The Remarkable CEO for Chiropractors

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 Highlights00:58 - 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 MentionedRegister 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-ceoFor 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  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 discover:The 3 drivers that impact profit - and the one that stands above the rest Which has the biggest impact on profit: Increase Price by 1%?Decrease Cost / Expense by 1%?Increase Volume by 1%?The language of business is accounting, and you need to understand it.  Are you on track? Time to get your money metrics in order Episode Highlights02:20 - The significance of small actions, such as one encouraging word or going the extra mile, and how they can make a big difference.04:58 - The concept of the "1% rule" and its relevance to making a bigger impact and income in their coaching business.06:26 - The significance of profit margin and distributable cash in measuring the health of a business.07:25 - The 1% Rule: Increasing Price, Decreasing Costs, and Increasing Volume15:02 - A real-life example to illustrate how increasing price by 1% can significantly impact profit margin.19:46 - The importance of having the right mindset and tools, such as the "Remarkable Money Metrics" PDF, to guide business decisions.21:21 - Understanding business metrics and accounting to manage a business effectively.22:28 - Testing market responses to price changes and recognizing the potential impact on other metrics like referrals and retention.22:43 - The need for chiropractors to balance different metrics and recognize the competing numbers in their business.27:45 - Join REM Coach, Dr, Chris as he sits down with Success Partner, Justin Maxwell from Big Life Financial. Justin shares his inspiring journey from grappling with financial ceilings to mastering wealth management, and how he now dedicates his expertise to helping chiropractic office owners achieve financial clarity and growth. Dive deep into Big Life Financial’s unique family office approach, tailored specifically for high-impact businesses, and unveil the systems, strategies, and professional support that can drive significant returns on investment. If you're a chiropractic CEO looking to maximize your business’s financial potential, this interview will provide invaluable insights on elevating your financial strategy and making a lasting impact. Resources MentionedDownload your copy of the REM Money Metrics here: https://theremarkablepractice.com/podcast-ep269-rem-moneyRegister 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-ceoFor more information about Big Life Financial please visit: https://www.biglifefinancial.com/Subscribe to our newest podcast "Build Your Remarkable Practice" here: https://podcasts.apple.com/us/podcast/build-your-remarkable-practice-for-chiropractors/id1734107477  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

Get some free legal insight (NOT advice*) from Dr. Stephen’s very own business attorney, John Colucci.  Dr. Stephen and John walk through the 5 Stages of the Remarkable Exit Process with an eye on the legal elements of each.  Building your Chiropractic Practice with an eye on an eventual sale is very smart… A business “built to sell” will be more productive, more profitable, more fulfilling - and more fun to operate.Get John’s insights around the following stages:Vision: Your Ideal Exit StrategyReadiness: What you need to do to get your practice / business ready for saleGo to Market: Start your legal check-list nowTransaction: the paperwork, documents, contracts and checksTransition: what’s the next chapter for you?Episode Highlights01:09 - An outline of the five phases of the remarkable exit process: vision, readiness, go-to-market strategy, transaction, and transition.04:10 - Advice on the vision and readiness phases, emphasizing the importance of starting with the end in mind.06:03 - The importance of documenting all processes and procedures from the beginning to make the practice more attractive to buyers.09:32 - The go-to-market and readiness phases, focusing on making the business more attractive to buyers.10:30 - The importance of accurate financial reporting and having a financial team in place.17:45 - Legal Considerations for the transition phase.20:27 - Having key team members in place and ensuring their contracts are secure.21:45 - The typical process of a transaction, starting with a letter of intent or memorandum of understanding.23:07 - The timeline for due diligence, document drafting, and negotiation, leading to the closing.29:57 - The differences between an asset sale and a stock sale, including tax implications.33:23 - The pros and cons of seller financing and the importance of securing the promissory note.36:23 - The importance of having a post-sale plan to maintain personal identity.41:23 - State tax planning strategies, such as gifting interests to an irrevocable trust to avoid estate taxes.45:59 - Being open-minded about the value of their business and listening to prospective buyers and brokers.48:39 - Final advice on the importance of being prepared and having a clear plan for the transition. Resources MentionedRegister 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-ceoSubscribe to our newest podcast "Build Your Remarkable Practice" here: https://podcasts.apple.com/us/podcast/build-your-remarkable-practice-for-chiropractors/id1734107477  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 discover:Be as intentional with sharing