If You Think This, Your Practice Is Doomed...

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 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.

All right, everybody, it is Matt with the Practice Profit System with our weekly installment of how you can break free from the chains of insurance-based care, treat your patients as you wish, and get paid the money that you richly deserve. Now, today I'm gonna give you a little bit of a warning, okay? I'm about ready to get a little edgy. So you have been warned, but this topic needs to be discussed. And the topic that needs to be discussed is very simply this: if you are thinking what I'm about to share with you, your practice is doomed. Now let me explain what I mean by this. So right now we are in the middle of launching what is called our Business Mastery Fellowship. Now our Business Mastery Fellowship is our core program where we teach practice owners and doctors the fundamentals of running a profitable, cash-revenue-generating, system-oriented practice. That's what Business Mastery Fellowship is all about. Think about it like this. It's just like if you do a fellowship, if you wanna learn how to do knee surgery, right? You're gonna get submerged in it. You're gonna learn everything about it. It's gonna take a lot, but you're gonna push yourself and you're gonna move yourself beyond everything else that you've ever learned, okay? Now, here's the problem. When people are interviewing to be accepted into the program, do you wanna know what the number one thing is that we hear? You're gonna love this. Maybe you're probably asking these questions yourself. This is what we hear. Here, there are 3 main questions that we hear, and I'm gonna share them with you, and I'm gonna talk about them, and I'm gonna tell you why these are the wrong questions to ask, and I'm gonna give you the questions to ask, okay? So, the first big question we hear all the time is, Matt, I've hired other agencies. They promised me results. I got 50 appointments, and only 2 showed, and I spent a bunch of money, and it didn't work. Let me tell you something. Business Mastery Fellowship is not about generating leads or hiring an agency. The reason why, if your practice is struggling, the reason why your practice is struggling is you need to put as much— you need to put some time and energy into learning the fundamentals of business. But Matt, this is question number 2, but Matt, I'm just a doctor. I don't know anything about business. You gotta change it. You gotta change it. How in the world can you be running a practice? How in the world can you own a practice and sit there and say, I don't know anything about business? You see all these books on my, on my shelf right here? I didn't know much about business either, okay? But what I do is I read constantly all these books, right? And that is literally 1/10 of the number of books that I have read. But Matt, I don't have any time between the practice and all this. You got to make the time. You want to know how I got there? I got up 15 minutes early every single day and I read for 15 to 20 minutes. That's what I did. And the first book, by the way, that I started with was Rich Dad Poor Dad in 1998. That was the first book that I started with. Okay? But you've got to do the work. Okay? Then the other thing is I get this all the time is, well, Matt, How do I know this is going to work for me? Well, here's the deal.

You don't.

Okay? How do I know if I go see you that if, like yesterday, I went and got a PRP procedure on my elbow, okay? Got tendonitis, golfer's elbow, went and got a PRP procedure. And I'm sure that the ortho that I went to down in Charleston, Dr. Geier, you know, he's— I'm sure he gets this from clients all the time or patients all the time. How do I know that this is going to work for me? And he can sit there and he can say, you know, we have all this results. Da da da da da. But at the end of the day, the prospect is skeptical because they think that they're different. They think it's going to work for someone else, but they don't think it's going to work for them. But I'm here to tell you something, and this is my personal guarantee to you: I will work with you until it does. I will make sure you make a three x return on your investment in Business Mastery Fellowship. Until you do, to make sure that you make your money back. Okay? That's how committed I am. My team is committed to making this work. But more importantly, that's how I know, that's how confident I am that if you follow what we do, you can have a successful practice. But I'm gonna be really frank about something. You can't delegate it and you can't mail it in. You can't delegate it, you can't mail it in. Could you delegate you becoming a doctor?

No.

