The Remarkable CEO for Chiropractors

In this episode you'll discover:CEO’s need Remarkable Standards to optimize the business and maximize profitsYou need accurate and current financial reporting to make data-driven decisionsThe 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 overHigh emotion = low logic; high logic = low emotions (stress)  Episode Highlights04:37 - 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 MentionedTo download your copy of the Profit & Loss Metrics PDF, please visit: https://theremarkablepractice.com/podcast-ep188-profitlossTo 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-ceoSchedule a Brainstorming call with Dr. PeteDr. Stephen’s LinkedInDr. Peter’s LinkedInThe Remarkable CEO WebsiteDr. 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 DummiesBalance Sheets vs. P and L vs. CEO’s Strategic ReportingIf you do not measure it - you cannot master it! The Remarkable Money Program teaser  Episode Highlights05:01 - 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 MentionedTo 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-ceoSchedule a Brainstorming call with Dr. PeteDr. Stephen’s LinkedInDr. Peter’s LinkedInThe Remarkable CEO WebsiteDr. 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/

In this episode you'll discover:Digital marketing has changed dramatically… Trust has plummeted and so has conversionYou must continue your digital marketing – but there is a specific way to do itToday marketers need to be looking for pockets of trust (Aligned Tribes)It is critical that you leverage the “merging of ecosystems” to attract new patients and build your business Episode Highlights02:27 - Every time you have an interview, you have an expert who is going to tell you everything that they know.06:14  -  Conversions happen at the speed of trust.13:15 - The marketplace has lost track of trust to become apathetic and the cost of reaching the marketplace has gone up.17:48 - Focus on creating great content that is representative of your practice, business, passion, purpose, and mission.21:23 - When you have established tribes of people (customers, teams, colleagues) you can merge ecosystems for mutual benefit.26:27 - Organize your current relationships and find those new relationships that will benefit your tribe. Resources MentionedTo learn more about the Team Building Immersion visit: https://theremarkablepractice.com/upcoming-events/To learn more about the REM CEO Program, please visit:  www.theremarkablepractice.com/rem-ceoSchedule a Brainstorming call with Dr. PeteDr. Stephen’s LinkedInDr. Peter’s LinkedInThe Remarkable CEO WebsiteDr. Stephen’s Book – The Remarkable Practice: The Definitive Guide to Build a Thriving Chiropractic Business

Stage 1 - Strategy: What Does Your Ideal Exit Look Like?Stage 2 - Readiness: How to Get Your Practice Exit Ready  Stage 3 - Go To Market: Finding The Ideal Buyer and Successor  Stage 4 - Transaction: How To Make a Graceful and Profitable Exit Whether you are 3 years or 30 years away from selling your practice - this episode is for you.  You will want to maximize your sale price and minimize your tax burden.  You will want to make sure that your Team, your patients and your business is READY for your exit. You will want to see your legacy live on.  You know the saying: When is the best time to plant an oak tree?  50 years ago…When is the second best time?  Today!   Episode Highlights04:22 - You need to go through the 4 stages of the remarkable exit in a strategic fashion in order to position yourself well. 08:22 - Get the support you need to exit with a deep and rich team of experts including coaches, and legal experts. 12:35 - What does the ideal exit look like to you and do you have a strategy or plan to achieve that?16:18 - It's critically important that you go into the exit strategy exploring all opportunities, so that you can craft the plan that is going to lead us to the best outcomes based on what you are trying to accomplish.18:48 - Get crystal clear on your why.28:15 - Dr. Pete’s transition started with his heart, and then mentally wrapping his head around it.34:20 - Discover the two ways to arrive at a valuation of your business. Resources MentionedTo learn more about the Team Building Immersion visit: https://theremarkablepractice.com/upcoming-events/To learn more about the REM CEO Program, please visit:  www.theremarkablepractice.com/rem-ceoSchedule a Brainstorming call with Dr. PeteDr. Stephen’s LinkedInDr. Peter’s LinkedInThe Remarkable CEO WebsiteDr. Stephen’s Book – The Remarkable Practice: The Definitive Guide to Build a Thriving Chiropractic Business

