Dr. Vince Leone | The Fundamental 5 Training

What is up, doctors? I wanted to record this video to go over the Fundamental 5. I covered this in our DCU live video conference earlier this week, and we covered a couple other things as well, but I wanted to record this video specifically on the Fundamental 5. I mean, I feel really, really passionate about the value of this, so let's go ahead and dive right in. Let's see, it's Let's just get up to the beginning here. Perfect. We're going to go full screen. Awesome. So the Fundamental 5, the concept is what can we do on a daily and weekly basis to grow our practices and our lives? Okay, so, and life gets busy and it's easy to get knocked off track. So this little kind of routine provides a reference point to come back to daily and weekly. So number 1 of the Fundamental 5 is tracking stats daily and weekly in our practice. So that's new patient— new patients, visits. Now I would do consultations and new patients so you can see what your conversion is, right, from the consultations and how many signed up. And then you have your visits. And then other things you can check are like, you know, PVA, which is your patient visit average. And you just— and I, you know, you can do it yearly, but you can also do it quarterly. So for a 90-day snapshot, You can just take your total number of visits and divide your new patients into it. That's going to give you your patient visit average. You can also look at what you collected per visit. So that would be your total collections in a 90-day time period divided by your total number of visits. That would give you your collection per visit. You can look at what your average case value is. So that would be total collections divided by Total number of new patients. So these are all stats that I recommend, highly recommend tracking them daily, and then you at the end of the week you assess what were they? How many visits did I have? How many consultations did I have? How many new patients did I have? And then what does that compare with your goals? Are you on track? Are you behind? Are you ahead? So of course we have our goals, right? So we have our weekly— I mean, you can have, well, you know, I have my monthly goals. I want to have, you know, I want to make You know, $50,000 a month in practice, that means I need to make $12,500 a week. What does that equal in terms of visits and new patients, all that stuff? So you just chunk it down all the way back to the week so you know, hey, this is where I need to be. Okay, so you're tracking your stats daily, you assess it at the end of the week, and you compare it with your goals. So what we focus on grows, and that's why this is really, really important. Fundamental 5 number 2, Training and meeting with staff daily and weekly. So what this does first gets everyone on the same page, right? So we want to meet with our staff on a daily basis. Does it— and this needs to be— I would recommend this in the morning, right? Because we want to talk about the day ahead of us. So I'd recommend, you know, and it can be 5 minutes. It's like, hey, um, uh, and it should be a combination of tactical and motivational, right? So tactical, um, hey, how many visits Do we have scheduled for today? How many new patients? When are they scheduled for? Do we have the paperwork? Now, Cindy, do you know how to greet the patients properly? And you talk about, this is how you should greet the patient. You know, get up from around the desk, go out, shake their hand, let them have a seat, decompress, give them a cup of water or something of that nature, and then bring them their paperwork. Okay? And then keep everyone on schedule. So it gets everyone on the same page. It also shows your staff that you care about them, because you're taking the time to sit down and meet with them. And then if it's further on in the week, you can look at the day prior and say, hey, we had 50 appointments on the book. How many people showed up? So, well, 45 people showed up. Well, what happened to the other 5? Did they get rescheduled? You know, and you can go into that because if you're, you know, if you're not— if you're having missed appointments, then you're losing money if they're not being rescheduled. So that's important information to know. And then you want to meet with them at the end of the week, okay, so that we can do a week in review. See, hey, how did we go? Now, total number of visits that was scheduled out for the week was X. We had this number. Now, so it— now if it's a large number of missed appointments, that's an issue, right? Because then, you know, is there a reminder call system in place? Were those visits rescheduled, or are they just kind of lost? But you won't know unless you meet and review it, okay? And then every great company trains relentlessly, whether it's Amazon, whether it's Facebook, you name the company, they train relentlessly because they know that they have a way that they want their business to run and they won't have it run that way unless they train their people on a regular basis. Okay. So, and if you have no staff, just meet with yourself. You know, you can see this picture online somewhere, Jeff Bezos, he's in this, you know, some crappy spare room in his house, and there's a crappy-looking tarp sign that says Amazon. And, you know, so he started by himself. Now he's the richest man in the world. So, you know, take that as inspiration. So you— but the point being is you want to start, you your habits the correct way. And so if, even if there's no staff, you start meeting on a daily basis, look at your schedule. Hey, when are my new patients? How many visits do I have? And then you review it the next day. You know, did I get all my visits? Did I miss some? What happened? Well, you don't know unless you check and you meet about it, okay? And then on the end of the week, review it. So that's fundamental 5 number 2, training, meeting with staff daily. And weekly. Next, this is a huge one, tracking cash flow daily and weekly. So this is one of the most overlooked activities, right? Matter of fact, you know, it is rare the chiropractor who tracks his cash flow on a regular basis. And it's not complicated, guys. We don't have to be certified in accounting to do this. It's just how much money came in each day, how much went out, what checks were written, you know, are you on the plus side, are you on the negative side? How does it compare with your goals? Are you on track? So if your goal is to make $40,000 a month, did you make $10,000 that week? Was it less? Was it more? Are you behind schedule? Are you ahead of schedule? If you're behind schedule, then hey, we gotta do some more marketing. We gotta do something so that we can increase the cash flow. 