In this episode of the Practice Profit System podcast, host Matthew Gillogly discusses the critical role of mentorship and coaching for physicians who run or want to start cash‑based medical practices. He opens with a promotional pitch for his free book, "The Anatomy of a 7‑Figure Medical Practice," and then explains why mentorship is essential for achieving financial freedom and work‑life balance. Gillogly tells the story of two doctors from the same medical school—one who drifted through traditional employment and another who built a thriving cash‑based practice—to illustrate how mentorship can change outcomes. He draws a parallel between his own experience as a former PGA professional who still works with a swing coach and the need for physicians to have a dedicated mentor rather than relying on generic YouTube tutorials. Gillogly outlines six core traits of his most successful clients: coachability (ego‑check), willingness to receive challenging feedback, commitment to follow a proven process, habit‑based change, focus on fundamentals, and a growth‑oriented mindset. He shares personal anecdotes about his weight‑loss journey and habit formation to reinforce these points. The episode then transitions into a limited‑time offer: a year‑long, four‑slot private client group where he provides one‑on‑one mentorship, bi‑monthly calls, quarterly planning sessions, and strategic guidance for scaling practices from any revenue level to multi‑million dollars. He emphasizes that the program is not a service or lead‑generation contract but a mentorship relationship where he acts as the "architect" of the business. The episode concludes with a call‑to‑action to visit srpmedicalmarketing.com/mentor and srpmedicalmarketing.com/book, and a reminder to listeners to secure a mentor for their practice and life.
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Welcome to the Practice Profit System podcast. Do you own a cash-based practice? Are you looking to start one? Tired of working endless hours and still not making enough money? Want to fire your insurance company? Then you're gonna love our podcast. Each episode is full of insights and proven strategies to grow your practice to 7 figures and more, allowing you to take more time off, make more money, and no longer have to take insurance reimbursements. Plus, get a free copy of my book, The Anatomy of a 7-Figure Medical practice where I detail my entire journey to creating my own 7-figure practice. Just go to www.srpmedicalmarketing.com/book. You just pay $7.95 in shipping and handling, and you'll also get over $1,197 in free bonuses. That's www.srpmedicalmarketing.com/book. Now on to our show.
Hey everybody, welcome to the Practice Profit System. I am your host, Matthew Gillogly, and I'm coming to you today from the beach down at Hilton Head Island, thus the, uh, different background and a little bit different, uh, setup here. So what are we going to talk about today? So today what we're going to talk about is mentoring. Yeah, we're going to talk about mentoring and coaching. Now the reason why we're going to talk about mentoring and coaching is because I believe, and I know, that is probably one of the most important things that you can have if you are not having any of the success that you want in life. And so what we're gonna do today is we're gonna talk about the traits of my most successful clients and the power of mentorship. So let's go ahead and get started. So if you have listened to my stuff for any amount of time, or if you've read my book, you hear the story of the 2 doctors. And it's the first chapter in my book, The Anatomy of a 7-Figure Medical Practice. And what it is, is it tells the story of 2 different doctors who went to the same medical school. They came out with the same kind of grades, the same kind of prospects in future, and one wound up going from job to job to job, working as a, you know, locum tenens or working in different hospital groups, not very satisfied and happy with their lot in life of what really medicine turned out to be for them. And the other one is one that followed a path into the cash-based practice arena and had this wildly successful practice and had a great life and all those wonderful things that comes with it. Now, that story is really representative of my client base. There are literally thousands of people on my list that get these email lists, that get these podcast links every single week. And you know what's interesting is only 45 to 50 people have gone through my private client group, which is where I work with you one-on-one. And I'll talk more about that in just a minute, but I wanna kind of set this framework for you. Is that I want you to really think about how you do things in medicine. If you want to become very proficient at something, what you do is you go find somebody who's really, really good at it. Let's say you want to learn how to do Tommy John surgery. You would apply to be in a fellowship with Dr. Andrews down in Birmingham, Alabama, like Dr. Mark Pietropelli did. And, or if you wanted to learn the path of becoming an outstanding plastic surgeon, Cosmetic surgeon, I should say, you would find the best to train under and you would learn all their skills and their secrets and their traits. But that's only part of the equation. The bigger part of the equation is that in the cash-based side of things where we're not taking any insurance payments whatsoever, it's critical that we learn the business side of it, right? You can have all the greatest skill in the world, but if you don't have the business side of it, then you're going to constantly struggle. But you've heard me talk about that, so I'm not gonna belabor that point. What I am gonna do is I wanna share with you the specific traits of my most successful clients. And there's a little bit of a background on this. As you may know, I am an avid golfer. I am 54 years old at the time of this recording, and I've been playing golf since I was 6 years old. Golf for me has always been a sanctuary for me. In fact, I'm a former PGA golf professional. I ran private clubs. I never played on tour, but pretty decent player. And what's interesting is that even though I'm a really good player and I've been playing golf for in excess of 45-plus