your struggles and challenges as you are with your winsFailure is a part of success, get good at sharing your Wins AND LearnsLeaders are courageous and transparent about “failures” Get beyond your need to be “perfect” as a leader Action Increases as transparency and trust go up Episode Highlights00:52 -  The importance of hiring motivated people and inspiring them to achieve their best.02:58 - The significance of assessment and being brutally honest are crucial for leaders.05:04 - The impact of unrealistic expectations and the need for support in navigating challenges.07:52 - Embracing the struggles as part of success.11:26 - Sharing personal struggles for its impact on growth and development.13:33 -The importance of humility in leadership.16:12 - The impact of building trust in your relationships and what it takes to maintain that. 21:55 - Dr. Pete sits down with Mark Lewis, Director of Sales and Marketing for Platinum Systems. Mark shares his remarkable journey from being a PGA golf professional to becoming a pivotal figure in chiropractic software solutions, emphasizing the importance of effective systems and procedures in scaling chiropractic practices. Highlighting the evolution of Platinum Systems, Mark reveals exciting advancements with Platinum 2.0, aimed at providing holistic web-based solutions to enhance efficiency and patient care. If you are looking to increase your practice efficiency, while freeing up your staff’s time, then you will want to listen to what Platinum Systems has to offer. Resources MentionedRegister 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-ceoFor more information about Platinum Systems please visit: https://www.platinumsystem.com/Subscribe to our newest podcast "Build Your Remarkable Practice" here: https://podcasts.apple.com/us/podcast/build-your-remarkable-practice-for-chiropractors/id1734107477  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

Rick Sapio is a brilliant, battle-hardened business mind with a soft-side.  Rick’s experience inside and outside of the Chiropractic Industry - specifically around EXITING and building businesses to sell them -  lends him a sharp insight into how to best build your chiropractic practice with EXITING in mind.  Listen in on the first of several conversations between Dr. Stephen Franson and Rick and discover: How to turn your job into a businessThe importance of Core Values and Values-Based Decision MakingThe critical nature of separating the Founder from the Brand and the BusinessHow to create permanence in your offering and processCreating Uniformity and building a World Class TeamHow to build a business that is bigger than you!Creating the business that will attract your Ideal Buyers (eventually)Episode Highlights00:41 - Optimizing business for sale with a focus on exit strategies.01:51 - Rick shares his background in helping his business and chiropractic expertise optimize exits.07:17 - The shift from a culture of resourcefulness to victimhood, with a focus on entrepreneurial parents training their children to be resourceful rather than victims.11:36 - The shift from a culture of resourcefulness to victimhood, with a focus on entrepreneurial parents training their children to be resourceful rather than victims.14:24 - The concept of the Business Frame, starting with the purpose of the business and catalyzing statements to inspire employees and potential partners.16:57 - The importance of values-based decision making for business success.24:08 - The value of commitment and permanence in achieving success.29:58 - Creating a community and having a clear purpose and values to build referability.32:39 - The importance of soft skills in business, such as purpose, values, and decision-making philosophy.35:03 - The need for business owners to prepare themselves and their businesses for exit, avoiding language barriers and tactical mistakes.39:52 - Join REM Coach, Dr, Chris as he sits down with Success Partner, Justin Maxwell from Big Life Financial. Justin shares his inspiring journey from grappling with financial ceilings to mastering wealth management, and how he now dedicates his expertise to helping chiropractic office owners achieve financial clarity and growth. Dive deep into Big Life Financial's unique family office approach, tailored specifically for high-impact businesses, and unveil the systems, strategies, and professional support that can drive significant returns on investment. If you're a chiropractic CEO looking to maximize your business’s financial potential, this interview will provide invaluable insights on elevating your financial strategy and making a lasting impact. Resources MentionedRegister 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-ceoFor more information about Big Life Financial please visit: https://www.biglifefinancial.com/Subscribe to our newest podcast "Build Your Remarkable Practice" here: https://podcasts.apple.com/us/podcast/build-your-remarkable-practice-for-chiropractors/id1734107477  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 discover:Don’t skip the most important step to accelerate mastery and scalabilityThe Demo: the one thing that will change everything  Unlock the uniqueness and power of demonstration  Alert! If you’re role playing - you’re not trainingEpisode Highlights01:01 - The importance of continuing education for chiropractors.02:59 - Requiring patients to engage in continuous education to achieve optimal health.05:41 - Valuing education in all aspects of business, from marketing to team building and collections.09:44 - The importance of