephen’s LinkedIn

Dr. Peter’s LinkedIn

The Remarkable CEO Website

Dr. Stephen’s Book – The Remarkable Practice: The Definitive Guide to Build a Thriving Chiropractic Business

In this episode, you'll discover:

• The First Driver: How to Create A Purpose-Driven Practice  
• The Second Driver: How to Create A Team-Driven Practice  
• The Third Drive: How to Create a Data-Driven Practice 
• Audit your business, grade your measure of alignment and make the necessary adjustments. 
   

Episode Highlights

02:33 - The significance of being committed to alignment throughout your practice.

08:56 - Your purpose is the foundation of your practice, followed by team and data

11:37 - To be purpose driven means you have a vision and a mission.

19:07 - Once your purpose is established it is naturally going to move into the team and developing that purpose driven team.

25:47 - Find your points of resistance, people who are not engaged and participating. 

28:05 - Get your processes in alignment so that there is a systemized approach to meetings, training, and your data reports. 

Resources Mentioned

To learn more about the REM CEO Program, please visit:  www.theremarkablepractice.com/rem-ceo

Schedule a Brainstorming call with Dr. Pete

Dr. Stephen’s LinkedIn

Dr. Peter’s LinkedIn

The Remarkable CEO Website

Dr. Stephen’s Book – The Remarkable Practice: The Definitive Guide to Build a Thriving Chiropractic Business

In this episode, you'll discover:

• Be Intentional and Deliberate: Environment Trumps Will-Power 
• The Above-Down, Inside-Out Family 
• What BUBBLE do you want your kids formed and shaped by in today’s world?
• Healthy and Happy children are the key to living a Remarkable Life 
• Raise the Adults that You Want to Spend Time With 

Episode Highlights

04:34 - Your families represent your brand. They represent your message.

06:46 - We can often see things that we are doing at work that would integrate well into our family life and vice versa. 
11:38 - They say that you cannot raise your kids in a bubble but you can, just choose the bubble that you want to raise them in. 

15:32 - What is the intention behind everything that we do? We are raising children so that we can send them out ready to go. 

19:45 - You have a window of opportunity that has to be protected. Create a safe haven for them to learn who they are. 

Resources Mentioned

To learn more about the REM CEO Program, please visit:  www.theremarkablepractice.com/rem-ceo

Schedule a Brainstorming call with Dr. Pete

Dr. Stephen’s LinkedIn

Dr. Peter’s LinkedIn

The Remarkable CEO Website

Dr. Stephen’s Book – The Remarkable Practice: The Definitive Guide to Build a Thriving Chiropractic Business

The associate doctor role done right is essential for your business to scale well. Success in this relationship means having the answer to three critical questions. First, knowing what you want to accomplish as a business owner brings in an associate. Next, knowing what the associate doctors role will be within the business. And lastly, knowing how the relationship will end. This seems simple right, truthfully, it’s easier said than done. Thankfully, we have done this right many times and now we are here to help you. 
 

Episode Highlights

02:32 - A recap of Episode 191 about when it is time to bring in an Associate Doctor and how different doctors are hardwired for different outcomes.

11:02 - Identify your own zone of genius so that you can pinpoint where you need to be and have an Associate that works in their zone of genius. 

15:12 - What is your reason for bringing in an Associate; growth or freedom?

20:54 - A look at the long term relationship building between a caregiver associate or a business builder

27:21 - Setting up different compensation models based on the different expectations, agreements and roles. 

Resources Mentioned

For more information about the Remarkable Associate Doctor Program, please visit: https://theremarkablepractice.com/rem-associate/  

To learn more about the REM CEO Program, please visit:  www.theremarkablepractice.com/rem-ceo

Schedule a Brainstorming call with Dr. Pete

Dr. Stephen’s LinkedIn

Dr. Peter’s LinkedIn

The Remarkable CEO Website

Dr. Stephen’s Book – The Remarkable Practice: The Definitive Guide to Build a Thriving Chiropractic Business

The reason why 67% of associate doctor relationships fail is because the CEO is missing at least one key piece of the puzzle. Remarkable CEOs must get this one key relationship right to scale the business successfully. In this episode, we uncover the 6 reasons associate doctor relationships fail and where you need to focus as the CEO to make the associate doctor experience win-win-win!
 

Episode Highlights

04:05 - As you are going from building into scaling, one of the criteria to transition is bringing in an associate doctor.

08:54 - There is a disconnection with doctors who don’t know how to effectively bring in an associate as well as associates who do not understand the significance of their role. 

12:07 - There's a whole spectrum as far as how people are hardwired to behave and this may be amplified for chiropractors. 

18:14 – You have to have a bigger Why than what you could ever accomplish on your own. The Why has to be big to be able to make room for other people with their Why to come with you.

23:50 – If you don't have a system in place for training, onboarding, developing, retaining and accountability, then it is not time to bring in an associate doctor.

