EP36-My Personal Secret For Hitting Your Revenue Goals Every Time

Hey everybody, Matthew Gallogly, and welcome to the Practice Profit System, your weekly podcast for medical practices on how to scale your practice to 7 figures and beyond. So let's talk about what we're gonna talk about today. Actually, that's a lot of abouts to say in about, uh, but you get the gist anyway. So what are we gonna talk about today? Well, let's talk about my personal secret for hitting goals each and every single month and each and every single quarter. And by the way, even if you have miserably failed at hitting goals in the past. Now, I'm not going to share with you the typical Tony Robbins stuff, rah-rah stuff, and Tony Robbins is great. I don't have an issue with him. But what I want to talk to you today is about the GAP. G-A-P. The GAP is why you are not hitting your goals for revenue and for growth in a timely manner. And I'll explain here in just a minute. But first, I want to go back to our last podcast last week. And last week, we talked about the power of vision and values. And the reason why we talked about the power of vision and values is, I'm not a real big navel-gazer. Like, I don't like to spend a lot of time kind of like contemplating the, you know, the complexities of life or anything like that. But the Vision and Values podcast, if you haven't listened to it, I recommend that you go back and, you know, hit pause and then go back and listen to it. It's actually one of our most downloaded podcasts in quite some time. But the thing about the power of the vision and the values is it is the foundation of everything that you do. And if you're not hitting your goals, then you're not clear about your vision and your values. Let me explain. I just got done texting with one of my clients who's on an amazing run. She's gonna do in excess of probably $80,000 in her 4th month open. She's just absolutely killing it. And we've been talking about this exact concept, an idea, or not idea, but actual practice, I should say, of really being clear about who you are serving. And too many doctors, what they wanna do is they wanna serve everybody, right? And if you've listened to any of my podcasts, you know that this is a fundamental truth of what I teach. Part of my dogma is that you wanna be something to someone, not everything to everybody. Okay? And when you start to offer way too many things, your brain gets scattered. It's impossible for you to be able to zero in on who you're going to be serving. And your vision is part of that. Whenever I work with a client, the first thing we do is we talk about the vision and the values. And they all want to talk about the tactics, right? Should we be running this ad? Should we be on Facebook? Should we be doing LinkedIn? Should I be doing webinars? I heard somebody's doing Facebook groups, blah, blah, blah, blah, blah, blah, blah, blah, blah. None of that matters. Those are all tactics, okay? The real key to hitting this on a regular basis is all about your vision, about who are you serving, and most importantly, who are you not? So my core group of customers are people, are practice owners, doctors who own their own cash-based practice or want to start it. That's it. That's all. That's who— that's the only people I work for. When we owned the clinics We did erectile dysfunction, that everything that's related to men's sexual health, but everything started with ED and then we added on top of that. So that was our vision and it was really, really clear. It was clear to us, it was clear to our team, and it was more importantly, it was clear to our prospect. Okay, so that's the first part. The first reason why you're not hitting your goals is you're not really clear On who you are and who you're serving. More importantly, you may be thinking, oh yeah, I'm an aesthetics doctor, or oh yeah, I'm a functional medicine doctor. But who are you really serving? Oh well, I'm serving people over the age of 40 to 70 who want to live better. No, who are you serving? Who is the who? As, um, as my friend Dr. Charlie used to say, who's the who? Okay, who is the who? All right, so that's the first reason why you don't seem to be hitting your goals is because most people aren't really clear about who they're serving. The second part about this is, and I have a whole worksheet that I call the GAP worksheet, it's actually one of my top things that we work on with my clients when they come in for a private client group, but the thing is, is that you've got to then be really clear Also about why you're doing it. Okay, you got to be really clear about why you are doing it. Okay. And what I mean by this is, what, what is it that is, is just absolutely keeping you alive? Why is this important? Okay. Why are you— and by the way, I know, I understand when I'm talking about why this is important, I'm talking about why this is important to you. Okay, see, the purpose of business is not only— again, I say this all the time, it's a foregone conclusion you're taking great care of your patients. If you are not giving outstanding patient care, then you need to hit pause on this and frankly not listen anymore to my podcasts, okay? Because if you implement what I have and you don't give great patient care, you're gonna do way more harm than good, okay? But you have to say, why is this important? Why are you doing this? Okay, in You know, most people that I know, they either are