The Remarkable CEO for Chiropractors 270 - Dr. Franson Talks Business, Investing and Money with Mark Murphy
Listen in on a hardcore business conversation w Dr. Stephen Franson and business savant and author, Mark Murphy:
- The business of running a business
- Adding value as your Modus Operandi
- When to hold and when to sell your business
- And countless other business truths and insights!
Episode Highlights
00:58 - Introduction of Mark Murphy, author of "The Ultimate Investment," and how they met through the Ultimate Achievers Club (UAC).
02:46 - The importance of measuring business growth by the impact on patients rather than just revenue or patient numbers.
03:40 - The concept of separating the practice from the business, noting that chiropractors often use these terms interchangeably.
05:37 - The three ways to create wealth: investing in a business or operating company, investing in real estate, and financing deals.
09:50 - The importance of having cash confidence and the ability to make long-term plays during tough times.
12:38 - Investing in oneself and one's business to achieve a robust return on investment.
14:53 - Having a team of experts to support the business, including accountants, lawyers, and financial advisors.
16:12 - Leveraging the strengths of a team to free up time and energy for the business owner.
20:17 - The importance of having a high-trust relationship with team members and the ability to provide honest feedback.
27:37 - The need for emotional preparedness to sell a business and the importance of having something to do after retirement that is fulfilling.
36:07 - Recognizing failure as part of the journey to success and learning from mistakes.
40:04 - Seeing people at their highest potential and lifting them up to believe in themselves.
42:33 - The ability to turn problems into opportunities and the importance of being able to handle adversity with grace.
43:36 - The importance of being consistent and grounded as a leader, especially during challenging times.
47:12 - Dr. Chris sits down with Success Partner, Dr. Jeff Langmaid of Spark, to dive into an often-missed goldmine: inactive patients who already know, like, and trust their chiropractor. Dr. Jeff introduces "Spark," a game-changing initiative that blends cutting-edge technology with smart, targeted messaging to seamlessly automate patient reactivations. Unlike traditional marketing, Spark’s pay-per-performance model ensures chiropractors only invest when patients actually return, providing an ethical, results-driven approach to reigniting old connections and sparking new growth from within their existing patient base.
Resources Mentioned
Register now for the Remarkable Attraction Immersion here: https://theremarkablepractice.com/attraction-immersion/
To learn more about the REM CEO Program, please visit: http://www.theremarkablepractice.com/rem-ceo
For more information about Spark please visit:https://sparkpatients.com/
Subscribe to our newest podcast "Build Your Remarkable Practice" here: https://podcasts.apple.com/us/podcast/build-your-remarkable-practice-for-chiropractors/id1734107477
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Dr. Stephen’s Book – The Remarkable Practice: The Definitive Guide to Build a Thriving Chiropractic Business