The Remarkable CEO for Chiropractors

The goal of all marketing investments should be to get the flywheel spinning in the most effective and economical way. The Slingshot System shows you how to generate more new revenue by reinvesting into growing your business.  

Here’s the kicker…this system is a powerful jump-starter in that it requires little to no money to start!  Use this system and you will be generating New Patients at no cost or low cost. As you generate new business and new revenue, we recommend you apply the Rule of Thirds for reinvesting back into your business to create greater practice growth – while simultaneously creating more Peace of Mind.

Tune in and learn more! 

Episode Highlights

02:35 - A review of the referral and internal lead generation concepts and targeting the 60% of your patients that are not necessarily making those referrals

06:28 - Implementing the slingshot system in order to reinvest into creating more new patient conversion

09:37 - Scaling is a key process in all of this so that you are not hitting a ceiling on your conversions but can continue to grow predictably each month.

11:29 - Uncovering the concept of the Flywheel Effect on your practice

14:27 - You are always one degree of separation away from a referral no matter how the new patient came in

16:27 - Tracking your referrals is a key way to monitor if your systems are really working

17:52 - Creating the “peace of mind account” utilizing the rule of thirds

20:21 - Are you getting into digital marketing but are not sure where to start? Stay tuned for the Success Partner interview with Billy Sticker of Chiro Candy.  Listen in as they discuss how high-quality digital marketing increases your new patient lead generation, the untapped conversion power of Tik Tok, and starting the education process through social media to increase the buy-in of new patients. Uncover the art of using analytics to reverse engineer the outcomes you desire in your marketing campaigns. 

Resources Mentioned

To register for the Conversion Retention Immersion, please visit our site here: https://theremarkablepractice.com/upcoming-events/

For more information about Chiro Candy please visit: www.chirocandymarketing.com

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 likelihood is that 80% of your referrals right now are coming from only 20% of your patients…so you're missing 60% of the low hanging fruit on the tree. Let’s fix that. 

In this episode, we share insights into the process-driven system that helped us consistently generate more than 20-30 Internal New Patients per month for 30+ years combined…the same reproducible system that is producing remarkable results right now for docs around the globe. 

Remember, the promotion of chiropractic is an act of kindness and a moral obligation. This system is not just another great opportunity, it’s a great responsibility.
 

Episode Highlights

01:37 - Creating an influx of new patients each month really starts at the heart; with your vision and leadership

03:58 - Education is a key component of attracting new clients

08:09 - Attraction will begin with certainty: certainty of yourself and your team and as referrals come in, it shows the certainty of your patients.

10:20 - Finding referrals is done through the social proof of an existing patient. This is all part of the 80/20 rule.

15:29 - The benefit of having a tracking mechanism for identifying who is going to work their way in or their way out of your practice

22:55 - Discover some of the opportunities that you can create to increase the likely hood of getting referrals.

29:31 - Make that empathetic connection from day one. When you're communicating you are sharing from the heart with the person that's sitting across from you.

33:46 - When you have the commitment, then ensure they are getting the knowledge they need in order to continue with care and share that information with others

37:51 - As the episode wraps up, Dr. Stephen has a conversation with Success Partner, Dr. Jeff Langmaid from Chiro Bar.  Discover how Chiro Bar connects chiropractors with other chiropractors that are seeking referrals for family and friends in other parts of the country.  Looking for continuing education and events or searching for a new position? Chiro Bar provides listings for you to easily find these opportunities. Listen in to find out more. 

Resources Mentioned

To register for the Conversion Retention Immersion, please visit our site here: https://theremarkablepractice.com/upcoming-events/

Download the Remarkable Referral Machine Scripting packets here: https://theremarkablepractice.com/podcast-ep145-npscripts

For more information about Chiro Bar please visit:  www.thechirobar.com

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

One of the most common questions we get asked is regarding compensation – how to compensate yourself as the Owner. In this episode, we explain exactly how you should be paid 3 ways. Setting up your compensation correctly today pays you now - and later.  If you do this right, you will spend your “Scale Season” building the asset value of your practice. 