You had to do the work. Could you mail it in to go through med school? No, you had to do the work, right? And it's the same thing. If your business is not making you the kind of money that you wanted to make, then you've got to change something. If you are not getting the time off that you want, you need to change something. And you get— you better get someone, whether it's me or somebody else, but you better get somebody who's going to show you the way. I mean, look, if you want to lose weight What are you gonna do? You're going to have somebody work with you. You're gonna get a trainer, okay? If you had a rich uncle that left you a key in a safety, in a box, in a metal box up at the top of the mountain, and you knew that that key was, it would open up a safe deposit box and in there would make you a, give you $20 million, what would you do? You'd hire a guide. You'd get in shape. You'd work out. You'd change your diet. You'd change your habits. You've got a year to get up to the top to get that key. In that box, so that you can go down the safety deposit box. It'll open the safety deposit box that has twenty million dollars in it. What are you gonna do? You're gonna do the work. Your business is exactly the same. You've got to get someone who's gonna show you the way. And I'm telling you, it's not another agency. That's why I'm not an agency. We don't deliver leads. That's not what we do. I give you the fundamentals so that you can have a great business—the business that allows you to take the time off. Like yesterday, when I went down to Charleston. Which is three hours away from me. It's Dr. Mickey Barber's practice, Better Life Carolinas. She is client number one. She's my first client in this, right? Mickey wasn't there. She's off this week. She has two practices, and the place was rocking. I don't know what they did yesterday, and if I did, I wouldn't tell you because of confidentiality. But I'm here to tell you right now: they were killing it. They were killing it. And so you got to ask yourself, why is it that you're not getting the results that you want? And I'm going to tell you, it's not the agency's fault. It's not the lead generations company fault. It's because you've tried to delegate your growth. And I want you to know the fundamentals of running a successful business. You have to know this, and you've got to do the work, and you got to get rid of that thinking that says, I'm just a doctor, I don't understand business. You gotta quit saying that. Don't let those words out, right? Look, if I can understand some of the things in medicine that we do, and I've got 7 years of college and 1 degree in marketing, if I can understand the positive impact on hyperbaric chambers on PRP platelet counts, if I can understand the impact of a vegan diet on platelet counts, if I can understand the impact of peptides and what to do— yesterday I'm having a conversation with the orthopedic. The orthopedist and, and Todd, and we're talking about all these things, and the orthopedist rolls back and he goes, God, you really know a lot about this. And I go, because I study, I work hard to understand this. Okay, you can too. Look, folks, I had a 2.4 GPA in college. All right, it's not like I'm some Rhodes Scholar, and I went to like a pretty low-end college, right? But if you put the effort and the energy in, you can do it. But you gotta put the effort and energy in. You have to do it. And if you're listening to this right now and I'm making— you're mad at what I'm saying, then you probably know that I'm right. And if you're listening to this right now and you're offended by what I'm saying, you know I'm right, okay? This is what has to happen. You gotta do it. You gotta do it. So whether it's with us or with somebody else, but you need a mentor to show you the pathway in business. If that's you, go to srpmedicalmarketing.com. /fellowship. Okay, just like it's Business Mastery Fellowship, all the details are there. You can fill out an application and then our team will interview you, and if you're a fit, we'll give you an opportunity to join us. Okay, it's starting very, very soon, but we're open up through September to still get in. Get in there if you are anywhere near not making the amount of money that you want to. You gotta change it. And I guarantee you will make 3 extra money back that you put into it. I guarantee it. If not, I'll keep working with you till you do. But don't sit on the sidelines anymore. Don't sit out there and say you don't understand business and not do anything about it. Don't sit there and say you're just a doctor. Be bigger than that. Be better than that. Stop chasing somebody telling you all these people on Instagram and Facebook that are running these things, we're going to send you 50 leads guaranteed or you're always nothing. Yeah, the leads are crap and they're not gonna convert, okay? Do it, take care of it, build a great business, and I wanna work with you. All right, rant over. Have a great day, everybody. This is Matt Scaloboli with the Practice Profit System. Stay classy, folks. We'll talk to you later.

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, 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.