doing it because they want to secure a better future for their life and their kids, okay, or they want to create a deeper legacy because they've, they've got kind of everything that they want from a material standpoint. Very few people that I work with— in fact, I don't know of anybody that I work, that I work with— do this because they want a 10,000-square-foot house or they want a Lamborghini or they want a Bugatti or any of that crap. Really, most of the doctors and practice owners that I work with They just want to provide a better life for their family and their, you know, their extended family. Okay. So, okay. So, and then the other thing is, so you've got this over on the right-hand side, that's the future. Okay. Then on the left-hand side, at the beginning, the reality of why you're there. Okay. So you've got to take a really cold, hard look at why you are there. Like, what, what's the reality of where you are right now? Okay. And the question you have to ask yourself is, what's the risk Write this down. What's the risk, long-term, short-term, medium-term, if you stay exactly where you are? What is the risk if you stay exactly where you are? Okay. Now, when you do that, okay, when you identify the risk of staying where you are and you identify why this is important you will realize there is a mismatch. And in that mismatch is created the desire for you to move forward. Got it? Now, and I actually have a worksheet called The Gap. I'll actually, for those of you that want it, post a comment and I will send this to you. You can post a comment saying, send me The Gap, and you can post it on either LinkedIn or wherever you're listening to this. Or YouTube, and I'll be more than happy to send you a copy of this. In the future, I'll have a site up where you can actually download some more of these materials specific to this podcast. But let's keep moving this forward, okay? So on the left-hand side, we've got the reality, and the reality is like your revenue, your, you know, the number of patients that you see, and then the risk that you stay staying there. That's the reality. That's on the left-hand side. On the right-hand side of the paper, want to write the future. What's the future look like for you with regards to revenue? Why is this important to you? Okay, why is this important? And then, by the way, the reward. Okay, now I'm a big believer of rewards. Okay, the reward, and I want to be really clear about this, this is the reward for you. It is not Like taking the family to Disney and staying at Animal Kingdom, right? That's not the reward, okay? Because if you set a goal like that, a lot of times your subconscious mind is going to play against you, okay? I want you to think about this. You say, okay, we're going to do $500,000 in the next 3 months, and you go home and you tell the family, all right, when we hit $500,000, we're going to take a trip to the Caribbean and stay At, you know, in St. Kitts at the whatever, the Ritz-Carlton, right? By the way, that's going to cost you about $20 grand, but, you know, go for it. All right, well, the problem is, is both of those statements into your conscious and subconscious mind is so far away from where you are that it can't grasp the reality. And so your alligator brain, which protects you, is going to actually do everything to make sure that that doesn't happen. Okay, now am I saying not to set big goals? I've heard people say, oh, stretch, set a big goal, and if you, you know, shoot for the stars, if you hit the moon, you're still in outer space. I get that, right? But the reality is, is that actually works against you. What I want to see you do is I want to see you have incremental growth. If I can get you to grow 10% a month, For the next 12 months. I don't know what that comes to. Some really smart person with math will be able to tell me what that is, but that's like 250% growth. I just— if you're doing $20,000 a month right now, next month just do $24,000. The month after that, do $28,000. The month after that, do $32,000. The month after that, do $36,000. The month after that, do $40,000, right? See how this starts to grow? You'll actually reach a point, an inflection point, where all of a sudden it just goes bam like that. Okay, every business has it. Okay, usually, by the way, in the practice space, it's about $40,000 a month. Once you break through $40,000, it kind of just goes like that, right? Okay, so let's go back to this reward. The reward is for you. What is the simple reward you want to give yourself? My girlfriend Katie always gives me grief about this. Because she's always like, you just bought an iPad? You signed up for a monthly massage? These are little goals. When I, I have these little goals. So I love to play golf, right? There's a couple of things that I love. One is to play golf. The other is I enjoy really good cigars. And so I set the goal to reward myself with a round of golf at like a really nice golf course. Just for hitting my goals in the quarter. It cost me like $400, and it's all for me, and it serves me. Or I might say I'll buy a box of, of, of, um, really, really nice cigars. Okay. Um, you know, it'll cost $300, $400. I know, I know, doctors and all the inflammation. I got it. I mean, frankly, folks, I really don't have any other vices, so just deal with it. Okay. Everybody's got to have something that they do, right? Or I might reward myself with— I have one client, he's