demonstrating and role-playing in training doctors.12:22 - Utilizing workshops for personal growth and professional passion.15:01 - Challenging yourself to deliver the message with conviction and purpose.16:58 - Demonstrating and role-modeling for team members as a leader.19:43 - Leaders should show, not just tell, to accelerate mastery and scale their business or practice.22:36 - Join Dr. Sebastian as he speaks with Joe Hagan, founder of Wealth Colony, a company focused on wealth accumulation through blockchain and cryptocurrency. Joe shares his journey from Wall Street to embracing blockchain technologies and the importance of understanding and utilizing Web 3.0. Learn how Wealth Colony educates small business professionals, including doctors and accountants, on cryptocurrency investments and Web 3.0 tools to enhance their businesses. Discover the significance of digital ownership, cybersecurity, and advanced tools like smart contracts to improve efficiency and engagement. Resources MentionedDownload your copy of the Dirty Dozen Poster here: https://theremarkablepractice.com/podcast-ep265-dirtydozenTo learn more about the REM CEO Program, please visit:  http://www.theremarkablepractice.com/rem-ceoBuild your dream team with Chiro Match Makers. Learn more at https://chiromatchmakers.com/For more information about Wealth Colony please visit: www.wealthcolony.comSubscribe to our newest podcast "Build Your Remarkable Practice" here: https://podcasts.apple.com/us/podcast/build-your-remarkable-practice-for-chiropractors/id1734107477  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 discover:Defining your chiropractic USP for humanity (Unique Success Proposition) We have a SIMPLE and ELEGANT solution - don’t confuse people You have a COMPELLING story - Are you telling it? Applying the principle of the “Hard-Easy” in practice It’s never about price - it’s always about VALUEEpisode Highlights00:57 - Gratitude for the in-person training and the power of the product they deliver.06:33 - Combining conversion and retention for better results.08:32 - The importance of understanding the core principles of chiropractic and their unique value proposition.10:48 - Reinvigorating the chiropractic process through a renewed understanding of the product's power.13:05 -  The importance of an immersive environment for chiropractors to level up and improve their skills.17:41 - The transformative concepts and takeaways from a recent event, including the importance of engaging people's hearts before their heads.19:31 - Removing interference to the flow of nerve impulses, likening it to CPR and the Heimlich maneuver.22:13 - The importance of addressing patients' belief systems for successful chiropractic care.25:06 - Addressing patients' belief systems before introducing chiropractic care.27:54 - Dr. Bobby chats with Dr. Andrew Powell from Success Partner, Better Balance Orthotics about a unique product that enhances patient outcomes through proprioception rather than traditional arch support. These orthotics stimulate foot muscles, improving posture, balance, and gait. Initially designed for scoliosis, they've been found to benefit people of all ages. Dr. Powell discusses how implementing these orthotics can boost patient results and significantly increase a practice's revenue. Discover the effectiveness of the product and its potential to boost profitability. Resources MentionedTo learn more about the REM CEO Program, please visit:  http://www.theremarkablepractice.com/rem-ceoBuild your dream team with Chiro Match Makers. Learn more at https://chiromatchmakers.com/For more information about Better Balance Orthotics please visit: https://betterbalanceorthotics.com/Subscribe to our newest podcast "Build Your Remarkable Practice" here: https://podcasts.apple.com/us/podcast/build-your-remarkable-practice-for-chiropractors/id1734107477  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 discover:Is your practice Exit Ready?The 5 Stages of a Remarkable ExitThe Remarkable Exit RoadmapPractice Sales happen at the speed of TRUSTHow to get the most for your practice20 Value-Drivers Cheat SheetHow to make your practice IRRESISTIBLE to your Ideal BuyerEpisode Highlights00:49 - Exiting a chiropractic business with a focus on practice sales and brokerage services.04:33 - Finding the right buyer for your practice, ensuring a win-win situation for all parties involved.06:23 - Understanding your personal goals and priorities for selling your practice.09:01 - The challenges of balancing emotional considerations with transactional factors.12:06 - Limitations in scaling and transferring value in chiropractic practices make selling difficult.14:54 - The customary way to arrive at the value of a business, including sales multiple and owners' discretionary earnings.15:52 - The different types of sales and the role of private equity in the industry.17:54 - The lack of understanding of chiropractic on new investors.19:22 - The common pitfalls, such as false expectations and blind spots, and the need for diligence and homework when selling a business.21:26 - The importance of preparation and documentation for a successful practice sale.24:09 - Common traits of sellable practices, such as readiness and curbside value.26:39 - The importance of systems perspective when selling a chiropractic practice.29:15 - Dr. Adrian and Success Partner, Dr. David Fletcher converse about the benefits of using CLA technology in chiropractic practices. They emphasize its role in patient care improvement, practice efficiency, and enhancing patient-practice