In this episode you will discover: Why it’s vital to embrace the ascension of your perspective and your identity The 3 roles you function in every day and how to make it work best The value of thinking like an investor and functioning as the CEO How to take a 3 year view to generate a 3-5X ROI Episode Highlights04:26 - The key to being successful in all three levels; working in your business, on your business and above your business, is knowing that you're going to be functioning in all of those identities at any given week and the ability to transition from one to another.11:53 - Each of those identities has a different perspective, expectations, and agreements that are made around each of those roles.14:42 - If you own a business, you are an investor. You're the primary investor in that business and you have to think like an investor for limited resources, time, energy, focus, and money.16:42 - In order to make your ascension you need to not be the bottleneck but build and empower your team21:00 - What do the doctors that truly make the ascension have in common?Resources MentionedTo learn more about the Team Building Immersion visit: https://theremarkablepractice.com/upcoming-events/Schedule a Brainstorming call with Dr. PeteDr. Stephen’s LinkedInDr. Peter’s LinkedInThe Remarkable CEO WebsiteDr. Stephen’s Book – The Remarkable Practice: The Definitive Guide to Build a Thriving Chiropractic Business

In this episode you will discover: If your business is ready for the Office Manager in your practice The cognitive, affective, and conative profile for the manager role  How to pay for each role on the manager ascension pathway The attributes, experience and responsibility required for the different roles  Episode Highlights03:15 - People can be cornerstones for your business where you can just build your business around them.06:01 - When hiring you want to ensure the Four Rights: getting the right person in the right role, doing the right work in the right way.07:35 - The office manager track looks at four distinct roles in the ascension plan. 11:50 - A look at the distinctions between the roles of a Check In and Check Out CA and how they play into the ascension track. 18:10 - You, as the leader of the organization, need to be very observant and be attentive to the behaviors of our team members to determine if they are ready for ascension.23:19 - You also need to know where people are in their career goals and they may not want to ascend to new positions, no matter how competent they are. 27:26 -Having an ascension model means you are able to see the landscape of where the practice is going and as your team knows that there's an ascension for each role in your business.31:45 - When you're ready to make the ascension from an owner operator to the CEO, one of the prerequisites for you is to recognize that the CEO has to have its counterpart; one of you leads the business, the other one runs the business. Resources MentionedTo download your copy of the Office Manager Ascension Infographic from this episode, please visit us at: https://theremarkablepractice.com/podcast-ep183-ascensionTo learn more about the Team Building Immersion visit: https://theremarkablepractice.com/upcoming-events/To learn more about the REM CEO Program, please visit:  www.theremarkablepractice.com/rem-ceoSchedule a Brainstorming call with Dr. PeteDr. Stephen’s LinkedInDr. Peter’s LinkedInThe Remarkable CEO WebsiteDr. Stephen’s Book – The Remarkable Practice: The Definitive Guide to Build a Thriving Chiropractic Business

In this episode, you'll learn about:- Your annual theme should energize your team, create focus and prevent distraction- There is one essential ingredient when it comes to fulfilling your Vision, Mission, Premise, Purpose, and Product- Calculating the investment required to be fully committed - Being fully committed to achieving your 2023 Goals  Episode Highlights03:29 - When you are fully committed it always leads to the greatest results, always creates the greatest change and it's always the most fulfilling.08:19 - There will be no dabblers out there that are successful. Success will be reserved for the people that are fully committed.12:43 - If you find yourself growing fatigued, check your vision because anytime you lose sight, you lose perspective, you lose your vision.16:39 - From your vision comes your goals, and you need to commit them to all aspects of your business including your time, energy, focus, and money. 20:52 - If you are not fully assessing your business and its goals then you are trying to move forward without having full insight. 23:15 - Look across the entire landscape of your business and determine where you have just been dabbling. Resources MentionedTo learn more about the Team Building Immersion visit: https://theremarkablepractice.com/upcoming-events/Schedule a Brainstorming call with Dr. PeteDr. Stephen’s LinkedInDr. Peter’s LinkedInThe Remarkable CEO WebsiteDr. Stephen’s Book – The Remarkable Practice: The Definitive Guide to Build a Thriving Chiropractic Business