When’s the best time to plant an oak tree?  50 years ago! 

What’s the second-best time?  Today!  

Starting today, you need to begin planning for your Exit, even if it’s long before you plan to exit because when you begin with the end in mind, you will Build and Scale a practice that has the highest market value and one that people will compete to buy! 
 

Episode Highlights

0:51 - A special recognition and thank you to all of the listeners that have been reaching out,  connecting, and inspiring Dr. Pete and Dr. Stephen

07:53 - An introduction to today’s subject including the value of money and how money works in launch vs. build scale. 

09:38 - A quick review of the Rule of 40, the metric to answer the question “How is it going?”

13:51 - There are three ways chiropractors get paid; salary/compensation, distributions, and the asset value of the business when you sell

14:53 - Determining what you get paid requires being organized and identifying the roles you play on your accountability chart.  This is especially important to understand when you are looking at selling your business.

20:24 - A look at acquiring your distributions quarterly as you analyze your profits for that time period. 

24:08 - Building your value in each season of your career, from launch to exit.

27:11 - Building an asset value as part of your remarkable exit strategy. 

30:59 - Dr. Stephen sits down with Success Partner, Dr. Joe Esposito from Aceva.  Aceva is an international brand and leader in the natural healthcare arena.  Join the conversation as they discuss how Dr. Joe started in the supplemental industry, Dr. Stephen’s personal experience with these nutraceuticals, and bringing into alignment how nutrition fits into the principle of chiropractic care. 

Resources Mentioned

To register for the Conversion Retention Immersion, please visit our site here: https://theremarkablepractice.com/upcoming-events/

For more information about Aceva please visit:  https://www.aceva.com

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

Ask any CEO: “How’s it going?” and you’ll typically get an answer like: “Great!” But what does that mean? 

This question ultimately boils down to the company’s financial position – whether or not you are growing revenue and making a profit. But does this really tell the whole story? 

While there are layers of complexity when determining the financial health of your business, we like to use The Rule of 40 as our “measurement” of the health of a chiropractic business. The Rule of 40 gets to the heart of the question… ”How’s it going?” 

Finally, Chiropractic CEO’s will have a Remarkable Standard to tell the whole story. 

Listen in and find out how it’s really going… 

 

Episode Highlights

02:42 - One of the qualities of remarkable businesses is that it is data-driven.

06:09 - An introduction to the Rule of 40, a way to audit and assess the health of the business

09:56 - The Rule of 40 will help you make informed financial decisions that fuel and drive the decisions that you're able to make as a business owner

14:32 - Your profit margin may not actually be what you think it is. Discover some key components you need to consider. 

23:12 - Why the rule of 40 is a healthy way to measure your business

26:59 - Having multiple years of data allows you to look at the overall health. There are going to be runway years as you invest and others where you reap the rewards.

32:32 - Stay tuned for Dr. Pete’s interview with Success Partner, Dr. Nick Silveri of LVRG Media. Learn more about how LVRG Media helps chiropractors get their message out into their community, expand the four walls of their practice outside of the office and into the community, and generate qualified new leads utilizing done-for-you content marketing. With a background in and a sole focus on chiropractors, they have a proven track record in the chiropractic field. 

Resources Mentioned

To register for the Conversion Retention Immersion, please visit our site here: https://theremarkablepractice.com/upcoming-events/

For more information about Leverage Media please visit: www.lvrgmedia.com

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 purpose of a business is to solve a problem - for a profit. 

The bigger the problem - the bigger the profit.  The bigger the problem - the greater the value…And money follows value. The ultimate value of your business is determined by the quality of the revenue - and the highest quality revenue is Recurring Revenue. 

Most importantly, show me the way the money works in a business, and I will show you the culture of that business.  We want to have a culture of RETENTION.  Let’s keep Ideal Patients.  Recurring Revenue drives greater retention. Everybody wins. 

Let’s dig into an important discussion on what we at TRP call The 5th Domain: The Money. 

