Episode 187 - Remarkable Money Metrics (Part 1)

Recap

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.