Episode 242 - Your Practice vs. Your Business

Recap

In this episode, you’ll discover:

The 4 Engines of Your Business
DCs do not lay awake worrying about their PRACTICE – they worry about their BUSINESS
Turn your pirate ship into a battleship.
Team is your business, and your business is your team.
Why it’s possible to have a great practice but not a great business.
To 10X your practice, you must 10X your skillset in business
RPE is the HRV of your business.

Episode Highlights

02:50 – The importance of understanding the connection between the practice and the business side of chiropractic care.

06:06 – Utilizing the accountability grid as a framework for managing both practice and business domains.

08:54 – Transitioning from a practice-focused mindset to a business-focused mindset in order to achieve success.

11:22 – Distinguishing between building the practice and building the business when hiring an associate or COO.

14:40 – How the industry has been undercapitalized due to a focus on practice busyness rather than business success.

17:24 – Many successful practices are built on passion and brute force, but lack fundamental business processes.

21:51 – Small business with a great product and purpose can fail due to lack of business acumen.

23:42 – The importance of understanding both practice and business metrics to optimize a chiropractic practice.

28:43 – Dr. Pete sits down with Jeff Van Kampen, the CEO and co-founder of Clinic Growth Accelerator. He discusses the challenges in the marketing industry related to data attribution and emphasizes the importance of using accurate and hard-coded data for decision-making. Their discussion delves into how they provide accountability and visibility to their clients, the ROI of digital marketing, and the future trends in the industry. This interview is filled with valuable insights and practical advice on building authority and trust.