25:19 - A breakdown of the 6 things you need in place to be able to effectively bring in an associate. 

Resources Mentioned

For more information about the Remarkable Associate Doctor Program, please visit: https://theremarkablepractice.com/rem-associate/

To learn more about the REM CEO Program, please visit:  www.theremarkablepractice.com/rem-ceo

Schedule a Brainstorming call with Dr. Pete

Dr. Stephen’s LinkedIn

Dr. Peter’s LinkedIn

The Remarkable CEO Website

Dr. Stephen’s Book – The Remarkable Practice: The Definitive Guide to Build a Thriving Chiropractic Business

In this episode, you'll discover:

• What makes you unique in the marketplace?
• Find one thing, make that essential, then 10X it
• The CEO must Drive the narrative - market message and promise 
• Your unique success proposition for your patients and your community 
• All additional recommendations should support and optimize the effectiveness of the chiropractic adjustment - not detract or distract 
  
   

Episode Highlights

02:26 - You have to ensure that all your patients understand the Main Thing, which is the Chiropractic Principle.  But as you incorporate other parts of a wellness lifestyle it is easy to lose sight of it. 

08:10 - When you pivot, you still must have your pivot foot planted firmly on the principle of chiropractic. Everything you do in your practice should be to support and optimize the effectiveness of the chiropractic adjustment.

15:08 - Because people are coming with more and more complex issues, as you bring in more services, ensure the patients understand how it relates to their chiropractic treatment.

18:17 - Stay focused on the unique thing that you have to talk about, that chiropractic care is a lifestyle success strategy for healthy human beings and you have all these complement services around to support it. 

Resources Mentioned

To learn more about the REM CEO Program, please visit:  www.theremarkablepractice.com/rem-ceo

Schedule a Brainstorming call with Dr. Pete

Dr. Stephen’s LinkedIn

Dr. Peter’s LinkedIn

The Remarkable CEO Website

Dr. Stephen’s Book – The Remarkable Practice: The Definitive Guide to Build a Thriving Chiropractic Business

In this episode, you'll discover:

• Everything we want out of our business can be found on the other side of greater accountability  
• The key difference between training and meeting 
• Success hack and success strategies that pay you back 52 weeks per year 
• Empowering leaders who need to lead 
• Helping your overcome your inner control freak 
   

Episode Highlights

02:04 - Optimizing the rhythms of your business is truly taking it to the next level.

06:45 - The action step of scheduling out your meetings, and meeting rhythm for the year creates greater accountability.

11:12 - If you want your business to be one that everybody wins, it comes back to these rhythms having structure.

18:07 -  The structure of the meeting enables the function of being able to delegate the leadership to another person.

22:49 - Your meetings should lead to positive change, to growth, to transformation leading, to the outcome that you want to create. 

23:37 - Your job as the visionary is to elevate the energy of the room and get everybody engaged. 

26:17 - Dr. Nick Silveri, from LVRG Media joins Dr. Pete to share his insights on leveraging AI in content marketing for chiropractors.  Listen as he discusses how it can be used to speed up research, develop key talking points and provide a great start in creating your own authentic content.

Resources Mentioned

To download your copy of the Team Meeting Agenda PDF, please visit: https://theremarkablepractice.com/podcast-ep189-teammeeting

For more information about LVRG Media, please visit their web site at: www.lvrgmedia.com

To learn more about the REM CEO Program, please visit:  www.theremarkablepractice.com/rem-ceo

Schedule a Brainstorming call with Dr. Pete

Dr. Stephen’s LinkedIn

Dr. Peter’s LinkedIn

The Remarkable CEO Website

Dr. Stephen’s Book – The Remarkable Practice: The Definitive Guide to Build a Thriving Chiropractic Business

In this episode you'll discover:

• CEO’s need Remarkable Standards to optimize the business and maximize profits
• You need accurate and current financial reporting to make data-driven decisions
• The Remarkable Money Metrics Financial Snapshot is the complement to the Vital Signs Performance Metrics Report 
• Data drives logic-based decision making…In the absence of data - emotions take over
• High emotion = low logic; high logic = low emotions (stress) 
  
   

Episode Highlights

04:37 - A recap of direct and indirect costs moving into an introduction of discretionary earnings.

07:12 - How much should your chiropractic office be investing in training and development?

14:34 - You must have the back office staff to support the business, especially when it comes to exiting it. Account for the positions in your accountability chart.

17:55 - An example of payroll costs for a million dollar company. You have to know your payroll costs. 

21:45 - How the economies of scale affect small and larger businesses when it comes to expenses. 

23:51 - A look at the seller’s discretionary earnings within a business. 

27:56 - Success Partner, Bill Esteb of Perfect Patients, joins Dr. Pete to discuss the effectiveness of websites for the chiropractic field.  Listen as they share the need to not only have a website but one that will turn your reputation into conversion through a well designed website and persuasive content that will turn your visitors into patients. 