like, yeah, I haven't bought myself any new clothes in like 5 years. I'm like, go spend $500 on yourself in clothes, even if it's nicer t-shirts, funnier t-shirts, right? Or, you know, just something other than maybe spending, you know, buying $8 t-shirts at Walmart. You know, go buy yourself a couple of nice t-shirts, right? A nice pair of jeans. I'm talking about little something, little things to reward yourself. Those are more realistic in your brain, and they'll actually dig that. Your brain and your conscious and your subconscious mind will actually love that. Okay, now, so the reality's on the left, the future's on the right. Now in the center are the actions. Okay, this is the gap. The gap is the actions people don't clearly define The actions, the daily actions that have to happen in order for you to break out of the reality into your future. Let's talk about weight loss. Again, if you follow my podcast on a regular basis, you'll know that at the beginning of 2021, I dropped 25 pounds in 35 days. Okay, I was pushing 215, 218. I'm 5'7, 5'8. My lipid profile was off the charts, meaning bad. I was borderline type 2 diabetic. And I, look, I know all this stuff. I mean, I get my blood work done once a quarter. I'm in an executive health program with Dr. Mickey Barber, and she was giving me great direction. But the reality was that I wasn't doing the work. I wasn't committing to doing the work. And the risk to staying there is that I would drop dead of a heart attack at a premature age. Okay, that's my thing on the left-hand side, the reality. My future, as to why this is important, is that I'm really into being a dad. I've got a 26-year-old daughter who's getting married in a couple of weeks. I got a 23-year-old son, and I've got a 16-year-old son. I lost my father at the age of 13. He was 60 years old. He dropped dead sitting next to me watching a baseball game. I've never had a father really around. I mean, aside from my first 13 years, I grew up essentially fatherless. I don't— I've never had I've never known my grandparents. Okay, my families were from the Great Depression, you know, where like, you know, everybody died of tuberculosis. Okay, so this is important to me because I want to, I want to meet my grandkids. I want to be a part of their lives. Okay, so this is why it's important to me. And then I had to become truthful with myself about the fact that I was not taking the actions daily that I needed to do. So what did I do? I set specific actions about the amount of calories that I was gonna eat each and every single day. I did a proven program. I did OPTAVIA to help lose the weight. I, and I quit drinking. And within 35 days, I lost 25 pounds. I've taken my body fat from 32% to 18%. And I'm still there today. Okay? Today I weigh either 189 or 190. I weigh myself every single morning. Okay, my waist has gone from 36+ to 33 to 34. Okay, and I don't tell you that to brag, but I had to define the actions that I was going to do each and every single day, no matter how bad it got, no matter how bad I wanted to have a glass of bourbon or a glass of wine at the end of the day. I had to do the work. Okay, that's why you don't, people don't hit it is they're not clear about the reality of staying there. They're not clear about why this is important for the future. They don't get really zeroed in on the vision. They go, oh, to have a better life. No, like, tell me about that better life. For me, it was, tell me about what it's like to chase my grandkids on the beach and throw the football with them and play golf with my grandson or granddaughters. I don't even have any yet. OK? For them to come spend a couple weeks with me in the summertime, right? With Katie and I, you know, our vision of having a place on the beach or right next to the beach so that the kids, the grandkids on both sides can come and visit. OK, and my reward, by the way, for me, when I lost all that weight, I bought myself some new pants, which was really cool. All right, that's the gap. All right, if you want to get a copy of the gap, simply type in the comments sections below, send me the gap, if you are listening to this on LinkedIn. If you are listening to this On YouTube. If you are listening to this on iTunes, just go to Facebook, LinkedIn, or YouTube and again find this and just type in The Gap and I'll be happy to send it to you. In the very near future, we will have a website up just for the podcast where you'll be able to get these kinds of resources for you and to help make things run even better for you. So that's it. The reason why you're not hitting your goals on a consistent basis is you're not clear about who you serve. You're not clear about the risk of staying there, and you're not clear about why it's important. And then most importantly, you're not clear about all the specific actions that need to happen. Those actions are not Facebook advertising. They're not running a webinar. It's about the day-to-day actions. All right. Have a great day, everybody. Thank you. Remember, you can check us out at srpmedicalmarketing.com/book. You can get my free book, The Anatomy of a 7-Figure Medical Practice. Share this with your other friends. Give us, like us, give us a 5-star review. Give us some positive reviews or some feedback. Or if you have feedback that you'd like to see us improve, let us know. We'll be happy to do it. Have a great day, everybody. Carpe diem, seize the day. See ya.