The Performance Doctor: Make Business Easy

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Over the last few weeks, I’ve shared about our upcoming FCW Founders Camp in January. We haven’t gotten to 25 participants, but I am closing the registry at the end of today (12/2).

Through one of the dozen emails, I had a seasoned doc reach out. (Doc, I know you’ll be reading this and I appreciate your approval to share this - you will still be an anonymous doc)

I say seasoned because he’s been in business twice as long as I have.

He couldn’t wait for January to come around and then spend 7 weeks working through his business.

I get it. We are all in different seasons in our business.

I agreed to a 45 minute zoom call on 12/1.

I began typing this 20 minutes after we got off our call.

I’m not going to get into the ins and outs of the call, it would be a MASSIVE email.

No. I’m cutting to the meat and potatoes.

These are the top three items he will be focusing on in the next 30 days.

1. Raise Rates. He’s been “trying” to stay competitive within his area. Charging $50 (just like everyone else) for his 30 minute office visits. He’s only ever done a price increase once in the last ten years. This week he is soft-launching his price increase.

2. Control The Encounters. He’s gone from creating treatment plans, to selling individual visits, to programs, etc. In his own words “I’ve tried it all, and patients don’t stick to it.” That comes down to messaging. I asked him to take me through one of his patient conversations. While I am all about making decisions with the patient, we all have to remember that we are the PROFESSIONALS, and they are UNDER OUR CARE. Anything goes wrong, and it is OUR fault; not theirs. We must control the encounters, the follow ups, the programs, etc. Our tone (while not sales-ly) must convey authority and leadership.

3. Establish one message. This is something I believe we all have to work through at some point. Shiny object syndrome is real, and in our profession, it’s even more so when it comes to getting people in the door. General messaging speaks to general people. To attract your right person, you need to establish the correct message from there.

When we dove deeper into his business, there was one thing that quickly was established. He didn’t know any of his numbers.

He didn’t know the exact (nor ball-park) amount of recurring revenue he was bringing from the memberships he still had. Nor the amount of lapsed cards on file. Or the amount of patients he was seeing per week. He just knew he worked nearly 60 hours a week.

Dover deeper, there was no data to track where his new patients were coming from. He didn’t even know how much money he was spending in ads between facebook, instagram and google. After looking through and doing the math… around $12K/mo. (Something isn’t right here)

This is an unfounded business. Glued together by luck and determination, not data and hard facts to drive decisions.

This is where he is spending the next two weeks:

1. Stop the bleed. Cancelling software services that are used less than 25% of the time in the business. Cancel all ad spend for the next 45 days. Cancel any subscriptions he isn’t aware of or that he is no longer using.

2. Gather intel. Going back over the last six months, he’ll gather the data on, new patients, follow ups, average patient lifetime value, ad spend (where they came from) and MRR.

You may think this list is not long. But it is, and it takes time and effort to put it back together after years of not keeping track of these little things. I know. I started this way.

It’s not fun going back and analyzing all the missed opportunities, lost revenue and even worst, unfounded expenses. All that time and money you could’ve invested or saved for today…

I’ve been there. In my world there is no could’ve. There is knowing and not knowing.

That’s the reason for the FCW Founders Camp - to nail the foundations and pave the road to a healthy and flourishing business.

Doc, as I mentioned in our call. There’s nothing that can’t be fixed.

For the rest, get your foundations in order and you’ll make better decisions in the long run.

In health and strength,

P.S. The FCW Founders Camp closes tonight (12/2) last chance to get on the list