years, I have someone that I work with as a coach, believe it or not. Yeah, his name is Stuart, the Scotsman. Stuart, as we like to call him. And here's what's really even more interesting about this, is the game of golf has changed dramatically from when I first started playing. And I won't bore you with kind of the details of it, but basically the way I was taught to swing throughout my all the way through my 20s is now considered to be the wrong way to swing. And I had been going through a very specific set of changes in my game in order to improve the quality of my play. Now, why am I including improving the quality of my play? Very simple. I plan on getting my professional status back in the PGA of America, and I want to play in some section events. Okay? I want to get back to playing some competitive golf. And the amateur side of it, it's not really cutting it for me. If I'm going to do that, I'd like to cut a check. So I want to get better again. Okay, it's just that simple. Now, mind you, I know the game really, really well. I used to teach the game. I used to give a ton of lessons. I had been trained by great teachers. I've learned the game from some of the top teachers. I went to school with people that are outstanding teachers. But here's also the reality is I need somebody to help me see what I'm doing from a different set of eyes and implement The changes. Thus, I'm working with Stuart. Now, again, I'm not going to explain to you all the different things in the swing because unless you're a golfer, you're going to be really, really bored. But again, the reality is, is the way that you hit the golf ball so that you can have longevity and hit the ball further and play the game for a much longer time has dramatically changed. Okay? Just to put it in perspective, when I was growing up, you didn't work out. We drank beer, ate pizza, but we didn't work out. Today, over half of my regimen for getting my game back is working out and flexibility. Okay, that's just a simple example. Okay. So what does this mean for you and your practice and your ability to scale and grow your practice? Well, most people, what they wanna do is they're like the golfer that goes on YouTube and they try to find the videos and learn the quick fixes and the hacks and all of those things. And quite frankly, Stuart has a very simple rule for me. He goes, you are not allowed to go on YouTube and watch videos of somebody teaching the golf swing because it has to be very personal for me. I want to say that again. Stuart has a very simple rule. I'm not allowed to go online and watch videos of people teaching the golf swing because he's working on a very specific solution for me. And that's the way it has to be for your business. If you're spending your time— these podcasts are meant to introduce you to my philosophy, to my theology, if you will, of how I grow practices. But it's not meant specifically For you to supplement, to supplant one-on-one working with me by just listening to this podcast. It's a very, very fine— it's not even a fine line, but it's a very specific distinction that you need to really wrap your head around. You're not going to be able to really scale your practice by being a generalist. Now, there are a few people who play on the PGA Tour who don't have a swing coach. They are few and far between. They are less than 1%. But most of the ones that you see out there, even on the mini tours, even Even in the lower levels, even in the collegiate levels, they have people that they work with one-on-one to help them grow and improve their game. Now, they may have a couple of people. They may have a strength and conditioning coach. They may have a flexibility coach. They may have a nutritionist. And then they have somebody that works on their full swing. But at the end of the day, there is this entire hierarchy, if you will, that shows and helps them be able to play at their best. Your medical practice and your business growth is no different. I get asked a lot of questions like, well, you know, if I'm paying for somebody to do lead gen over here, isn't that enough? No, you're paying for a service. That's not coaching. That's not mentorship. That's just paying for a specific service. Okay, think of it this way. If you're building a house, you're gonna have an architect who designs the entire thing. And then on top of that, what's gonna happen is you're gonna have individual subcontractors that are gonna fulfill the work. The people that do your lead generation, they are a specific contractor. I am your architect. I am the one that helps you design the plan and helps you identify the contractors and subcontractors who are going to get the work done. That's what I do. Okay. But there are a couple of traits that are key that unless you match these traits, I will not work with someone. Okay, so here they are. All right. These are the traits of my most successful clients. Now remember, I haven't just coached people in the medical space. I've been coaching people since 2007. To date, I've coached over 4,000 people. worldwide on 5 continents in 30 different industries. I have built massive coaching companies and some of them are group coaching, some of them are one-on-one coaching, but when it comes to scaling a business, I know what to do. This is what I do for a living, okay? And frankly, I think I'm actually pretty good at it, okay? So here's the first— here are a couple of things. These are the traits of my most successful clients and these just aren't my doctors. These are the ones that are in any industry, in any niche. First and foremost, they are coachable. In other words, they check their ego at the door. If you are not coachable, if you want to debate debate with me. I mean, it's one thing to question, right, and to have a back and forth to understand something. But I've actually had clients tell me, well, I'm not going to do that, or that's not going to work. You know what, then maybe they're probably not the right fit. So first and foremost, you have to have a coachable heart. You've got to check your ego at the door. And second, you need to be making sure you're not looking for someone who's going to be a yes coach, right? My best clients, they are not looking for advice they can agree with. They