Episode Highlights

03:29 - Money follows value.  Focus on delivering value and you will have an abundance of money.

5:31 - Your financial plans must be purpose-driven possible and profitable

8:00 - Creating value is about having your patients understand how their body works and heals, as well as both their role and your role in the experience

10:28 - Three components of a quick audit of your business.  What questions should you ask yourself?

15:55 - The quality of revenue can be different between the multiple different types of practices

18:29 - The four agreements are a conversion formula and a reconversion formula

22:25 - Understand the difference between empathy (connection) and leadership (empowerment) when it comes to healthcare

27:35 - A brief overview of structuring your financial plan.

33:05 - The outcome of the recurring revenue model should have two things - peace of mind and abundance

35:11 - A calculation exercise on possibility vs. probability. Are you capturing all the value that you are delivering?

39:56 - Stay tuned for Dr. Stephen’s conversation with Jonathan McAlees of Fortis. Discover what his drive was to create this platform, the overall functionality of their system as it is integrated with most Chiro EHRs, and its simplicity of use to save both time and manpower. 

Resources Mentioned

For more information about Fortis please visit: www.fortispay.com

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

Are you doing Payment Plans in your practice? Most DC’s are…Let’s make sure that you do them right.

As with everything - there are right ways - and there are wrong ways to do this. Listen in on a conversation with Dr. Ray Foxworth from Chiro Health USA as he details the ins and outs of doing Financial Plans correctly (and legally) in your practice.

Episode Highlights

02:06 - Discover the experiences that led to the formation of CHUSA

07:44 - Insurance regulation and being compliant are critical parts of the business to reduce exposure

11:52 - Understanding how discounts come into play that are defensible

14:16 - An example of how to implement a discount properly and give an explanation to the client

17:59 - Don’t devalue your services based on what you think your patient can pay. Your fees should be straight across the board and not based on the payer source.

24:45 - A look at the dos and don'ts of recurring payment models, solely cash practices, and monthly payment plans.

31:59 - Dr. Pete interviews TRP Success Partner, Dr. Brian Capra from Genesis Chiropractic Software systems.  Learn how Genesis leverages artificial intelligence to optimize the revenue of your practice and patient retention. Utilizing technology and systems can help you buy back your time and energy and help you focus on the areas that really matter to you

Resources Mentioned

Learn more about CHUSA

Discover how Genesis Chiropractic Software Systems can help your practice

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

Are your patients in your clinic assigned to the doctors or are they patients of the clinic itself?

In this second part of the Practice Model Series, you are invited to take a closer look at the two main models that are in use in today’s clinics.  Discover the advantages and disadvantages of each so that you can determine which one is right for your practice.   

Episode Highlights

02:32 – There is no wrong way to run your practice when it comes to your practice model of client care.

05:09 – Discover Dr. Stephen’s first foray into building a practice and the lessons he learned.

09:48 – Building your practice begins with developing your mastery of client care, attraction, team building, etc.   This does not happen immediately.

11:54 – Uncover the analogy of the Solid and Broken Line as is relates to client care

13:45 – Discover the advantages and disadvantages of the solid white line approach

17:05 – The pros and cons of the broken white line practice model

19:44 – The move from solid white line to broken white line is an intentional cultural transition

22:51- A look at the practice of assigning a primary chiropractor even though the patient may be seen by other’s on the team

25:36 – Dr. Pete interviews a TRP Success Partner, Dr. Tabor Smith of Spinal Hygiene to discuss how they can help you as a CEO and how they are transforming lives. 

Resources Mentioned

For more information about Spinal Hygiene

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

On the heels of a recent Immersion event, Dr. Pete and Dr. Stephen were inspired to bring you the topic of the next two episodes, the Practice Model. Listen in on the conversation as they debate about the two main models that you can establish as the framework of your practice, Experts or Specialists. Learn the pros and cons of each and the model preferences that these two leaders have. 

Episode Highlights

00:42 – A discourse of where the inspiration for this 2-part series came from.