Resources Mentioned

To download your copy of the Profit & Loss Metrics PDF, please visit: https://theremarkablepractice.com/podcast-ep188-profitloss

To learn more about the Team Building Immersion visit: https://theremarkablepractice.com/upcoming-events/

For more information about Perfect Patients, please visit their web site at: https://www.perfectpatients.com/

To learn more about the REM CEO Program, please visit:  www.theremarkablepractice.com/rem-ceo

Schedule a Brainstorming call with Dr. Pete

Dr. Stephen’s LinkedIn

Dr. Peter’s LinkedIn

The Remarkable CEO Website

Dr. Stephen’s Book – The Remarkable Practice: The Definitive Guide to Build a Thriving Chiropractic Business

About Our Guest:
Prior to joining Barba CFO Robert spent 14 years as the Chief Financial Officer at Merida LLC which is a textile design and manufacturing company located in Fall River, MA. Robert Segal was responsible for implementing and maintaining all financial, and human resource aspects at Merida along with other companies he had the privilege of working with.

While at Barba CFO Robert will draw upon 30 years of professional experience in both public accounting and private business and will advise and direct small businesses on financial and operational matters to achieve profitability and growth.

Robert is adept at helping others understand business finance and how it can impact their business due to his experience in multiple industries dealing with owners with varied levels of experience. He is personable, patient and unflappable allowing him to join any team with ease.

Robert holds a Bachelors of Business Administration with a concentration in Account from the University of Massachusetts, Amherst.

Robert is a life long resident of Massachusetts, growing up in Randolph and currently residing in Mansfield with his wife, son and daughter, dog and cat. He spends most of my time with his immediate and extended family (parents, brother and sister's family) and enjoy traveling with the whole clan. He also enjoys playing golf during his free time.

https://www.barbacfo.com/

Do you know your Money Metrics?...Most DC’s don’t.  Let’s fix that.

• Which Money Metrics matter?
• Financial Reporting For Dummies
• Balance Sheets vs. P and L vs. CEO’s Strategic Reporting
• If you do not measure it - you cannot master it! 
• The Remarkable Money Program teaser 

Episode Highlights

05:01 - Marrying the Vital Signs to the financials is next level, and you can just make such good decisions knowing what the downstream impact of things are.

07:43 - You can look at your financial reports through different lenses depending on your goal and your role within the company.

15:26 - The three basic financial statements that you need to be reviewing on a regular basis. 

23:14 - In a chiropractic office your gross profit should be between 70 and 80%. 

27:46 - Gain an understanding of what true fixed and variable costs are.

31:57 - You should be investing in your business. Nothing is going to pay you the returns that your business will and you have total influence and control when it comes to your business.

37:05 - The importance of profit sharing with the entire team as a way to build agency culture. 

41:33 - Success Partner, Dr. Omar Ayouby from Innate Radiology, joins Dr. Pete in this bonus interview. Having merged his background as a radiographer and chiropractor, Dr. Omar was able to provide teleradiology services to Australian Chiropractors. Learn about his entrepreneurial spirit that drove the creation of Innate Radiology and how they can help you decrease your liability while increasing your services as well as your bottom line.

Resources Mentioned

To download your copy of the Profit & Loss Metrics PDF, please visit: https://theremarkablepractice.com/podcast-ep187-profitloss  

To learn more about the Team Building Immersion visit: https://theremarkablepractice.com/upcoming-events/

For more information about Innate Radiology please visit: https://www.innateradiology.com.au/  

To learn more about the REM CEO Program, please visit:  www.theremarkablepractice.com/rem-ceo

Schedule a Brainstorming call with Dr. Pete

Dr. Stephen’s LinkedIn

Dr. Peter’s LinkedIn

The Remarkable CEO Website

Dr. Stephen’s Book – The Remarkable Practice: The Definitive Guide to Build a Thriving Chiropractic Business

About Our Guest:
Prior to joining Barba CFO Robert spent 14 years as the Chief Financial Officer at Merida LLC which is a textile design and manufacturing company located in Fall River, MA. Robert Segal was responsible for implementing and maintaining all financial, and human resource aspects at Merida along with other companies he had the privilege of working with.

While at Barba CFO Robert will draw upon 30 years of professional experience in both public accounting and private business and will advise and direct small businesses on financial and operational matters to achieve profitability and growth.

Robert is adept at helping others understand business finance and how it can impact their business due to his experience in multiple industries dealing with owners with varied levels of experience. He is personable, patient and unflappable allowing him to join any team with ease.

Robert holds a Bachelors of Business Administration with a concentration in Account from the University of Massachusetts, Amherst.

Robert is a life long resident of Massachusetts, growing up in Randolph and currently residing in Mansfield with his wife, son and daughter, dog and cat. He spends most of my time with his immediate and extended family (parents, brother and sister's family) and enjoy traveling with the whole clan. He also enjoys playing golf during his free time.

https://www.barbacfo.com/