In this episode, you'll learn about: - Dr Pete sees his 10-year vision become reality in 2022- After 18 years, Dr Stephen see his biggest investment take off- How progress and growth happen on the other side of greater visibility- The significance of building the right team Episode Highlights03:00 - Dr. Pete’s win to intentionally live life.08:52 - Dr. Stephen discusses seeing the manifestation of raising “inside-out” kids14:20 - Looking back, the businesses that had their whole team participate in the immersions saw significant success than those who did not.17:59 - Making a business model shift to include the live events in the coaching program significantly saw higher outcomes with the clients.21:21 - Be committed to visibility because the level of visibility is directly proportional to the level of success in that part of the business.  Resources MentionedTo learn more about the Team Building Immersion visit: https://theremarkablepractice.com/upcoming-events/Schedule a Brainstorming call with Dr. PeteDr. Stephen’s LinkedInDr. Peter’s LinkedInThe Remarkable CEO WebsiteDr. Stephen’s Book – The Remarkable Practice: The Definitive Guide to Build a Thriving Chiropractic Business

In this episode, you'll learn about:- If your team can’t see it - they can’t help you build it- Clarity: Identify the top 4 constraints in your business right now- Determine the next Iteration of Your Accountability Chart - Align your 2023 vision with your goals and your Strategic Plan - Recruit your team with your vision story so that your team understands their role in achieving the vision - How to make “Goal-Getting” almost automatic in 2023 Episode Highlights04:47 - You have to actually start with your ultimate vision because you have to have a far enough view of where we're going.08:56 - Getting clarity of vision helps you to recruit your team into helping you manifest that vision.13:40 - If you're not connected, and you don't have accountability, and you're not really investing in that, that needs to change this year.17:33 - The accountability grid is where you expose your business, where you are winning and where you are learning.22:35 - Use affirmative language to speak life into the work that's gonna get done.  It is not a “constraint” but an “opportunity” for growth. 24:47 - Once you've done the assessment now you start planning and looking ahead to work on the business which is the plan, prepare, and execute.28:02 - 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 MentionedTo download your copy of the resources from this episode, please visit us at: https://theremarkablepractice.com/podcast-ep180-visionTo 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/Schedule a Brainstorming call with Dr. PeteDr. Stephen’s LinkedInDr. Peter’s LinkedInThe Remarkable CEO WebsiteDr. Stephen’s Book – The Remarkable Practice: The Definitive Guide to Build a Thriving Chiropractic Business

In this episode, you'll learn about:- How to set your business up for GROWTH in 2023 - How to successfully conduct an annual review - Leveraging the Accountability Grid to audit your business - Harness the APPEAR process to create your better future - The 3 parts of Vision Casting  Episode Highlights02:52 - The work of the CEO is to take action and work on the business instead of in the business.07:07 - You have to put in time to assess the previous year before you can successfully meet the goals of the next.  You are looking back to go forward.13:42 - Data driven vision casting is the act of quantifying your goals and milestones to see if you are on or off track. 18:33 - An overview of how to effectively use the accountability grid and how to assess it based on the previous year’s grid. 26:23 - Get clarity in your own mind what success looks like for the next iteration of your business by learning from assessing the last iteration of your business and the journey that you just came through.31:00 - Dr. Pete is joined by Success Partner, Dr. David Fletcher of CLA. CLA is about making the invisible world visible and they do this by using neurological scan results to deliver objective findings.  Listen as they discuss how healthcare perceptions have changed, how people are realizing how important it is to manage the underlying health of their inner system, and how chiropractors are getting back into their roots with neuropathic technology.  Resources MentionedTo download your copy of the resources from this episode, please visit us at: https://theremarkablepractice.com/podcast-ep179-visionTo learn more about the Team Building Immersion visit: https://theremarkablepractice.com/upcoming-events/Schedule a Brainstorming call with Dr. PeteDr. Stephen’s LinkedInDr. Peter’s LinkedInThe Remarkable CEO WebsiteDr. Stephen’s Book – The Remarkable Practice: The Definitive Guide to Build a Thriving Chiropractic Business