03:06 – Dr. Stephen introduces the topic of the series and what delves into the differences between Experts and Specialists.

06:08 – Dr. Pete discusses how your organizational chart builds into these different models and shares about his experience of moving his “football” team into a “ski” team

10:49 – Dr. Stephen explores the pros and cons of the two different models

15:18 – Dr. Pete moves the discussion into cross-training and having primary, secondary, and tertiary roles in the practice.

18:55 – Dr. Stephen takes the concept of this cross-training and applies it to a practical example for you. 

22:03 – Dr. Pete explores the potential for developing coaches and trainers within your practice.

24:53 – Dr. Stephen discusses the resistance that some CEOs may have and highlights the impact that it can have on your practice. 

Resources Mentioned

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

CEOs, the right talent is now sitting in front of you. You are ready to hire them and the first question that arises is “How much should you pay?”, but that is the wrong question.

This last part of the series surrounding the Associate Doctor Relationship explores three areas as you find the right associate; job description, terms, and compensation.  Join Dr. Stephen and Dr. Pete as they discuss setting up the right contracts and comp plans so that they are compelling the right person to join your practice and setting everybody up for the WIN-WIN-WIN. 

Episode Highlights

03:37 - Dr. Stephen discusses the question of salary and instead of focusing on the number, you should focus on the model.

05:17 - A look at the two main different functions that CEOs are hiring and understanding how both are going to add value and build your business.

09:54 - Dr. Pete discusses the importance of long-term successful relationships beginning with clear expectations and honest agreements.

13:46 - As a CEO, developing the job description begins with understanding your vision and what you want the Associate to do alongside you or instead of you. As an Associate, you can then determine if those expectations are going to allow you to operate in your zone of genius.

24:59 - Dr. Stephen dives into the differences between a non-compete and a non-solicitation clause and explores financial agreements in the event the Associate opens their own practice. 

27:55 - Dr. Pete and Dr. Stephen move the conversation into compensation and determining how an Associate should be paid. Discover compensation expectations between a “Caregiver” Associate and a “Business Builder” Associate. 

Resources Mentioned

For more information about the Remarkable Associate Program

For more information about Chiro Match Makers

Connect with David Foster at Back Office Consults

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

“A successful Associate Doctor relationship is wicked hard to do. And the criterion is that it must be a win, win, win, or it’ a No Deal.

Dr. Pete and Dr. Stephen continue the conversation about the Associate Doctor relationship in part three of this four-part series. In this episode, they delve into the key components of the relationship process: the resume and the interview.  Learn what your expectations are in this part of the process as either CEO or Associate. 

Episode Highlights

01:54 – Dr. Pete and Stephen introduce the next step of the Associate Doctor relationship and why this is important information for both the CEO and the Associate alike. 

05:44 – Dr. Stephen elaborates on the “win, win, win” concept and why there is no other combination to accept. 

08:24 – Dr. Pete expands into the misconception of not having much value placed into the resume itself but instead relying on the interview as a sole indicator of performance.

10:38 – Dr. Stephen explores the importance of both the CEO and the Associate in knowing what they are looking for in core values and positional/role expectations

14:15 – Dr. Stephen and Dr. Pete discuss how to approach the resume as both CEO and Associate. Are you a caregiver or a business builder and how do you detail that on your resume?

21:36 – Dr. Pete dives introduced the second topic, the interview, and its significance on how you approach it as CEO or Associate.

23:39 – Dr. Stephen discusses resources for resume writing and interview prep, including Chiro-matchmakers.

26:12 – A look into the relevance of fully researching the company before the interview, the significance of practicing your answers to common interview questions, and the importance of knowing the job description.

28:59 – Dr. Stephen explores interviewing with the STAR method – Situation, Task, Action, Result. Be prepared to answer with examples of your work.

31:42 – Dr. Pete explores the non-verbal components of the interview.

33:18 – Dr. Stephen discusses the questions that the Associate interviewee should not be afraid to ask in order to gain clarity of expectations and fit in the role. 

Resources Mentioned

For more information about the Remarkable Associate Program

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