interactions. They underscore its use in growing practices through effective patient communication, retention, and internal referrals. Additionally, they highlight the benefits of tracking patient care progression with systematic re-exams, and the substantial patient data collected by CLA, illustrating chiropractic's profound effects on the nervous system. Resources MentionedFor more information about selling your practice visit: https://www.progressivepracticesales.comTo learn more about the REM CEO Program, please visit:  http://www.theremarkablepractice.com/rem-ceoBuild your dream team with Chiro Match Makers. Learn more at https://chiromatchmakers.com/Subscribe to our newest podcast "Build Your Remarkable Practice" here: https://podcasts.apple.com/us/podcast/build-your-remarkable-practice-for-chiropractors/id1734107477  For more information about CLA please visit: https://insightcla.com/about/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 discover:Be CLEAR NOT CLEVER when it comes to your communication Audit the communication in all your forms of marketing Why it is critical that you protect your CONFIDENCE as an entrepreneur What METRICS really matter - and WHY you need to monitor them The most valuable asset in your business right nowEpisode Highlights01:33 - Introduction to Dr. Jeff Langmaid, a multi-faceted chiropractor with a strong business mind.04:24 - The importance of persistence, diligence, and confidence-building for business growth.07:42 - Choosing between manifesting your vision or playing problem-solving "whack-a-mole."09:48 - The difficulties chiropractors face in consuming and applying research-based information to build their certainty and confidence.11:44 - Analyzing and improving communication methods to better guide patients and grow your business.14:11 - Insights on how to build bridges and connect with key leaders in the community.16:37 - Tracking data to monitor and improve business performance.20:12 - The value of having the right team with diverse skill sets and tapping into resources beyond local communities.22:58 - Monitoring metrics regularly to drive success and make informed decisions.25:52 - The value of controllable marketing assets, such as podcasts, and the opportunity for doctors to leverage these assets for growth.30:15 - Reaching inactive patients through consistent teaching and inviting.32:37 - Building a successful practice with a team of virtual assistants. 37:32 - Dr. Kale sits down with Success Partner Dr. Erik Kowalke, co-founder of SKED, a software designed to improve efficiency in chiropractic practices. Dr. Kowalke shares his journey from running a busy clinic to developing SKED in 2016 to automate patient communication and scheduling, thereby saving time and enhancing patient experience. He highlights SKED’s ability to increase show-up rates and streamline operations with intelligent automations. Dr. Kowalke underscores SKED’s reliability and commitment to future innovations. Resources MentionedTo learn more about the REM CEO Program, please visit:  http://www.theremarkablepractice.com/rem-ceoBuild your dream team with Chiro Match Makers. Learn more at https://chiromatchmakers.com/For more information about SKED please visit: www.sked.lifeSubscribe to our newest podcast "Build Your Remarkable Practice" here: https://podcasts.apple.com/us/podcast/build-your-remarkable-practice-for-chiropractors/id1734107477  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 discover:Do the preparation so that when you speak you can focus your attention on your audienceThe secret sauce that will make the information lead to transformation.Understand what people want so you can give them what they needHow to anchor yourself into in CERTAINTY - the ultimate people magnetEpisode Highlights02:40 - Marketing and educating clients through virtual and live events.05:12 - The importance of execution in a five-part process.08:53 - Being in the moment for presentations - letting go and having fun.11:04 - Speaking to a room with the mindset of speaking to one person.14:26 - Treating people based on their destiny, not history.16:14 - The importance of understanding audience and message in chiropractic marketing.20:04 - Shifting from focus on self to audience, reducing anxiety and increasing excitement.22:01 - Delivering a message that resonates with the audience's wants and needs.23:58 - Dr. Eric DiMartino welcomes Success Partner, Dr. Jason Green from Simplified Functional Medicine to discuss how their program helps chiropractors incorporate functional medicine into their practices without the need for additional extensive training. Offering comprehensive support in clinical systems, business management, and marketing to drive new patient acquisition, their approach streamlines the treatment of common chronic conditions with simplified protocols. They have also seen an attractive ROI, aiming for a 6 to 7 times return on investment for their clients. Tune in to learn how this system works and can benefit your practice. Resources MentionedTo learn more about the REM CEO Program, please visit:  http://www.theremarkablepractice.com/rem-ceoBuild your dream team with Chiro Match Makers. Learn more at https://chiromatchmakers.com/For more information about Simplified Functional Medicine please visit: https://simplifiedfunctionalmedicine.com/Subscribe to our newest podcast "Build Your Remarkable Practice" here: https://podcasts.apple.com/us/podcast/build-your-remarkable-practice-for-chiropractors/id1734107477  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