want to— they want somebody who's going to push their way of thinking, and that's exactly what I do, to provide a different way of thought and a different way to approach something than, say, the traditional regurgitated method that is repeated over and over and over again in our industry. The third trait is they're willing to follow the process. To turn your practice around, to get your business going to where you want it to be, it is not a quick process. It is not as simple as getting 30 new leads. Look, everybody gets sucked into those pitches and they're great pitches. They're awful. They're wonderful pitches. And there are some people that can actually deliver that. But you've got to follow the process. There is a process, which leads me to the next one. Life is a result of the choices we make and the habits we create. I'm going to read that again to you. Life is a result of the choices we make and the habits we create. And so my most successful clients, they realize, just like your patient who wants to lose weight, Right? They realize that they have to change. It's not just about the food that they eat for 2 weeks. It's about changing the habits of the food that they eat. When I went through my weight loss journey over a year ago, and to date I've lost, it's just right around 30 pounds and I've kept it off and my body fat hovers anywhere between 19 to 22%, depending on a couple of different factors. But I had to completely change my habits. I had to completely change the way, and this happened over time. It didn't happen immediately, but I methodically changed my habits and I started making better choices. Okay, there are 2 more. My successful clients understand the power of fundamentals. They realize that this is not something that's going to just change overnight, but every day, if you improve it 1 to 2%, then what happens is you have a compounding experience. Many of my clients, after 6 to 9 months, are experiencing 150 to 200% growth quarter over quarter of their practices, and they see a bigger, brighter future ahead. No matter what happens, they see a bigger, brighter future ahead. So, does this sound intriguing to you? Well, then I have a special offer for you. And I rarely make offers on these podcasts, but I'm going to make one now. If you would like to work with me one-on-one, I actually have just opened up 4 slots in what are called private client group. It is a year-long commitment. It has no guarantees other than the fact that I'm going to push you.
Okay.
If you are looking for guarantees or you have done a number of coaching programs and you look for the coaching program to make the results for you, like to magically make the result for you versus you willing to do the work, then I'm probably not a good fit. I hope that makes sense because really first and foremost, you have to be coachable. You gotta be willing to follow this process. You have to make sure that you aren't looking— don't look for the advice that you wanna agree with and you're willing to make some new choices and some new habits and focus on the fundamentals and see a bigger future. If you answered yes to those, then you're the type of client that probably would be a lot of fun to work with. And I'm very selective as to who I work with. I'm not going to keep going until I sell and put 4 people in, I should say, into my private client group. My max that I will put in will be 4. Okay, there is commitment. You have to show up to your calls. We do 2 calls a month. We do quarterly group planning sessions. All of this is detailed out on a page I'm going to give you. Okay, so what's the process? Go to srpmedicalmarketing.com/mentor. M-E-N-T-O-R. That's mentor. srpmedicalmarketing.com/mentor. Marketing.com/mentor. On there is a quick little video and an explanation more of what I look for. And if you answer yes to that, then what I ask you to do is I ask you to reserve a slot and talk with me. Now, I am going to charge a very small nominal refundable fee for you to book time with me because I only want to talk with people that are really interested in changing where they are with their practice. I am looking for people that want to scale their practice and start— if you're doing 7 figures already, I wanna scale you to, you know, if you're doing $1 million, I wanna scale you to $3 to $5 million. If you're doing $3 million, I want you to scale to $10 million a year. If you're doing $10,000 a month, I want you to scale to $55,000 a month. Okay? So it doesn't matter where you are. I have a couple of people that are in startups that are just starting, and I work with them in private client group as well. Okay? So this is a relationship between you and I. Okay? So I, like I said, I would tell you that 30% of my clients in private client group are startups. Yeah, love working with them because I've done so many of them. I've started 3 of my own and have helped numerous other people acquire, buy, start, launch, the whole deal. Okay, so that's it. Mentorship, probably one of the most important things in the world that you can have and do. The best of the best always have somebody that's coaching them on improving some area of their life, and mine continues to this day, even at 54 years old. With all the success that I've had in various aspects of my life, So check it out, srpmedicalmarketing.com/mentor, and I look forward to having a chat with you. And, uh, we'll go over pricing and all that good stuff, but check it out. Have a great day, everybody. And no matter what, I don't care if it's me, I don't care if it's somebody else, get yourself a mentor. Make sure you have somebody who is operating as the architect of your business and your life. You'll be much happier for it. Have a great day, everybody. See ya.
Thank you so much for listening. If you liked this episode, take a moment and share it with your fellow medical professionals, or post a positive comment and rate it on wherever you just listened. Now don't forget, you can get a copy of my book, The Anatomy of a 7-Figure Medical Practice, for free. Just pay $7.95 in shipping and handling, plus you'll get over $1,197 in free bonus material. Simply go to srpmedicalmarketing.com/book. That's srpmedicalmarketing.com/book. Thank you so much, and we'll see you next time.