'Cause it's not gonna just happen. Just 'cause you wrote the goal down doesn't mean it's gonna happen. You gotta take action to spur it along. So tracking cash flow daily and weekly, super important. Next, tracking and implementing marketing campaigns daily and weekly. So a really, really great question you can ask yourself on a daily basis is, what actions can I take today to move me closer towards my goals? Okay, huge, huge question. I write that down every morning. What actions can I take today to move me closer towards my goals? And the highest value activities, as you as the doctor and the owner of the clinic, is our patient acquisition and patient treatment, right? So obviously treating the patients is huge, you're a doctor. But patient acquisition is massive too, because if you don't have new blood in your practice, then it starts to wither and die. So patient acquisition, new patient acquisition is massive. So we want to be creating, implementing, and tracking marketing campaigns daily and weekly. So what this means is, hey, you're going to have a template, and if you need one, let me know because I got one all ready for you. But you just list, hey, these are all the marketing campaigns that we have that are either going on daily or weekly, you know, or some may be monthly, you know, like Well, we have a radio campaign, or we have a Google AdWords campaign, or we have, you know, Two Card Tuesdays, or new patient letters, or whatever it is. Like, you want to list them all out, right? Okay, what actions were taken this day or week on this particular campaign? How much did it cost? And what was the result? Okay, and you just continue to update that on a daily and a weekly and a monthly basis because Again, what you focus on grows, and the more marketing campaigns that you have, the more likely that you're going to have a steady stream of new patients from all these different sources. Because we're not really looking for— unless you're doing big marketing like radio or TV, you're not looking for home runs. You're really looking for singles and doubles, to use a baseball analogy. And you just want singles and doubles from many different sources. That you can have a steady stream of new patients which results in a steady stream of new revenue. So, to do a fishing analogy, all kinds of analogies today, a fishing analogy, more poles, more fish, okay? Number 5, fundamental number 5, training and growing yourself daily and weekly, okay? Huge, right? What are you reading this week? How are you improving yourself both personally and professionally? You know, how are you improving, you know, your skills at marketing? How are you improving your health? How are you improving, you know, whatever it is. Like, you know, the top CEOs, they read 60 books a year on average. And trust me, they have less time than us to do this. You know, Mark Cuban, I've heard that he dedicates 3 hours a day Just to reading. Okay? So the old adage, readers are leaders, is absolutely true because those people that are most focused on success and building big businesses are most focused on personal growth as well because they know it gives them an edge. The more they know, the more they can utilize that in their business. So how How are you going to give yourself an edge? You can be reading books. I stopped reading fiction books quite a while ago. I only read nonfiction business books. I read marketing books, I read business books, I read parenting books, but I'm not reading Harry Potter anymore. And as much as I like these books, I used to read tons of fiction books. I mean tons of fiction books. I've always been a big reader. And I've read So many series of books, you have no idea. But I stopped doing that because honestly, it was a waste of time. At this point, it's like you only have so much time in the day, especially when you have a family and you have a business and all these things that are pulling on you. So you have to really prioritize your time. So the fiction had to go. But honestly, I don't miss it. But now it's like, hey, I mean, I literally buy 1 to 3 books a week on Amazon. Really? Because, I mean, geez, for $12, yeah, I'm going to buy it. I'm not going to be able to read it right now because my stack of to-be-read books is growing and it's probably about a dozen tall right now. But the point being is I know that I don't have to invent the wheel. There's already been someone that has done everything I want to do and they've put it in a book. Or they've improved a certain process or technique or whatever and they've put it in a book. So, and I also, I take courses on Udemy. That's another really great outlet and resource for anything you want to learn. You can buy a course for $12. It's called Udemy, U-D-E-M-Y.com. Really great resource, and you know, you just got to make sure you get a, you know, buy the best course they have for your particular topic. But, and always, you say, well, what should I focus on, Dr. Vince? Health, wealth, and relationships. That tends to, you know, those are the big 3, right? Because I absolutely focus on my health, nutrition, and all that type of stuff, so I read stuff on that. Wealth, anything related to business, money, finance, marketing, sales, all that type of stuff falls into that category. And relationships, you know, and that's also the relationship with yourself, right? I mean, like, it doesn't have to be, you know, just relationships with spouse, but, you know, Certainly relationships with children and being a good parent. And, you know, I have 2 girls. So, I'm really focused on that because, you know, I don't want to be an absentee dad. I want to be actually the best father on the planet. So, I try to educate myself on a regular basis on how to be a good father and how to be a good model and how to, you know, be that person for them so that they grow up with the right values and so they can make good decisions and all that type of stuff. Being a good father is massively important to me, so of course I'm going to put time and effort and energy into that. But whatever those are for you, health, wealth, and relationships, whatever those courses, books, seminars, webinars, whatever those things are for you, invest in yourself. Invest the time daily and weekly because life is a competition, and if we're not improving ourselves, we're Then someone else is improving them and they're going to take what we want. Okay? So, that is it. That is the fundamental 5. I hope this was valuable for you. Please take this, implement it, and give me feedback. Let me know how it's going. Let me know if you have any questions. And that is all for today. So, thank you so much for being a client. I really, really appreciate it. I hope this is valuable for you. And I will speak with you soon. Take care.