The Remarkable CEO for Chiropractors 188 - Remarkable Money Metrics (Part 2)
In this episode you'll discover:
- CEO’s need Remarkable Standards to optimize the business and maximize profits
- You need accurate and current financial reporting to make data-driven decisions
- The 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 over
- High emotion = low logic; high logic = low emotions (stress)
Episode Highlights
04:37 - 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 Mentioned
To download your copy of the Profit & Loss Metrics PDF, please visit: https://theremarkablepractice.com/podcast-ep188-profitloss
To 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-ceo
Schedule a Brainstorming call with Dr. Pete
Dr. 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.